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Nevada, Florida, and Illinois were the top three states in negative equity for residential properties in the third quarter of 2014, marking the fourth consecutive quarter those three states led the nation in that category, according to RealtyTrac's Home Equity & Underwater Report for Q3 2014 released Thursday.
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Fed, SEC Approve Risk Retention Rule
The residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved on Wednesday by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC), the last two of six federal agencies to approve the rule, according to the Fed.
Read More »Fannie Mae Expects Slow But Sure Housing Growth in 2015
Where the U.S. housing market is concerned, Fannie Mae chief economist Doug Duncan said he is anticipating overall weaker home sales in 2014 than in 2013. But he expects that overall home sales in 2015 will post their best performance since 2007 despite seeing only moderate growth for the year.
Read More »State Regulators Form Task Force to Develop Mortgage Servicing Standards
A group of state bank regulators is forming a task force to develop new mortgage servicing standards for non-bank firms, according to an announcement released Wednesday.
Read More »Dimont & Associates Ends Wingspan Association, Goes Independent
In Dallas, insurance claims management firm Dimont & Associates announced it is once again operating as an independent company, ending its affiliation with Wingspan Portfolio Holdings.
Read More »Fannie Mae Hires EVP, General Counsel
Former OneWest Bank vice chairman Brian P. Brooks is joining Fannie Mae as EVP, general counsel, and corporate secretary, according to an announcement from the company.
Read More »Seriously Underwater Mortgage Rate Sinks to Lowest Level in Two Years
The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the previous quarter, hitting its lowest level in more than two years, according to RealtyTrac's Q3 2014 Home Equity & Underwater Report released Thursday.
Read More »Study: Fewer Marriages Result in Slow Housing Recovery
The steep decline in the number of marriages in the U.S. among the population aged 25 to 29 has been a key factor in the slow recovery of the housing market, according to a report from John Burns Real Estate Consulting (JBREC).
Read More »Consumer Credit, Mortgage Default Rates Slightly Increase
The rate of consumer credit default in the U.S. inched slightly upward in September, and the mortgage default rate also marginally increased, according to the September 2014 S&P/Experian Consumer Credit Default Indices released earlier this week.
Read More »CFPB Finalizes Minor Changes to Rules to Expand Credit Access
The Consumer Financial Protection Bureau (CFPB) finalized minor changes to its mortgage rules designed to ensure expanded credit access, which has been a hot topic in recent weeks.
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