DSNews.com - 2/3’s of Mortgages Untouched
According to a new report from state attorneys general and bank supervisors from across the country, more than 60% of homeowners with seriously delinquent loans are still not involved in any form of loss mitigation with their servicer. The ratio is disconcerting considering the group also found that one of servicers’ primary loss mitigation [...]
DSNews.com - 1.7 Million GSE Loans at Least 60 Days Past Due
The number of loans held by Fannie Mae and Freddie Mac that were 60-plus-days delinquent stood at 1.7 million at the end of the first quarter of 2010, the two companies’ conservator said in a report to Congress this week. While the volume of past dues may seem like an extraordinary negative weight on a [...]
DSNews.com - Loss Severity on Short Sales 13% Lower than REO: Report
Over the past year, the mortgage risk analysis firm Clayton Holdings says it has witnessed an overall increase in short sale activity. Because of the growing emphasis on keeping borrowers out of foreclosure, servicers are becoming more inclined to employ alternative loss mitigation strategies. And Clayton says the added benefit to servicers is that loss [...]
