Single-family home sales in Massachusetts jumped nearly 14 percent in October from a year ago, the second consecutive month that sales increased, according to a report released today by The Warren Group, a real estate research firm based in Boston.
Read More »Fed Pumps $800B More Into Economy, Plans to Purchase GSE Debt and MBS
The Federal Reserve today announced two new financial programs that are designed to thaw the nation’s lending freeze and make it easier for consumers to obtain loans for homes, as well as cars, credit cards, and other consumer debt.
Read More »Former President of National Home Auction Joins Zetabid Executive Team
Zetabid, a California-based auction firm, yesterday announced that Christopher Connelly, a financial services executive with more than 20 years of experience, has been appointed senior managing director of Zetabid.
Read More »USAffordable Home Unveils Solution for Home Preservation Without Modification
Jacksonville, Florida’s USAffordable Home LLC recently introduced what it is calling a breakthrough product designed to preserve homeownership for those struggling to make their mortgage payments.
Read More »MBA: Government Gains Share of Mortgage Apps
The government-insured share of mortgage applications continues to grow relative to conventional mortgage applications, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey released today.
Read More »Economic Uncertainty Leads to Fall in Home Sales, NAR Says
Existing-home sales declined on the heels of a strong gain in September as uncertainty and economic concerns increased in October, according to the National Association of Realtors (NAR). The latest market report released yesterday by NAR shows existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 3.
Read More »ServiceLink Helps Lenders, Servicers Simplify Loan Modification
Loan modifications have taken center stage lately, as federal regulators and lawmakers continue to push for a homeowner bailout plan to accompany the Wall Street rescue package, and major lenders themselves are stepping up to the plate to try and improve home retention for troubled borrowers.
Read More »Federal Government Provides Backstop for Citi’s Troubled Mortgages
The federal government agreed Sunday night to step in and rescue Citigroup Inc. As part of the last-minute deal, the U.S. government agreed to backstop up to $306 billion of Citi’s toxic assets, including underwater mortgages, and inject a fresh $20 billion into the struggling bank.
Read More »Obama Names Economic Team
As President-elect Barack Obama unveiled his economic team at a news conference in Chicago, Illinois on Monday, he said there was not a minute to waste in rebuilding the U.S. economy. Obama announced that he is nominating New York Federal Reserve President Tim Geithner to be the new treasury secretary, replacing Henry Paulson.
Read More »NJ Homeownership Society Employs National Loan Auditors for Workout Assessments
New Jersey’s Society for the Preservation of Continued Homeownership (SPOCH), a non-profit group which facilitates favorable mortgage loan workouts, has selected Walnut Creek, California-based National Loan Auditors (NLA) to administer forensic loan audits.
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