Borrowers in Negative Equity Declining as Home Values Gain

Borrowers in Negative Equity Declining as Home Values Gain: Report “About 600,000 borrowers rose above negative equity in the second quarter of 2012, CoreLogic reported Wednesday. According to the company’s analysis, 10.8 million, or 22.3 percent, of residential properties with a mortgage remained underwater for the second quarter of 2012. The second quarter figure is …

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2012 could be record year for short sales

2012 is on track to become a record year for short sales, according to a report from foreclosure data aggregator RealtyTrac. Sales of U.S. homes in the foreclosure process, typically short sales, rose 33 percent year over year, to 35,000, in January. A total of 32 states saw annual increases in short sales, and 12 …

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Timeline Requirements Set for Short Sales

Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days. The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring …

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Lenders’ Risk Managers Expect Mortgage Delinquencies to Drop

FICO’s quarterly survey of bank risk professionals found a reversal in the sentiment of U.S. lenders, with expectations for loan repayments more upbeat in the first quarter of 2012 than they had been during the previous quarter. The survey, conducted for Minneapolis-based FICO by the Professional Risk Managers’ International Association (PRMIA), found fewer lenders anticipating …

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