In order to assist struggling borrowers amid an erratic mortgage rate environment, the FHA has proposed a plan to assist borrowers through temporary reductions to monthly mortgage payments for up to five years.
Read More »OCC Report Outlines Decline in Q4 First Lien Mortgage Performance
The OCC’s latest Mortgage Metrics Report found that mortgage servicers nationwide initiated 9,166 new foreclosures in the fourth quarter of 2022, a decrease from Q3’s totals but a higher volume than recorded in Q4 2021.
Read More »Foreclosure Sales and Untimely Loan Modification Applications
Attorney T. Robert Finlay of Wright, Finlay & Zak, LLP delves into the state of California’s Homeowner Bill of Rights, and recent instances where protections against dual tracking came into play.
Read More »HUD Issues Final Rule to Offer 40-Year FHA Loan Mods
The Department believes that its new rule will serve as a critical home retention tool for borrowers in a volatile interest rate market.
Read More »Why Chapter 13 Bankruptcy Should Be Back on the Radar
Attorneys Laura M. Hawley and Michael P. Hogan examine a century of loss mitigation options for borrowers to remain in their homes and avoid foreclosure.
Read More »NCLC Calls Upon GSEs to Stop Sale of Loans to Investors
According to the National Consumer Law Center, when the GSEs sell loans to private investors it can cause borrowers to lose protections to keep them out of foreclosure.
Read More »OCC: Overall Mortgage Performance Improves in Q3
The latest OCC Mortgage Metrics Report found that 97.2% of mortgages included in the report were current and performing at the end of Q3 2022. Click through to learn how this compares to last year’s metrics.
Read More »GSEs Executed Nearly 25K in Foreclosure Prevention Actions in August
Since the start of the GSEs' conservatorship nearly 14 years ago, approximately 40% of their foreclosure prevention actions have resulted in permanent loan modifications.
Read More »FHFA Releases Q2 Foreclosure Prevention Report
The FHFA's foreclosure analysis for July 2022 revealed the total number of loans in forbearance is trending downward from its peak in May, with nearly 85,000 loans in forbearance nationwide, while total refinance volume and mortgage rates also decreased in the same month.
Read More »Five Star Conference to Offer Foreclosure Education Lab
The upcoming Five Star Conference in Dallas will offer a session focused on the foreclosure space, how to prepare for increased volume, the impact firms may experience on workflow and hiring, and much more.
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