Daily News related to the Foreclosure Crisis

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12/17/25

Banks Face Scrutiny As “Zombie” Second Mortgages Trigger New Foreclosures
Sen. Elizabeth Warren is seeking records to determine whether major banks violated the National Mortgage Settlement by selling supposedly extinguished second mortgages that later resurfaced as “zombie” debts leading to foreclosures Sen. Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, has formally requested detailed records concerning whether major banks may have sold mortgages that were supposed to be extinguished under federal settlement agreements to third-party debt collectors. Sen. Warren’s letter to Joseph A. Smith Jr., independent monitor, Office of Mortgage Settlement Oversight, focuses on “zombie” second mortgages that, despite documentation indicating cancellation, have resurfaced in the hands of debt buyers and are now being used to pursue foreclosures against unsuspecting homeowners. The inquiry targets compliance with the 2012 National Mortgage Settlement, a $25 billion accord between the federal government, state attorneys general, and the largest mortgage servicers — including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial. Under that settlement, servicers extinguished more than $15 billion in second mortgages and were credited for doing so toward their obligations. Homeowners were meant to benefit from the removal of these secondary liens, allowing them to move forward without lingering obligations.

12/09/25

Foreclosure Activity Climbs Annually for Ninth Straight Month as 2025 Trend Continues
IRVINE, Calif. — December 9, 2025 —ATTOM, a leading curator of land, property data, and real estate analytics, today released its November 2025 U.S. Foreclosure Market Report, which shows there were a total of 35,651 U.S. properties with foreclosure filings— default notices, scheduled auctions or bank repossessions — down 3 percent from a month ago and up 21 percent from a year ago. “November marks the ninth straight month of year-over-year increases in foreclosure activity, underscoring a trend that has steadily taken shape throughout 2025,” said Rob Barber, CEO at ATTOM. “Foreclosure starts were up 17 percent from last year and completed foreclosures rose 26 percent. While these numbers show continued upward movement, overall volumes remain well below historical highs. The data suggests the market is still normalizing as some homeowners contend with higher housing costs and shifting economic pressures.” Delaware, South Carolina, and Nevada posted the nation’s worst foreclosure rates

12/06/25

U.S. Supreme Court takes up Michigan foreclosure case
(The Center Square) – A Michigan family’s decades-long fight over a property seizure will soon be before the U.S. Supreme Court, marking the latest high-stakes challenge to how counties nationally handle property tax foreclosures. This week, the Pung family filed their opening brief in Pung v. Isabella County. Represented by attorney Phil Ellison and the Pacific Legal Foundation, the case asks the nation’s highest court to decide whether local governments must compensate homeowners based on fair market value. The plaintiffs also argue that the government should not be allowed to seize properties worth far more than needed to satisfy a tax debt

12/09/25

Foreclosure Activity Climbs Annually for Ninth Straight Month as 2025 Trend Continues
IRVINE, Calif. — December 9, 2025 —ATTOM, a leading curator of land, property data, and real estate analytics, today released its November 2025 U.S. Foreclosure Market Report, which shows there were a total of 35,651 U.S. properties with foreclosure filings— default notices, scheduled auctions or bank repossessions — down 3 percent from a month ago and up 21 percent from a year ago. “November marks the ninth straight month of year-over-year increases in foreclosure activity, underscoring a trend that has steadily taken shape throughout 2025,” said Rob Barber, CEO at ATTOM. “Foreclosure starts were up 17 percent from last year and completed foreclosures rose 26 percent. While these numbers show continued upward movement, overall volumes remain well below historical highs. The data suggests the market is still normalizing as some homeowners contend with higher housing costs and shifting economic pressures.” Delaware, South Carolina, and Nevada posted the nation’s worst foreclosure rates

12/06/25

U.S. Supreme Court takes up Michigan foreclosure case
(The Center Square) – A Michigan family’s decades-long fight over a property seizure will soon be before the U.S. Supreme Court, marking the latest high-stakes challenge to how counties nationally handle property tax foreclosures. This week, the Pung family filed their opening brief in Pung v. Isabella County. Represented by attorney Phil Ellison and the Pacific Legal Foundation, the case asks the nation’s highest court to decide whether local governments must compensate homeowners based on fair market value. The plaintiffs also argue that the government should not be allowed to seize properties worth far more than needed to satisfy a tax debt

12/05/25

Daily Decision Recap: Rental Car Damage, Mortgage Servicer Transaction Fees, and More
Each week, ACA International’s compliance team covers relevant case summaries for ACA members. Here’s a rundown of recent top FCRA, TCPA, and FDCPA cases we’ve covered.

12/04/25

State Senator Vows to Tackle Foreclosure ‘Injustice’ After NY Focus-Gothamist Investigation
New York State Senator Zellnor Myrie has introduced new legislation to impose consistent standards on foreclosure auction sales following a New York Focus and Gothamist investigation into widespread irregularities that can cost former homeowners thousands of dollars while boosting lenders’ profits.

12/04/25

Mortgage Servicing Apps Deliver Uneven User Experience, J.D. Power Finds
TROY, Mich.--(BUSINESS WIRE)--Mobile apps have transformed the digital customer experience in countless industries with their streamlined, easy-to-navigate interfaces and convenient access. The mortgage servicing industry has been one of the few exceptions to that rule, until recently relying on their websites and offline communications as the primary means of engaging with customers. According to the inaugural J.D. Power U.S. Mortgage Servicer Digital Experience Study,SM released today, that slower industry-wide adoption of mobile apps is resulting in a decidedly uneven digital user experience across different mortgage servicers. While some mortgage servicing apps are delivering on industry best practices, others are lagging significantly behind those of other lenders and apps from other industries.

12/03/25

Big banks accused of ‘systematic fraud’ in New York foreclosure auctions
For years, Barbara Small fought to hold onto her house in Flatbush, Brooklyn, after it fell into foreclosure. On the day it finally went up for auction, she sobbed on the train ride to the Supreme Court building in Downtown Brooklyn. The outcome would mean forfeiting her nest egg. She wasn’t required to attend the sale but she was determined to show up anyway. She had purchased the narrow, three-story brick home on Linden Boulevard in 2005 with her father, a former transit worker who’d emigrated from Barbados via London in the 1970s. The house was a place for him to live out his retirement as well as an investment for Small and her children once she retired from the U.S. Postal Service. Fourteen years later, her father was dead and she had lost the property after a series of financial setbacks, including a tenant who stopped paying rent. In her case, the mortgage was owned by a group of investors in a trust that was managed by the Bank of New York Mellon. The loan servicer was a company named Shellpoint.

12/01/25

Big banks accused of ‘systematic fraud’ in New York foreclosure auctions
On November 25, the New York Court of Appeals issued a pair of decisions — Art. 13 LLC and Van Dyke — that provide definitive guidance on the hotly contested and heavily litigated issue of the Foreclosure Abuse Prevention Act’s (FAPA) reach. In both cases, New York’s high court confirmed that FAPA applies retroactively to foreclosure actions where a final judgment of foreclosure and sale has not been enforced, and rejected all constitutional challenges to the statute.

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