DS News

DSNews Sept 2015 - 'I Wouldn't Be Here Without...'

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

Issue link: http://digital.dsnews.com/i/567998

Contents of this Issue

Navigation

Page 29 of 131

28 ON THE WEB WEBSITES TO GET TO KNOW. With LASTPASS, you will never have to remember another password. Download it in minutes, and once you have created an account, LastPass will prompt you to save new sites as you browse. Once you have saved a website's username and password, LastPass will autofill the login information for you when you return. Accounts and passwords are stored in an easy- to-use "vault" that allows you to edit and make changes at any time. You can also set up a profile for each credit card, family member, billing, and shipping address in order to streamline your online shopping experience. LastPass uses leading encryption technology to ensure your stored data is secure. ALLBUSINESS is one of the world's largest online resources for small businesses. e site provides real-world expertise from a corps of world-class experts who bring in-depth subject-matter knowledge, and it also gives users essential tools and resources that helps entrepreneurs start, grow, and manage their business. Read original feature stories from real business owners on how they are dealing with issues and challenges, and peruse a large library of how-to articles offering quick, insightful tips on improving your business. Stay up to date on the latest, most important news and trends in small business with special reports and weekly coverage. TECHCRUNCH is a technology media property that profiles startups, reviews new Internet products, and breaks tech news. Follow every company and their technology and innovations. TechCrunch's open database about start-up companies, people, and investors, known as CrunchBase, has become an important statistical resource for technology companies and transactions. In addition to featuring the most up-to-date news about the newest technology, the site also includes a list of tech-related videos and events, along with the "Startup Battlefield," a competition which brings the world's top early- stage startups together on one stage. ALLBUSINESS.COM 2 LASTPASS.COM 1 TECHCRUNCH.COM 3 DISTRESSED SALES SHARE DROPS BELOW 10 PERCENT Distressed home sales, which are sales of REO properties and short sales, comprised 9.9 percent of all U.S. home sales in May, the first time since the recession the distressed sales share dipped below 10 percent, according to data released by CoreLogic on in early August. e national distressed sales share declined by 2.8 percentage points in May 2015 from May 2014's share of 12.7 percent. May 2015's share was the lowest total for any May since 2007, when it was reported at 5 percent. e distressed sales share declined by 1.7 percentage points from April to May, likely caused by seasonal factors, according to CoreLogic. Of the 9.9 percent distressed sales share reported for May, REO sales accounted for 6.4 percent of all home sales, the lowest share for REO since October 2007, when it was reported at 6 percent. e remaining 3.5 percent of distressed sales in May 2015 were short sales, which have remained stable since falling below 4 percent in mid-2014. With the latest decline, the distressed sales share fell about 70 percent from its peak experienced in January 2009, when distressed sales made up 32.4 percent of all residential home sales. During that peak month, REO sales accounted for 27.9 percent of all home sales, according to CoreLogic. Distressed sales typically hovered around 2 percent before the crisis; if the year-over-year decline in distressed sales share continues at its current rate, it would reach that "normal" level of 2 percent by mid- 2018, CoreLogic reported. e five states with the largest share of distressed sales in May were Michigan (21.4 percent), Florida (21.3 percent), Maryland (20.3 percent), Illinois (19.4 percent), and Connecticut (19.3 percent). e state with the largest year- over-year decline in distressed sales share was Nevada, which experienced a drop of 7 percentage points in May. e state with the largest decline since its peak was California, where the distressed sales share has dropped 58.1 percentage points from its peak of 67.5 percent experienced in January 2009. In May 2015, CoreLogic reported that only one state plus the District of Columbia were within one percentage point of their pre-crisis distressed sales share. e three Core-Based Statistical Areas with the largest share of distressed sales based on loan count were all located in Florida— Orlando-Kissimmee-Sanford (24.6 percent), Miami-Miami Beach-Kendall (23.3 percent), and Tampa-St. Petersburg-Clearwater (22.9 percent). Rounding out the top five CBSAs were Chicago-Naperville-Arlington Heights, Illinois (22.2 percent) and Baltimore-Columbia- Towson, Maryland (20.1 percent).

Articles in this issue

Archives of this issue

view archives of DS News - DSNews Sept 2015 - 'I Wouldn't Be Here Without...'