Pre-foreclosure filings totaled just over 100,000 in July, an increase of 27% from the level recorded in June, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm.The 100,421 filings, up from 79,018 in June, the company said. "The numbers are dismal, but we had better get used to it because the bloodletting likely will continue for another 12 to 18 months," said Alexis McGee, president of the firm. She added, however, that the foreclosure outlook should not be a cause for panic. "In spite of the housing industry's troubles, the nation's economy, as measured by the 3.4% second-quarter growth in the U.S. Gross Domestic Product, is going strong, and so is current consumer confidence in it," she said. The company can be found online at http://www.foreclosures.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
10h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
10h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25