Steve Jolly - The REO Expert for Greater Nashville

Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, announced its release of the July 2009 LPS Mortgage Monitor, an in-depth report of mortgage industry performance indicators based on data collected as of June 30, 2009. Although market conditions ...

PMI Mortgage Insurance Co. said Tuesday that it expects home prices to fall through March of 2011 in most of the nation's largest cities. Based on their Second Quarter 2009 Economic and Real Estate Trends Report released today, 85 percent of the cities are facing increased risk of lower home prices in 2011. The risk is now ...

Last week, the Supreme Court upheld the right for state prosecutors to investigate and sue national banks for violations of the Fair Lending Laws.  States can also issue search warrants for their attorneys general to review records, but did not allow them to issue executive subpoenas.  The banks sued on the grounds that ...

Lender Processing Services, Inc. released the June 2009 LPS Mortgage Monitor, which includes mortgage data through the end of May 2009.  Total mortgage delinquencies rose in May to 8.49% for a 5.0% increase over April’s results and a 50% year-over-year increase. The number of newly delinquent loans reached 637,822 in May ...

The Mortgage Bankers Association released its Mortgage Applications Survey thru June 19, 2009. Mortgage loan application volume increased 6.6 percent from one week earlier and increased 17.2 percent compared with the same week one year earlier. The Refinance Index increased 5.9 percent from the previous week. The increase ...

U.S. home prices fell 0.1 percent from March to April, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported decline in March was revised to a 1.4 percent.  For the last year, prices fell  almost 7 percent. The index is 11.2 percent below its April 2007 peak.“Although ...

The Mortgage Bankers Association lowered its forecast of mortgage sales to $2.03 trillion for 2009.  The March 2009 forecast had higher hopes with sales expectations of over $2.7 trillion.  The decrease is due to lower than expected originations and refinancing.  Also, Fannie Mae and Freddie Mac's Affordable Refinance ...

The Treasury Department said this week that Making Home Affordable servicers have extended 150,000 loan modification offers to distressed homeowners, and about 55,000 borrowers are already enrolled in the three-month modification trial. In addition, about 3,650 homeowners have refinanced their mortgages through the government-driven program, ...

he Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey on Wednesday, which showed that home loan applications dropped to their lowest level since last November, as rising mortgage interest rates have led to an increase in borrowing costs. For the week ending June 12, 2009, MBA reported that loan application volume ...

How bad can the rate of mortgage defaults get? Ann Arbor, Michigan-based University Financial Associates, LLC (UFA) says it has simulated “worst case” market scenarios to help lenders' risk managers and the industry better understand what to expect when it comes to future defaults on loans being made today, and the company has good ...