Tag Archive | "reos"
Nation’s Biggest Banks Each Hold over $20B in Foreclosures: Report
By: Carrie Bay New data released this week shows that the nation’s largest banks are holding monstrous volumes of soured home loans. Not only has the housing crisis left major lenders knee-deep in an ocean of non-performers, but added exposure to early delinquencies means they could sink even deeper. According to an analysis by Weiss […]
Continue reading...S&P: $460B Shadow Inventory Will Take 41 Months to Clear
Thursday, September 30, 2010
By: Carrie Bay It’s no secret that the volume of distressed residential properties is weighing heavy on U.S. housing markets and is prolonging any meaningful recovery. Of even greater concern is the industry’s growing backlog of homes thatneed to be liquidated and resold but have yet to make their way to the market – that […]
Continue reading...Housing Markets Becoming Less Saturated with REOs: Reports
Thursday, August 5, 2010
By: Carrie Bay The nation’s REO stock fell 0.6 percent in May to 524,000 properties, according to analysis released by Barclays Capital. In addition, the research firm estimates that housing’s shadow inventory – which Barclays defines as the supply of homes that are 90 or more days delinquent or in the process of foreclosure, meaning […]
Continue reading...Banks Repossess 4,000 South Florida Homes Per Month
Friday, July 16, 2010
By: Carrie Bay Banks took back an average of 4,000 South Florida properties each month during the first half of 2010, according to a new report from the locally based real estate consultancy Condo Vultures LLC. The region’s repos represent an 83 percent year-over-year increase for the tri-county area of Miami-Dade, Broward, and Palm Beach. […]
Continue reading...Regulators Point to Improving Loan Performance Across-the-Board
Monday, June 28, 2010
By: Carrie Bay Performance of home mortgages serviced by the largest national banks and federally regulated thrifts improved earlier this year, for the first time in more than 24 months. According to a report released Wednesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS), home loan […]
Continue reading...Lenders Reclaim $10 Billion of Commercial Property: Report
Monday, June 21, 2010
By: Carrie Bay Distressed commercial real estate is being reclaimed by lenders at a rapid pace, but relatively few assets are being marketed and re-sold. According to the research firm Real Capital Analytics, lenders acquired some $10 billion of commercial property during the first five months of this year – via foreclosure or negotiated settlement. […]
Continue reading...Shadow Inventory Variants Could Trigger Regional Price Declines: Report
Monday, June 14, 2010
By: Carrie Bay Regional variations in the shadow inventories of distressed U.S. mortgages could be an indicator of the direction home prices will take, according to a new report published by Standard & Poor’s Ratings Services. The company’s analysts say differences in the backlog of distressed properties point to which markets will see home prices […]
Continue reading...Loss Severity on Short Sales 13% Lower than REO: Report
Friday, June 11, 2010
By: Carrie Bay Over the past year, the mortgage risk analysis firm Clayton Holdings says it has witnessed an overall increase in short sale activity. Because of the growing emphasis on keeping borrowers out of foreclosure, servicers are becoming more inclined to employ alternative loss mitigation strategies. And Clayton says the added benefit to servicers […]
Continue reading...BofA Agrees to Pay $108 Million to Overcharged Countrywide Borrowers
Tuesday, June 8, 2010
Representing one of the largest judgments imposed in a Federal Trade Commission (FTC) case, two Countrywide mortgage servicing companies, now part of Bank of America Home Loans, have been ordered to pay $108 million to settle charges that they collected excessive fees from cash-strapped borrowers who were struggling to keep their homes. In a statement […]
Continue reading...U.S. Banks’ Foreclosure Holdings Increased 12.5% in Q1:
Monday, June 7, 2010
By: Carrie Bay Foreclosed property held by U.S. banks increased 12.5 percent to $41.5 billion during the first quarter of this year, according to a recent analysis by SNL Financial, a financial market research firm out of Charlottesville, Virginia. The company says banks’ aggregate foreclosed inventory is up from $36.9 billion at year-end 2009, and […]
Continue reading...Delinquencies Improving, but Total Distress Remains Elevated: LPS
Wednesday, June 2, 2010
By: Carrie Bay The number of unpaid mortgages in the United States declined again in April, but delinquency roll rates remain high, according to an industry report released Monday by Lender Processing Services, Inc. (LPS). The Florida-based analytics firm says that while signs of stabilization in the nation’s mortgage delinquency and foreclosure rates may be […]
Continue reading...Ocwen Buys HomEq Servicing for $1.3 Billion
Tuesday, June 1, 2010
By: Carrie Bay Barclays said Friday that it has agreed to sell HomEq Servicing, its U.S. mortgage servicing business, to Ocwen Loan Servicing, LLC. Ocwen will pay $1.3 billion “in cash on completion,” Barclays said. The transaction aligns the two companies with the highest modification conversion rates under the Home Affordable Modification Program (HAMP). The […]
Continue reading...Johnny O and Jenna want to come to your Memorial Day Party…
Friday, May 28, 2010
Johnny O and Jenna want to come to your Memorial Day Party… …..But Mark is staying behind!! …So what time should we get there? Have a Great Memorial day from your friends at NyOnlineRealty.com! Have a happy day… let’s be in the solution together! John E. O’Neill IV NyOnlineRealty.com Sales & Marketing Supervisor Real […]
Continue reading...U.S. Thrifts Turn $1.8B Profit Despite Mounting Foreclosures
Wednesday, May 26, 2010
The nation’s thrift industry posted profits of $1.82 billion in the first quarter of 2010, the Office of Thrift Supervision (OTS) reported this week. According to the regulator, the Q1 data indicates that thrifts generally are stabilizing despite continued pressures stemming from delinquent loans and still-rising foreclosures. The positive first quarter earnings were up from […]
Continue reading...HUD Lobbies for More Federal Funding to Stabilize Housing Markets
Thursday, May 20, 2010
HUD Secretary Shaun Donovan is asking Congress to release additional funds to help communities combat the ongoing effects of the housing crisis and home foreclosures. He says the Obama administration is committed to working with lawmakers to secure a third round of funding for HUD’s Neighborhood Stabilization Program (NSP). The federal agency has disbursed $6 […]
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Friday, October 22, 2010
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