In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.
The court asked another governmental entity to remedy the plight of non-borrowing spouses facing foreclosure. So far options appear to give few consumers relief.
The number of homes lost to foreclosure in September fell to 46,000, according to data from CoreLogic.
The three-year-old U.S. consumer protection agency said it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January.
Residential real estate property price gains continued in August, albeit by a shrinking margin, according to Black Knight Financial Services.
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