Mortgage delinquency and foreclosure rates in March declined to levels not seen in at least six years, according to data from Black Knight Financial Services.
Regulator Benjamin Lawsky is concerned that Hubzu, a website run by Ocwen's Alitsource affiliate, charges inflated fees "through conflicted business relationships" at the expense of mortgage investors and strapped homeowners.
Perpetrators fraudulently acquired close to 40 homes, and used at least one to grow marijuana when it became vacant.
The recent housing recovery has been the saving grace for some 2005-2007 subprime mortgage bonds, but in others, delays in getting distressed properties to market have offset home price gains.
Distressed homeowners who obtained loan modifications fell to approximately 42,000 in February, a 5% decrease from the month before and a sign that the number of borrowers needing assistance is declining, according to the Hope Now alliance.
From Our Blogs
»The Role of Property Preservation in Curing Community Blight
»Servicing Trend: Better REO Outsourcing
»Property Preservation in a Changing REO Environment
»FHA, Fannie and Freddie: What's Government's Role in Housing?
»Distressed Market Has Peaked, but Opportunities Remain
»Tips for Choosing the Best REO Market
»Fewer Speed Bumps on Road to Recovery
»REO to Rental: Cultural Transitions
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