Let Valuation Tech Help Improve Your Collateral Valuation

Join this webinar to learn how technological advancements in valuation provide solutions to help lenders and servicers deliver more comprehensive offerings to their clients.

Talking proptech with FinLedger Director Holden Page

In this episode, Page discusses the hottest topics coming across FinLedger’s news desk. Topics include: the online banking market, what’s happening in the proptech space and recent private market deals.

With a reinvigorated CFPB, what’s next for the NYDFS?

While the CFPB is reinvigorated under the Biden administration, there’s plenty of room for it to retake a leading role and coordinate with the NYDFS.

Does your CRM hurt or help the customer experience?

In real estate, data is king. The more you leverage your own data the better off your agents or loan officers will be because they’ll be able to identify, target and create better customer experiences.

Mortgage

Fewer Americans are filing for foreclosures

February marks 8th consecutive month of annual decrease in foreclosure activity

There was a moderate drop in foreclosures in February, according to ATTOM Data Solutions' latest Foreclosure Market Report.

According to the Foreclosure Market Report, there was a 3% decline from the previous month and an 11% year-over-year decrease from 2018.

Notably, only 54,783 U.S. properties were listed as foreclosure filings, default notices, scheduled auctions or bank repossessions. This marks the eighth consecutive annual decrease in foreclosure activity.

The Foreclosure Report analyzes the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. 

The report is based on data collected from more than 2,200 counties nationwide, accounting for more than 90% of the U.S. population.

ATTOM’s analysis indicated that during the month of February, banks repossessed 11,392 U.S. properties. This total is down 7% from January and 12% percent from a year ago.

Furthermore, 29,735 U.S. properties started the foreclosure process in February, rising just 1% from the previous month but still 9% below 2018’s level.

Overall, New Jersey topped the list of housing markets with a foreclosure filling rate of one in every 1,006 housing units, followed by Delaware with one in every 1,008 housing units; Maryland with one in every 1,193 housing units; Florida with one in every 1,365 housing units and Illinois with one in every 1,465 housing units.

However, foreclosure rates countered nation trend, increasing year-over-year in 13 states including Florida, up 68%; Oregon, up 46%; Louisiana, up 34%; Illinois, up 9%; Texas, up 9%; and Colorado, up 3%.

NOTE: For this report, ATTOM Data Solutions analyzed sales deed data.

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Will we ever see a “normal” housing market again?

The question on everyone’s minds: When will this hot housing market cool down? Arch MI investigates this and more in its Spring Housing and Mortgage Market Review.

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3d rendering of a row of luxury townhouses along a street

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