The performance of first-lien mortgages serviced by large national banks and thrifts improved in the first quarter as troubled loans worked through the system, according to a report released Wednesday by federal regulators. Their analysis of servicing portfolios as a whole found that loans serviced for government agencies and the GSEs are outperforming those held by banks and thrifts on their own books. Nevertheless, delinquencies improved across all risk categories and for all asset owners, while newly started foreclosures declined sharply...
A total of 25,485 suspicious activity reports (SARs) involving mortgage fraud were submitted to the Financial Crimes Enforcement Network in the first quarter, up 31 percent from a year earlier. The agency attributes the increase to more demands from investors for lenders to repurchase poorly performing mortgages, which have prompted additional loan reviews. Officials also found a number of incidents involving foreclosure rescue scams, false claims of identity theft, and property flopping... read more
Federal Reserve Chairman Ben Bernanke says its all the distress in the housing sector that’s pulling home prices and consumer confidence down and keeping buyers away from the market, despite the fact that the Fed’s bond-buying program has succeeded in keeping interest rates low and housing affordable. Bernanke says he’d like to see more efforts to modify loans, but when that’s not appropriate, the industry needs to speed up the process of foreclosure and disposition to clear the market... read more
Goldman Sachs has agreed to sell its residential mortgage servicing subsidiary to Ocwen Financial Corp. Ocwen will pay $263.7 million in cash to acquire Litton Loan Servicing. In addition to the cash purchase price, Ocwen will lay out another $337 million to take care of some of Litton’s outstanding debt.
The deal will result in Ocwen’s acquisition of a servicing portfolio of approximately $41.2 billion in unpaid principal balance of primarily non-prime residential mortgage loans...
The market has been battered by reports of continuing home price depreciation with both the Clear Capital and S&P/Case-Shiller indices confirming that national readings have fallen below the double-dip mark. But data released Wednesday by CoreLogic provided a flicker of improvement – at least from the short-term view. The company says its index shows home prices in the U.S. rose 0.7 percent between March and April. It’s the first such increase since the homebuyer tax credit expired in mid-2010, and that reading includes distressed sales...read more
| June 14, 2011 | ||
| 6:30 pm | to | 9:00 pm |
Many people find themselves NOT closing deals because they over complicate simple real estate methods. This simple fact is the exact reason why I called in a favor.
Over the last few months you must have noticed the presence of a new group in our midst...
The Innovative Investors bring a lot to the table and have been responsible for bringing new systems, ideas, and incredible content to the LIREIA family.
They are LOCAL, experienced, and successful but that doesn't matter at all...
That means nothing, if you don't know what they know. That's why I've asked them to share their wholesaling methods with you.
Darius, Hugo and Jen were hesitant to share this information because this is their "bread and butter"
and highly sensitive information they use to capitalize on the market in a way that most haven't seen yet.
Well after a lot of conversations and formalities we finally got them to let the cat out of the bag and because this is such a momentous training, we are letting them have the floor for 1 Full Hour at the next meeting.
Here's what they'll be going over:
· Wholesaling as a Useful Tool for all Real Estate Deals
· Mastering the Simple Concept, that's often Misunderstood
· Overcoming the 5 Greatest Quick Turn Setbacks
· How to Create a Virtual Printing Press
· Learn a Creative way to Flip Notes & Deeds
· Mastering the Art of Attaining Cash Buyers
· An Opportunity to Leverage Innovative Investor's capital, connections, software, system, experience and everything else in between.
Don't miss this rare opportunity to learn from investors who are doing the impossible right in our very own backyard!
Join us at our next General Meeting Tuesday June 14, 2011 at the Huntington Hilton in Melville,
Registration and networking begins at 6:30 pm in the SAVOY room
Meeting starts at 7:00 pm- ends at 9:30 pm
Non Member Admission at the door $50 per person
Discount for pre-registering online at lireia.com for only $25.00
| June 14, 2011 | ||
| 6:30 pm | to | 9:15 pm |
The Long Island Real Estate Investment Association is committed to building a strong and active membership and providing the tools, skills, and education needed to succeed in any marketplace and in any environment. Our monthly general meetings provide members and guests with an interactive experience to learn, network, analyze REAL DEALS, debrief learning opportunities and discuss changes they may be seeing out in the in the real estate investing field.
As a member of the Long Island Real Estate Investment Association (LIREIA) you will have an opportunity to become ACTIVE in the world of real estate investing, and in business.
The LIREIA focuses on maintaining a championship organization that serves it membership with a platform for quality individuals who are willing to share in their successes and learning experiences along the way to building WEALTH. We understand that in business and in life, you can’t do it by yourself.
Please check back for more information on this month's general meeting.
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