HSBC latest bank to settle toxic mortgage claim (9/15/2014)
British bank will to pay $550M, resolving claims it misled Fannie Mae and Freddie Mac about risky mortgage securities sold before the 2007 housing collapse.
Fannie: Minimum wait times shorter after foreclosure (9/11/2014)
Fannie Mae nixed loan-to-value (LTV) requirements. All applications will soon have a four-year waiting period – two years with extenuating circumstances.
New Fla. foreclosures up for first time in 17 months (9/11/2014)
RealtyTrac: Newly filed foreclosures in Aug jumped 24% year-to-year. Why? Experts cite legal changes, a faster court system and the end of short-sale tax breaks.
Homeowners frustrated by state’s Hardest Hit program (9/8/2014)
Only 1 in 10 applicants has received helped so far. Hardest Hit, which helps underwater owners current on the mortgage, has spent about 1/3 of its budget so far.
Ex-homeowners not applying for foreclosure money (8/28/2014)
Ocwen must pay ex-owners after a court decided it violated their rights during foreclosure. But only 33% have applied and the deadline is Sept. 15.
Fla. to get $1B from Bank of America settlement (8/22/2014)
Nearly 17,000 Floridians will get relief from the record-setting national settlement with BofA, according to Florida Attorney General Pam Bondi.
Bank of America agrees to pay nearly $17B (8/21/2014)
BofA will settle federal and state allegations that it sold risky, mortgage-backed securities to investors before the national financial crisis, says an insider.
More banks want money from post-foreclosure owners (8/20/2014)
If a lender doesn’t forgive foreclosure debt, it can make the ex-owner pay up years later via a deficiency judgment. A recent change has caused a spike in claims.
RealtyTrac: U.S. foreclosure activity up 2% in July (8/14/2014)
But in a year-to-year comparison, foreclosure activity is down 16%. Fla. still ranks first nationally for foreclosures, but they’re down 30% year-to-year.
REO inventories shrinking for Fannie, Freddie (8/12/2014)
In the past four years, Fannie’s REO inventory declined 58% compared to 3Q 2010; Freddie’s inventory is down 48%.
Fears fading over looming home equity resets (8/11/2014)
The old fear: Many recession-era, interest-only home equity loans will reset, leading to new foreclosures: The new thought: The risk isn’t as bad as feared.
Foreclosure inventory down 35% but celebration muted (8/4/2014)
U.S. foreclosure inventory plunged, but it’s not yet time to break out champagne. Housing experts aren’t quite ready yet to declare the foreclosure crisis over.
Fewer underwater homes regain equity in 2Q (7/24/2014)
RealtyTrac: 17% of homeowners were “seriously underwater.” It’s a marginal drop over the previous quarter but down from 26% in 2Q 2013.
U.S. files lawsuits against foreclosure relief firms (7/24/2014)
Three firms, including one in Fla., allegedly offered to help distressed homeowners but instead used “deceptive marketing tactics to rip off” consumers.
June foreclosures down 2% – lowest since July 2006 (7/17/2014)
RealtyTrac: June a “milestone” as foreclosure numbers drop to “levels not seen since before the housing price bubble burst in August 2006.” But Fla. still No. 1.
CoreLogic reports 47,000 completed foreclosures in May (7/8/2014)
It’s down 9.4% from year ago. Fla. had highest number (122K) of completed foreclosures for year ending in May; also 2nd highest in foreclosure inventory at 5.2%.
26K Floridians to get Ocwen foreclosure rebate (6/30/2014)
A.G. Bondi says claim forms for part of $125M will be sent to Fla.’s Ocwen borrowers who lost a home to foreclosure between Jan. 1, 2009, and Dec. 31, 2012.
Fla. is home to 1/3 of U.S. zombie foreclosures (6/26/2014)
The state has a high percentage of the nation’s empty homes. Its zombie homes – ones in foreclosure but not yet taken – sit on the market an average 411 days.
Limits on foreclosure sales stir a debate (6/18/2014)
Why can’t an owner buy his own home – for less money and a smaller mortgage – at a foreclosure sale? Many agree that the rules should at least be softened.
SunTrust settlement to benefit Floridians (6/18/2014)
Foreclosure settlement requires SunTrust to modify loans for some borrowers – including principal reduction and/or refinancing – as a result of alleged abuses.
RealtyTrac: U.S. foreclosure activity decreases 5% in May (6/10/2014)
Fla.’s foreclosure activity down 30% year-over-year, for 10th month in row, but had highest state foreclosure rate in U.S. – same as for past 8 months.
Foreclosures drop to lowest level since 2007 (6/2/2014)
CoreLogic: Between 2000-2006, the U.S. had about 21,000 foreclosure sales per year; in April it was 46,000 yearly. Fla. No. 2 for foreclosure inventory: 5.4%
RealtyTrac: Fla. still top state for foreclosures (5/15/2014)
Fla. foreclosure activity dropped 9% year-to-year in April, but at nearly three times the nat’l average, the state’s rate has led U.S. for the past seven months.
Loan servicers use different operating styles (5/5/2014)
The way banks handle distressed homeowners, such as through principal reduction or refinance, can vary depending on the company that’s servicing the loan.
March year-to-year sales up 1% in Fla., prices up 11% (4/24/2014)
RealtyTrac: Sales also rose 1% month-to-month, but sale prices declined slightly: 2%. Also, price increases have slowed in some cities that saw an early rebound.
Number of homes seriously underwater at two-year low (4/17/2014)
Fla. ranks second (31%) behind Nevada (34%) for high-negative-equity homes. Of those in foreclosure, 59% are seriously underwater, but 26% have some equity.
RealtyTrac: Fla. still No. 1 in foreclosure rates (4/10/2014)
One in every 407 Fla. homes with a mortgage is in some stage of foreclosure, and eight Fla. cities (200,000-plus population) are in the top 10 by metro area.
U.S. foreclosure inventory down 35% year-to-year (4/3/2014)
CoreLogic: Fla. had 118,000 completed foreclosures for the month – 136% more than second-place Mich.; as a percentage, its foreclosure inventory is second to N.J.
Feb. foreclosures up for year, down for month (3/27/2014)
RealtyTrac: Orlando, Tampa, Miami tops for short sales and cash sales; Jacksonville for REOs; Lakeland, Miami for auctions; Cape Coral institutional investors.
Report: Pre-foreclosure inspections fraudulent? (3/27/2014)
Fed agency says Fannie Mae and Freddie Mac’s mandated home inspections raise “serious quality control issues” and could possibly include fraudulent data.
CFPB ready to take on ‘zombies’ (3/18/2014)
Consumer Financial Protection Bureau: A zombie home – one in which a bank failed to legally follow through on foreclosure – unfairly hurts the owner’s credit score.