One of the pet reasons for explaining the lack of demand for houses among millennials is the presence of ever-escalating student loan debts. The thinking goes that college graduates are so mired in debt that they either cannot afford to buy or are too afraid to run up more debt, and so they stay living with their parents or find cheap places to rent.
Read More »JPMorgan Begins to Offer Homeowner Relief
In accordance with the terms of its settlement with the federal government, JPMorgan has begun the process of providing debt forgiveness and other mortgage relief to struggling homeowners.
Read More »Existing Home Sales Reach Highest Peak in 8 Months
Existing-home sales in June touched their highest level so far this year as the supply of available homes for sale continued to improve. The National Association of Realtors (NAR) reported a 2.6 percent month-over-month rise in existing-home sales last month to a seasonally adjusted annual rate of 5.04 million. May sales were revised slightly upward to a rate of 4.91 million.
Read More »SunTrust Overcomes Settlement to Post Healthy Earnings Report
SunTrust Banks, Inc. indicated healthy earnings moving in a positive direction Monday, reporting a net income of $387 million for Q2 2014. Earnings year to date are up 18 percent over this point last year.
Read More »Freddie Mac Sees Bittersweet Economic Outlook
According to the July 2014 U.S. Economic Housing Outlook released Monday by Freddie Mac; the economic results were mixed in the first half of the year as the housing industry slowed.
Read More »Regulators Take Possession of Georgia Bank
State and federal regulators announced Friday the closing of a Georgia bank, putting the 2014 national bank failure tally at 13. Georgia's Department of Banking and Finance took possession of Conyers-based Eastside Commercial Bank, appointing FDIC as receiver.
Read More »Republicans Release Report Assessing Dodd-Frank
Congressional Republicans, on the four-year anniversary of the Dodd-Frank Act, fired out at the controversial legislation, saying that the act’s purported purpose to end the government’s “too big to fail” policy has itself failed.
Read More »RMBS Liquidations Increase for the First Time in Almost Two Years
Annualized liquidations of United States RMBS loans increased last quarter for the first time in seven quarters, according to a report issued Monday by Fitch Ratings. The conditional default rate increased in Q2 2014 to 4.92 percent after nearly two years of declines from 9.76 percent in Q2 2012. The previous decline was spurred on by shrinking inventories of distressed properties and a decrease in the use of short sales.
Read More »Avenue 365 Adds St. Clair to Leadership Team
Pennsylvania-based Avenue 365 Lender Services announced a new appointment to its national sales team, naming mortgage veteran Linda St. Clair to the position of national account manager.
Read More »Republicans to Release Report on the Anniversary of Dodd-Frank
Republicans in the House of Representatives are set to mark the four year anniversary of the controversial Dodd-Frank financial reform act with a 100 page report highlighting its perceived failures. Chief among those failures is the fact that the law did not accomplish its purported goal of ending the prospect that banks are “too big to fail.
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