twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/


Foreclosures Turn Higher, REOs to Rise

228,098 filings in August

Sept. 15, 2011

By MortgageDaily.com staff


A big improvement in new foreclosure filings during July was wiped out last month. Fewer filings were made, however, than a year ago. Completed foreclosures eased but appear poised to rise.

Foreclosure filings include notices of default and lis pendens, notices of trustee sale and foreclosure sale, and real-estate-owned actions.

During August, total filings were made on 228,098 properties.

That was according to RealtyTrac.

Filings climbed from 212,764 in July.

RealtyTrac Chief Executive Officer James Saccacio said the increase might signal that servicers are beginning to move some of the foreclosures delayed by robo-signing and other documentation problems.

But foreclosure activity was lower than 338,836 filings in August 2010.

Year-to-date Aug. 31 filings amount to around 1,611,264.

California maintained its title as the state with the most foreclosures: 59,383. Golden State activity was worse than 56,193 filings in July.

Florida again followed, with the number rising to 23,569 from 22,337. After that was Michigan's 13,016, Illinois' 12,493 and Georgia's 11,743.

In all, the top five states accounted for 53 percent of all U.S. filings.

228,098 filings in August

With only nine total filings, Vermont registered the fewest foreclosures.

The rate of U.S. foreclosures was one filing for each 570 housing units, a deterioration from one-in-611 filings in July. The rate was better, though, than one filing for each 381 housing units during August of last year.

Nevada's one-in-118 rate was the worst of any state. It was the 56th consecutive month that the Silver State topped this category. But it was a little better than Nevada's one-in-115 rate a month earlier.

Drilling down to Las Vegas, the rate deteriorated to one-in-103 -- the worst of any metropolitan area.

A filing was made in California for each 226 housing units. Arizona's rate was one-in-248, while Georgia's one-in-346 was next, then Idaho's one-in-348.

The country completed 64,813 foreclosures in August, fewer than 67,829 REO filings in July.

It was a big improvement from 95,364 repossessions during August 2010.

But the lull might only be temporary, suggested Saccacio. He explained that the increase in default notices "foreshadows more bank repossessions in the coming months."

From Jan. 1 to Aug. 31, RealtyTrac data indicates that a total of 552,950 REOs were filed.

REO filings in California fell to 11,718 from July's 13,092.

Florida's REO filings were less than half California's level: 5,096.

Georgia had 4,323 REO filings, then 4,009 in Michigan and 3,816 in Texas.

Just nine REOs were reported for Vermont.


next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders