Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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06/26/26

HUD modifies FHA Mortgage Loan Policies to reduce regulatory burdens and promote affordability
In a series of five Mortgagee Letters, the U.S. Department of Housing and Urban Development (HUD) recently modified policies for Federal Housing Administration (FHA) insured residential mortgage loans to reduce regulatory burdens and promote affordability. A HUD summary of the modifications indicates that the modifications are in accordance with Executive Order 14393, Promoting Access to Mortgage Credit. (To view the summary, click on “June” under 2026 and scroll to June 23, 2026.) The modifications will be incorporated into HUD Handbook 4000.1 The Mortgagee Letters are: Mortgagee Letter 2026-06 entitled Increase in the Maximum Number of Draw Requests for Limited 203(k) Rehabilitation Mortgage Insurance Program. Mortgagee Letter 2026-07 entitled Rescission of the Important Notice to Homebuyers Form HUD-92900-B Requirement. Mortgagee Letter 2026-08 entitled Updates to Loss Mitigation Requirements. Mortgagee Letter 2026-09 entitled Eliminating Requirements for FHA Mortgagee Approval and Quality Control. Mortgagee Letter 2026-10 entitled Updates to FHA Quality Control Requirements for Appraisal Field Reviews. The provisions of Mortgagee Letter 2026-08 may be implemented immediately and must be implemented no later than September 21, 2026. The provisions of the other Mortgagee Letters are effective immediately.

06/23/26

State: Mortgage fraud victims to get over $3 million
(The Center Square) – Roughly 900 Californians will get a portion of $3 million secured by a state agency after they fell victim to multi-year mortgage fraud, according to the California Department of Financial Protection and Innovation. A total of 1,800 people will get a portion of that money from California and other states, the agency said in a press release. The announcement follows a 2024 federal court order that found a mortgage lender made false promises to reduce a homeowner’s monthly mortgage payments and help prevent foreclosure during the COVID-19 pandemic.

06/11/26

Foreclosure Filings Dip Month-Over-Month While Annual Trend Continues Upward
Foreclosure Starts Increase 13 Percent Year Over Year; Completed Foreclosures (REOs) Rises 6 Percent Annually IRVINE, Calif. — June 11, 2026 —ATTOM, the leading provider of property data, AI-powered intelligence, and real estate analytics solutions, today released its May 2026 U.S. Foreclosure Market Report, which shows there were a total of 40,355 U.S. properties with foreclosure filings— default notices, scheduled auctions or bank repossessions — down 5 percent from a month ago and up 14 percent from a year ago. “While foreclosure activity eased from April levels, the broader trend remains one of gradual year-over-year growth,” said Rob Barber, CEO at ATTOM. “Foreclosure starts and completed foreclosures both increased compared to last year, reflecting ongoing pressure on some homeowners as elevated mortgage rates, rising ownership costs, and affordability constraints persist. At the same time, foreclosure volumes remain well below historical norms, indicating that the housing market continues to show resilience despite these challenges.” Florida, South Carolina, and Maryland post worst foreclosure rates in May One in every 3,562 housing units nationwide had a foreclosure filing in May 2026. Florida recorded the worst foreclosure rate in the country, with one in every 2,110 housing units with a foreclosure filing. South Carolina ranked second (one in every 2,287 housing units), followed by Maryland (one in every 2,369 housing units), Nevada (one in every 2,386 housing units), and Indiana (one in every 2,516 housing units). Among metro areas with populations of 2 million or more, Cleveland, OH recorded the worst foreclosure rate in May 2026, with one filing for every 1,524 housing units. Following Cleveland were Baltimore, MD (one in every 1,804); Tampa, FL (one in every 1,878); Riverside, CA (one in every 1,980 housing units); and Orlando, FL (one in every 2,034). Texas, Florida, and California top nation in foreclosure starts

06/12/26

California attorney general announces $4.6M settlement with mortgage servicer
On June 5, the California attorney general (AG) announced a $4.6 million settlement resolving allegations that a mortgage servicer violated California and federal mortgage servicing and debt collection laws during the COVID-19 pandemic. The AG’s complaint alleged that the servicer violated the state’s Unfair Competition Law by making misleading statements to California borrowers about the loss mitigation process and COVID-related forbearance plans, including options available after forbearance. The complaint also alleged that the servicer violated the Homeowner Bill of Rights (HBOR) and other state and federal laws governing mortgage servicing and debt collection while servicing California mortgage loans.

