30-Day Rate Up Despite Drop in Foreclosure Rate
The foreclosure inventory fell to a more than decade low. Improvement in the foreclosure rate was more than offset by hurricane-related deterioration in the 30-day rate.
Mortgage Delinquency Soars, Hurricanes Blamed
The quarterly non-current mortgage rate surged 58 basis points, with government-insured performance taking the biggest beating. Much of the blame was ascribed to the effects from the recent hurricanes.
Overcoming Statute of Limitations in Foreclosures
Challenges to mortgage lenders and servicers' right to foreclose based on the expiration of the statute of limitations are rapidly increasing in the Pacific Northwest and Southwest regions.
Serious Mortgage Lates, Foreclosures at Decade Low
Monthly home loan performance remained strong, with the rates of serious mortgage delinquency and foreclosure at their lowest levels in a decade.
Hurricanes Behind Soaring Mortgage Delinquency
One-month delinquency on mortgages soared nearly a half-percentage point last month driven by deterioration in states impacted by the recent hurricanes.
Mortgage Delinquency Inches Up
A mild month-over-month rise in the non-current single-family rate was reported. Areas driven by oil production have seen increasing serious mortgage delinquency.
Bank Delinquency, Servicing Portfolios Decline
Delinquency and foreclosures on bank-serviced mortgages continued to show quarterly improvement, and the servicing portfolios of big banks continued to diminish.
Bankruptcy Ruling Benefits Foreclosing Parties
The 9th Circuit Court of Appeals has barred claims due to the borrower's failure to amend include the claims in their bankruptcy schedules.
BofA Could Avoid Massive Foreclosure Judgment
Bank of America Corp. has reached a settlement with a California couple in a wrongful foreclosure action for far less than a massive judgment imposed earlier this year.
Mortgage Delinquency Up, Hurricane Impact Begins
While the foreclosure rate eased last month, mortgage delinquency edged higher. Loan performance is beginning to be impacted by hurricane activity.
Loan Modification News
Loan modification activity, reports and legislation.
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