Items Tagged with 'Foreclosure'

ARTICLES

Should servicers still be outsourcing REO disposition?

The true state of the foreclosure market
As the foreclosure crisis continues to shrink in the rearview mirror, many in the mortgage industry are starting to breathe easier. Default rates have been dropping steadily and most forecasters expect that trend to continue. By all accounts, our industry is moving well into the recovery. However, for some players, including the nation’s banks and capital markets investors who have invested heavily in distressed loan portfolios, this is misleading.
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Goodbye plywood: Fannie Mae no longer allows plywood in pre-foreclosure

Servicers must replace plywood on existing properties
In November, Fannie Mae announced that mortgage servicers would be reimbursed for using clear boarding instead of plywood when securing houses that were in pre-foreclosure. That announcement was not retroactive, meaning it only applied to new pre-foreclosures. But that’s not the case anymore, as Fannie Mae announced this week that it is moving away from plywood entirely.
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An alternative perspective on neighborhood stabilization

Go beyond traditional retail disposition
When the U.S. real estate market collapsed in 2007, it not only triggered a recession and stock market crash, but it also sent nearly 9.3 million American homeowners into foreclosure. While in many respects the worst is now behind us, the reality is that the problem persists, with more than 930,000 properties currently in foreclosure or REO nationwide.
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Democrats declare opposition to Mnuchin, delay confirmation vote

Top Democrats speak out about Trump Treasury nominee
The Senate Finance Committee planned to meet Monday evening to vote on the confirmation of Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury. But that vote didn't happen. Senate Democrats instead moved to delay the vote, while other party leaders declared their opposition to Mnuchin as Treasury Secretary.
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Ohio becomes first state to ban plywood on vacant properties

Fight against blight takes next step forward
The fight against neighborhood blight took a giant step forward this week, as Ohio just became the first state to ban the use of plywood on vacant and abandoned properties. Under the state’s new laws, “no person shall use plywood to secure real property that is deemed vacant and abandoned.”
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New York unveils bill of rights for borrowers facing foreclosure

State takes final steps to implement new foreclosure laws
The state of New York is taking the next step in its fight against abandoned foreclosures and neighborhood blight by unveiling a consumer bill of rights for borrowers facing foreclosure. The consumer bill of rights reminds consumers of the various rights they have before, during, and after the foreclosure process.
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Homeowners facing foreclosure hit 9-year low

Black Knight report shows only 1% of all mortgages in active foreclosure
A new report from Black Knight Financial Services shows that by one metric, the housing market is healthier than it’s been since the crisis began. According to new data released Tuesday morning by Black Knight, the rate of loans in active foreclosure is lower right now than at any point in the last nine years.
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