06/11/26

Why Mortgage Servicing Became The Most Valuable Asset In Lending
Trigger lead reform, servicing consolidation, and changing capital rules are reshaping the economics of mortgage customer retention In late 2025, Rocket formally acquired Mr. Cooper and began servicing one in every six mortgages in America. $2.1 trillion in unpaid balances. Roughly 10 million homeowners. It was the largest customer-retention play in the history of the business, and the rules were about to change to make that book nearly impossible to compete with. The Servicing Gold Rush

06/04/26

UNEMPLOYMENT AND FORECLOSURE RATES DRIVE HOUSING MARKET RISK
IRVINE, Calif., June 4, 2026 /PRNewswire/ -- ATTOM, the leading provider of property data, AI-powered intelligence, and real estate analytics solutions, today released its latest Housing Risk Report spotlighting county-level housing markets around the United States that were more or less vulnerable to declines, based on home affordability, equity and other measures in the first quarter of 2026. Of the 50 riskiest counties, 12 were in Florida, nine in California, and five each in Illinois and New Jersey, according to ATTOM's analysis. The overall riskiest markets in ATTOM's analysis were Charlotte County, FL; Butte County, CA; Charles County, MD; Shasta County, CA; and Cumberland County, NJ. While affordability remains a nationwide challenge, these riskiest markets were characterized by particularly high rates of unemployment and some of the worst foreclosure rates compared to the other counties included in the analysis.

06/03/26

Lost note sinks foreclosure after Connecticut court faults servicer affidavits
Connecticut's top court just killed a foreclosure because the lender couldn't prove it owned the debt – even with the borrower in default since 2010. In a decision officially released June 2, 2026, the Connecticut Supreme Court reversed a strict foreclosure judgment against a Ridgefield homeowner, ruling that the foreclosing party never established, with the clarity summary judgment requires, that it owned the debt behind the mortgage. The case was sent back to the lower courts for further proceedings.

06/02/26

Lost note sinks foreclosure after Connecticut court faults servicer affidavits
Connecticut's top court just killed a foreclosure because the lender couldn't prove it owned the debt – even with the borrower in default since 2010. In a decision officially released June 2, 2026, the Connecticut Supreme Court reversed a strict foreclosure judgment against a Ridgefield homeowner, ruling that the foreclosing party never established, with the clarity summary judgment requires, that it owned the debt behind the mortgage. The case was sent back to the lower courts for further proceedings.

06/02/26

Mailing an EMAP notice clears a Connecticut foreclosure, court tells mortgage servicers
Mailing an Emergency Mortgage Assistance Program notice is enough to foreclose in Connecticut, even when the envelope comes back unclaimed. In a decision officially released June 2, 2026, the Connecticut Appellate Court affirmed a strict foreclosure judgment for Wells Fargo Bank, acting as trustee for an Option One mortgage loan trust. The takeaway for anyone running a foreclosure pipeline in the state is direct: the EMAP notice requirement is met by sending the notice, not by proving the borrower received it.

06/02/26

VA Finalizes Partial Claim Program To Help Veterans Avoid Foreclosure
New loss mitigation option allows struggling borrowers to bring mortgages current without increasing monthly payments Veteran homeowners facing financial hardship will soon have access to a new foreclosure-prevention tool designed to help them stay in their homes without increasing their monthly mortgage payments.

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