Foreclosures continue to reach new highs every month in Massachusetts, making the first quarter the highest on record for foreclosures, according to ForeclosuresMass.com, a provider of foreclosure data based in Framingham, Mass. The company said 9,114 foreclosures were recorded in the first quarter, up 38% from the level of a year earlier. "Despite all of the attention being given to the foreclosure issue, nothing has changed," said Jeremy Shapiro, president and co-founder of ForeclosuresMass. "Homeowners facing foreclosure should not wait for a miracle cure to this problem. Rather, they should seek the help of qualified professionals to help them avoid foreclosure." The company can be found online at http://www.foreclosuresmass.com.
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Also, South River Mortgage appointed Tyler Plack as its next CEO, while First American Home Warranty welcomed Jason Gritters as its chief revenue officer.
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A continuing resolution to fund the government through mid-December would prevent the White House from blocking grants — including some in the banking sector — to states and municipalities that voted against President Donald Trump.
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Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.
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Besides the opportunities in build-to-rent housing for mortgage originators, credit profile of single-family rental loans should improve, Morningstar DBRS said.
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The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.
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The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.
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