DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/376795
92 Connecticut RANK: 6 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JUNE 2014 2.55% 3.06% 6.6 YEAR AGO 2.72% 4.83% 7.9 YEAR-OVER-YEAR CHANGE -6.2% -36.6% -1.3 Top County WINDHAM COUNTY 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 3.87% 4.87% YEAR AGO 3.55% 7.45% YEAR-OVER-YEAR CHANGE 9.1% -34.6% Top Core-Based Statistical Area WILLIMANTIC, CT 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 3.87% 4.87% YEAR AGO 3.55% 7.45% YEAR-OVER-YEAR CHANGE 9.1% -34.6% 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 June 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary June 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin STATE OF AFFAIRS: NORTHEAST » Delaware RANK: 11 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JUNE 2014 2.98% 2.36% 6.2 YEAR AGO 3.62% 2.88% 6.8 YEAR-OVER-YEAR CHANGE -17.5% -18.2% -0.6 Top County KENT COUNTY 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 4.29% 3.61% YEAR AGO 5.08% 3.75% YEAR-OVER-YEAR CHANGE -15.6% -3.8% Top Core-Based Statistical Area DOVER, DE 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 4.29% 3.61% YEAR AGO 5.08% 3.75% YEAR-OVER-YEAR CHANGE -15.6% -3.8% 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 June 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary June 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Delaware Banker Charged with TARP Bank Fraud e Office of the Special Inspector Gen- eral for the Troubled Asset Relief Program (SIGTARP) announced the latest enforce- ment action in its efforts to stamp out fraud against banks that received TARP funds. Peter Hayes, a former lender at TARP recipient Wilmington Trust of Delaware, was charged in a seven-count indictment in connection with an alleged bank fraud scheme in which he and others benefited at the expense of the bank. "Hayes stands charged with bank fraud, bribery, and fraudulently benefiting from loan transactions for a multitude of various of- fenses," said Christy Romero, special inspec- tor general for TARP. "is type of fraud and self-dealing is unacceptable, and SIGTARP and our law enforcement partners will pursue any offenders whose conduct jeopardizes tax- payers' TARP investments to hold perpetra- tors accountable for their crimes." SIGTARP is involved in the prosecu- tion of all cases involving crimes that have been committed against banks that received TARP funding during the financial crisis. e indictment alleges that Hayes en- gaged in several fraudulent transactions with a single customer of the bank for his own benefit and the benefit of the customer. First, Hayes knowingly caused Wilming- ton Trust loan funds to be disbursed to the customer for purposes that were not autho- rized by the bank's loan agreements with the customer. Further, it accuses Hayes of submit- ting false information in support of draw re- quests to provide funding to the customer. e requests included funds to cover overdrafts in the customer's operating bank account. e indictment also alleges that Hayes caused the bank to lend funds without loan committee approval to an investment company founded by the customer's president so that the company could purchase model homes. e model homes would then be leased back to the customer or others. e government contends that Wilming- ton Trust suffered millions of dollars in losses associated with Hayes' fraudulent actions. District of Columbia RANK: 20 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JUNE 2014 2.39% 1.90% 7.4 YEAR AGO 2.91% 2.45% 8.4 YEAR-OVER-YEAR CHANGE -18.0% -22.3% -1 Top County DISTRICT OF COLUMBIA 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 2.39% 1.90% YEAR AGO 2.91% 2.45% YEAR-OVER-YEAR CHANGE -18.0% -22.3% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate JUNE 2014 2.01% 1.30% YEAR AGO 2.91% 2.45% YEAR-OVER-YEAR CHANGE -30.9% -46.9% 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 June 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary June 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Foreclosure filings in Connecticut were 37 percent lower in July 2014 year- over-year, according to RealtyTrac. KNOW THIS