Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. Leslie Rouda Smith, president of the NAR, used her own letter to the FHA to explain the trade group has been “concerned” about the pandemic’s impact on the housing market.

Loans 421

Loans Industrial Mortgages Real-estate owned 421

Housing Wire

NOVEMBER 11, 2020

Sutherland Mortgage Services President Krish Swaminathan discusses the next wave of servicing, how servicers can best communicate with their customers and the technology available to help with compliance, even in a work-from-home environment. How servicers can prepare for potential default wave. Presented by: Sutherland. properties.

Banks 479

Banks Real-estate owned Staging Mortgages 479

Calculated Risk Real Estate

DECEMBER 8, 2023

homeowners with mortgages (which account for roughly 63% of all properties) saw home equity increase by 6.8% million homes or 2% of all mortgaged properties. . million homes or 2% of all mortgaged properties. Some simple definitions (for housing): Forbearance is the act of refraining from enforcing mortgage debt.

Equity 114

Equity Real-estate owned Lending Loans 114

Housing Wire

JANUARY 31, 2021

After a tumultuous year of disruption and uncertainty in 2020, mortgage servicing continues to change in order to meet consumer needs, regulatory demands and best practices. These regulations regarding mortgage compliance change regularly which impacts how servicers manage their portfolios.

Technology 370

Technology Real-estate owned Loans Mortgages 370

Calculated Risk Real Estate

MARCH 13, 2024

The two key reasons are mortgage lending has been solid, and most homeowners have substantial equity in their homes. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 8.6% of all mortgaged properties. Delinquency is the failure to make mortgage payments on a timely basis.

Equity 70

Equity Real-estate owned Lending Loans 70

Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If

Marketing 384

Marketing Renovation Investor Sales 384

Calculated Risk Real Estate

SEPTEMBER 11, 2023

Last week, CoreLogic reported on homeowner equity: CoreLogic: Home Equity Increases From Winter to Spring, Reducing Underwater Properties in Q2 Only 2% of homeowners with a mortgage were in negative equity as of the second quarter, roughly the same rate recorded over the past two years. The number of underwater U.S. Currently 23.3%

Equity 68

Equity Real-estate owned Lending Loans 68

Housing Wire

MARCH 19, 2024

Lewisville, Texas-based property services company MCS announced last week that it acquired Five Brothers Asset Management Solutions , a deal which brings MCS into the reverse mortgage industry for the first time, according to an announcement by the company. Five Brothers, headquartered in Warren, Mich.,

Mortgages 421

Mortgages Principal Commercial Real-estate owned 421

Housing Wire

JULY 14, 2023

Lenders foreclosed (Real Estate Owned) on a total of 22,672 U.S. Bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022, according to ATTOM. It was up 133% from the first half of 2021, but down 40% from the first half of 2020. properties in the first six months of 2023.

Banks 369

Banks Real-estate owned Marketing Mortgages 369

Housing Wire

APRIL 8, 2021

If a property reverts back to the foreclosing lender at the foreclosure sale and becomes real estate owned (REO), the distressed homeowner is not due any surplus proceeds from a subsequent sale of the REO property.”. a foreclosure sale with a $100,000 credit bid requires a winning bid of at least $100,001).

Equity 432

Equity Short sale MLS Sales 432

Calculated Risk Real Estate

DECEMBER 13, 2023

Historically it takes a number of years for real prices to return to the previous peak, see House Prices: 7 Years in Purgatory. 30-Year Mortgage Rates Have Declined, but Remain Above 7% The following graph from MortgageNewsDaily.com shows mortgage rates since January 1, 2010. This is historically very low.

Marketing 108

Marketing Principal Mortgages Real-estate owned 108

Realtor.com

JANUARY 29, 2023

When a homeowner doesn’t pay their mortgage for an extended period of time, a lender will take possession of the home—which means the current owner must move out. Foreclosure is a scary word and it’s become a real concern for homeowners as the economy continues to fluctuate. KLH49/iStock What is a foreclosure?

