Foreclosure sales inched another notch up as credit issues in the broader consumer credit market rose to a new level, according to the respective findings in two new August reports. Sales of foreclosure properties in ICE Mortgage Technology’s latest First Look report ran 22.52% ahead of last year’s rates and crept up by 0.55% on […]
Foreclosure sales inch up, consumer credit issues spread Read More »
Foreclosure starts are notably up from last summer as the strain of today’s high-cost environment is affecting more borrowers. Lenders began the foreclosure process on 24,254 properties last month, up more than 17% from last August according to Attom. The total 35,697 U.S. properties with foreclosure filings last month represented 1 in every 3,987 homes
Foreclosure starts jump 17% as borrower strain mounts Read More »
A securitization trustee is petitioning the Supreme Court to hear New York’s Foreclosure Abuse Prevention Act, but the wheels of justice turn slowly, in the interim the law raises concerns for various industry stakeholders. “They haven’t decided whether to review it or not, but that will be conferenced by the justices of the Supreme Court,”
FAPA disrupts market as petition pends before Supreme Court Read More »
Some mortgage delinquency data raised concerns, but Cotality’s Q2 report also showed a positive sign: late loans aren’t progressing to more serious stages. The total delinquency rate rose on a quarter-to-quarter basis for the period ended June 30, trending higher after a drop-off for the period ended March 31, the Loan Performance Indictors report said.
Regional real estate pockets are showing stress in 2Q Read More »
You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know. According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000. So, even
What Mortgage Delinquencies Tell Us About the Future of Foreclosures Read More »
As serious mortgage delinquency rates continue to rise, rising payment-to-income ratios across other credit products could serve as a canary in the coal mine for future problems in making monthly payments, a Transunion report said. Over two years, serious delinquencies, which Transunion defines as 60 days or more late, while still relatively low, have increased
Payment-to-income trends seen as mortgage risk indicator Read More »
Real estate investors own almost 900,000 vacant properties nationwide, a share greater than the number of empty homes across the rest of the housing market, Attom reports. The vacancy rate nationwide is steady in the third quarter compared to past years, according to the property analytics firm’s latest study. The number of homes that have
Investors own almost 900,000 vacant homes: Attom Read More »
Foreclosure rates climbed across the country in July, a sign that high home costs may be starting to catch up with homeowners. Lenders and banks moved to foreclose on 36,128 homes nationwide in July, an 11% increase from last month and a 13% increase from the same time last year. One out of every 3,939
Foreclosures tick up as home costs weigh heavy on borrowers Read More »
A rule establishing permanent foreclosure protection measures for Department of Veteran Affairs borrowers was signed into law by President Donald Trump Wednesday, after a previous iteration of a federal servicing program expired earlier this year. The VA Home Loan Program Reform Act, which was introduced by Rep. Derrick Van Orden R-Wis., aligns servicing guidelines with
VA foreclosure prevention bill signed into law by Trump Read More »
Foreclosure auction activity hit a two-year high on the back of a major jump in repossessions for Veterans Affairs-backed loans, a new report from Auction.com found. Auction activity rose 19% year-over-year, according to the report, led by a 428% jump in foreclosure sales on VA-backed loans. The report cited the Federal government ending a VA
Foreclosure auctions spike, but bidders hold off on buying Read More »