Home / Author Archives: Esther Cho (page 16)

Author Archives: Esther Cho

Study Examines Buyer, Seller Satisfaction with Real Estate Companies

Repeat buyers and sellers averaged a higher score when measuring customer satisfaction compared to first-time homebuyers, according to a study from J.D. Power. For the year, repeat homebuyers averaged a score of 817 out of 1,000, while the score for repeat sellers was 803. On the other hand, the score for first-time buyers and sellers was 797. The study also found first-time homebuyers have been more active this year, representing 49 percent of buyers in 2013 compared to 40 percent in 2012.

Read More »

Foreclosure Filings Hit Six-and-a-Half-Year Low in June

Foreclosure activity was sluggish in June, dipping 14 percent from May and falling 35 percent from a year ago, according to RealtyTrac's most recent foreclosure report. With 127,790 properties receiving a foreclosure filing in June, RealtyTrac also revealed foreclosure activity is down to the lowest level since December 2006. Foreclosure starts also experienced a dramatic fall, decreasing 45 percent year-over-year in June to the lowest level since December 2005. While foreclosure activity dropped, foreclosure auctions in judicial states jumped 34 percent compared to a year ago.

Read More »

MERS Wins Rhode Island Recording Fee Suit

Merscorp Holdings, Inc. announced it received another favorable ruling in a recording fee suit. The town of Johnston in Rhode Island brought suit against Merscorp, Mortgage Electronic Registration System (MERS), and other defendants, which included large banks and servicers, alleging the MERS system used for mortgages and mortgage assignments violated state law.

Read More »

Survey: Younger Buyers More Likely to Consider Foreclosed Homes

Overall, 44 percent of surveyed buyers said they did not consider a home in foreclosure, according to the NAR. When broken down by age group, however, only 31 percent of Millennials (32 and younger) said they did not consider purchasing a home in foreclosure compared to 65 percent for buyers aged 67 to 87. For buyers who considered foreclosed homes, 29 percent said they decided not to buy one because they could not find the right home.

Read More »

Former Yahoo Exec Joins Auction.com

Auction.com selected industry veteran Michael Callahan to serve as executive VP, chief legal officer, and secretary. Before his appointment with the online real estate marketplace, Callahan served as executive VP, general counsel, and secretary at Yahoo, where he worked from 1999 to 2010.

Read More »

Regulators Propose Rule to Double Leverage Ratio for Biggest Banks

In separate statements Tuesday, the Office of the Comptroller of the Currency (OCC), FDIC, and the Federal Reserve Board (FRB) proposed a rule that would require insured depository institutions of certain banks to meet a 6 percent supplementary leverage ratio to be considered ""well capitalized."" The proposal would also require covered bank holding companies to maintain a tier 1 capital leverage buffer of at least 2 percent above the minimum supplementary leverage ratio requirement of 3 percent, for a total of 5 percent, the regulators stated.

Read More »

Report: Shadow Inventory Falls 34% from 2010 Peak

Fewer than 2 million homes remain in shadow inventory as of April, CoreLogic reported Tuesday. This puts shadow inventory at a supply of 5.3 months and represents an 18 percent year-over-year decrease. The data provider also reported shadow inventory is 34 percent lower than the 2010 peak of 3 million. Currently, serious delinquencies make up the bulk of shadow inventory. Out of the total for shadow inventory, about 890,000 are serious delinquencies.

Read More »