Higher loss severities on foreclosures will push servicers to short sales in 2011: Fitch

Residential Law Group of Suzanne Watts, LLC is a Law Firm specializing in the legal implications of short sales. Suzanne Watts is a licensed Attorney and Realtor. We assist both sellers and buyers, as well as other Attorneys and Realtors.

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In fact, short sales on homes with subprime loans incur loss severities about 20 percent lower than loss severities incurred on REO sales, according to Fitch. For now, Fitch does not expect any declines in loss severities, but moving forward, the agency expects lower loss severities on currently performing loans that fall delinquent.

Lengthy foreclosure timelines carry hidden costs for homebuyers Foreclosure timelines for private-label residential mortgage-backed securities loans backed by properties in California and Nevada, two non-judicial foreclosure states, will remain lengthy over.

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which banks are exposed to losses on the liens, and the extent to which the banks. second-lien holders may exacerbate foreclosures and thereby impede the.. $10.3 trillion of home mortgage debt outstanding at the end of 2011.10 As for the.. modifications, they will effectively block a refinancing, short sale, or DIL of the.

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Fitch Takes Various Actions on 1,246 U.S. Subprime RMBS Deals. further in 2011 as foreclosures continue to face procedural challenges.. putting further pressure on loss severities. Fitch.

orous enforcement of HUD's loss mitigation requirements for servicers would have. home loans created with fha financing increased significantly, to.. property to an owner-occupant through a short sale or post-foreclosure sale, or renting out.. through the program from its inception in mid-2008 through March 2011.

Zillow home values rise for 16 consecutive months Home prices that have been rising over the last 16 months. Zillow. Prices rose in most of the top 30 metropolitan areas surveyed by Zillow, but they rose at a rate of 0.5 percent, compared to 2.1.

Short sales increased rapidly over the last several quarters, but. foreclosure tripled over the last two years and will increase another. By the end of 2011, banks could face $375 million in losses from short sale fraud, Higher loss severities on foreclosures will push servicers to short sales in 2011: Fitch.

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