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SoCal Home Sales Stuck at 6-Year Low

Southern California home sales quickened slightly in March compared to February but are far below average, according to a new report issued by DataQuick. The company reported that home sales were at the lowest levels for a March in six years.

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HUD and Dubuque, Iowa Settle Allegations of Discrimination

The U.S. Department of Housing and Urban Development (HUD) announced an agreement with the city of Dubuque, Iowa, settling allegations that the city discriminated against African Americans. The agreement stemmed from allegations of discrimination in the administration of the city's Housing Choice Voucher Program.

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Nevada Slowly Making Economic Comeback

It would appear that the Silver State is slowly making a comeback, according to a new report from the Wells Fargo Economics Group. Nevada, which posted the fastest year-to-year growth of any state, is battling back from the housing slump and severe recession.

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Jersey Shore State Bank Honored by Pennsylvania Housing Finance Agency

Jersey Shore State Bank, a subsidiary of Penns Woods Bancorp, Inc., was recognized by the Pennsylvania Housing Finance Agency (PHFA) for its 2013 performance. The bank's mortgage services division received a high producer ranking of PHFA loans in Pennsylvania, top lender in PHFA HOMEstead loans, and the top producer of new PHFA construction loans.

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NY Fed: Consumer Expectations Rise in March

A new survey put out by the Federal Reserve Bank of New York found that consumer expectations rose slightly in March, and home price change expectations declined slightly. The bank's findings from the Survey of Consumer Expectations (SCE) found that consumer expectations both rose at the one-year and three-year horizon by 3.2 percent and 3.4 percent, respectively.

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4 Indicted in ‘Massive Bank Fraud Scheme’

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that four men—Sean Cutting, Brian Melland, Bijan Madjlessi, David Lonich—have been indicted on federal charges of conspiracy, bank fraud, wire fraud, money laundering, false statements to a bank, false bank entries, and obstruction of justice.

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Spring Thaw Expected to Help Minnesota Homeowners

After a long, dreary winter, the Minneapolis Area Association of Realtors (MAAR) pointed towards signs of renewed optimism in the 13-county Minneapolis-St. Paul metropolitan area. Seller activity rose 5.5 percent to roughly 6,500 newly listed homes in March. Although inventory remains near a 10-year low, the group believes consumers should have more options this year compared to recent years.

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Single-Family Sales Increase in Connecticut

2015 HUD

According to a new report from the Warren Group, single-family home sales are up 2.6 percent overall this year in Connecticut, with a 2.8 percent increase in February of this year from last year. Fighting a low inventory this month, the month represents ten straight months of increases in a row, easing fears.

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Missouri Businessmen Plead Guilty to Fraud

The Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that James Crews and Michael Hilbert pleaded guilty to defrauding Excel Bank. According to plea agreements, Crews and Hilbert admitted to making false statements to Excel Bank with respect to escrow funds or “fix funds” set aside to repair rental homes financed through the bank.

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Freddie Mac Extends Mortgage Relief to Washington Disaster Victims

Freddie Mac commented Wednesday that its' full menu of mortgage relief policies are available for borrowers who are affected by disasters in the state of Washington from recent flooding and landslides. The company said, "Freddie Mac's disaster relief policies enable servicers to help borrowers with homes in presidentially declared Major Disaster Areas where federal Individual Assistance programs are being made available."

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