2010 | The REO & Foreclosure Specialist

SBA Offers Government Guarantees on Securitized Mortgages

8. July 2010

By: Carrie Bay The U.S. Small Business Administration (SBA) recently announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first mortgage loans. The federal agency called this “a major step to jump-starting a secondary market” that will make financing more accessible for small businesses. The […]

Las Vegas Year-Over-Year Home Sales Drop for First Time in 21 Months

7. July 2010

0 Comments

By: Brittany Dunn As fewer foreclosed properties sold and the impact of the federal homebuyer tax credit began to fade, May marked the first time in 21 months that Las Vegas region home sales dropped below the year-ago level, MDA DataQuick recently reported. According to the San Diego-based property data provider, a total of 4,386 […]

Delinquencies Inch Up in May, Foreclosure Inventories Remain Flat: LPS

6. July 2010

0 Comments

By: Brittany Dunn The seasonal improvement period for delinquencies and foreclosure inventories has come to a halt, according to an industry report released Thursday by Lender Processing Services (LPS). The Florida-based analytics firm’s monthly Mortgage Monitor report found that the total U.S. delinquency rate jumped to 9.2 percent in May, inching up 2.3 percent from […]

Tenant Eviction Attorney Needed

2. July 2010

0 Comments

We are looking for a Tenant Eviction Attorney that works in Nassau and the Brooklyn area. If you email me at jobs@nyonlinerealty.com just put Eviction Attorney in the subject line.

VA Extends Mortgage Relief to Veterans Affected by Gulf Oil Spill

2. July 2010

0 Comments

By: Carrie Bay The Department of Veterans Affairs (VA) has joined federal agencies Fannie Mae and Freddie Mac in offering mortgage relief to borrowers who may be impacted by the BP oil spill still ravaging the Gulf Coast. The VA recently issued a notice to servicers of VA-guaranteed home loans instructing them to “extend every […]

Great office/ Storefront for rent: Farmingdale, NY

1. July 2010

0 Comments

Great office/ Storefront for rent: Farmingdale, NY Building has been renovated inside and out! This is a amazing storefront, can be used as a store or office. Close to everything. Great price! It has plenty of space for any business. Has a kitchen, outdoor area, great character, Good parking CALL today 516-798-3000 ex 224 Email […]

Financial Reform Legislation Calls for HVCC Replacement

1. July 2010

0 Comments

By: Carrie Bay The Home Valuation Code of Conduct (HVCC) instituted by Fannie Mae and Freddie Mac in May of last year has been a topic of heated debate and driven a wedge between industry players since it took form. The GSEs say it has eliminated undue influence and conflicts of interest on appraisals, while […]

Short sales are a way out …

30. June 2010

0 Comments

If you feel you are facing a foreclosure and want to get out with your credit alive. There is something called a short sale. A short sale can save your credit and you can feel better again. CALL us today at 516-798-3000 ask for John or MaryAnn and they can help you out. Or email […]

Florida Reps. Introduce Bill to Protect Gulf Residents from Foreclosure

30. June 2010

0 Comments

By: Brittany Dunn U.S. Reps. Jeff Miller (R-Florida) and Adam Putnam (R-Florida) have introduced legislation to provide mortgage forbearance to homeowners in the areas affected by the BP oil spill. “People in Northwest Florida are already dealing with the impact of oil on their shores and are worried about the long-term economic and environmental impact […]

Government Agencies Hold 46% of REO Inventory…and More Is Coming

29. June 2010

0 Comments

By: Carrie Bay As the GSEs and other federal agencies involved in housing finance sell their collective inventory of repossessed homes, they will generate significant pressure on prices, according to a new report from the real estate analytics firm Radar Logic. And with an even larger share of government-backed loans in the delinquency pipeline, their […]

Regulators Point to Improving Loan Performance Across-the-Board

28. June 2010

0 Comments

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 […]

Ocwen’s HAMP Trials Adhere to 3-Month Timeframe

25. June 2010

0 Comments

Ocwen Financial Corporation, a Florida-based servicer of subprime mortgages, continues to find its name at the top of the list of key performance metrics when it comes to the federal government’s Home Affordable Modification Program (HAMP). The U.S. Treasury’s just-released HAMP record card MHA Public 062110.pdf puts Ocwen in the upper echelon on several critical […]

Fed Maintains Near-Zero Interest Rate

24. June 2010

0 Comments

By: Carrie Bay The Federal Reserve decided Wednesday to keep the target range of its benchmark federal funds rate at 0 to 0.25 percent – a level it’s maintained for a year and a half now. The continued holding pattern was widely expected, although central bank officials noted in their monetary policy statement that market […]

Pre-Foreclosure Notices Facilitate Targeted Outreach in New York

23. June 2010

0 Comments

By: Carrie Bay Ninety-day pre-foreclosure notices have been sent to 57,256 New York homeowners who have fallen behind on their mortgage since February 13, 2010, according to the New York State Banking Department. The five counties with the highest number of pre-foreclosure filings on owner-occupied homes in the state are Suffolk with 8,293, Queens with […]

Government Gives Itself High Marks on New Housing Scorecard

22. June 2010

0 Comments

By: Carrie Bay The U.S. Treasury and HUD on Monday released a new monthly scorecard, touting the success of the administration’s full scope of efforts to stabilize the nation’s fraught housing industry. HUD Secretary Shaun Donovan called the new scorecard a snapshot of the “total picture,” illustrating just how far the market has come back […]

Archive | 2010