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“Suspicious” Short Sale Activity May Cost Lenders $375 Million
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
“Suspicious” Short Sale Activity May Cost Lenders $375 Million
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
“Suspicious” Short Sale Activity May Cost Lenders $375 Million

May 26, 2011 (Chris Moore)

CoreLogic has released its 2011 Short Sale Research Study, “CoreLogic Analysis on Short Sale Trends, Risks, and Opportunites” and has found that “suspicious” short sale activity may cost the lending industry $375 million in 2011 with higher losses expected in the future as the pool of distressed properties increases.

For the study, CoreLogic defines “suspicious” short sale transactions as those where a lender may have incurred unnecessary losses due to the short sale transaction quickly followed by a resale transaction for a substantially higher price where that higher price is not supported by an underlying increase in property value.

The study revealed that short sales that show another sale transaction closing on the same day on the same property account for 16 percent of all suspicious short sales in the industry and that on average the resale price was $50,000 greater than what the lender agreed upon for the original short sale price.

The study also found that although Limited Liability Company buyers comprise only two percent of all short sale buyers, they comprise more than 25 percent of buyers in suspicious short sale transactions.

CoreLogic reports that losses in 2011 for lenders, servicers and investors are estimated to be in excess of $375 million in 2011 which is more than 20 percent above the estimated losses of $310 million in 2010 and that they expect “suspicious” short sale transactions to increase in the future.

States with the largest short sale volume (California, Arizona, Colorado and Florida) incur the highest rates of suspicious short sale transactions.

“Short sale volume has tripled in the past two years, and with approximately 1.7 million seriously delinquent loans, I expect volume to grow again in 2011,” said Craig Focardi, senior research director, consumer lending at The TowerGroup. “Identifying risk and monitoring distressed asset sale trends is absolutely essential for lenders to preempt potential losses.”

The study was designed to take a rigorously scientific, data-driven look at current trends in short sales and to identify inherent risks and opportunities associated with these transactions.

More information about “suspicious” short sale transactions is available on CoreLogic’s Website.

Tags: CoreLogic, suspicious short sales, lender losses, resale transactions, investors, lenders, servicers, short sale volume

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 26, 2011 (Chris Moore)

CoreLogic has released its 2011 Short Sale Research Study, “CoreLogic Analysis on Short Sale Trends, Risks, and Opportunites” and has found that “suspicious” short sale activity may cost the lending industry $375 million in 2011 with higher losses expected in the future as the pool of distressed properties increases.

For the study, CoreLogic defines “suspicious” short sale transactions as those where a lender may have incurred unnecessary losses due to the short sale transaction quickly followed by a resale transaction for a substantially higher price where that higher price is not supported by an underlying increase in property value.

The study revealed that short sales that show another sale transaction closing on the same day on the same property account for 16 percent of all suspicious short sales in the industry and that on average the resale price was $50,000 greater than what the lender agreed upon for the original short sale price.

The study also found that although Limited Liability Company buyers comprise only two percent of all short sale buyers, they comprise more than 25 percent of buyers in suspicious short sale transactions.

CoreLogic reports that losses in 2011 for lenders, servicers and investors are estimated to be in excess of $375 million in 2011 which is more than 20 percent above the estimated losses of $310 million in 2010 and that they expect “suspicious” short sale transactions to increase in the future.

States with the largest short sale volume (California, Arizona, Colorado and Florida) incur the highest rates of suspicious short sale transactions.

“Short sale volume has tripled in the past two years, and with approximately 1.7 million seriously delinquent loans, I expect volume to grow again in 2011,” said Craig Focardi, senior research director, consumer lending at The TowerGroup. “Identifying risk and monitoring distressed asset sale trends is absolutely essential for lenders to preempt potential losses.”

The study was designed to take a rigorously scientific, data-driven look at current trends in short sales and to identify inherent risks and opportunities associated with these transactions.

More information about “suspicious” short sale transactions is available on CoreLogic’s Website.

Tags: CoreLogic, suspicious short sales, lender losses, resale transactions, investors, lenders, servicers, short sale volume

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 26, 2011 (Chris Moore)

CoreLogic has released its 2011 Short Sale Research Study, “CoreLogic Analysis on Short Sale Trends, Risks, and Opportunites” and has found that “suspicious” short sale activity may cost the lending industry $375 million in 2011 with higher losses expected in the future as the pool of distressed properties increases.

For the study, CoreLogic defines “suspicious” short sale transactions as those where a lender may have incurred unnecessary losses due to the short sale transaction quickly followed by a resale transaction for a substantially higher price where that higher price is not supported by an underlying increase in property value.

The study revealed that short sales that show another sale transaction closing on the same day on the same property account for 16 percent of all suspicious short sales in the industry and that on average the resale price was $50,000 greater than what the lender agreed upon for the original short sale price.

The study also found that although Limited Liability Company buyers comprise only two percent of all short sale buyers, they comprise more than 25 percent of buyers in suspicious short sale transactions.

CoreLogic reports that losses in 2011 for lenders, servicers and investors are estimated to be in excess of $375 million in 2011 which is more than 20 percent above the estimated losses of $310 million in 2010 and that they expect “suspicious” short sale transactions to increase in the future.

States with the largest short sale volume (California, Arizona, Colorado and Florida) incur the highest rates of suspicious short sale transactions.

“Short sale volume has tripled in the past two years, and with approximately 1.7 million seriously delinquent loans, I expect volume to grow again in 2011,” said Craig Focardi, senior research director, consumer lending at The TowerGroup. “Identifying risk and monitoring distressed asset sale trends is absolutely essential for lenders to preempt potential losses.”

The study was designed to take a rigorously scientific, data-driven look at current trends in short sales and to identify inherent risks and opportunities associated with these transactions.

More information about “suspicious” short sale transactions is available on CoreLogic’s Website.

Tags: CoreLogic, suspicious short sales, lender losses, resale transactions, investors, lenders, servicers, short sale volume

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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