The Treasury Department released a new report Monday highlighting the results of its flagship Home Affordable Modification Program (HAMP). Nearly 910,000 homeowners have received a permanent HAMP modification to date, saving an estimated $9.9 billion in monthly mortgage payments. Treasury says borrowers now entering HAMP have a better chance of earning a permanent modification and realizing long-term success. Eighty-three percent of eligible homeowners that signed on to HAMP since June 2010 have received a permanent modification, with an average trial period of 3.5 … (0 comments)
broker price opini: PAST DUE MORTGAGES = 6,298,000
- 01/07/12 05:54 PM
There were 6,298,000 mortgages going unpaid in the United States as of the end of October, according to Lender Processing Services (LPS).
It’s a daunting number, but the data show that it’s actually been on a fairly steady decline for nearly two years now. At the start of 2011, the total number of non-current mortgages in the U.S. stood at 6,870,000. In January 2010, it was 8,118,000. LPS’ more recent reports show the industry is slowly but surely chipping away at the number each and every month – the result of both loss mitigation workouts and removing loans that cannot … (1 comments)
broker price opini: NEVADA ATTORNEY GENERAL SUES LPS!
- 01/06/12 11:32 AM
Nevada Attorney General Sues LPS By: Carrie Bay Nevada Attorney General Catherine Cortez Masto has filed a lawsuit against Lender Processing Services (LPS), alleging the company engaged in deceptive practices against Nevada consumers by executing fraudulent documents to support foreclosure proceedings.
Masto’s announcement came as a surprise, considering just last month LPS disclosed publicly that the attorney general’s office assured the company it was not a target of the state’s investigation, which has already resulted in the indictment of six former LPS employees for alleged robo-signing abuses. LPS says it “strongly disputes” Masto’s latest allegations and has been … (0 comments)
broker price opini: Zillow: Home Values Down Nearly $700 Billion in 2011
- 01/01/12 08:07 AM
By Evan Nemeroff Zillow is projecting that home values across the country are expected to have gone down approximately $700 billion in 2011, which would be 35% less than the $1.1 trillion that was lost in 2010. The Seattle, Wash.-based real estate provider said the majority of the losses occurred in the first half of the year. From January to June, the housing market experienced a loss of $454 billion, while Zillow is estimating that residential home value losses will be about half ($224 billion) during the second half of 2011. “While homeowners suffered through another year of steep losses, … (1 comments)
broker price opini: PEMCO, Green River Capital, Phoenix Asset Management wishes you a Merry X-Mas, SEE THE VIDEO!!
- 12/23/11 03:45 PM
Subject: PEMCO, Green River Capital, Phoenix Asset Management... ...Asset Valuation & Marketing,DS NEWS, REO Network, Prime AssetFund and MFS Supply. What do all these wonderful companieshave in common? They all recorded a video to wishyou a Merry Christmas and a HappyNew Year! PEMCO actually sang part of theirChristmas greeting. ;) Check them out here. Merry Christmas! Permission granted by Chris to publish this video, I want to thank all those who shared their best wishes in the video...James … (1 comments)
Wednesday, December 21, 2011 By Evan Nemeroff Brillion Asset Solutions has acquired the REO asset management company Infinity National Asset Management. Like what you see? Click here to sign up for the Managing REO bi-weekly newsletter to get the latest news, trends, and data written to help asset managers better manage foreclosed property. Terms of the transaction were not disclosed. According … (5 comments)
In the rollercoaster world where REO and foreclosure volumes change on a monthly basis, title companies, lenders and servicers are trying to close as many real estate transactions as possible despite inventory levels being lower than previous years. http://www.mortgageservicingnews.com/nmn_features/facing-challenges-reo-marketplace-1026200-1.html?ET=mortgageservicing:e1683:25741a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=MSN_REO_082411&site=default_reo
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broker price opini: Home Prices Rising or Falling or Standing Still?
- 12/18/11 03:58 AM
Where are prices going in your market? And how sure are you? We've certainly had lots of surprises as an industry! Read this today: Survey: Home Prices Expected to Increase 1.1% Over Next Five Years http://www.dsnews.com/articles/survey-home-prices-expected-to-increase-11-over-next-five-years-2011-09-21 … (1 comments)
broker price opini: WHAT DOES CHRISTMAS MEAN TO YOU???
- 12/06/11 04:52 PM
What does Christmas mean to you? Family? Health? Money? Fame? Higher Power? Religion? Happiness? Many choices are not listed, but, What does Christmas mean to you? HAPPY HOLIDAYS AND MAY YOU HAVE A WONDERFUL NEW YEAR!!
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broker price opini: Study Uncovers Declines Among Owner-Occupant REO Buyers!!
- 12/05/11 02:42 PM
Study Uncovers Declines Among Owner-Occupant REO Buyers!! Looking for an REO buyer? It’s becoming harder to find owner-occupants to fit that bill. New Vista Asset Management has published the results of a three-year study on buyers of foreclosed homes, covering 18 counties hit hardest by the mortgage crisis. The company says the percentage of REO homes sold to owner-occupant buyers has decreased in almost every market. In Los Angeles County, California, for example, owner-occupant REO buyers have dropped from 80 percent in 2009 to 60 percent by the third quarter of 2011. New Vista’s study uses data extracted from … (0 comments)
The depreciation of home values over the past half-decade has left millions of mortgage borrowers owing more than their home is worth – 10.7 million, according to CoreLogic.
The company released its third-quarter update on negative equity within the U.S. housing market Tuesday. It shows that 22.1 percent of all residential properties with a mortgage were underwater as of the end of September. That’s actually down from 22.5 percent – or 10.9 million borrowers – at the end of the second quarter, but CoreLogic says the number remains high … (0 comments)
broker price opini: Do "NOT" Buy a list for REO/BPO Institutions for REO Listings or BPO Opportunities!!!!
- 12/01/11 03:19 PM
DO NOT purchase a list of Banks/Lenders/Outsourcers for BPO opportunities or REO Listings! In my many years of REO experience, the lists are not worth the paper they are written on. BEWARE!! Tip # 1, I have seen many lists that promise a link or connection to Asset Managers, Vender Relations, BPO Managers, Outsource Managers, and other positions that promise success for obtaining relationships with the above positions. A. Asset managers and other managers are in a constant state of change. So, the list last year or six months ago may not be accurate.B. Asset Managers, BPO Managers have LARGE … (2 comments)
HAMP Mods Pass 900,000 as Servicers Tackle Seconds, Negative Equity 
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