True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Real Estate

2016 foreclosures dropped more than any year on record

Rate of foreclosures fell 30%

Foreclosure rates dropped more than any year on record in 2016, according to the first look at December 2016 mortgage data report by Black Knight Financial Services, a Fidelity National Financial company and a provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

Foreclosures dropped by 30% in 2016, and the inventory of loans in active foreclosure declined by more than 200,000 loans, according to the report.

Another report showed that foreclosure activity dropped significantly in 2016 to its lowest point in 10 years, according to the 2016 U.S. Foreclosure Market report from ATTOM Data Solutions, a fused property database.

For the month, December’s 59,700 foreclosure show a decline of 24% from the same time last year. Delinquencies also decreased by 0.91% monthly and 7.5% from December 2015.

While some states saw delinquency rates much higher than the national average, most still saw significant improvement from the previous year.

Here are the top 5 states with the highest 90+ days delinquency rates:

5. Tennessee – 1.97%

This state dropped 16.33% from 2015

Tennessee

4. Arkansas – 2.12%

This state dropped 11.07% from 2015

Arkansas

3. Alabama – 2.37%

This state dropped 15.86% from 2015

state

2. Louisiana – 3.25%

Contrary to the downward trend, this state increased 12.27% from 2015

Shreveport

1. Mississippi – 3.44%

This state dropped 15.24% from 2015

Mississippi

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