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27. August 2010

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Foreclosures and Late-Stage Delinquencies Drop

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Tweet By: Carrie Bay Foreclosure starts dropped during the second quarter and the inventory of homes in the process of foreclosure fell for the first time since 2006, the Mortgage Bankers Association (MBA) reported Thursday. Loans 90 days or more […]

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26. August 2010

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Chase Moves to Speed Loan Mod Evaluations

Tweet By: Carrie Bay Chase, the consumer and commercial banking arm of New York’s JPMorgan Chase & Co. says it “remains committed to helping customers avoid foreclosure.” In an announcement issued Wednesday, the bank outlined several key initiatives it has undertaken to better serve borrowers who are struggling with their mortgage payments. Over the last […]

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25. August 2010

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Nearly Two-Thirds of Delinquent Mortgages Untouched: Study

Tweet According to a new report from state attorneys general and bank supervisors from across the country, more than 60 percent of homeowners with seriously delinquent loans are still not involved in any form of loss mitigation with their servicer. The ratio is disconcerting considering the group also found that one of servicers’ primary loss […]

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24. August 2010

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Housing Market Continues to See First-Time Buyer Exodus

Tweet By: Carrie Bay First-time homebuyers continued to desert the housing market in July, according to a new industry study released Monday. Data compiled by Campbell Surveys and Inside Mortgage Finance, shows that first-time homebuyers accounted for only 39.1 percent of the home purchase market last month. That’s down from a peak of 48.2 percent […]

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23. August 2010

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NY Banking Department Issues New Regulations for Mortgage Servicers

Tweet By: Heather Hill Cernoch In its efforts to protect homeowners and avoid another mortgage and foreclosure crisis, the New York State Banking Department has issued new rules regarding the business practices of mortgage loan servicers. The regulations, which go into effect October 1, implement provisions from 2008’s Mortgage Lending Reform Law to create consumer […]

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19. August 2010

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As Servicers Shift Focus from HAMP, Completed Mods Near 1M Mark

Tweet By: Carrie Bay The industry has completed about 975,000 permanent loan modifications so far in 2010, according to estimates released this week by the HOPE NOW Alliance. Of those, just over 331,000 have been processed under the umbrella of the federal government’s Home Affordable Modification Program (HAMP), while nearly 644,000 have been restructured using […]

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18. August 2010

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Industry Stakeholders Descend on Washington to Debate GSE Reform

Tweet Will Fannie Mae and Freddie Mac still be here in three years? Or will they be replaced by a new federal mortgage agency? Will the government begin a grand exodus from the housing market and leave the American Dream to the private sector? These were the questions addressed Tuesday at the administration’s housing finance […]

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17. August 2010

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Fed Issues New Mortgage Disclosure and Compensation Rules

Tweet The U.S. Federal Reserve on Monday published a long list of new rules intended to protect consumers from what the central bank describes as “unfair, abusive, or deceptive lending practices.” The documents outline new requirements that will govern compensation to mortgage professionals and disclosures to borrowers regarding their home loans. The Fed announced final […]

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16. August 2010

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Study Shows Foreclosure Lowers a Property’s Value by 27%

Tweet By: Carrie Bay Foreclosed homes permeate the American landscape. According to data from the Massachusetts Institute of Technology (MIT), they make up about one in 12 houses with under $1 million left on the mortgage. These foreclosures drive down home prices, and MIT gives two reasons for their depreciating effect – because foreclosed homes […]

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12. August 2010

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REO Foreclosure: East Hampton, NY

Tweet REO Foreclosure: East Hampton, NY 3 bedrooms, 1 bath Great price at 250,000   Great Property Located In East Hampton On Nice Size Lot This Ranch Home Offers 3 Bedrooms,Full Bath,Full Basement,This Home Is Sold As Is And Is Need Of Tlc..   Get a great new property NOW! Talk to one of our […]

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12. August 2010

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REO Foreclosure: Staten Island, NY

Tweet REO Foreclosure: Staten Island, NY 4 bedrooms, 2 bath Opportunity Knocks To Own This 2 Family Semi Attached Commercial Property Offering Two Bedrooms Full Bath Up And Two Bedrooms Full Down With Part Basement.. In Need Of Tlc… Get a great new property NOW! Talk to one of our talented and wonderful agents today! For […]

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12. August 2010

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REO Foreclosure: Hempstead, NY

Tweet REO Foreclosure: Hempstead, NY 4 Bedrooms, 1 bath Priced at 129,900 Great Buy On This 2 Story Home Offers 4Bedrooms Full Bath, Gleaming Hardwood Floors, Full Basement, 2 Car Det Garage. Buy And Restore This House And Make It Home..          Get a great new property NOW Talk to one of […]

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12. August 2010

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REO Foreclosure: Jamaica, NY

Tweet REO Foreclosure: Jamaica, NY 3 Bedrooms, 1 bedrooms Priced right at 124,900 Great Opportunity To Own This Colonial Home Located In Queens Offering 3Bedrooms Full Unfinished Basement. Property Sits 24X100 Lot Come Give This Home Tlc And Make This A Gracious Colonial.    Get a great new property NOW! Talk to one of our […]

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12. August 2010

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Foreclosures Deviate from Downward Trend, Jump 4% in July

Tweet RealtyTrac reported Thursday that foreclosure filings increased four percent in July – an abrupt departure from the previous three months, which saw consecutive declines in foreclosure activity. However, even with filings on a total of 325,229 properties during the month, July’s numbers represented a 10 percent decrease compared to July 2009. One in every […]

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11. August 2010

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Lenders Out $310M from ‘Preventable’ Short Sale Losses: CoreLogic

Tweet By: Carrie Bay The number of short sales has more than tripled since 2008, with the estimated annual volume now at 400,000, according to the real estate data and analytics firm CoreLogic. The hard-hit housing markets of California, Florida, and Arizona, along with Texas, are seeing the most activity, CoreLogic said in its 2010 […]

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