TITLE

Due Diligence Reduces Foreclosure delays

AUTHOR(S)
Nemeroff, Evan
PUB. DATE
November 2011
SOURCE
Mortgage Servicing News;Nov2011, Vol. 15 Issue 11, p17
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the significance of due diligence in mitigating foreclosure delays in the U.S. mortgage industry. It notes the necessity for lender-servicers to maintain proper documents before issuing a foreclosure notice. It points out that inaccurate paperwork results to lengthy default process. However, it observes that not all banks maintain the right documents and records pertaining to ownership resulting to longer court cases and more delinquent loans.
ACCESSION #
67091577

 

Related Articles

  • Borrower Defaults Eclipsed By Robo-Signing Flap. Barrett, Melissa; Negroni, Andrea Lee // National Mortgage News;10/18/2010, Vol. 35 Issue 5, p4 

    The article focuses on the authors' insights on the foreclosure of legal documents executed by "robo-signers" in the U.S. They state that robo-signers are employees assigned for the foreclosing plaintiffs who do not verify contents and executed affidavits without notary public present. They note...

  • Reversing the Flow.  // National Mortgage News;4/18/2011, Vol. 35 Issue 29, p4 

    The author reflects on the reverse flow in foreclosure which involves the aid of mortgage servicers to borrowers that let them stay in U.S. homes until good resolutions are found.

  • Little Growth in Foreclosure Rolls. Collins, Brian // American Banker;8/23/2011, Vol. 176 Issue 130, p7 

    Brief information is given about the slow process of foreclosure in the U.S. and concern that a backlog of residential loans could build up and flood the mortgage loan servicing industry.

  • New Carrots, Sticks from Fannie, Freddie. Berry, Kate // American Banker;4/29/2011, Vol. 176 Issue F316, p15 

    Brief information is given about financial penalties and incentives for mortgage services to discourage foreclosure in the U.S.

  • Robo-Sign Settlement Done in Next Few Weeks? Collins, Brian // National Mortgage News;1/23/2012, Vol. 36 Issue 17, p1 

    The article reports on the robo-sign settlement over foreclosure and mortgage servicing issues signed by major servicing banks in the U.S. including Wells Fargo Inc., Bank of America, and Ally Financial.

  • Brace for More Foreclosure Strain in 2011. Dymi, Amilda // National Mortgage News;1/3/2011, Vol. 35 Issue 14, p10 

    The article reports on the challenges facing loan servicers with foreclosures expected to continue to overshadow the U.S. marketplace in 2011.

  • Bank 'Walk-Aways' Lepro, Sara; Berry, Kate; Hochstein, Marc // American Banker;1/27/2011, Vol. 176 Issue 15, p10 

    The article discusses a report that claims mortgage servicers are refraining from foreclosing on thousands of vacant homes in Chicago, Illinois because they don't want to incur the costs of maintaining the properties while they possess them.

  • Will Servicers Face Another Round of Foreclosures? Marshall, Frank // Mortgage Servicing News;Aug2010, Vol. 14 Issue 8, p20 

    In this article the author examines mortgage servicers will face another round of foreclosures after the recession in the U.S.

  • Data Confirm Counseling Almost Doubles Foreclosure Cure Odds. Dymi, Amilda // Mortgage Servicing News;Feb2011, Vol. 15 Issue 2, p5 

    The article reports on the expansion of foreclosure counseling in the U.S. in 2011.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics