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

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 Short […]

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Loss Severity on Short Sales 13% Lower than REO: Report

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 […]

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Short Sales…A Breeding Ground for Fraud?

By: Carrie Bay With defaults continuing to mount and declining property values still widespread, the industry is seeing an increase in short sales. Such transactions are expected to burgeon even further now that the federal government has implemented its Home Affordable Foreclosure Alternatives (HAFA) program. Under HAFA, servicers participating in the administration’s foreclosure prevention effort […]

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