Residential properties that are in some state of foreclosure rose 30% in the third quarter and doubled on a year-over-year basis, to 446,726 units, according to new figures released by RealtyTrac, Irvine, Calif.Nevada had the highest foreclosure rate in the nation, with one filing for every 61 households, according to RealtyTrac, a mortgage information company. After Nevada, California (one for every 88 households) and Florida (one for every 95) had the highest incidence of foreclosures. California, though, saw its foreclosure filings quadruple to 148,147 incidences from those of a year earlier. Other states ranking among the top 10 in foreclosures include Michigan, Ohio, Colorado, Arizona, Georgia, Indiana, and Texas. RealtyTrac can be found online at http://www.realtytrac.com.
-
Title insurers, whose activity is highly correlated to mortgage production, wrote $15.1 billion in premiums during 2023, down from $21 billion in 2022 and $26.2 billion for the year before that.
15m ago -
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
1h ago -
Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
1h ago -
A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
3h ago -
Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
3h ago -
The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.
3h ago