Slider

Long Strides in Short Sales

nationalmortgagenews says, according to a new government report, servicers that work on delinquent FHA (Federal Housing Administration)-insured mortgages are shoring up the agency’s losses on insurance claims because they are becoming more adept at dealing with short sales. The FHA says its servicers completed 27,150 short sales for the first three quarters of fiscal year 2012 ending June 30, a 65 percent spike from the same period last year. The loss rate on the sale of foreclosed properties or REOs (real estate owned) is 71 percent versus 47 percent on short sales. FHA completed 75,550 REO sales in the first three fiscal quarters of 2012, an increase of 11 percent over the same period last year. MHProNews has learned the year-to-date net loss rate declined by 1.5 percent from last quarter due to the increase in short sales.

(Image credit: Washington Post/istock)

15585

Subscribe to the Documented #1

Most-Read - Professional Emailed Headline News

Delivered x2 weekly to your inbox. 

Manufactured Home "Industry News,

Tips, and Views Pros Can Use."   ©

 

Where "We Provide, You Decide."  ©

15856
mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top