Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

Mortgage

HOPE NOW: 39,000 homeowners saved from foreclosure

Continues steady pace of mortgage solutions

An estimated 39,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month of October, according to HOPE NOW’s monthly loan modification data.

This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program.

The combination of total loan modifications, short sales, deeds in lieu and workout plans were approximately 157,000, compared to approximately 39,000 foreclosure sales for the month.

In addition, since the beginning of 2014, mortgage solutions continue to outpace foreclosure sales by a margin of four to one. 

Of the permanent loan modifications completed in the month of October, an estimated 29,000 were through proprietary programs and 10,023 were completed through HAMP.

“Loan modifications and total workout solutions continued at a steady pace in the month of October. We still see these solutions outpacing foreclosure sales by a large margin. In fact, the number of completed foreclosure sales has remained flat for most of 2014. This is further evidence of a housing recovery nationwide,” said Eric Selk, executive director.

Meanwhile, foreclosure starts declined in October, with approximately 65,000 for the month, compared to 77,000 in September – a decrease of 15%.

Delinquencies of 60 days or more were under two million – at approximately 1.91 million. This represented a slight decrease (2.3%) from the previous month (1.96 million).

Most Popular Articles

Are we back to a normal housing market?

Favorable demographics should keep the housing market ticking. But watch for home prices escalating out of control and rates moving up sharply, writes columnist Logan Mohtashami. HW+ Premium Content

Jul 26, 2021 By

Latest Articles

Blend launches housing equity program

Blend has launched Blend Impact, a program focused on increasing equity in housing and financial services with Blend’s nonprofit partners.

Jul 28, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please