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
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
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
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 - 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