Mortgage Servicers Resume Securitizing Repayment Rights
Residential mortgage servicers are once again tapping the securitization market to fund advances to bondholders for the first time since April 2014.
People Movers of the Week: Aug. 28
Mortgage professional hiring and new job appointments for the week ending Aug. 28.
Tax Sale for Delinquent Properties in Indiana Will Proceed
Indiana legislators made changes to get blighted properties out of local government tax sales -- but not in time to affect Friday's annual sale of liens for tax-delinquent properties in Evansville.
Toledo Fifth in Foreclosed-Home Sales
Nearly one out of every seven home sales in metro Toledo involves a property that is in the foreclosure process, a sign that the local housing market has not fully moved from an investor-driven market to one that is mainly driven by traditional buyers.
Walter Investment Gets OK to Hold $3.3B in Servicing Rights
Walter Investment Management has received approval from Freddie Mac to hold the mortgage servicing rights on $3.3 billion in residential mortgage loans.
HUD Program Failed to Detect Residency Issues: Report
The Department of Housing and Urban Development's policies governing the Home Equity Conversion Mortgage program failed to detect instances where borrowers failed to comply with residency requirements, according to a report.
In-Foreclosure Sales Drop to 15-Year Low: RealtyTrac
The share of properties sold during the foreclosure process continued to drop in July as the housing market continued on strong footing, according to RealtyTrac.
Quicken, Home Depot to Detail Detroit Home Renovations
Quicken Loans, Home Depot and city officials announced details of a project to renovate 65 Detroit homes and auction them through the city's land bank in a bid to boost property values in four neighborhoods.
Augusta, Ga., Foreclosures Higher in July
Foreclosure activity for the Augusta metro area was higher in July, according to real estate data firm RealtyTrac.
Eugene, Ore., House of Former Rental Property Manager in Foreclosure
Terry and Pamela Shockley's Eugene house is in foreclosure and scheduled to be sold to the highest bidder in late December, according to Lane County property records.
'Shame Campaign' Launched in Buffalo
A "shame campaign" intended to prod banks into quicker resolutions on foreclosed homes was launched in Buffalo's Old First Ward.
East Bay Developer Pleads Guilty in Loan Fraud Case
The former president of a major Northern California real estate development firm has pleaded guilty to a mortgage plot that defrauded lenders into approving loans for hundreds of unqualified buyers during the 2006-08 financial crisis, costing banks $75 million.
Double-Edged Sword for Mortgages as Market Fears Drive Rates Down
The global market turmoil could be good for mortgage lenders if a further drop in long-term interest rates sparks another refinancing wave. It also could spell trouble for those that have not properly hedged their servicing rights.
Rising Rents Help Revive Home Construction in Orlando Area
After renting for years and cleaning up her foreclosure-bruised credit, Hunters Creek resident Tabetha Morway just purchased a new house with mortgage payments less than her rent.
Niagara County Tax Foreclosure Auction a Success
Niagara County Treasurer Kyle Andrews considers last week's tax foreclosed real estate auction a "success."