lenders: Mortgage Rates Head Higher on Positive Economic Data
- 03/25/12 02:13 AM
By: Carrie Bay Rates for all mortgage loan products headed higher this week as positive employment indicators rolled in, with job growth over the last six months the strongest it’s been since 2006. That, coupled with the Greek debt restructuring on the international front and the results of the Federal Reserve’s stress tests pointing to a stronger financial banking system, boosted investor confidence and drove bond yields higher. “An upbeat employment report for February caused U.S. Treasury bond yields to increase over the week and mortgage rates followed,” according to Frank Nothaft, Freddie Mac’s chief economist. Studies from both Freddie … (0 comments)
lenders: SHORT SALES EVENTS-U S Treasury Dept.
- 02/14/12 07:43 PM
US Treasury Short Sales Events NAR is working with the U.S. Department of Treasury on Help for Homeowners events around the country. These events offer real estate professionals the opportunity to attend a workshop presented by various servicers on everything you need to know about executing short sales in today’s market. In addition to the short sales workshop, you also will have the unique chance to meet on your clients’ behalf with the servicers to get difficult questions answered and move stuck cases forward. The first events are scheduled in Miami on February 22 and Tampa on February 24. These will … (0 comments)
lenders: You want Depressing?
- 02/12/12 06:00 AM
Just read this by Carrie Bay: The national homeownership rate fell by 1.1 percentage points between 2000 and 2010. The U.S. Census Bureau says it’s the steepest drop since the period from 1930 to 1940, when the rate plummeted by 4.2 percentage points. http://www.dsnews.com/articles/homeownership-decline-rivals-great-depression-2011-10-07 … (0 comments)
lenders: ATTN: FLORIDA, REO Institute and Ed Kolpfer Real Estate School Presents: "REOCertified(R)", SSC (Short Sale Certified(R)
- 01/18/12 03:15 PM
"REOCertified(R)", THE PREMIER REO National Designation! You are invited to the BPO/REO Certified continuing education classes on either Feb 7th or 9th or the Short Sales Simplified Course on Feb 8th or 10th, 2012. These classes will be great events designed to provide you with many new tools for today’s real estate market. Want to work in the BPO/REO market? This class provides in depth training on how to complete BPOs and sell REOs.Don't want to work in the BPO/REO market, but want to know how to work with buyers purchasing foreclosed properties? This class provides the knowledge you need to … (1 comments)
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)
lenders: 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)
lenders: 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)
lenders: 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)
lenders: Become REO Certified(R) TODAY!!
- 12/27/11 10:27 AM
Why wait. It's easy, smart and can seriously amp up your earnings! See: YouTube http://youtu.be/Ae1GKfmFjD0 … (0 comments)
lenders: 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
… (0 comments)
lenders: 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)
lenders: 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!!
… (2 comments)
lenders: 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)
lenders: 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)
The industry has been trying though loan modifications to keep the borrower in their homes, leaseback programs, short sales and other creative processes. The last thing the servicers/banks/lenders want is to the see the foreclosure process in the courts. This delays the process and costs them more money. Meanwhile, hundreds of thousands of foreclosures are stagnate or in limbo (Shadow Market?). In reality these assets are draining enormous industry resources that servicers could be and should be used “to engage and help”, distressed homeowners. While opinions and reasons … (1 comments)
lenders: Please help us, help you? Presented by the "REO Institute".
- 11/06/11 04:58 PM
Thank you for taking the time to participate in the attached survey. The REO Institute of Colorado would like to hear your imput on the information you would like to see included in your Real Estate Continuing Education. Your feedback is important. Please click the link below to begin the survey. http://www.zoomerang.com/Survey/U2LECLYDLFL4 … (0 comments)
Despite indications of economic recovery – such as job growth and some stabilization in home values – pending home sales dropped for the third consecutive month in September, according to the National Association of Realtors (NAR). Nationally, pending sales of existing homes – including REOs and short sales – dropped 4.6 percent for the month, falling from an index level of 88.6 in August to 84.5 in September. NAR’s pending home sales index is a forward-looking indicator that reflects contract signings but not closings. “It is a very strange situation, … (1 comments)
By: Carrie Bay 
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