DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/85814
VISIT US ONLINE @ DSNEWS.COM named as defendants. The complaint states Guaranty Bank paid $2.1 billion for the se- curities. The FDIC is seeking at least $677.4 million in damages. In the third complaint, Countrywide Utah rank: 39 90+ Day Securities, CWALT Inc., Countrywide Financial Corporation, Bank of America, Deutsche Bank Securities, and Goldman Sachs were listed as defendants. Guaranty paid $1.5 billion for securities from these issuers and the FDIC is seeking at least $559.7 million in damages, according to the complaint. When Guaranty collapsed in 2009, it had Judge Lifts Allied's Injunction, Allows Lender to Pursue HUD Lawsuit Mortgage that offered relief from a suspen- sion was recently dismissed. In November 2011, Allied was barred by An injunction granted to Allied Home HUD from originating and underwriting new mortgages insured by the Federal Housing Administration (FHA). The agency also suspended Allied's president and CEO, James C. Hodge. HUD accused Allied of violating HUD/ All Licensed Real Estate Team Approach REO Sales Experts • BPOs In-House Legal Department FHA requirements by originating loans from branch offices not approved by FHA and for submitting false information, among other violations. In the complaint, Allied was said to have cost FHA $834 million for the fraudulently originated loans that went into default. Allied countered with its own lawsuit and filed for declaratory and injunctive relief. The mortgage lender said the suspension was "arbitrary and capricious" and done without respecting its right to due process. Allied also said the suspension "will effectively kill Allied Corporation as an ongoing business." A federal judge in Houston provided Oversee Trash Outs, Cash For Keys, Evictions, Bids & Repairs 2.95% 2.93% "Experience is the Difference" Servicing all of Central Texas approximately $13 billion in assets and $12 bil- lion in deposits as of June of that year. 0.58% 90+ Day 4.26% year ago 3.85% percent point change 10.81% -11.72% Top Core-Based Statistical Area ST. GEORGE, UT 90+ Day 2.85% year ago 3.50% percent point change -18.49% -17.13% 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 July 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary July 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 3.18% Delinquency Rate july 2012 2.64% Foreclosure Rate 3.96% Delinquency Rate Foreclosure Rate july 2012 1.88% year ago 2.18% percent point change -13.71% Top County IRON COUNTY Delinquency Rate july 2012 3.50% Unemployment Rate 6.0% 6.8% -11.8% Foreclosure Rate Utah Sterling Castle Realty, Inc Sterling Barton, Broker 801-692-1080 sbarton@sterlingcastlerealty.com www.HouseGals.com MICHELLE SHEEHAN, BROKER 512-251-4950 Direct Line Allied with the preliminary injunction, which was recently lifted by U.S. District Judge Gray Miller. According to the court documents, Miller stated that it was "absolutely clear that the allegedly [improper notice procedure and administrative action complained of] could not reasonably be expected to recur." However, Miller did allow Allied to continue with its claim for declaratory relief, stating that its allegations of continuing harm were "concrete and particularized." HouseGals@gmail.com 1420 Hwy 685 Pfl ugerville, TX 78660 512-989-1094 Fax The Original HouseGals STAT INSIGHT Average pre-foreclosure short sale discount in Utah in Q2. 18% Source: RealtyTrac 107