Comments on: Are Lenders Deliberately Stalling on Foreclosures?

By: Kapowich makes short-list of industry nominees on Greg Swann's Bloodhound Realty's Weblog

Fri, 05 Oct 2007 00:31:03 +0000

[...] or Sooner * Brian Wilson ? Redfin, [Redfin] ?I coulda been a contender?? * Morgan Brown ? Stalling on foreclosures, Are Lenders Deliberately Stalling on Foreclosures? * Jay Thompson ? Refrigerator service, How to Save $94 on Refrigerator Service * Dan Green ? [...]

By: Kapowich makes short-list of industry nominees on Greg Swann's Bloodhound Realty's Weblog

Fri, 05 Oct 2007 00:31:03 +0000

By: The Odysseus Medal competition — Voting for the People’s Choice Award nominated posts is open | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments

Sun, 30 Sep 2007 19:38:45 +0000

[...] Here is this week’s short-list of Odysseus Medal nominees: Kelly Roark — Agent 2.0, Agent 2.0: not-so-clever play on ?Web 2.0? or the future of real estate marketing?Brian Brady — Advertising to Ashley, Advertising to AshleyJay Thompson — Aaron Anglin, Tragedy Begets Triumph: Why I Love this CommunityBrian Brady — Cleaning up lending, Realtors Hold the Power to Clean Up LendingDaniel Rothamel — Facebook, Why Your Answer to, ?Are You on Facebook?? Will Determine the Fate of Your Business in 10 Years or SoonerDustin Luther — Make an impact, 7 Ways to Make an ImpactJillayne Schlicke — Deceptive advertising, Deceptive Radio Advertising in Mortgage LendingJoel Burslem — ActiveRain/Move, Move.com Tried to Buy ActiveRainJay Thompson — Refrigerator service, How to Save $94 on Refrigerator ServiceBill Leider — Opportunity costs, Internet Marketing And Opportunity Cost – Connecting The DotsSteve Leung — Hidden factors, Hidden Factors When Calculating a Home?s ValueJonathan Dalton — Real estate 2.0, Real Estate 2.0 and the Phoenix Real Estate ConsumerMichael Wurzer — Standards and monopolies, Good Standards Break Monopolies, Not Make ThemJeff Brown — Double-edged sword, Double-Edged Sword ? OR ? Planning & Discipline ? What Does Your Retirement Look Like?Dan Melson — Sellers pays commissions, Why the Real Estate Buyers Agent’s Commission is Paid by the SellerPatrick Kapowich — Realtor licensing, Inside the Santa Clara County Association of Realtors? Convention. Buyer beware? No. It?s Licensees Beware.Jim Watkins — Down market?, Down Sales Market? Think Outside the BoxDan Green — Data is granular, Why Real Estate Data Is Granular And Not Mosaic, Or One More Reason To Stop Reading Real Estate HeadlinesBrian Wilson — Redfin, [Redfin] ?I coulda been a contender??Morgan Brown — Stalling on foreclosures, Are Lenders Deliberately Stalling on Foreclosures? [...]

By: 2007 September 26

2007 September 26 — Wed, 26 Sep 2007 17:42:35 +0000

[...] Are Lenders Deliberately Stalling on Foreclosures? – about NOD (Notice of Default) delays – thanks OE – Blownmortgage [...]

By: Jeff's Moped

Jeff's Moped — Wed, 26 Sep 2007 07:01:09 +0000

Morgan – The difference is probably largely due to the fact that servicers are putting more emphasis on loss mit work than in years past. As for their motives, I can only offer conjecture: concern over bad press if they don’t do all they can before referring to FCL; PSA’s requiring a certain level of loss mit before FCL; overt pressure from the OTS or other regulatory body pushing for a certain level of loss mit before referral to FCL.

My guess is that it is a combination of all the factors, no real driving one. The other major change: 120 is the new 90. Almost EVERYONE waits 120 days before referring to FCL now, again for various reasons; which was not the case back in the 1990s.

Cheers.

By: Morgan Brown

Morgan Brown — Wed, 26 Sep 2007 00:23:20 +0000

What I found interesting was after writing this I was reading the latest Economist and an article said that in the early 1990’s 75% of all homes that were 90-days late were in foreclosure. Today only 25% of all homes 90-days late are in the foreclosure process. What gives? Even with a lack of staff there seems to be a fundamental difference in process now.. any thoughts on that stat?

By: The Feed Bag - Copenhagen Girls On Bikes

The Feed Bag - Copenhagen Girls On Bikes — Tue, 25 Sep 2007 23:39:42 +0000

[...] Morgan Brown wonders aloud if Are Lenders Deliberately Stalling on Foreclosures? [...]

By: The Feed Bag - Copenhagen Girls On Bikes

The Feed Bag - Copenhagen Girls On Bikes — Tue, 25 Sep 2007 23:39:42 +0000

[...] Morgan Brown wonders aloud if Are Lenders Deliberately Stalling on Foreclosures? [...]

By: visitor

visitor — Mon, 24 Sep 2007 22:01:43 +0000

If not total conspiracy, many would be conveniently misunderstanding the rules of what is required of them.

May be someone can ask the banks (with a copy to SEC and thus force them to state the facts, whatever they may be) to officially state what reality is. If someone write to the bank’s officer, the bank will have to, at a minimum, take a official position to which we can hold them. As a publicly traded corporation, they must also file form 8K and mention any adverse conditions. If someone asks them, at least they will not be able to deny awareness later.

By: Thomas Johnson

Thomas Johnson — Mon, 24 Sep 2007 19:27:51 +0000

My totally unscientific happenstance: I have a short sael in the Houston area and the 2nd lienholder thinks they are the 3rd lienholder. I wonder how much bad title work is out thereand what does that foreshadow as distressed sellers try to work out their situations?

I can see it now- first lien holder gets the house on the courthouse steps and then the second lienholder realizes they just got wiped out. By the way, after a 2nd lien (20% leg) gets packaged into interest only and interest and principal CDO tranches, who is the lienholder?