A Spoc for borrowers is logical
Our Spocs know "the financial situation of the borrowers better than their spouses," says Mark Atencio, senior vice president for mortgage servicer Green Tree Servicing. "They are that close and interacting that much with the borrower."
Do you feel that close to your Spoc? I guess I need to tell you who Spoc is.
A Spoc is
Posted in Mortgages
Tagged Foreclosure, mortgage, Mortgages, spoc
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Make your home work for you
Carrying a mortgage is no easier on America's middle class, even though home prices have dropped dramatically, according to a new study by Center for Housing Policy.
Nearly a quarter of 45 million households in the study spent more than half their monthly budget on housing costs in 2010. The author of the study, Laura Williams,
Ghosts of botched foreclosures
While state attorneys general and lawyers for five of America's largest banks basked in the spotlight of their $25 billion federal-state legal settlement over botched mortgage modifications and bungled foreclosures, a troubling report on recent foreclosure fraud quietly slipped under the public radar.
The San Francisco county audit that examined about 400 county foreclosure sales between January
A mortgage deal & schizoid policy
If you are eager to learn the details on the national mortgage settlement that regulators recently announced, your wait may be over in a few days.
I spoke to Laurence Platt, a lawyer at K&L Gates, who is part of the legal team representing one of five banks in the settlement. The team is in the
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Tagged Foreclosure, mortgage, Mortgages, settlement
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Sating the hunger for short sales
Expect to see a new wave of short sales in 2012 -- if all goes as planned.
The powers that be are on a mission to make short sales more attractive to lenders and borrowers. Fannie Mae and Freddie Mac -- which guarantee or own more than half of the outstanding mortgages in the United States
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Tagged Foreclosure, Mortgages, short sale
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A new day for subprime loans
The housing market is showing signs of life and that's sparking a renewed interest in bonds backed by subprime mortgages.
Wednesday, the National Association of Realtors reported that existing-home sales increased 4.3 percent in January from a month earlier, the highest level since May 2010. In 2011, home sales increased 1.7 percent from 2010.
The positive upticks
Is your mortgage naked?
Lenders can't foreclose on your home if your mortgage is naked. That's what the court told Fannie Mae when it sided with a Massachusetts homeowner who was close to being evicted from her home.
Yes, we can foreclose on naked mortgages, Fannie and loan servicer Green Tree Servicing say in court documents. The ultimate decision on
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Tagged Foreclosure, Mortgages, naked mortgages, note
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Foreclosure, Beverly Hills style
It's often said that the rich are different, but maybe not in the way you'd think. They're suffering foreclosures at a faster clip than the rest of the nation, even though more of them can afford to pay their mortgage.
Reuters news agency compiled figures from RealtyTrac and found that 180 homes In tony Beverly Hills,
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Tagged Beverly Hills, mortgage, Mortgages, rich
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Delinquencies and foreclosures drop
The percentage of delinquent mortgages declined and fewer loans were in foreclosure in the last quarter of 2011, says the Mortgage Bankers Association.
About 7.58 percent of outstanding mortgages were past due in the fourth quarter, a decline of 41 basis points on the seasonally adjusted delinquent rate. When compared to the first quarter of 2010,
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Tagged delinquency, mba, mortgage, Mortgages
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Builder confidence soars
Home builder confidence in new, single-family homes soared to its highest point in four years, according to the National Association of Home Builder's survey. But it's still well below what's considered positive.
The monthly index on builder sentiment rose 4 points to 29, its highest point since 2007. Fifty is the point between positive and negative.