INSTITUTE INDEX: Taking on the mortgage banksters
Number of states where attorneys general are investigating the mortgage-servicing industry following allegations that questionable documents and procedures were used to support home foreclosures: 50
Number of foreclosures nationwide where flawed documents may have been used: hundreds of thousands
Number of states where JPMorgan Chase is reviewing foreclosure cases: 41
Number of states where GMAC and North Carolina-based Bank of America are reviewing foreclosures: 50
Number of foreclosure documents that a GMAC employee has testified he approved each business day in an illegal process that's been dubbed "robo-signing": about 400
Number of homes that U.S. banks seized through the first nine months of this year: more than 816,000
Number they were on pace to seize before year's end: 1.2 million
Portion of U.S. homeowners who are at least 30 days delinquent or in some stage of foreclosure: 1 in 8
Portion of U.S. housing units that received a foreclosure filing during the third quarter of this year: 1 in every 139
Portion of Florida housing units that received a foreclosure filing during that same period: 1 in 56
Percent by which foreclosure filings in Florida increased from the second to third quarter: 12
Percent by which foreclosure filings in Louisiana increased from the third quarter of 2009 to the same period this year: 32.2
Of the 10 states with the highest foreclosure rates in the third quarter of 2010, number in the South: 2*
Date on which Florida Attorney General Bill McCollum appealed a court ruling against his efforts to subpoena information from four law firms accused of faulty foreclosure practices: 10/11/2010
Percent of the state's foreclosure cases those firms process: about 80
Number of sworn affidavits McCollum's office has received detailing criminal activity by those firms: approximately 100
Percent that home prices have fallen nationally from their peak four years ago due to mortgage defaults: 30
Percent of U.S. homes sold in September that were in some state of foreclosure: 31
Date on which the Obama administration rejected Congressional Democrats' calls for a foreclosure moratorium over fears it could cripple the already-slow recovery of the housing market: 10/12/2010
* Florida and Georgia
(Click on figure to go to the source. Photo by respres via Flickr.)
Number of foreclosures nationwide where flawed documents may have been used: hundreds of thousands
Number of states where JPMorgan Chase is reviewing foreclosure cases: 41
Number of states where GMAC and North Carolina-based Bank of America are reviewing foreclosures: 50
Number of foreclosure documents that a GMAC employee has testified he approved each business day in an illegal process that's been dubbed "robo-signing": about 400
Number of homes that U.S. banks seized through the first nine months of this year: more than 816,000
Number they were on pace to seize before year's end: 1.2 million
Portion of U.S. homeowners who are at least 30 days delinquent or in some stage of foreclosure: 1 in 8
Portion of U.S. housing units that received a foreclosure filing during the third quarter of this year: 1 in every 139
Portion of Florida housing units that received a foreclosure filing during that same period: 1 in 56
Percent by which foreclosure filings in Florida increased from the second to third quarter: 12
Percent by which foreclosure filings in Louisiana increased from the third quarter of 2009 to the same period this year: 32.2
Of the 10 states with the highest foreclosure rates in the third quarter of 2010, number in the South: 2*
Date on which Florida Attorney General Bill McCollum appealed a court ruling against his efforts to subpoena information from four law firms accused of faulty foreclosure practices: 10/11/2010
Percent of the state's foreclosure cases those firms process: about 80
Number of sworn affidavits McCollum's office has received detailing criminal activity by those firms: approximately 100
Percent that home prices have fallen nationally from their peak four years ago due to mortgage defaults: 30
Percent of U.S. homes sold in September that were in some state of foreclosure: 31
Date on which the Obama administration rejected Congressional Democrats' calls for a foreclosure moratorium over fears it could cripple the already-slow recovery of the housing market: 10/12/2010
* Florida and Georgia
(Click on figure to go to the source. Photo by respres via Flickr.)
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Sue Sturgis
Sue is the editorial director of Facing South and the Institute for Southern Studies.