DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/108762
see declines in delinquencies. The mortgage delinquency rate in Georgia is expected to fall by 9.19 percent over the coming year. TransUnion also predicts declines for Florida (-8.39 percent), New York (-7.67 percent), and New Jersey (-4.95 percent). MortgageKeeper Reports Increase in Homeowners Seeking Referrals Even though the housing market is improving and mortgage delinquencies are declining, MortgageKeeper Referral Services reported a busy year in 2012. Downers Grove, Illinois-based MortgageKeeper is the developer of a Web-based data application that connects struggling homeowners with qualified nonprofit and government agencies. According to a company report, homeowners received 900,000 referrals in 2012, and daily referrals rose from 2,300 a day in the beginning of 2012 to 3,100 per day by the end of the year, representing a 34 percent increase. MortgageKeeper says the top three referral categories last year were utility assistance, food assistance, and housing and credit counseling. Other high-ranking referral categories included employment resources, prescription drug assistance, and rental housing. The top categories also reveal leading causes of mortgage delinquencies. "Even though the housing crisis and job market show encouraging signs of improvement, millions of consumers are still struggling with less income, higher living expenses, and persistent mortgage delinquency," said Rochelle Nawrocki Gorey, president of MortgageKeeper. "We offer resources in more cities than ever before, and see strong demand from our customers." Counselors and servicers who subscribe to MortgageKeeper's database have access to a list of nonprofit and government agencies that have already been researched and are oftentimes located just a few miles from the homeowner who is seeking help. MortgageKeeper Referral Services' subscribers include Ocwen Loan Servicing and the Homeownership Preservation Foundation. 110 Indiana rank: 14 90+ Day Delinquency Rate Foreclosure Rate november 2012 3.03% Unemployment Rate 3.63% 8.0% year ago 3.22% 4.45% 9.1% percent point change -6.1% -18.4% -12.1% Top County SwITzerland CounTy 90+ Day Delinquency Rate Foreclosure Rate november 2012 3.41% 7.40% year ago 3.31% 7.21% percent point change 3.1% 2.5% Top Core-Based Statistical area 90+ Day Delinquency Rate PlymouTh, In Foreclosure Rate and operations personnel on January 16. An additional event will be held at the Enfield facility for underwriting, processing, and sales personnel this month. "We're headed into a brand new year with an aggressive plan that calls for increasing our capacity, extending our product portfolio, and expanding our reach into new markets," said Ray Brousseau, EVP of Carrington Mortgage Services, LLC's Mortgage Lending Division. "Opening the year with two new facilities designed to meet increasing demands within the market and improve the level of service to our East Coast customers demonstrates Carrington's commitment to growth in 2013." Carrington Mortgage Services is headquartered in Santa Ana, California. STAT INSIGHT november 2012 3.87% 6.51% year ago 4.34% 6.39% percent point change -10.9% 1.7% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the November 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Carrington Mortgage Expands into Indiana and Connecticut The lending division of Carrington Mortgage Services, LLC, is expecting serious company growth in 2013—and it starts with new offices in Indiana and Connecticut, the company announced. The two new operations centers (located in Fishers, Indiana; and Enfield, Connecticut) will be dedicated to serving the East Coast from both the retail and wholesale lending perspective. The facilities will provide expanded underwriting and processing capabilities, leading to enhanced service and quicker turn times for loans. The company's Fishers office opened January 2 and is led by manager Jeremy Milner. The Enfield facility opened January 15 and will operate as a dedicated underwriting center led by underwriting manager Margaret Ploof. Carrington hosted a career open house event at its Fishers facility for underwriters Annual change in property values in Indiana in November 2012. Source: CoreLogic Iowa rank: 25 90+ Day Delinquency Rate Foreclosure Rate november 2012 1.69% Unemployment Rate 2.56% 4.9% year ago 1.78% 2.90% 5.6% percent point change -5.0% -11.9% -12.5% Top County LouIsa CounTy 90+ Day Delinquency Rate Foreclosure Rate november 2012 3.83% 5.95% year ago 2.82% 5.64% percent point change 35.8% 5.5% Top Core-Based statistical area BurLIngTon, Ia-IL 90+ Day Delinquency Rate november 2012 2.79% Foreclosure Rate 3.84% year ago 3.56% 3.20% percent point change -21.5% note: 19.7% The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the November 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services.