The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) declined in the first three months of 2012 to 5.78 percent. This improvement ends two quarters of increases that began in Q3 2011, according to TransUnion. Prior to Q3 2011, 60-day mortgage delinquency rates had dropped for six consecutive quarters. ... [Read More]
The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) declined in the first three months of 2012 to 5.78 percent. This improvement ends two quarters of increases that began in Q3 2011, according to TransUnion.
Prior to Q3 2011, 60-day mortgage delinquency rates had dropped for six consecutive quarters. This latest quarter brings the delinquency rate to its lowest point since Q1 2009.
Between fourth quarter 2011 and first quarter of 2012, all but eight states experienced decreases in their mortgage delinquency rates.
House prices continue to face downward pressure and unemployment remains high, but many see the economic environment beginning to show modest improvement. Therefore, TransUnion’s forecast predicts mortgage delinquency rates to drift downward in 2012 as more homeowners are able to repay their mortgage debt obligations.
http://www2.realtoractioncenter.com/site/R?i=zZZnyKfImNyQ8PmnDIDvaA
Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – from $2,500 to $30,000 – at the completion of a qualifying short sale. To qualify for the enhanced relocation assistance payments under the new program, the seller must work proactively with the bank to obtain a ... [Read More]
Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – from $2,500 to $30,000 – at the completion of a qualifying short sale.
To qualify for the enhanced relocation assistance payments under the new program, the seller must work proactively with the bank to obtain a preapproved sales price prior to submitting a purchase offer to the bank. A short sale must be initiated by the end of 2012 and close by Sept. 26, 2013, to be eligible for the payment. Qualifying short sales that have already been started but have not closed may be eligible for the relocation assistance.
Initially, the program will be offered on mortgages that are owned and served by Bank of America. Currently, the percentage of loans that qualify for the program is 8 percent nationwide.
http://www2.realtoractioncenter.com/site/R?i=9SkYMMUWJORJ5pAdh1CeLQ
The Financial Crimes Enforcement Network has released its full year 2011 update of mortgage loan fraud reported suspicious activity reports (MLF SARs), which shows financial institutions submitted 92,028 MLF SARs last year, a 31 percent increase compared with the 70,472 submitted in 2010. The increase can be primarily attributed to mortgage repurchase demands. Financial institutions ... [Read More]
The Financial Crimes Enforcement Network has released its full year 2011 update of mortgage loan fraud reported suspicious activity reports (MLF SARs), which shows financial institutions submitted 92,028 MLF SARs last year, a 31 percent increase compared with the 70,472 submitted in 2010. The increase can be primarily attributed to mortgage repurchase demands.
Financial institutions submitted 17,050 MLF SARs in the 2011 fourth quarter, a 9 percent decrease in filings compared with the same period in 2010 when financial institutions filed 18,759 MLF SARs. While too soon to call a trend, the fourth quarter of 2011 was the first time since the fourth quarter of 2010, when filings of MLF SARs had fallen from the previous year. FinCEN also updated its SAR data sets used in the report.
