(Read More: Map: Tracking the US Real Estate Recovery)

The settlement’s monitor, former North Carolina Banking Commissioner Joseph A. Smith noted, “a significant increase,” in consumer complaints in the second half of 2012.

In a February 2013 report he reported 5,700 consumer complaints submitted to his office, about half of which related to problems with loan modifications or customer service.

The banks have extended close to $46 billion in gross relief to more than 550,000 borrowers under the settlement so far, according to the Office of Mortgage Settlement Oversight. Thousands of borrowers have had their mortgage principal slashed under the settlement, which should reduce future delinquencies. Negative equity is a primary driver of new delinquencies, a fact all too clear in a new report Monday from Lender Processing Services.

“Looking at the March data, we see that borrowers with equity are actually outperforming the national average—at 0.6 percent, this group is quite close to pre-crisis norms,” said Herb Blecher of LPS Applied Analytics, which released the delinquency report Monday.

(Read More: Housing Recovery Shows Up In Job Gains)

“The further underwater a borrower gets, the higher those problem rates rise. Borrowers with loan-to-value (LTV) ratios of just 100-110 percent are actually defaulting at more than twice the national average. For those 50 percent or more underwater, we see new problem rates of 4 percent.”

Article source: http://www.cnbc.com/id/100710946

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PALO ALTO, Calif. and SAN MATEO, Calif., Aug. 8, 2011 /PRNewswire/ — Opes Advisors, a premier wealth management and residential mortgage banking firm, is pleased to announce that Mortgage Advisor Ed Diaz has joined Opes Advisors San Mateo. Ed has been providing individuals and families with exceptional mortgage services for more than 20 years. His background includes expertise in financial services, credit consulting and mortgage banking. Ed currently serves as president of the National Association of Hispanic Real Estate Associates (NHORA) of San Francisco and is a founding member of both the Bay Area Networking Group and BNI of Mill Valley.

Ed commented, “My focus has always been on providing mortgage guidance and advice that promotes sustainable home ownership and long-term financial security, and I’m thrilled to offer these services to my clients through Opes Advisors.” San Mateo Branch Manager Julie Thall noted, “Ed’s focus on understanding his client’s financial objectives within the context of their mortgage has enabled him to add real value to the mortgage process. Additionally, he has a strong network of relationships throughout the Bay Area, and his leadership in the real estate and business communities make him a wonderful addition to the San Mateo team.”

Ed Diaz Contact Information

Ed Diaz is a licensed mortgage advisor (CA DRE 01313063 and NMLS 249808). He can be reached in the Opes San Mateo office at 650-319-0616 or ediaz@opesadvisors.com.

Opes Advisors San Mateo

Opes Advisors San Mateo branch office is located at 411 Borel Avenue, Suite 320, San Mateo, CA 94402. Office hours are 8:00 a.m. to 5:00 p.m. Phone 650-931-0600. Appointments and walk-ins are welcome.

About Opes Advisors

Opes Advisors is a premier financial advisory services firm that enables clients to make effective financial decisions for today and for their retirement. Through direct offers of wealth management, residential mortgages and real estate investment advisory services, Opes Advisors considers each client’s complete personal balance sheet to improve the outcomes of the financial choices of life. Opes Advisors has offices in San Mateo, Los Gatos, Palo Alto, Larkspur, San Francisco, Sonoma and Santa Cruz, and Eugene, Oregon. Opes Advisors is licensed by the CA Dept. of Real Estate #01458652 and NMLS identifier 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). www.opesadvisors.com.

SOURCE Opes Advisors

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Article source: http://www.prnewswire.com/news-releases/mortgage-advisor-ed-diaz-joins-opes-advisors-san-mateo-office-127267428.html