The Michigan State Senate passed a bill on Friday to prevent those with delinquent property tax payments to bid in foreclosure auctions and prevent homeowners from intentionally allowing their homes to go to foreclosure and buy them back in an auction for a lower price.
Read More »Report: Housing Market Will Gain Momentum In Next Year
The housing market will continue its gradual recovery and gain momentum in 2015 after a disappointing 2014, according to the Wells Fargo Economics Group 2015 Economic Outlook entitled "A Whole New Ballgame," released earlier this week.
Read More »Foreclosure Prevention Counseling Program Has Helped 1.8 Million Homeowners
Washington, D.C.-based NeighborWorks America, one of the nation's largest community development corporations, announced that more than 1.8 million homeowners have received foreclosure prevention counseling through the association's National Foreclosure Mitigation Counseling Program (NFMC).
Read More »Analysts Predict Comeback for New Homes in 2015
After trudging along a sluggish track in 2014, the market for new homes is projected to make a comeback next year, Fitch Ratings says in a new forecast.
Read More »Lawmaker Criticizes FHFA’s Decision to Allocate GSE Money to Housing Groups
U.S. Representative Ed Royce (R-California), a senior member of the House Financial Services Committee, has issued a statement calling the Federal Housing Finance Agency (FHFA)'s announcement that the Agency will divert GSE money to the Housing Trust Fund and Capital Magnet Fund "outrageous."
Read More »Economists: Amid Year of Growth, Housing Disappointed in 2014
In a year that's seen promising—albeit unspectacular—growth, economists agree that one sector of the U.S. economy disappointed: the housing market.
Read More »Fannie Mae Announces Risk Transfer Deal to Increase Role of Private Capital in Mortgage Market
Fannie Mae has expanded its risk sharing offerings with Wednesday's announcement of the credit insurance risk transfer (CIRT) deal, which transfers the credit risk on a pool of loans from the taxpayers to a panel of domestic reinsurers.
Read More »FHA Acting Commissioner Expresses Disappointment in Congressional Spending Plan
A $1.1 trillion congressional spending bill proposed on Thursday may avoid another government shutdown, but Biniam Gebre, acting commissioner of the Federal Housing Administration (FHA), is disappointed that certain FHA programs were not included in that spending plan.
Read More »Treasury Recovers Another $22 Million in TARP Investments
The U.S. Department of Treasury announced that is recovered $22 million for taxpayers through the sale of First BanCorp common stock earlier this week, and that it planned to sell additional stock in the San Juan, Puerto Rico-based bank.
Read More »Atlantic City Leaps from 25th to First Among Metro Areas for Highest Foreclosure Rate
Keeping in line with the steadily increasing number of foreclosures in New Jersey, Atlantic City turned in the highest foreclosure rate in the nation among metropolitan areas with a population greater than 200,000 for November, according to RealtyTrac's U.S. Foreclosure Market Report for November 2014 released Thursday.
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