Mortgage

Although foreclosure starts increased only slightly in the month of April, FHA foreclosure starts skyrocketed. LPS explains how the crash led up to this April's starts.

According to the Mortgage Bankers Association, the volume of mortgage applications fell slightly last week, but remain similar to levels of previous weeks.

Mortgage application volume rose for the week, with the refinance share regaining lost ground as purchase applications slid slightly. The MBA points to the continuing sovereign debt crisis in Europe which has had an impact on the U.S. Treasury yield.

Mortgage delinquencies are improving even better than many had expected, assuaging fears that a shadow inventory could prevent any housing recovery. Fully 46 states saw improvement in loan performance, as New Jersey, Maryland, Delaware and Washington did not improve.

It is common to hear of banks foreclosing on the wrong address, but it is nearly unheard of that a purchased home is the wrong address, it's nearly unfathomable, but in Mississippi, that is exactly what has happened.

When processing short sales, it’s important to know about how each of the lending institutions handles loss mitigation and paperwork processing. If you have done a few short sales in Equator with different lenders, you may see what while your same Equator account is used for all your short sales at all the lending institutions, each of the servicers uses the platforms in a different manner.

As the volume of mortgage application activity finally increases, the share of refinance volume continues to decrease, according to new data from the Mortgage Banker's Association.

Wells Fargo has disclosed through a SEC filing that the bank is on the verge of yet another federal lawsuit for their allegedly steering minorities into risky mortgages that would have qualified for traditional loans, but this is not the first lawsuit Wells has faced for this issue.