Florida Foreclosures, June 2008-2012

January 10, 2013

This article was originally published in Lynn Szymoniak’s publication, ‘Fraud Digest,’ and is republished here as a resource for those interested in foreclosures and document fraud.


This increased push to foreclose, especially by trustees of residential mortgage-backed trusts, may be the single most important development in the American economy in 2012. There was a dramatic increase in the number of new foreclosures in Florida in June, 2012. In some cases, new filings reached an all time high.  Bank of New York Mellon filed more new foreclosures in Hillsborough County (the Tampa area) in June 2012 than in June of any of the preceding four years.  In almost every county and for each of the banks studied, there was an increase in new filings in June, 2012 not just when compared with June, 2011. In some cases, the new filings were the highest in five years.

The dramatic increase was not consistent in all counties and with all banks. Bank of New York Mellon and Bank of America were more heavily engaged in filing new foreclosures than Citi, Deutsche and Wells Fargo.

The number of new Lis Pendens filed in the official county records of five Florida counties by five banks are reported below.  The banks are Bank of New York Mellon, Bank of America, Citi, Deutsche and Wells Fargo.

Bank of New York Mellon is the trustee for most of the CWABS and CWALT trusts, the Countrywide Trusts. Deutsche Bank is the trustee for most of the American Home Mortgage Asset and Investment trusts, as well as many of the Soundview and Long Beach trusts.  Wells Fargo is the trustee for many of the Option One Trusts.

The failures of these three sub-prime lenders, Countrywide, American Home Mortgage and Option One, proved disastrous for the American economy. Even after five years, most bankers and their reporters refuse to admit that mass foreclosures drive down home prices and result in more foreclosures, creating a death spiral for borrowers, communities and investors. The counties chosen each have a population of at least one million people.  This increased push to foreclose especially by trustees of residential mortgage-backed trusts may be the single most important development in the American economy in 2012.

 

Bank of NY Mellon

Broward County

2012: 169

2011: 21

2010: 94

2009: 302

2008: 278

 

Hillsborough County

2012: 156

2011: 31

2010: 97

2009: 134

2008: 138

 

Miami-Dade County

2012: 264

2011: 48

2010: 108

2009: 305

2008: 377

 

Orange County

2012: 107

2011: 22

2010: 72

2009: 148

2008: 184

 

Palm Beach County

2012: 242

2011: 68

2010: 121

2009: 167

2008: 261

 

Bank of America

Broward County

2012: 160

2011:  39

2010: 290

2009: 399

2008: 187

 

Hillsborough County

2012: 215

2011:  88

2010: 219

2009: 201

2008:  92

 

Miami-Dade County

2012: 378

2011: 135

2010: 308

2009: 547

2008: 244

 

Orange County

2012: 164

2011: 53

2010: 183

2009: 221

2008:  94

 

Palm Beach County

2012: 227

2011: 112

2010: 193

2009: 260

2008: 223

 

Wells Fargo

Broward County

2012: 185

2011: 106

2010: 577

2009: 331

2008: 209

 

Hillsborough County

2012: 256

2011: 117

2010: 369

2009: 253

2008: 195

 

 

Miami-Dade County

2012: 280

2011: 198

2010: 709

2009: 536

2008: 316

 

Orange County

2012: 172

2011: 149

2010: 346

2009: 264

2008: 157

 

Palm Beach County

2012: 221

2011: 207

2010: 384

2009: 261

2008: 288

 

DEUTSCHE BANK

Broward County

2012:  82

2011:  77

2010: 155

2009: 408

2008: 386

 

Hillsborough County

2012: 256

2011:  44

2010:  82

2009: 195

2008: 178

 

Miami-Dade County

2012: 172

2011: 111

2010: 192

2009: 621

2008: 600

 

 

Orange County

2012: 31

2011: 41

2010: 149

2009: 196

2008: 206

 

Palm Beach County

2012: 58

2011: 89

2010: 83

2009: 262

2008: 394

 

Citi Bank

Broward County

2012: 66

2011: 54

2010: 148

2009: 212

2008: 176

 

Hillsborough County

2012: 74

2011: 55

2010: 75

2009: 122

2008: 166

 

Miami-Dade County

2012: 131

2011: 123

2010: 213

2009: 349

2008: 283

 

Orange County

2012: 70

2011: 57

2010: 108

2009: 160

2008: 120

 

 

 

Palm Beach County

2012: 84

2011: 96

2010: 112

2009: 178

2008: 241

 

Note: Bank of America also filed thousands of foreclosures under the name BAC Home Loans Servicing.  Those foreclosures are not included in this report.  Wachovia Bank foreclosures are not included in the Wells Fargo numbers.  No adjustment was made for duplicate reports in the official records when more than one person is listed as the owner.