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Leveraging its ability to offer comprehensive title services, RedVision is bundling additional components consisting of a lien priority policy and recording service to offer a new streamlined loan modification solution. From due-diligence reporting on the status of the title, through the recording of the loan modification documents and facilitating the issuance of lien priority insurance, RedVision's team of specialists will assist clients through steps related to tracking, recording, and lien priority policy issuance, the company explained. Specific functions the loan modification services bundle provides include the ability to generate and ensure quality control of current-owner title report; review the title report and assign eligibility grade; perform a quality-control review of an executed loan modification agreement prior to recording; coordinate the electronic recording or direct record via delivery to the county recorder's office; and confirm recording and scan a copy of the recorded document, in addition to several other benefits. RedVision's client relationship team is also available to meet with clients to create a process that is tailored based on their specific needs. rank: 14 Foreclosure Rate April 2013 1.9% Unemployment Rate 3.3% 6.7% year ago 1.8% 4.2% 7.0% year-over-year change 0.3% -21.2% -4.3% Top County TorraNCe CouNTy 90+ Day Delinquency Rate April 2013 2.4% Foreclosure Rate 7.5% year ago 3.0% 7.4% year-over-year change -19.0% 0.9% Top Core-Based Statistical area GraNTS, NM 90+ Day Delinquency Rate Foreclosure Rate April 2013 2.4% 4.9% year ago 1.9% 5.9% year-over-year change 25.8% -17.1% 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 April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 84 rank: 3 90+ Day Delinquency Rate Foreclosure Rate April 2013 3.3% Unemployment Rate 5.9% 7.8% year ago 3.0% 6.1% 8.6% year-over-year change 9.4% -3.6% -9.3% Top County SullivaN CouNTY 90+ Day Delinquency Rate April 2013 3.0% Foreclosure Rate 2.9% year ago 3.2% 3.7% year-over-year change -6.2% -23.9% Top Core-Based Statistical area KiNgSToN, NY 90+ Day Delinquency Rate Foreclosure Rate April 2013 5.3% 8.7% year ago 4.4% 8.6% year-over-year change 20.6% 0.9% 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 April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS New Mexico 90+ Day Delinquency Rate New York New York AG Sues HSBC, Alleging Failure to Follow Foreclosure Law HSBC faces a lawsuit from New York Attorney General Eric T. Schneiderman, who accused the bank of failing to follow a state foreclosure law that mandates a settlement conference for past due borrowers. Schneiderman's suit names HSBC Bank and HSBC Mortgage Corporation as defendants, alleging HSBC repeatedly failed to file a Request for Judicial Intervention (RJI) in a timely manner in hundreds of foreclosure cases. After filing an RJI, lenders are required to attend a settlement conference within 60 days to provide an opportunity for borrowers to negotiate alternatives to foreclosure, including loan modifications. According to Schneiderman, delays in filing the RJI increase the risk that homeowners will lose their home and leads to a backlog of foreclosure cases. "Companies like HSBC are brazenly ignoring state law, leaving homeowners across New York stuck in a legal limbo where they can't even get the legally required settlement conference that could help them keep their homes," said Attorney General Schneiderman. "For homeowners facing foreclosure, time is their greatest enemy. Every day spent waiting for a settlement conference is a day that the lender piles on additional interest, fees, and penalties, and the homeowner falls further behind." The investigation by the attorney general's office resulted in the identification of nearly 300 instances of delayed RJI filings in four New York counties—Erie, Monroe, Suffolk, and Bronx. In some cases, officials say homeowners waited for two years for the bank to file the RJI. According to first-quarter data from RealtyTrac, New York has the longest foreclosure timeline out of any other state at 1,049 days. "Although identifying these cases takes significant resources, my office will continue to bring these types of cases until every homeowner in the shadow docket receives the relief they are legally entitled to," Schneiderman stated. In an emailed statement to DS News, an HSBC spokesperson said, "HSBC is committed to compliance with all applicable laws, which includes those related to foreclosure. We will respond appropriately to the state AG in this matter." New York AG Presses for Passage of Two Foreclosure Bills New York Attorney General Eric T. Schneiderman recently brought attention to two foreclosure bills meant to provide greater protection to homeowners in the state. The Certificate of Merit bill (A. 5582) and the Foreclosure Fraud Prevention Act (A.7395) both passed the New York State Assembly in June. Schneiderman urged support for the bills as they made their way to the New York State Senate. The Certificate of Merit bill gives homeowners who are facing foreclosure the chance to participate in a court-supervised mediation session with their bank, giving homeowners the chance to try and negotiate a solution outside of foreclosure rather than lose their home or remain in legal foreclosure limbo in New York.

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