The number of homeowners facing foreclosure last month didn't grow. In fact, foreclosure activity in the United States actually dipped about half a percentage point, according to a new RealtyTrac report released Thursday. The relatively static month-to-month stats could indicate that servicers' loss mitigation efforts are beginning to have an impact, but the numbers are still a far cry from out of the woods.
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Embattled commercial mortgage servicer Capmark Financial Group Inc., the company formerly known as GMAC Commercial Holding Corp., moved closer to the brink of bankruptcy last week with the downgrading of its stock rating, even as a group of investors that included Warren Buffett announced it would buy the firm. A mere two and half months ago, Capmark was ranked among the nation's top three commercial servicers.
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Analysts at Fitch Group offered up a mixed bag of economic indicators this week, saying that a once-risky class of residential mortgage assets was stabilizing, but rising commercial real estate defaults were threatening the economy's modest recovery. The firm says small and large banks alike are overexposed in the commercial arena, and indicators point to continued deterioration well beyond current expectations.
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Litton Loan Services is still having customer problems even after settling a class action lawsuit in April alleging it charged bogus late fees. ConsumerAffairs.com says complaints are also stacking up about the Goldman Sachs subsidiary giving borrowers the run-around on loan adjustments.
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Rob Alley, Realtor
Keller Williams Realty
540-250-3275
roballeyrealtor@gmail.comhttp://www.charlottesvillevarealestate.blogspot.com http://www.robsellscharlottesville.comOh, by the way, I am never too busy to work any of your referrals.
Each Office Independently Owned and Operated
Licensed to Sell Real Estate in the Commonwealth of Virginia
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