Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

Foreclosure Starts Leveling Off After Spiking to Start 2015

dsnews.com | April 8, 2015

By Brian Hones

Foreclosure starts dropped off by 15 percent according to Black Knight Financial Services' February 2015 Mortgage Monitor released earlier this week, almost reversing the spike they experienced in January – indicating that foreclosure starts may be leveling off and even nearing pre-recession numbers.

Black Knight reported the largest total of foreclosure starts for one month in January since December 2013, a number that was likely due to "seasonality," according to Black Knight's SVP of Loan Data Products, Trey Barnes, who noted that foreclosure starts have spiked in three of the last four Januarys and cautioned that one month's data does not make a trend.

While more than 94,000 foreclosure starts were reported for January, that number sank to slightly less than 80,000 for February, a drop of more than 15 percent and the third lowest monthly total for foreclosure starts since August 2006 – before the housing crisis.

Part of the reason for the repeated January spike in foreclosure starts could be reluctance on the part of mortgagees to enforce foreclosure during the holiday season. For example, both Fannie Mae and Freddie Mac announced right before Christmas that there would be a two-week moratorium on carrying out single-family foreclosure evictions, from December 17 to January 2.

"As in previous years, we believe it is important to extend the timeline of help for struggling borrowers during the holidays," said Joy Cianci, SVP of Credit Portfolio Management for Fannie Mae.

Also according to Black Knight's February Mortgage Monitor, a couple of other noteworthy statistics dipped to near pre-recession levels. Foreclosure inventory, is the total number of residential properties in any state of foreclosure, fell to below 800,000 nationwide for the first time since December 2007. The delinquency rate – the percentage of mortgages 30 days or more past due but not in foreclosure – fell to 5.36 percent in February (about 2.7 million properties), its lowest level since August 2007, according to Black Knight.

Those are not the only foreclosure statistics that seem to be leveling off, however – in the January 2015 National Foreclosure Report by CoreLogic, foreclosure completions – the true indicator of homes lost to foreclosure – declined by 33 percent year-over-year nationwide from 822,000 down to 549,000. CoreLogic is scheduled to release its February foreclosure report on April 14.

 

Back to April 2015 Archive

 

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer

Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:

 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved