Distressed borrowers looking for financial help, Nevada ends streak as top state for foreclosures, first quarter foreclosure filings down significantly, mortgage rates at record lows, and more in today's industry news round-up!
Commentators Ask GSEs to Consider PACE l Origination News
Comments about the Property Assessed Clean Energy program that the Federal Housing Finance Agency asked for came in recently with environmental advocates and local government representatives calling for Fannie Mae and Freddie to find a way to deal with the lien dilemma the program presents so as not to restrict the use of PACE loans.
Distressed Borrowers Looking for Financial Help l Origination News
MortgageKeeper's database provides troubled borrowers with a list of nonprofit and government agencies in seconds that assist mortgagors paying their utility bills, locate inexpensive child care or uncover other sources of assistance that may keep them from defaulting on their mortgages.
National recording system? National database of title agents? Respondents say yes l The Title Report
The results of a recent survey from Ernst Publishing Co. and the American Land Title Association captured the feelings about fraud in the mortgage and settlement services industries, and two responses in particular seemed to surprise both Ernst and a panel of experts discussing the survey.
Nevada ends 62-month streak as top state for foreclosures l The Title Report
Just how bad is the housing situation in Nevada? According to the latest U.S. Foreclosure Market Report from RealtyTrac, Nevada foreclosure activity decreased by 62 percent year over year and still maintained the worst rate in the nation. But, it did lose the top spot for the month of May. Who is No. 1 now?
Mortgage market sees middling results l The Title Report
Mortgage applications saw a slight decline from the previous week, according to the Mortgage Bankers Association’s latest weekly stats. Read on for a breakdown of the current refinance and purchase market.
Energy-related ownership rights becoming big issue for title industry l The Title Report
The recent movement for clean energy and onshore drilling is making it more and more difficult for title insurance professionals, who need to adapt both in the way they search for ownership on property and the way they insure that ownership.
Market share mindset yields to profitability mode for top underwriters, title industry l The Title Report
A majority of title insurance underwriters showed an operating profit in 2011; claims went down; net income went up … has bottom been reached and are the Big Four changing their strategies?
S&P optimistic for homebuilder segment l The Title Report
Operating conditions for U.S. homebuilders have improved over the past six months, and the sector's overall credit quality has steadied as a result, according to a new report published by Standard & Poor's Ratings Services.
First quarter foreclosure filings down 16 percent l The Title Report
RealtyTrac released its U.S. Foreclosure Market Report for the first quarter of 2012, which shows foreclosure filings were down 2 percent from the previous quarter and down 16 percent from the first quarter of 2011. Read on for more from the report and what RealtyTrac makes of the numbers.
SIGTARP: Hardest Hit Spent 3% of Budget, Program Lacks Participants l DSNews.com
As of December 31, 2011, the Hardest Hit Fund (HHF), which is meant to fund innovative measures to help families through the housing crises in hardest hit states, has spent just 3 percent of its budget since its February 2010 inception, a report published by a watchdog organization for taxpayers revealed Thursday.
Mortgage rates tumble back into record territory l CNN Money - Real Estate
Mortgage rates fell this week, with the 15-year fixed rate hitting yet another record low, amid news of weak job growth during the month of March.
Attorney Fined More Than $50,000 for Frivolous MERS Lawsuits l DSNews.com
A Minneapolis-based attorney has been sanctioned by a federal judge for filing one, in what appears to be a series of nearly 30 lawsuits based on what the court says are frivolous show-me-the-note defenses designed to thwart foreclosure proceedings in Minnesota by calling into question the validity of MERS as mortgagee.
Flood of foreclosures coming l CNN Money - Real Estate
The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved.
Building Outside the Box l Wall Street Journal - Real Estate
A Seattle couple turns to the Internet to help find and construct their dream home.