DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/91566
Greater Kansas City, took place at the Harry S. Truman Library and Museum in Independence, Missouri, within the Kansas City metropolitan area. Speakers put the importance of Restraining Order Halts Mediation Ordinance in St. Louis County homeownership into perspective when they told rally participants that during the worst of this recession, roughly 3.2 million Americans were out of work as a result of the housing downturn. Speakers at the rally included U.S. Rep. Emanuel Cleaver (D-Missouri), Independence Mayor Don Reimal, Kansas Secretary of Revenue Nick Jordan, Missouri Attorney General Chris Koster, and Missouri Lieutenant Gov. Peter Kinder, among others. "We will not have a fully growing economy until our housing market is back where it was before the downturn," Lt. Gov. Kinder stressed in his address. Participants at the rally were urged restraining order was issued to prohibit St. Louis County from implementing or enforcing an ordinance that would require lenders to notify borrowers of their right to mediation, South & Associates, P.C., announced in an email alert to clients. The Mortgage Bankers Association of On Thursday, September 27, a temporary Nebraska rank: 48 90+ Day 1.63% 1.69% -3.8% 90+ Day to reach out to their elected leaders and pass on the message that Americans value homeownership and that the housing market is capable of generating millions of jobs and the type of revenue that could kick-start the nation's frail economic recovery into high gear. NAHB organized nine homeownership rallies in key "swing states" leading up to the November election with the goal of making homeownership a top priority for lawmakers. The trade group and its supporters are advocating for elected officials to ensure the mortgage interest deduction is protected, mortgage credit is readily available, and steps are taken to resolve the foreclosure crisis. KNOW THIS The analysts at Barclays forecast Missouri home prices to rise just 1.7% in 2012, but annual gains to reach 6.1% in 2013 and 6.7% in 2014 and 2015. 94 90+ Day 1.80% year ago 3.20% percent point change -43.8% 304.2% Top Core-Based Statistical Area MISSOULA, MT 90+ Day 1.48% year ago 1.32% percent point change 12.0% -8.7% 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 August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 1.55% Delinquency Rate august 2012 1.42% Foreclosure Rate 1.15% Missouri filed a lawsuit on September 24 requesting the restraining order to prevent implementation of the ordinance, which was scheduled to take effect September 28. The ordinance, known as Ordinance No. 25,190, assesses a fine of up to $1,000 for lenders who violate the ordinance. The court scheduled a hearing on a Motion for Preliminary Injunction October 15, according to South & Associates. South & Associates specializes in protecting the rights of creditors and has offices in Overland Park, Kansas; Wichita, Kansas; St. Louis, Missouri; Omaha, Nebraska; and Des Moines, Iowa. Montana rank: 42 90+ Day 1.26% 1.49% -15.8% Delinquency Rate Foreclosure Rate august 2012 1.70% year ago 1.86% percent point change -8.7% Top County BROADWATER COUNTY Delinquency Rate august 2012 4.65% Foreclosure Rate Unemployment Rate 6.3% 7.0% -10.0% 2.50% year ago 2.55% percent point change -2.1% 23.2% Top Core-Based Statistical Area OMAHA-COUNCIL BLUFFS, NE-IA 90+ Day 1.85% year ago 1.91% percent point change -3.4% -6.8% 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 August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 1.39% Delinquency Rate august 2012 1.29% Foreclosure Rate 3.54% Delinquency Rate Foreclosure Rate august 2012 1.19% year ago 1.34% percent point change -11.3% Top County BURT COUNTY Delinquency Rate august 2012 4.37% Foreclosure Rate Unemployment Rate 4.0% 4.5% -11.1% IN THE NEWS SEC Charges Three Former Bank Execs for Understating Losses Commission (SEC) formally charged three former executives of Nebraska-based TierOne Bank, the agency announced in late September. The SEC charged Gilbert G. Lundstrom, who served as CEO and chairman of the board at TierOne Bank; former president and COO James A. Laphen; and former chief credit officer Don A. Langford for allegedly understating millions of dollars in loan-related losses and losses from the bank's real estate repossessions. According to the SEC, TierOne The Securities and Exchange ventured into riskier lending practices in high-growth areas such as Las Vegas and started experiencing a significant increase in high-risk problem loans. Due to the increase in high-risk loans, the Office of Thrift Supervision (OTS), the bank's regulator, directed TierOne to increase its capital ratios.