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Finance Agency Plan to Further Forestall Home Foreclosures Fails to Recognize Economic Realities


Finance Agency Plan to Further Forestall Home Foreclosures Fails to Recognize Economic Realities
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COLUMBUS, Ohio, April 7, 2021 /PRNewswire/  Distressed asset auctioneer Richard Kruse of Gryphon USA said plans by the Consumer Finance Protection Bureau to delay foreclosures another nine months and create more regulations only builds pressure on consumers and the nation s housing market.
The CFPB this week announced proposed rules meant to encourage lenders and loan servicers to continue working with consumers to avoid foreclosure, pushing potential filings out to January 2022.
I understand the intent, said Kruse.  But the CFPB is effectively demanding an immediate and unrealistic overhaul of lending, investment, servicing and mortgage insurance industries, not understanding that the end result will be worse with these rules than allowing the legal system work. ....

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Gryphon USA: Biden's delay on foreclosures ignores harm to marketplace as COVID-19 crisis wanes


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COLUMBUS, Ohio, Feb. 17, 2021 /PRNewswire/  Gryphon USA president Richard Kruse said the Biden administration s move this week to extend the 12-month moratorium on home mortgage foreclosures through June 30 undermines the vitality of the nation s housing market as health and economic conditions that prompted the federal policy begin to subside.
The unprecedented federal interference into the private housing market due to the COVID-19 pandemic certainly stabilized the shelter of Americans in a healthcare emergency which is positive, Kruse said. However, extension of the foreclosure ban beyond the March 31 expiration fails to recognize the success of social distancing and vaccination programs against the initial emergency policy. ....

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Gryphon USA Expands Auction Group to Better Service Bank REO Marketplace


Gryphon USA Expands Auction Group to Better Service Bank REO Marketplace
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COLUMBUS, Ohio, Feb. 2, 2021 /PRNewswire/  Ohio based Gryphon USA has set its sights on a larger, nationwide footprint for the sale of bank owned real estate. 
The newly minted Gryphon Auction Group has attracted two veteran asset managers to assist with procuring assignments from banks, servicers, hedge funds and note-holders seeking to quickly and systematically sell foreclosed homes and remove them from their balance sheet. 
We re expanding to a nationwide model through Gryphon Auction Group, said Gryphon USA principal Rich Kruse.  This expansion was put on hold when the foreclosure moratorium was initiated 10 months ago, he added. With the expectation that foreclosures will re-start later this year, we are making the move now.    ....

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