Items Tagged with 'Foreclosure'

ARTICLES

4 ways servicers can reduce financial risk of default properties

Consolidating multiple systems provides greater control and improves overall vendor management
The number of houses in foreclosure continues to drop across the country. With increased scrutiny from investors and regulators, servicers have to be proactive about managing their default properties in a way that also manages their risk. Aspen Grove Solutions outlines four areas servicers should focus on.
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CFPB publishes 900-page final rule on mortgage servicing

NAFCU pushes back against new rule's "unintended consequences"
In a wide-ranging final rule for mortgage servicers, the CFPB has expanded protections for consumers in several key areas, including providing borrowers with foreclosure protection more than once over the life of the loan, expanding consumer protections to surviving family members and clarifying loss-mitigation timelines during servicing transfers.
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RealtyTrac: More homeowners are avoiding foreclosure than ever before

New report shows that foreclosure starts hit record low in first half of 2016
A new report from RealtyTrac shows that more homeowners are keeping their homes out of foreclosure than ever before. According to RealtyTrac's report, the number of homes that started the foreclosure process during the first half of 2016 was the lowest for any half-year period since the company began tracking foreclosure starts in 2006.
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New York launches "first of its kind" program; will buy delinquent mortgages from FHA

NYC set to buy loans to keep homeowners out of foreclosure
In what officials are calling a "first of its kind" program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details.
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New York adopts "sweeping" new laws to tackle foreclosure problems

Will fight rise of zombie homes; new rules imposed on lenders, servicers
While the U.S. Senate could soon consider new rules governing the maintenance of foreclosed homes and the glut of "zombie homes" that blight many communities throughout the country, the state of New York is taking the matter into its own hands. Late last week, New York Gov. Andrew Cuomo signed "sweeping" legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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Mortgage companies hiring for job that shouldn’t exist

Back-peddling from mistakes made pre-housing crisis
Recruiters are hiring for a position for mortgage companies that really shouldn’t exist. Bad lending practices before the housing crisis, however, may have made it necessary for companies wanting to precede on foreclosures. The problem? It’s not exactly legal.
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Black Knight: Foreclosure starts hit 10-year low

Down nearly 20% from March to April
There were fewer foreclosure proceedings initiated during the month of April than in any month in the last 10 years, a new report from Black Knight Financial Services shows. Plus the number of loans in active foreclosure fell to a level not seen since 2007. Here are all the details.
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