Mortgage Relief Project

State Supreme Court decision could unlock foreclosure floodgates in New Jersey

Posted on February 28, 2012 by project

Foreclosure filings in New Jersey are at record lows, but the so-called shadow inventory of cases that have not been submitted may soon begin to move through the system. The reason is a highly anticipated state Supreme Court ruling that … Continue reading →

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Florida Mandatory Foreclosure Mediation Terminated

Posted on February 24, 2012 by project

On December 19, 2011, the Florida Supreme Court entered order number AOSC11-44, effectively terminating the statewide mandate for the mediation of all residential mortgage foreclosure matters. The Court stated that it “cannot justify continuation of the program”. This measure comes … Continue reading →

Managing REO

Posted on February 22, 2012 by project

Foreclosure filings nationwide rose 3% in January from the month prior, a sign that improving delinquency rates may have a huge lag effect. “We continue to see signs on a local and regional level that the frozen-up foreclosure process is … Continue reading →

FHA Delinquencies Move Higher as Originations Slow

Posted on February 6, 2012 by project

National Mortgage News The serious delinquency rate on the Federal Housing Administration’s $1 trillion single-family loan portfolio edged closer to 10% in December as the pace of originations slowed in the fourth quarter. FHA reported Friday that 9.6% of its … Continue reading →

Bank Risk Managers Expecting More Delinquencies

Posted on February 4, 2012 by project

Bank Risk Managers Expecting More Delinquencies - National Mortgage News Bank risk professionals expect delinquencies on most types of consumer loans to rise, balances on credit cards to grow and global concerns will all affect the nation’s economic health, according … Continue reading →