DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/135183
Alabama Arizona rank: 36 90+ Day Delinquency Rate Foreclosure Rate March 2013 3.8% rank: 37 Unemployment Rate 1.5% 7.2% 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.0% 1.5% year ago 3.8% 1.8% 7.2% 2.9% 3.1% 0.0% -30.8% -52.4% Top County PinAl CounTy Foreclosure Rate 90+ Day Delinquency Rate March 2013 3.5% 2.9% year ago year ago 2.4% 5.7% year-over-year change 23.1% 5.7% year-over-year change 38.2% -39.3% Top Core-Based Statistical Area -49.1% Top Core-Based Statistical Area nogAleS, AZ MoBile, Al 90+ Day Delinquency Rate 90+ Day Delinquency Rate Foreclosure Rate 3.3% 2.9% 2.7% year ago 5.6% year ago 2.4% 3.8% year-over-year change 23.1% -23.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. rank: 50 Foreclosure Rate March 2013 Unemployment Rate 0.8% 6.2% year ago 1.2% 0.9% 7.0% year-over-year change -2.1% -14.4% -11.4% Top County MATAnuskA-susiTnA Borough 90+ Day Foreclosure Delinquency Rate Rate March 2013 1.4% 1.2% year ago 1.6% 1.4% year-over-year change -12.6% -15.7% Top Core-Based statistical Area FAirBAnks, Ak 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.3% 1.2% year ago 1.7% 1.1% year-over-year change 31.5% 2.5% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 76 -33.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS Alaska 1.2% 4.1% year-over-year change 38.2% 90+ Day Delinquency Rate Foreclosure Rate March 2013 March 2013 6.9% Foreclosure Rate March 2013 3.3% 5.6% -6.0% Top County MACon CounTy 6.9% 8.4% year-over-year change -14.4% 90+ Day Delinquency Rate 7.9% year ago year-over-year change 1.4% Unemployment Rate LRC Asset Management Program Tackles Fraud, REO Timelines LRC Asset Management, a majorityowned company of Loan Resolution Corporation (LRC), has made available a program that targets fraud and reduces REO timelines to less than 180 days. The Scottsdale, Arizonabased company explains that its program, known as RealtyRecon, significantly lowers code violations by providing agent inspections to verify occupancy for REOs. The RealtyRecon agents assist the program by visiting the properties on a weekly basis and by delivering reports with photographic evidence. "The amount of fraud in REO and short sales is staggering," said Travis Hamel Olsen, co-president of LRC. "RealtyRecon virtually eliminates all fraudulent repair claims by agents and contractors, and those tricky pocket investors that agents sometimes work with, so we can get the owner of the mortgage the full return they deserve." Olsen added, "Our clients have been asking for this resource since the market crashed. It's time for bogus repair claims and fraudulent agents to go the way of the dinosaurs." Last year, LRC was named as one of the fastest-growing companies by Inc. magazine. The company came in at No. 126 after achieving a growth rate of 2,540 percent in three years. V.I.P. Mortgage Selected into Genworth's Leadership Circle In Scottsdale, Arizona, V.I.P. Mortgage, Inc., announced its selection into Genworth U.S. Mortgage Insurance's (USMI) exclusive Leadership Circle. V.I.P. was the only Arizona corporatebased account to receive the award, which recognizes lending excellence as measured by a company's performance, processes, and values. "It's an honor and a privilege to align ourselves with Genworth," said Jay Barbour, founder and president of V.I.P. "The Leadership Circle signifies hard work and dedication, all of which our employees strive to be each and every day. This award affirms we're on the right track." The Leadership Circle offers exclusive services and value-added benefits, including a dedicated underwriting team, exclusive training opportunities, consulting services, and market intelligence calls. Membership selection includes historical loan performance, adherence to quality process, and other due-diligence criteria. "Attaining Leadership Circle status places V.I.P. among the best performers in our customer base in terms of loan performance and business practices, due to their focus on strong origination, underwriting, and risk management processes," said Jorge Caceres, director of customer solutions at Genworth USMI. KNOW THIS Time-to-foreclose in Arizona was flat from March to April at 145 days, according to ForeclosureRadar.