Servicing

Foreclosure-related sales made up 26% of all home sales through the first three months of 2012, up from 22% in the last quarter of 2011 and 25% seen a year ago.

The 30-year dropped three basis points to 3.75% with an average of 0.8 of a point while the 15-year slid seven basis points to 2.97% with an average of 0.7 of a point.

The 10-year Treasury yield continued to set new record lows Thursday morning due to a mix of negative economic indicators both overseas and in the domestic market.

The national mortgage fraud risk index decreased 4.3% in 1Q 2012 from the previous quarter and 3.1% from a year ago.

Servicing is rapidly deconsolidating as the top five no longer control more than half the market, while originations, which were consolidating after the crunch as tens of thousands left the mortgage broker business, have at least ceased consolidating.

The housing crisis is one of the longest lasting effects of the economic recession, with home foreclosures continuing to stain our economy. As more homes enter and remain in foreclosure, the servicer (whether on its own or on behalf of the investor) is responsible for maintaining these properties per local and state regulations. And mobile apps have added a new tool servicers can use in the field.

Three separate businesses each had a series of nonperforming loans that are classified as specially serviced assets recently downgraded by Fitch Ratings because future losses are expected on these loans.

Wilshire State Bank has been released from an enforcement order that required it to boost its capital ratios and reduce its level of problem loans.

Five states accounted for nearly half the total of foreclosures that occurred over the past year through April 2012, CoreLogic’s national foreclosure report revealed.

The Demand Institute predicts that average home prices will increase by up to 1% in the second half of 2012. By 2014, home prices are expected to rise by approximately 2.5%, and from 2015 to 2017, values are projected to go up between 3% and 4%.