DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/84661
VISIT US ONLINE @ DSNEWS.COM and 3,713 townhomes and condos listed for sale in June. The number of homes available for sale without a pending or contingent offer also dropped both monthly and yearly. By the end of June, the organization reported 3,690 single-family homes listed without any sort of offer and 1,083 townhomes and condos listed without offers. Almost 35 percent of existing homes sold during June were short sales, and bank- owned homes made up 27.8 percent of all existing-home sales. "Since banks have been encouraging short sales and doing fewer foreclosures, short sales have finally surpassed [sales of] foreclosures," Kelley said, adding that because short sales are better for homeowners and neighbor- hoods than foreclosure, the trend "is a good thing." KNOW THIS Home prices in Las Vegas rose 3.8% from July 2011 to July 2012, according to Clear Capital. New Hampshire rank: 38 90+ Day 2.37% 2.38% -0.33% 90+ Day 3.20% year ago 3.36% percent point change -4.65% 21.14% Top Core-Based Statistical Area MANCHESTER-NASHUA, NH 90+ Day 2.31% year ago 2.33% percent point change -1.05% -5.12% 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. 2.00% Delinquency Rate june 2012 1.89% Foreclosure Rate U.S. Attorney Charges 11 for Mortgage Fraud, One for Attempted Murder trict of New Jersey, announced in late July that 11 people were charged for their alleged roles in a mortgage fraud scheme, including one defen- dant who attempted to murder a witness. Paul J. Fishman, U.S. attorney for the Dis- 3.28% IN THE NEWS 2.57% percent point change 10.20% 16.95% Top Core-Based Statistical Area ALBUQUERQUE, NM 90+ Day 2.34% year ago 2.29% percent point change 2.19% 13.93% 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. 4.03% Delinquency Rate june 2012 4.59% Foreclosure Rate Delinquency Rate Foreclosure Rate june 2012 1.99% year ago 2.11% percent point change -5.99% Top County SULLIVAN COUNTY Delinquency Rate june 2012 3.97% 2.84% year ago 6.27% Foreclosure Rate Unemployment Rate 5.1% 5.5% -7.3% New Jersey rank: 2 90+ Day 5.19% 3.12% 66.46% 90+ Day 7.04% year ago 4.40% percent point change 59.93% -5.46% Top Core-Based Statistical Area ATLANTIC CITY, NJ 90+ Day 7.33% year ago 4.29% percent point change 70.88% -5.22% 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. The GSEs allow a maximum 750 days to complete judicial foreclosures in New Jersey. New Jersey Lisa G Lopez Broker of Record Home Alliance Realty 142 E. Bay Ave Manahawkin, NJ 08050 609-978-9009 (o) 609-384-5109 (c) lglopez@verizon.net www.HomeAllianceRealty.com www.LisaLopezProperties.com 90+ Day New Mexico rank: 14 90+ Day 2.01% 1.99% 0.88% Delinquency Rate Foreclosure Rate june 2012 4.04% year ago 3.69% percent point change 9.56% Top County TORRANCE COUNTY Delinquency Rate june 2012 7.33% Unemployment Rate 6.5% 7.5% -13.3% Foreclosure Rate 9.90% Delinquency Rate june 2012 9.38% Foreclosure Rate 12.23% Delinquency Rate Foreclosure Rate june 2012 6.97% year ago 7.34% percent point change -5.02% Top County ESSEX COUNTY Delinquency Rate june 2012 11.56% Unemployment Rate 9.6% 9.4% 2.1% Foreclosure Rate New Jersey and others from Pennsylvania, Massachusetts, Georgia, and Alabama. The defendants allegedly carried out a $15 million mortgage fraud scam that used phony docu- ments and straw buyers to make illegal profits on overvalued condos. All defendants are charged with con- The 11 individuals include seven from spiracy to commit wire fraud; five are also facing charges of conspiracy to commit money laundering. One defendant, Kinard J. Henson, of Ventress, Alabama, is charged with the attempted murder of a straw buyer who was a witness to the fraud. "Members of the scheme were willing to launder money—and even to kill—in order to get their hands on the profits and cover their tracks," Fishman said. "This case il- lustrates not only the seriousness of mortgage fraud, but also our focus on eliminating the criminal element from our markets to protect the health of our wider economy." KNOW THIS 129