A recent report released by Zillow.com indicated that the average price of a house in the US has decreased by about 25 percent in value over the last five years, likening the current downturn in the US real estate market to the housing market downturn that followed the Great Depression, in which US homes lost [...]
GMAC Mortgage recently announced that it had engaged the services of several leading legal and accounting firms in order to have its foreclosure processes and procedures reviewed and assessed for conformity with all laws and requirements in each and every US state in which it operates. GMAC Mortgage is understood to have made this decision [...]
In light of certain procedural irregularities in the documentation process of foreclosures being highlighted in the media recently, Bruce Witherell, the Chief Operating Officer for Freddie Mac released the following statement regarding the documentation process during foreclosures: “Freddie Mac is deeply concerned about recent reports that there may be affidavits that were improperly executed in [...]
GMAC Mortgage recently issued a full statement clarifying its position with regards to an issue surrounding certain internal procedures adopted by their company with regards to certain judicially required forms that are required to be filled in and signed as a part of the foreclosure process. GMAC Mortgage also stressed that they strive to preserve [...]
Lender Processing Services, Inc. (LPS) recently released their Mortgage Monitor Report for the month of August. The figures contained in the August Mortgage Monitor Report indicated that foreclosure starts have continued to accelerate, with Fannie Mae and Freddie Mac seemingly being quite aggressive with timelines on early stage delinquencies. The report also indicates that mortgage [...]
Lender Processing Services, Inc., an established provider of integrated technology, data and analytics to the mortgage and real estate industries, recently released its “first look” report for the month of August, which considers mortgage performance statistics obtained from its loan level database which consists of around 40 million mortgage loans. The August “first look” report [...]
