Life After Loss Mitigation: Foreclosure And REO Operations - Strategies For Mortgage Servicers
- Topics:
- Loss Mitigation
- Tags:
- Borrower,
- Mortgages,
- Loss Mitigation,
- Investment,
- Financial Services,
- Financial Accounting,
- Finance,
- Equity,
- Deloitte LLP,
- Capital Structures,
- ...
- Source:
- Deloitte Development
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Overview: The U.S. mortgage industry has experienced a tremendous amount of turbulence in recent years, and because of the depth of the current financial crisis, the situation is only expected to get worse. The rapid devaluation of home values across the United States has exposed mortgage lenders and servicers to previously unseen levels of negative equity, as they have been greatly impacted by the increasing number of borrowers who owe more on their mortgages than the homes are currently worth. Approximately 6.2 million borrowers, or 15% of homeowners, have negative equity and this number is expected to grow to between 11- 13 million borrowers, or 28-32%, at the bottom of the housing cycle.
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Format: PDF | Size: 401KB | Date: Mar 2009 | Pages: 8
