The former banking regulator overseeing the National Mortgage Settlement has released a summary of the latest reports he filed with a federal court in Washington, D.C. The reports detail the performance of five major servicers in meeting the terms of the agreement reached with 49 state attorneys general and federal officials. Joseph Smith says he’s confirmed six fails in the first quarter of 2013 and one in the second quarter.
Luxury homes are beautiful to look at, but difficult to maintain according to a recent report. Despite the continued decline of foreclosure activity in the country, luxury properties are going into foreclosure at a rapid clip. Overall U.S. foreclosure activity is down 23 percent year-to-date through October 2013, but foreclosure activity on homes in the $5 million-plus value range is up 61 percent from the same time period in 2012, according to RealtyTrac.
We're experiencing what Clear Capital's Alex Villacorta calls a "first-in-first-out" recovery. Read More
The Securities and Exchange Commission (SEC) charged the holding company of Fifth Third Bank and its former CFO with improper accounting of commercial real estate loans during the financial crisis. Fifth Third will pay $ ... read more
LRES, a national provider of commercial and residential valuations and asset management, announced it is now serving the retail lending division of California-based PennyMac Financial Services. As part of its services fo ... read more
Consumer sentiment rebounded in November, though Americans haven't yet forgotten the government shutdown that brought confidence down in October. The Index of Consumer Sentiment, a joint measure tracked by the University ... read more