Team Thayer Property Servicing

= While the data released on foreclosure sales and starts for the third quarter indicated substantial declines as those totals move toward pre-crisis levels, the number of non-foreclosure workout solutions seems to be declining at nearly the same rate, according to data released by  HOPE NOW  on Monday. HOPE NOW reported that the mortgage industry assisted approximately 337,000 homeowners in Q3 with non-foreclosure solutions that included both home retention and home forfeiture workout plans. By comparison, the industry completed 76,000 foreclosure sales during the quarter, which calculates to a ratio of 4.4 non-foreclosure solutions for every one foreclosure sale that was completed during the three-month period. While the number of foreclosure sales completed dropped significantly both over-the-quarter (15 percent, down from 89,000) and over-the-year (31 percent, down from 110,000) in Q3 2015, the number of non-foreclosure solutions also declined at similar rates—18...

Freddie Mac   announced on Wednesday  its largest sale ever of deeply delinquent, non-performing loans from its mortgage investment portfolio, consisting of 5,208 loans serviced by  Ocwen Financial  with an unpaid principal balance (UPB) of approximately $1.1 billion. The sale was completed five days before the announcement (on September 11) and the transaction is expected to settle in October 2015. The sale is part of Freddie Mac's Standard Pool Offerings (SPOs). The loans offered were delinquent by an average of three and a half years, meaning that the borrowers were likely previously evaluated for loss mitigation options or in some stage of loss mitigation or foreclosure, according to Freddie Mac. Approximately 33 percent of the aggregate pool balance consisted of loans that were modified and later became delinquent. The aggregate pool has a loan-to-value ratio of approximately 91.1 based on broker price opinion and is geographically diverse, according to ...

REO sales are down by 80 percent from their peak six years ago, but there are still plenty of affordable buying opportunities for homebuyers, according to a commentary  by Chris Bowden,  Freddie Mac 's SVP of HomeSteps , the GSE's real estate sales unit. About 6 percent of all residential home sales in June 2015 were REO sales, compared with their January 2009 peak of 27.6 percent, according to the latest data from  CoreLogic , a decline of about 80 percent. Today's low mortgage rates, which are hovering around 4 percent, provide more opportunities for investors and other buyers seeking an affordable home option. Bowden reminds potential buyers that while buying an REO property is very similar to buying any other house, there are four tips to remember: Find a reputable agent . It will be helpful to find a reputable agent who works actively in the neighborhoods where you are looking to buy a home. Though banks will negotiate, they often employ local pricing strateg...

Freddie Mac  is now offering distressed homeowners a complete guide to foreclosure and how to avoid it, from assessing your situation to what to do when your home has been foreclosed on, as part of a new website  launched this week as a one-stop resource for homeowners. The " MyHome by Freddie Mac " site offers homeowners a number of options under the "Foreclosure and Alternatives" tab that tell a borrower who to contact for help as well as non-foreclosure solutions that include both home retention and home forfeiture options. Freddie Mac first discusses the importance of taking stock of your financial situation and determining what a borrower can and cannot pay for as far as home-related expenses, such as major and minor repairs. If a borrower cannot pay for these things, or is incurring another major expense that will keep them from paying the mortgage, Freddie Mac recommends reaching out to the lender as soon as possible. "Your lender wants to help...