Banks 104

Banks Loans Mortgages Real-estate owned 104

Realty Biz

JANUARY 1, 2021

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. Bank-Owned Properties. These are referred to as REO or real estate owned.

Short sale 116

Short sale Pre-approval Banks Loans 116

McKissock

APRIL 30, 2021

Estate sale. A Real Estate Owned (REO) transaction is a sale of a home that has been foreclosed and the lender is the owner/seller of the home. Usually, the homeowner is suffering some type of financial hardship which is preventing them from meeting the mortgage payments. Estate sale. Short sale.

Sales 88

Sales Short sale Real-estate owned Title 88

Real Trends

MARCH 7, 2022

Politicians have called for boycotts of Russian oil, and some have even called for seizure of American real estate owned by Russian oligarchs. Just over half (51%) of the transactions were all-cash, but the study found that buyers who obtained mortgage financing were almost certain to reside at the home in question.

Marketing 84

Marketing Residential Real-estate owned Finance 84

Realty Biz

JULY 19, 2022

Pre-foreclosures are commonly confused with the foreclosure process and REOs (real estate owned by a lender). A house enters the pre-foreclosure process after the owner misses one or more mortgage payments and the lender sends a Notice of Default (NOD). It’s essentially the reverse of a mortgage application.

Purchase and sale agreement 102

Purchase and sale agreement Short sale Loans Inspection 102

McKissock

NOVEMBER 13, 2020

If a mortgage lender acquires the title to a property as the result of a foreclosure, the property is called an “REO” property, which is short for “Real Estate Owned.” However, inspecting these types of properties can be dangerous.

Inspection 88

Inspection Short sale Title Real-estate owned 88

Point2Homes

JUNE 23, 2021

Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank. The main appeal of real estate-owned properties is that they can be a better deal than buying from a private owner.

Pre-approval 71

Pre-approval Banks Title search Inspection 71

Broke Agent Media

JANUARY 16, 2023

It seems clear that government and mortgage industry efforts during the pandemic, coupled with a strong economy, have helped prevent millions of unnecessary foreclosures. Real Estate Owned or REO properties (foreclosed on and repossessed by a bank). Top takeaways for real estate agents. Rick Sharga.

Banks 98

Banks Equity Sales Real-estate owned 98

Housing Wire

MARCH 24, 2023

Rising rates led to a reduction in mortgage refinances during that quarter, declining to 111,251 in Q4 2022, down from 194,189 the previous quarter. The GSEs’ real estate-owned (REO) inventory increased 7% from 10,251 in Q3 to 10,997 in Q4 due to REO acquisitions outpacing property dispositions.

Fixed-rate mortgage 432

Fixed-rate mortgage VA loan FHA loan Loans 432

HomeLight

AUGUST 31, 2020

The path to foreclosure begins with a homeowner struggling to make their mortgage payments. When a homeowner can’t make their payments, they may either try to sell their home before they get too far behind on their mortgage, or they could simply let the loan go into default. (Source: Jamie Street / Unsplash). Distressed or short sales.

Short sale 96

Short sale Sales Banks Inspection 96

Lab Coat Agents

NOVEMBER 16, 2021

Anyone with the willingness and a small amount of money to invest can invest in real estate. You’ll need a down payment if you wish to invest in tangible real estate (owning the property). When you acquire and hold real estate, the rent will provide you with a monthly income flow.

Debt-to-income ratio 98

Debt-to-income ratio Equity Investor Real-estate owned 98

HomeLight

AUGUST 31, 2021

We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments.

Pre-approval 106

Pre-approval Short sale Banks Finance 106

Housing Wire

DECEMBER 2, 2020

The Federal Housing Finance Agency extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac until Jan. This extension gives peace of mind to the more than 28 million homeowners with an Enterprise-backed mortgage,” said Calabria. Presented by: VRM Mortgage Services.

