Colorado metro foreclosure filings have fallen 14 months in a row (Den Post)
Foreclosure activity in Colorado's metro counties dropped to a five-year low in January, according to a report released today by the Colorado Division of Housing.
New foreclosure filings fell year-over-year during January with total filings dropping 28.2 percent from 2,699 filings in January 2011 to 1,939 filings during January of this year.
Colorado foreclosure decline continues (DBJ)
All 12 metro counties surveyed reported year-over-year decreases in foreclosure filings in January, with Douglas County and Broomfield County reporting the largest year-over-year declines at 44.5 percent and 40 percent, respectively. Larimer County reported the smallest year-over-year decline at 16.7 percent
Citi fined $158 million for gaming federal housing program
NEW YORK (CNNMoney) -- Citigroup will pay $158 million to settle charges that its mortgage unit defrauded the Federal Housing Administration by inaccurately claiming that certain mortgages were eligible for government insurance, government officials announced Wednesday.
Under the FHA's Direct Endorsement Lender program, lenders like Citi's CitiMortgage division can submit certain loans for government insurance in case a borrower defaults. Lenders are required to maintain their own quality-control programs to ensure that loans submitted for such insurance have been prepared properly and without any evidence of fraud.
Larimer among highest-ranking counties for multi-family permits
New data released by the Colorado Division of Housing shows that 470 multi-family permits were issued in Larimer County last year, outranked only by El Paso, Jefferson and Denver counties.
The top four counties accounted for 84 percent of multi-family permits statewide.
The permits are likely for rental housing, according to the Department of Housing, to help alleviate the tight rental market in most of Colorado. In Fort Collins-Loveland, the vacancy rate was 2.3 percent as of the third quarter 2011, the most recent data available.
Foreclosures dive 28%
During January, the counties with the largest decreases in foreclosure filings, year-over-year, were Douglas and Broomfield counties, where filings decreased by 44.5 percent and 40 percent, respectively. Larimer County reported the smallest decline in filings with a decrease of 16.7 percent from January 2011 to January 2012. All counties surveyed reported year-over-year decreases in foreclosure filings.