According to the NAR, price gains were recorded in 85 percent of metro areas in the first quarter. In addition, 34 metro areas experienced double-digit increases in the second quarter, a decline from the 51 metro areas in the first quarter.
Read More »Existing-Home Sales Forecast Revised Downward Despite Recent Surge
Originally, Auction.com predicted the total number of existing-home sales to fall between 5.49 and 5.84 million annual sales with a targeted number of 5.67 million.
Read More »Economic and Job Growth Pushing Housing Slowly Toward ‘Normal’ Levels
Although this increase may seem marginal, this one point rise up places the market closer to the one point goal, indicating that it has returned to normal. In addition, 66 percent of markets have shown improvement year-over-year.
Read More »Green Tree Servicing to Merge With Ditech Mortgage
In February, Walter Investment announced the merger for the first time in its full year and fourth quarter 2014 operational highlights and financial results.
Read More »Electronic Closing Platforms Provide Greater Benefits to Borrowers than Paper
According to the CFPB, eClosings were chosen as a solution to address some of these pain points. Electronic mortgage closings rely on technology for borrowers to view and sign closing documents.
Read More »Increased Inventory and Demand Indicate a Healthier Housing Market
On the other hand, the median number of days on the market, or the inventory, increased to 69 days, down 7 percent year-over-year, but up 5 percent month-over-month.
Read More »Mortgage Debt is the Largest Liability for Most U.S. Households
Low-income households were found to be implicated the most by debt. Their debt equaled to just one-fifth of their income in 2007, but that proportion increased to half by 2013.
Read More »Ocwen’s Net Income Takes a $57 Million Hit in Q2
Faris also noted that the company sold off a large portion of non-performing servicing, reduced their corporate debt, and revealed a new cost improvement initiative.
Read More »Servicers’ Attention to Small Pool of At-Risk Borrowers Negatively Impacts Satisfaction
At-risk customers, those that J.D. Power defines currently behind in their mortgage payments or concerned about keeping current during the next year, represent only 15 percent of the survey respondent pool. This small group has been the center of regulatory and other government agencies such as the Consumer Financial Protection Bureau (CFPB), Fannie Mae, and Freddie Mac.
Read More »Fed Determines More Labor Market Growth Is Needed In Order to Raise Rates
The Committee also determined that labor market indicators found that underutilization of labor resources have diminished slightly, and growth in household spending has been moderate, while the housing sector showed some improvement. However, business fixed investment and net export remained soft.
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