Mortgage defaults

The mortgage industry completed 411,000 loan modifications in the second quarter that did not involve a foreclosure, a 7% decline from the previous quarter, according to the Hope Now organization.

Fannie Mae has announced the winning bidder for two pools in its second nonperforming loan sale, which includes roughly 3,900 loans carrying a total of $765 million in unpaid principal balance.

Ocwen Financial has partnered with several local organizations to sponsor seminars to help homeowners stay in their homes.

Bank repossessions of distressed homes hit a 30-month high in July, as financial institutions continue to work through the backlog of bubble-era loans.

Consumer credit default rates remained stable during the month of July, according to credit bureau Experian.

Sabal Financial Group has put a $541 million portfolio of real estate loans up for sale.

The Federal Housing Administration's Neighborhood Watch website is back online after crashing about three weeks ago.

Freddie Mac has begun an auction of delinquent nonperforming loans serviced by Ocwen Financial.

It was a small deal — about 220 U.S. home loans packaged into a $72 million bond offering — but it's looking like a post-crisis milestone.

Foreclosure inventory and completed foreclosures declined drastically during June, real estate analytics firm CoreLogic found in its monthly survey.

The delinquency rate for commercial mortgage-backed securities was little changed from June to July, according to Fitch Ratings.

1st Service Solutions warned that the Las Vegas, Phoenix and Chicago markets could cause problems for commercial mortgage-backed securities investors.

Bank of America is offering $1.2 billion of mostly delinquent home loans, extending a series of sales by lenders seeking to pare holdings and meet demand by investment firms for soured mortgages.

Former Wilmington Trust President Robert V.A. Harra was indicted on U.S. charges that he lied to regulators as part of a scheme to hide bad real estate loans

delinquencies, CMBS, commercial mortgage-backed securities,Trepp

United Guaranty Corp.'s second-quarter pretax operating income fell 25% from a year ago due to a less favorable adjustment to its loan loss reserves.

Years after the crisis, fundamental problems in default servicing still exist and in order to move forward, servicers must reimagine their processes to better manage overall volume and spikes in demand.

While mortgage loan delinquencies continued to fall in June, non-mortgage debt continues to mount, according to data from Black Knight Financial Services. This added debt could affect a consumer's ability to keep making mortgage payments or buy a new home.

CIT Group has completed its acquisition of OneWest Bank in Pasadena, Calif.

The Conference of State Bank Supervisors recently challenged college students to examine how community banks survived the financial crisis, and the contest highlighted innovative strategies used by Main Street banks such as Bank of American Fork in Utah.