Foreclosures

Voters during a special town meeting approved a measure that would allow the town to bid up to $5 million on 87 acres of land across from the Village Fire Station on North Street in Kennebunkport, Maine, that is likely headed for foreclosure next week.

Wayne Francis, the lawyer and real estate speculator captured while hiding in a Connecticut hotel room over the holiday weekend, was presented in court Tuesday on a larceny charge and held on a $2 million bond.

DLJ Mortgage Capital, a subsidiary of Credit Suisse, is securitizing $91 million of loans insured by the Federal Housing Administration that were once delinquent but are now making timely payments.

Nearly 10 years after the housing bubble burst, the median home-sale price in the Philadelphia suburbs is down 11%, having dropped $27,000, from $242,950 in the first quarter of 2007 to $216,000 in 2017.

Maryland Gov. Larry Hogan has signed a bill that will expedite foreclosures of vacant and abandoned properties this fall.

Dozens stood out in the rain Thursday morning to protest the foreclosure eviction of an elderly man and his son from their Sixteen Acres home in Springfield, Mass.

Mortgage delinquencies increased 13% in April from March, but the calendar and seasonality were the primary reasons for the spike, said Black Knight Financial Services.

Fidelity National Financial has acquired Hudson & Marshall, a real estate auction company, and in a related move its ServiceLink subsidiary introduced a foreclosure auction product.

Nationstar Mortgage is issuing its seventh securitization of nonperforming reverse mortgages.

It was a rare lucrative business for Wall Street in the aftermath of the financial crisis: snapping up properties in foreclosure and renting them out. So good, in fact, that now, as the distressed pool dries up, some investors are refusing to let the rental-model fizzle.