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ยป IN THE NEWS Oregon rank: 18 90+ Day Delinquency Rate Foreclosure Rate november 2012 2.23% Unemployment Rate 3.09% 8.4% year ago 2.24% 3.30% 9.1% percent point change -0.3% -6.3% -7.7% Top County 90+ Day Delinquency Rate CrOOk COunTy Foreclosure Rate november 2012 2.86% 6.37% year ago 2.89% 7.41% percent point change -0.8% -13.9% Top Core-Based Statistical Area Prineville, Or 90+ Day Delinquency Rate Foreclosure Rate november 2012 2.86% 6.37% year ago 2.89% 7.41% percent point change -0.8% -13.9% 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. Pennsylvania rank: 16 90+ Day Delinquency Rate 2.95% Foreclosure Rate november 2012 Unemployment Rate 3.55% 7.8% year ago 3.18% 3.27% 7.8% percent point change -7.3% 8.8% 0.0% Top County Monroe CounTy 90+ Day Delinquency Rate november 2012 6.02% Foreclosure Rate 13.29% year ago 6.85% 11.35% percent point change -12.1% 17.1% Top Core-Based Statistical Area eAST STroudSBurg, PA 90+ Day Foreclosure Delinquency Rate Rate november 2012 6.02% 13.29% year ago 6.85% 11.35% percent point change -12.1% note: 17.1% 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. NREIS to Close Pittsburgh Location, Leading to 215 Layoffs National Real Estate Information Services (NREIS) is shutting the doors to its Pittsburgh office this month, according to a Worker Adjustment Retraining Notification (WARN) Act notice posted on the Pennsylvania Department of Labor and Industry's website. The closing will begin February 15 and will affect 215 employees. NREIS employs more than 1,200 people, according to the company's website. The address listed on the NREIS' notice is the same as that of another real estate services provider, Secured Lending Services. A reader of sister publication MReport forwarded an email exchange allegedly between a Realtor and a manager at IREP, an NREIS subsidiary. The exchange was posted to an online message board for agents and brokers. In the email, the manager said, "National Real Estate gave notice that they will close in 60 days so March 1 they will no longer be in business. Secured Lending is working business as usual right now." According to another WARN Act notice on the Texas Workforce Commission's website, the company is laying off an additional five employees in its Dallas office. The WARN letter issued to the TWC says the layoffs are a result of the "dissolution and windup of NREIS of Texas, LLC." It goes on to say the "separation of employment with the company is expected to be permanent and there will not be any bumping rights." Survey: Rising Prices Motivate Buyers to Purchase Now The expectation that prices will continue rising is creating urgency among consumers to buy now, according to a Redfin survey of 1,084 active homebuyers. The percentage of homebuyers who believe prices are bound to move higher in the next 12 months increased to 71 percent in the fourth quarter of 2012 from 61 percent in third quarter, according to the survey. The fourth VISIT US ONLINE @ DSNEWS.COM quarter share was also more than double from 34 percent in the first quarter. More respondents cited rising prices as an incentive to purchase a home now, with 33 percent falling into this category compared to 29 percent in the third quarter of last year and 19 percent in the first quarter. While rising prices are causing some buyers to purchase now, low inventory is prompting others to hold off on their search. Thirty-eight percent of respondents say they plan to take a break and wait for more listings. Meanwhile, other buyers are compensating for the lack of listings by expanding their search area, with 46 percent indicating they are home shopping in areas not previously considered. Buyers still cited low interest rates as the leading reason to buy, but the share decreased to 57 percent in the fourth quarter from 64 percent in the third quarter. According to the survey, Americans appear to be less discouraged by the state of the economy. Just 22 percent of respondents say a weak economy is a major concern for buying now, a decrease from 27 percent in the third quarter. As prices rise, the survey also found that during the nine months between the first quarter survey and the fourth quarter survey, the percentage of buyers who were also potential home sellers doubled from 8 percent to 16 percent. Repeat buyers are also planning to make upgrades with their next purchase. When asked about the planned size of their next home compared to their current home, 49 percent indicated plans to buy a "much bigger" home. In addition, 41 percent plan to buy a home that is the same size but nicer, more affordable, or in a different location. Redfin says it expects "2013 to be the year of the move-up buyer." STAT INSIGHT 2,539 Foreclosure sales in Pennsylvania in the third quarter of 2012 Source: RealtyTrac 121