Items Tagged with 'Foreclosure'

ARTICLES

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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HUD watchdog: Servicer foreclosure delays cost FHA $2.23 billion

Report finds FHA overpaid servicers due to foreclosure, conveyance delays
A new report from a government watchdog shows that mortgage servicers’ delays in foreclosing on properties and subsequent delays in the conveyance of those properties to the Federal Housing Administration cost the FHA as much as $2.23 billion in unnecessary payouts.
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EXCLUSIVE: Caliber Home Loans sued by Chronos Solutions over nearly $3 million in unpaid bills

Caliber, Lone Star Funds accused of not paying expenses on foreclosures
The New York Department of Financial Services is already reportedly looking into how Caliber Home Loans and its parent company, Lone Star Funds, after receiving complaints from consumers about how the companies handle foreclosures. But now, the companies have another fight on their hands over their foreclosure practices, and it comes from an unlikely source – one of their own vendors.
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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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