Category: Default

Supreme Court Outlaws Chapter 7 ‘Stripping Off’ of Second Mortgages

DSNews   By: Brian Honea The U.S. Supreme Court ruled on Monday that an underwater second mortgage cannot be extinguished, or “stripped off,” as unsecured debt for a debtor in bankruptcy, according to theSupreme Court‘s website. In the cases of Bank of America v. Caulket andBank of America v. Toledo-Cardona, Florida homeowners David Caulkett and Edelmiro […]

Declining Default Rate Leaves Room to Loosen Underwriting Standards, Economist Says

DSNews:  Author: Brian Honea January 7, 2015 The pristine performance of mortgage loans in the U.S. with a vintage of 2009 or later is an indicator that underwriting standards could be loosened, according to CoreLogic senior economist Molly Boesel. In an analysis entitled “What’s an Acceptable Level of Mortgage Default?” published in CoreLogic’s December 2014 […]