The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Top 5 states with the most and least foreclosures

Plus: States with the biggest and smallest distressed inventories

CoreLogic’s (CLGX) new national foreclosure report shows there were 43,000 completed foreclosures in the United States in February 2014, down from 51,000 in February 2013, a year-over-year decrease of 15%.

“The stock of seriously delinquent homes and the foreclosure rate are back to levels last seen in the final quarter of 2008,” said Anand Nallathambi, president and CEO of CoreLogic. “The shadow inventory has also declined year over year for the past 3 years as the housing market continues to heal,  including double-digit declines for the past 16 consecutive months.”

There were 43,000 completed foreclosures in the United States in February 2014, down from 51,000 in February 2013, a year-over-year decrease of 15%. On a month-over-month basis, completed foreclosures decreased 13.1% from 50,000 in January 2014.

The states with the highest number of completed foreclosures are:

 

5) Georgia

34,000 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 5%

 

4) California

37,000 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 2.6%

 

3) Texas

39,000 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 3.6%

 

2) Michigan

50,000 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 3.6%

And the state with the most foreclosures is…

1) Florida

118,000 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 10.6%

Florida had the highest number of completed foreclosures, and the highest percentage of homes currently in serious foreclosure.

Click below for the five states with the lowest number of foreclosures, and the states with the highest foreclosure inventory as a percentage of all mortgage homes.

5) Wyoming

705 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 1.7%

 

4) West Virginia

571 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 3.1%

 

3) Hawaii

519 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 5%

 

2) North Dakota

421 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 1.2%

And the winner is…

1) District of Columbia

60 completed foreclosures for 12 months ending February 2014

Serious delinquency rate: 4.9%

Bonus:

The five states with the highest foreclosure inventory as a percentage of all mortgaged homes as of February 2014 were:

  1. New Jersey (6.2%)
  2. Florida (6.0%)
  3. New York (4.7%)
  4. Maine (3.4%)
  5. Connecticut (3.2%)

The five states with the lowest foreclosure inventory as percentage of all mortgaged homes as of February 2014 were:

  1. Wyoming (0.3%)
  2. Alaska (0.4%)
  3. North Dakota (0.5%)
  4. Nebraska (0.5%)
  5. Colorado (0.6%)

As of January 2014, Florida, California, New York, New Jersey and Illinois carried 42% of all distressed properties in the country. Florida continues to account for 15% of the nation’s distressed properties.

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