Housing markets in half of all states and 35 of the top 50 metros are improving, according to a new report from Freddie Mac. However, only 11 states and four of the top 50 metros are "stable" compared to each market’s individual historical norms, Freddie Mac reported.
Read More »Distressed Sales and Investor Purchases Fall in February
U.S. residential sale volume decreased in February, with distressed sales and investor purchases also pulling back for the month. RealtyTrac's February 2014 Residential & Foreclosure Sales Report found that U.S. residential properties slid .2 percent from January, but remain up 7 percent from the same time period a year ago.
Read More »Bank of America Settles with FHFA for $9.3B
Bank of America has agreed to a multibillion settlement with the Federal Housing Finance Agency (FHFA) to resolve allegations of securities fraud. According to announcements made by all parties involved, under the agreement, BofA will make an aggregate payment of approximately $9.33 billion, $3.2 billion of which will go toward the repurchase of certain RMBS at fair market value.
Read More »Nonprime Market Sees New Entrant
In an effort to give greater attention to what the company says is an “underserved” market, Carrington Mortgage Services announced Monday its intent to put a tighter focus on borrowers with credit scores in the sub-640 range.
Read More »National Credit Default Rates Fall in February
Data released by S&P Dow Jones Indices and Experian found that national credit default rates during the month of February declined. The S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, found that the national composite rate was 1.30 in February, down from 1.34 in January.
Read More »RealtyTrac Launches File Licensing Business for Nationwide Sales Deed, Mortgage, and Tax Data
RealtyTrac announced Wednesday it has entered the tax, deed, and mortgage data licencing business, making it the first new entrant in the business in more than a decade.
Read More »What is Causing the Decline in Short Sales?
Consequences stemming from the expiration of the Mortgage Forgiveness Debt Relief Act may be surfacing, according to a perspective piece written by CoreLogic’s Kathryn Dobbyn. The piece found that throughout 2012 and into 2013, short sales had been steadily declining, partly due to rising home prices.
Read More »Employment Cuts Reflect Changes in Mortgage Industry
Although employment is being reduced, the need for certain types of talent is more critical than ever, according to Rick Glass, founder of R.T. Glass & Associates, one of the mortgage banking industry's leaders in executive search since 1993.
Read More »ZVN Announces Relocation to Support Steady Growth
ZVN Properties, an Ohio-based field services provider, announced plans to move out of its current digs and into a newly renovated 17,000 square-foot facility.
Read More »Regulations Pose “Continued Operational Problems”
Speaking at the fifth annual Five Star Government Forum on Tuesday, Christopher Whalen presented on the topic, "Government's Role in Restoring a Healthy Mortgage Market." Whalen's presentation focused on the effects of government regulations on the housing industry.
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