November brought fewer loan mods, declining foreclosures

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Early Improvements Slowed by Scandal and Fewer Loan Mods and Short Sales The first half of 2010 saw relatively good news for most participants in the foreclosure market.. 2010. California Foreclosure Reports. The Foreclosure Report – November 2010 . A Significant Decline in Foreclosure Activity Brought On by Robo-Signing For the second.

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Mortgage delinquencies were largely unchanged, with under 3,256,000 people past due on their loans by 60 days or more, a decline of less than 1,000 from the previous month.

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According to an ABC News article, Home Foreclosures Rise 7 Percent in October, not only did foreclosures rise last month, but recent legislative changes threaten to prolong the housing crisis. The article stated: Foreclosures ticked up 7 percent in October from the prior month . . .

“We have a problem here in America because fewer than half of all Hispanics and African. Discrimination played a role in loan modifications and foreclosures, too, federal agencies found. More:.

Summary of the proposed changes to the Mortgage Servicing Rules The Consumer Financial Protection Bureau is proposing several amendments to the Bureau’s Mortgage Servicing Rules under Regulation X, which implements the Real Estate Settlement Procedures Act, and Regulation Z, which implements the Truth in Lending Act. The

Loan modification terms and procedures. Participating loan servicers will be required to use a net present value (NPV) test on each loan that is at risk of imminent default or at least 60 days delinquent. The NPV test will compare the net present value of cash flows with modification and without modification.

 · Most of the decline has been in proprietary modifications, private loan modifications done according to the lender’s own rules. Those are down nearly 25 percent in two months, to 61,000 in February, compared to more than 80,000 in December.

 · loan modification activity subsided in November 2013, with only 44,000 mods completed during the month. That figure is down 12% from 50,000 modifications in October, according to data from HOPE.

Fewer Consumers Willing to Consider Foreclosures Survey shows consumers worry about the hidden costs, risky processes, and falling values when buying a foreclosed home.

10) Mortgage Delinquency Rates at 11-Year Low-Nationally, 4.1 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October 2018,