Mortgages 527

Mortgages Real-estate owned Finance Loans 527

CT Homes

NOVEMBER 11, 2021

Vacating Former Homeowners Still Living in a Real Estate Owned Property Post-Foreclosure. A cash for keys offer is a great option when a former homeowner remains within a real estate-owned property after a foreclosure. Vacating Tenants from a Real Estate Owned Property.

Real-estate owned 64

Real-estate owned Banks As-is Investor 64

Housing Wire

FEBRUARY 25, 2021

Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to six months, the Federal Housing Finance Agency announced Thursday. 22, the Mortgage Bankers Association estimates 2.6 With the latest edict, the agency is now allowing borrowers up to 18 months of coverage.

Mortgages 517

Mortgages Real-estate owned Finance Loans 517

Housing Wire

FEBRUARY 9, 2021

Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to three months, the Federal Housing Finance Agency announced Tuesday. ” What role can mortgage brokers play in fair housing? For the third month in a row, the Mortgage Bankers Association estimated 2.7

Real-estate owned 540

Real-estate owned Finance Equity Mortgages 540

Housing Wire

FEBRUARY 7, 2024

The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. mortgage finance system. mortgage finance system.

Land lease 432

Land lease Land Lending Equity 432

HomeLight

AUGUST 31, 2020

What is a bank-owned home? A bank-owned home, also known as “real estate owned” (or REO for short), refers to properties that have been foreclosed with the ownership transferring to the bank or lender. It gets to that phase after the borrower defaults on mortgage payments for a period of time.

Banks 98

Banks Inspection Inspection contingency Title 98

Housing Wire

NOVEMBER 28, 2023

Require government-owned homes to be sold to non-profits or owners who will live in them Foreclosures have been low in recent years, but in downcycles, foreclosed real estate owned by the federal government has been a more substantial percentage of the overall market.

Land 473

Land Construction Real-estate owned Equity 473

HomeLight

SEPTEMBER 30, 2020

John Durham is a successful real estate agent in Henry County, Georgia, and has purchased homes at auction for 16 out of 20 years of his career as a real estate agent. The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. Where can you find foreclosure auctions?

Due diligence 98

Due diligence Hard money loan Finance Banks 98

Lab Coat Agents

JANUARY 10, 2022

Anyone with the willingness and a small amount of money to invest can invest in real estate. You’ll need a down payment if you wish to invest in tangible real estate (owning the property). When you acquire and hold real estate, the rent will provide you with a monthly income flow.

Debt-to-income ratio 59

Debt-to-income ratio Investor Renovation Equity 59

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval 102

Pre-approval Pre-qualification FHA loan Inspection 102

HomeLight

SEPTEMBER 1, 2020

When a homeowner stops making mortgage payments , eventually the bank will foreclose on their house, and the property will become bank-owned. The steps in between the first missed mortgage payment and a bank-owned foreclosure follow a pattern like this: The homeowner fails to make at least three consecutive months of mortgage payments.

Banks 88

Banks Inspection contingency Inspection FHA loan 88

Housing Wire

JANUARY 19, 2021

The Federal Housing Finance Agency announced Tuesday that Fannie Mae and Freddie Mac will once again extend moratoriums on single-family foreclosures and real estate owned evictions, this time until Feb. The foreclosure moratorium applies to GSE-backed, single-family mortgages only. 28, 2021. “To

Real-estate owned 458

Real-estate owned Lending Finance Mortgages 458

Inman

MARCH 30, 2023

The operator of real estate auction platform Hubzu reports a $53.4 million 2022 net loss, with revenue falling 15 percent to $144.5 million.

Real-estate owned 148

Real-estate owned Mortgages Marketing 148

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? Experienced REO buyers swear by this method of wealth-building through real estate. Properties get to this point after the borrower stops making mortgage payments for a period of time.

Banks 104

Banks Pre-qualification Investor Short sale 104