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Hawaii rank: 4 90+ Day 2.58% 3.16% -18.47% 90+ Day 3.30% year ago 4.44% percent point change -25.53% 36.54% Top Core-Based Statistical Area HONOLULU, HI 90+ Day 2.21% year ago 2.54% percent point change -12.93% 40.03% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 2.98% Delinquency Rate june 2012 4.18% Foreclosure Rate 8.43% Delinquency Rate Foreclosure Rate june 2012 6.41% year ago 4.72% percent point change 35.81% Top County HAWAII COUNTY Delinquency Rate june 2012 11.51% Foreclosure Rate Unemployment Rate 6.4% 6.7% -4.5% conducted non-judicial foreclosure auctions for quitclaim deeds, meaning the properties are sold "as is" and without a guaranteed clear title. However, the banks then alleg- edly provided winning bidders with limited warranty deeds, which ensure fee-simple title and are thus more valuable, duping residents out of $50,000 in additional yields in some cases. Additionally, the suit against Routh The suits allege the banks advertised and Crabtree Olsen alleges the firm did not publicly announce postponement of auctions, did not use licensed attorneys to conduct the auctions, and filed false affidavits about the transactions. The firm is also accused of de- livering limited warranty deeds in violation of notices that sales would be for properties "as is." The suit seeks class action status for an or obtain licensing as long as they only origi- nate residential loan modifications as part of their employee duties. Similar exemptions are made for those who originate loans for nonprofits registered with the Nationwide Mortgage Licensing System and Registry. Registered mortgage originators acting as subsidiaries of federally regulated depository institutions are now subject to provisions of the SAFE Act, as well. Hawaii also passed a law giving the Commissioner of Financial Institutions the authority to require servicers to register with the Nationwide Mortgage Licensing System. The bill states servicers must comply with all licensing requirements of the SAFE Act before offering loan modifications. STAT INSIGHT estimated 700-800 residents whose non-judi- cial foreclosures were assisted by the firm and the other co-defendants. The plaintiffs seek to represent close to 3,000 borrowers whose properties went through the same process and are looking to collectively recoup mil- lions of dollars in damages, which would be tripled under Hawaii's unfair and deceptive practices law should the plaintiffs win. Spokespeople for U.S. Bank and Wells IN THE NEWS Aloha State Residents Allegedly Lost Millions in Foreclosure Sales against banks related to alleged unfair foreclo- sure sales practices. According to the Honolulu Star-Advertiser, lawsuits have been brought against Deutsche Bank, Bank of America, U.S. Bank, and Wells Fargo. In addition, a suit has also been filed against Routh Crab- tree Olsen, a Washington firm with offices in Hawaii, for its alleged involvement. The lawsuits allege residents received Hawaii is seeing a number of lawsuits lower prices than they should have for their properties sold through non-judicial foreclosure auctions. The plaintiffs say the institutions named as defendants commit- ted multiple violations of state non-judicial foreclosure laws and kept residents from getting the highest possible prices for their properties. The amount of losses for the residents reaches into the millions of dollars, according to their attorneys. 118 Fargo denied involvement in the foreclo- sures. Hawaii Adopts New Laws for Originators, Servicers new laws in late July related to mortgage servicing and origination. All three went into effect at the beginning of August. The first requires the state's Office of The Aloha State recently passed three Consumer Protection to educate consum- ers on fraud schemes aimed at homeowners facing foreclosure. It also establishes charges of a Class C felony and fines of $10,000, plus other possible penalties for violators of Hawaii's Mortgage Rescue Fraud Prevention Act. ment for Mortgage Licensing Act calls for adjustments to loan originator registration fees and amends Hawaii's Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) to comply with recent changes to federal laws. Those who originate loans on behalf of a mortgage servicer are not required to register The Hawaii Secure and Fair Enforce- Hawaii during the 12 months ended in June. Source: CoreLogic Completed foreclosures in 449 Idaho rank: 26 90+ Day 2.07% 2.34% -11.59% 90+ Day 5.50% year ago 7.74% percent point change -29.02% 77.91% Top Core-Based Statistical Area BOISE CITY-NAMPA, ID 90+ Day 2.30% year ago 2.77% percent point change -16.92% -6.99% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 3.15% Delinquency Rate june 2012 2.93% Foreclosure Rate 3.33% Delinquency Rate Foreclosure Rate june 2012 2.80% year ago 2.70% percent point change 3.73% Top County LINCOLN COUNTY Delinquency Rate june 2012 5.93% Foreclosure Rate Unemployment Rate 7.7% 8.8% -12.5%