This week the monthly negative equity headlines made the rounds (CNBC story copied below) with Zillow reporting a sharp jump to 28.4% of all houses with mortgages presently underwater. But this does not scratch the surface of the extent to which homeowners are underwater in real life. 1) Remember, these stats rarely include second mortgages or firsts that were refi’d [...]
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The Multi-Agency Mortgage Servicer Settlement, Principal Balance Reductions, Effective Negative Equity, Foreclosures 1) The $20 Billion Multi-Agency Mortgage Servicer Settlement – A Pee-Hole in a Snow Bank. Even Less if Used for Principal Reductions The multi-agency mortgage servicing settlement draft, or term sheet, was leaked to the press this week. There was a lot of [...]
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This report was taken from a monthly macro update we produce for clients on the distress loan pipeline and shadow inventory, updated to reflect recent data. I hope you find it interesting. Mark Hanson – Monthly Foreclosures Need to Double from April’s Record Pace to Clear the Distress Pipe in Four Years. If not, it [...]
This report contains material from my most recent monthly CA and National House Sales client reports. I hope you find them especially interesting. Mark Hanson – Feb CA House Sales – SECOND Straight LOWER YoY Comp – New Loan Defaults Continue to Outpace Sales – Beginning in March, YoY Comps Get Really Thought to Beat [...]