Default and Claims
At the end of May, servicers reported 713,104 FHA mortgages in serious delinquency (90+ days or in bankruptcy or
foreclosure) yielding a serious delinquency rate of 9.4 percent — the same as last month.
So far this fiscal year, FHA has paid 178,110 single family claims. This total is 21.4 percent lower than the year-to-date
count seen in FY 2011. The decline is confined to loss mitigation claims, which are down 47 percent (77,512 versus
145,479). Conveyance claims for FY 2012 are now greater than at this point in FY 2011 (67,557 vs. 61,474) as a result
of higher March – May activity, and following the National Mortgage Settlement. Pre-foreclosure sale claims have been
higher in each month of FY 2012 than they were in FY 2011, so that year-to-date activity is up 78 percent (23,977 vs.
13,502). In addition, there have been 7,719 HECM claims paid and 1,345 other claim actions in this fiscal year.
Full report below…
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4closureFraud.org
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Only this many more?I thought it was supposed to get better not worse.They are still lying to people and using them just like always no change of pace here.We taxpayers need to take a stand or everyone everywhere is going to fail.This is not a picture any of us needs,
Well, as we know, the FHA was still placing people into new loans that were already underwater. The mock concern for a “bailout from the taxpayers” from media outlets and regulators misses the point like so many corrupt academics and DC plutocrats always do. I’m a taxpayer, I have no interest in “bailing out” the FHA and Finanicial Institutions for bringing disaster upon themselves. Rather, as a taxpayer, I demand a “bailout” for homeowners so they can preserve their housing.