The typical seasonal pattern is for bad loans to increase because of tight finances as a result of holiday spending.
The city of Los Angeles is seeking damages for reduced property tax revenue and the costs of maintaining foreclosed properties, the complaint says.
A lawsuit has been filed questioning the Federal Housing Finance Agencys decision to block municipalities from using eminent domain to modify a distressed borrowers mortgage and prevent foreclosures.
The City Council unanimously approved a plan to make market-value offers on toxic loans and reissue them to homeowners.
Cities and federal agencies have new requirements for maintaining foreclosed assets, so property preservation and servicing executives now spend lots of time poring over local codes.
A continuing reduction in bank-owned foreclosure inventories alongside third-quarter existing home inventory increases suggests inventory bottomed early in 2013.
The percentage of U.S. commercial real estate loans that are 30 or more days late has dropped 268 basis points since reaching an all-time high of 10.3% in the summer of 2012.
For the second time in 2013, Charles Head was convicted by a federal jury in the Eastern District of California for operating a major mortgage fraud scheme.
The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlementsmostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.
Since the fall of 2011, national property values are up 17%. But in November, quarterly growth was 1.8%, down from the previous quarters 3.3% uptick.
Borrowers whose homes were damaged by the November tornadoes are being offered mortgage relief options by the government-sponsored enterprise including forbearance for up to one year.
More homeowners will put their homes up for sale next year and increase the supply.
If Congress allows the Mortgage Forgiveness Debt Relief Act to expire, homeowners who restructure their mortgages or are foreclosed upon would be required to pay taxes on canceled debt.
Despite existing home transactions being low and recent construction activity remaining below normal levels, all 42 counties tracked by DataQuick reported an increase in property values.
Affordability issues will reduce the stock of potential homebuyers.