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MortgageOrb.com | “After five consecutive months of steady decline, the delinquency rate for U.S. home mortgages spiked nearly 10% in June, month over month, according to Lender Processing Services’ (LPS) “First Look” Mortgage Report. The total U.S. loan delinquency rate (loans 30 or more days past due but not in foreclosure) reached 6.68%, an increase ofRead more

Fox23.com | “Ally Financial and its related companies are paying about $198 million to settle federal complaints that the companies wrongfully foreclosed on homeowners. The Federal Reserve announced the agreement Friday with Ally Financial, the former lending arm of General Motors known as GMAC Mortgage. Ally’s settlement is similar to accords between federal regulators and 13 otherRead more

Ben Hallman | Huffington Post | “Like millions of Americans who tried to stave off foreclosure in recent years, Lanette Worles says her bank repeatedly lost vital paperwork she submitted, scuttling her chance at saving her home. Now, as Worles attempts to collect on a legal settlement intended as a remedy to just this type of practice, sheRead more

Margaret Chadbourn | Reuters | “President Barack Obama is considering nominating Federal Reserve Governor Sarah Bloom Raskin to replace the U.S. Treasury Department’s No. 2 official, Neal Wolin, a source familiar with the matter said on Tuesday. Raskin, a former state banking regulator, has served on the U.S. central bank’s board since October 2010. She would bringRead more

Watch List News | “HARP Mortgage Lender, a national Internet network of pre-approved loan specialists qualified to deal in the Obama administration’s Home Affordable Refinance Program (HARP), reports that recent government figures see Florida borrowers using more HARP loans for deeply underwater borrowers than any state in the nation—a clear signal that updates made to the program,Read more

Steven Perlberg |   “Real estate investors are getting back in the flipping game, netting an average gross profit of nearly $20,000 on single family home flips in the first half of 2013. Home flips are up 19% from a year ago and 74% from the first half of 2011,according to a new report from Realtytrac .Read more

Shanthi Bharatwaj | NuWire | “A total of 127,790 properties had foreclosure filings in June, down 14% from the previous month and down 35% from a year ago, reaching their lowest level since December 2006, according to a report released by RealtyTrac. In the first half of 2013, a total of 801,359 properties had a foreclosureRead more

CBS Miami | (Photo by Al Messerschmidt/Getty Images) “FORT LAUDERDALE (AP) — Former Miami Dolphins quarterback Daunte Culpepper has lost one of his South Florida homes he owned to a bank in a foreclosure case. Broward County court records show the 9,867-square-foot home was surrendered in April to SunTrust Bank in lieu of foreclosure. TheRead more

ecreditdaily.com | “Recipients in California and Florida have received nearly one-third of the checks distributed under the Independent Foreclosure Review, according to new data released by bank regulators. That’s out of $2.326 billion cashed or deposited as of May 31, 2013, according to a state-by-state table released by the Office of the Comptroller of the Currency, the regulatorRead more

Jonathan Stempel | Reuters | “Bank of America Corp (BAC.N) rejected allegations that greed and bad faith drove the bank and its workers to push distressed homeowners into foreclosure, rather than help them obtain loan modifications to which they were entitled. The second-largest U.S. bank made its argument in court filings on Friday, in an effortRead more