Who is Halo Mac
Industry Statistics
Newly Initiated Home Retention Actions
Newly initiated home retention actions totaled 301,648 during the fourth quarter, an increase of more than 11 percent from the third quarter and an increase of more than 16 percent from the second quarter.
Industry News
New California law bans loan modification firms from demanding upfront fees (McClatchy Washington Bureau) 13 Oct, 2009 | 1:10 pm PDT -Critics say US government\'s home rescue plan delaying, not solving ... - Lebanon Daily Star 13 Oct, 2009 | 1:16 pm PDT -
The New Mortgage Business: Loss Mitigation And Loan Modification (Investopedia via Yahoo! Finance) 9 Sep, 2009 | 12:51 pm PDT -
Geithner\'s Mortgage Shame Game - Forbes 10 Sep, 2009 | 2:16 pm PDT -
Meltdown 101: Housing help lags high expectations - The State 10 Sep, 2009 | 4:04 pm PDT -
US Home Foreclosures Set Another Record in July - CNBC 13 Aug, 2009 | 3:08 am PDT -
Foreclosures up in Riverside County - Mydesert.com 13 Aug, 2009 | 6:14 am PDT -
Dallas-area homeowners fight for mortgage loan modifications - Denton Record-Chronicle 10 Aug, 2009 | 7:51 am PDT -
Exerpt From The OCC and OTS Metric Report
Third Quarter, 2008 - The OCC and OTS Metric ReportNewly Initiated Home Retention Actions
Newly initiated home retention actions totaled 301,648 during the fourth quarter, an increase of more than 11 percent from the third quarter and an increase of more than 16 percent from the second quarter. Loan modifications accounted for 40 percent of all newly initiated home retention actions during the fourth quarter, compared with 43 percent during the third quarter and 52 percent during the second quarter.This declining percentage of loan modifications relative to payment plans may have resulted from the fact that, prior to contractually implementing new loan modifications, borrowers are often required to successfully complete trial periods to demonstrate the ability to make payments under the new terms. These "trial" modifications became more prevalent in the fourth quarter and are reported as payment plans until the successful completion of the trial periods.
Overall Mortgage Performance
Credit quality declined for the third consecutive quarter across all risk categories. Current and performing mortgages declined to 89.95 percent from 93.33 percent at the end of the first quarter. Seriously delinquent loans, defined as mortgages 60 or more days delinquent and all mortgages owed by bankrupt borrowers that are 30 or more days delinquent, increased to 4.60 percent from 3.54 percent at the end of the third quarter. Loans 90 or more days delinquent increased by 44.5 percent, from 1.70 percent to 2.45 at the end of the fourth quarter due in part to a slowdown in newly initiated foreclosure actions. Foreclosures in process increased for the third consecutive quarter to 2.00 percent.
Contact Halo Mac
Toll Free:
1-877-HALO-MAC
1-877-425-6622
Email Us:
membership@halomac.org
support@halomac.org
Halo Mac Inquiries
Highlighted Vendor
Mind River Marketing is a leading marketing firm that specializes in Data Lists and providing Direct Marketing leads. The company also specializes in Internet Marketing through Search Engine Optimization and Pay Per Click. You can find out more, at their website.