The market capacity for existing-home sales increased by 0.3 percent month-over-month and 12.5 percent year-over-year in May, while rising interest rates and a slight jump in unemployment countered equity-enhancing home price appreciation, according to First American.
Read More »Strong Housing Market In Urban Areas Drives More Positive Outlook on Local Economies
"Given the strength of the housing market in most urban and suburban areas, and the connection many make to home prices and a strong economy, it's not too surprising that people living in those areas have a more positive economic outlook as reported by our survey," said Doug Robinson of NeighborWorks.
Read More »Non-Foreclosure Solutions Continue to Outpace Completions Five to One
Non-foreclosure solutions continued to outpace completed foreclosures by a rate of approximately five to one in April while serious delinquencies continued their steady decline, according to data released on Wednesday by HOPE NOW, an industry-created private sector alliance of mortgage ...
Read More »Senator Proposes Legislation to Help Underwater Borrowers Avoid Foreclosure
Menendez's bill seeks to help both homeowners and lenders. In exchange for reducing the amount of principal owed, banks would be entitled to a portion of any future increase in value the home might experience. This gives the underwater homeowners relief on their mortgages while banks take a short-term reduction in exchange for a long-term gain pending the housing market recovery.
Read More »HUD Awards New Mortgagee Compliance Manager Contract for $42 Million
Bethsesda, Maryland-based IT and logistical support provider Information Systems & Network (ISN) Corporation has been awarded the contract to serve as Mortgagee Compliance Manager (MCM) for the U.S. Department of Housing and Urban Development (HUD).
Read More »FHFA: Uncertainty Remains as to GSEs’ Financial Sustainability
Fannie Mae reported positive net worth of $3.7 billion as of the end of 2014, slightly more than half of which ($1.9 billion) represented a dividend obligation to the Department of Treasury that was paid on March 31, 2015. Fannie Mae's net income for 2014 of $14.2 billion was only a fraction of the $84 billion the GSE reported for 2013, according to FHFA.
Read More »McCalla Raymer Announces Additions to Firm
Full-service residential and commercial real estate legal services firm McCalla Raymer, LLC has announced the opening of a new office in Oxford, Mississippi, as well as the addition of senior counsel Jim DeLoach and associate David Flautt to the firm.
Read More »Additional HUD Grants Awarded to Counseling Agencies Brings Total to $42 Million
Nearly $6 million of the total $42 million will directly support the housing counseling services provided by 33 national and regional organizations, six multi-state organizations, 20 State Housing Finance Agencies (SHFAs), and 248 local housing counseling agencies.
Read More »Nationwide Title Clearing Now Offers Collateral File Audit and Remediation Service
The collateral file audit and remediation service is customizable and can be tailored to specific portfolios, investors, and objectives, according to NTC.
Read More »Freddie Mac Lays Out Importance of a Consumer’s Credit Score in Homebuying
Those with lower credit scores who do get accepted for mortgage loans (and other types of loans) will almost certainly pay higher interest rates than those with higher credit scores; therefore, those with higher credit scores pay less over the life of the loan due to paying less interest.
Read More »