Foreclosure

Auction.com has found that nearly one-third of distressed buyers surveyed expect home prices to decline in their local housing market in 2023, nearly double the 17% who expected home prices to decline in 2022.

An upcoming Five Star Institute Webinar will feature a trio of experts discussing the impact of Section 1071 of the Dodd-Frank Act, a rule requiring financial institutions to collect and report data on small business loans.

In order to assist struggling borrowers amid an erratic mortgage rate environment, the FHA has proposed a plan to assist borrowers through temporary reductions to monthly mortgage payments for up to five years.

According to ATTOM, median home values declined in 52% of Opportunity Zones in Q1, standing firmer than other local markets nationwide.

According to CoreLogic, the nationwide delinquency rate dropped to 1.1%, the lowest level reported in 23 years, as the unemployment rate remains near an all-time low.

ATTOM data has found that the number of vacant homes in foreclosure has risen for the fifth consecutive quarter, as zombie properties accounted for the largest share of all homes since before the pandemic.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

Attorney Stacia E. Peterson discusses a new law change regarding the issuance of a summons and service of a complaint via electronic means.

The MBA reports that approximately 255,000 homeowners remained in forbearance plans through April, as mortgage servicers have provided forbearance options to nearly 7.8 million Americans since April 2020.

“The mortgage delinquency rate fell to its lowest level for any first quarter since MBA’s survey began in 1979 and was the second lowest quarterly rate overall, just 11 basis points above the survey low in the third quarter of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.