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Florida’s Existing Home, Condo Sales Surge Once Again in April

April marked yet another month of increased sales activity in Florida's residential real estate market. According to the latest housing data released by Florida Realtors, existing home sales surged 27 percent in April from the same month last year, and during the same period, existing condo sales soared 55 percent. Homebuying conditions in the Sunshine State remain favorable, with a variety of housing options available in local markets at attractive prices.

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Poor Risk Management, Unrealistic Optimism Collapsed Housing: MBA

It's hard to pinpoint just what brought the nation's thriving residential real estate market to its knees. Everyone's got an opinion, but trying to nail down the exact trigger in order to prevent a sequel is a difficult task. The Mortgage Bankers Association (MBA) is attempting to do just that. According to a study released Wednesday by the trade group, it was poor risk management habits, coupled with a short-term focus and unrealistic optimism among senior business managers that brought down the U.S. housing and mortgage markets.

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NAR Predicts Peak in Commercial Real Estate Vacancies Near Early 2011

The commercial real estate market continues to be plagued with rising vacancy rates. But according to a recent report by the National Association of Realtors, vacancies should level out in most markets by the end of this year or early 2011. The Society of Industrial and Office Realtors (SIOR), in its SIOR Commercial Real Estate Index, an attitudinal survey of nearly 700 local market experts, confirmed that significant fallout from the recession remains, but to a lesser extent.

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Mortgage Insurer Genworth Ups Foreclosure Prevention by 81%

Mortgage insurer Genworth Financial reported Wednesday that it saved nearly $3.4 billion in mortgages from foreclosure in the 12 months ending March 31, 2010. Mortgage dollars saved were up more than 81 percent from the same period last year. Over the last year, Genworth's U.S. mortgage insurance division worked with its lender partners and servicers to complete more than 23,000 mortgage workouts nationwide through its Homeowner Assistance Program.

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Bolstered by Refinance Activity, Mortgage App. Volume Jumps 11.3%

Although purchase applications declined further, total mortgage loan application volume jumped 11.3 percent for the week ending May 21, 2010, due to a continued increase in refinance applications, the Mortgage Bankers Association (MBA) reported Wednesday. According to MBA's Weekly Mortgage Applications Survey, the purchase index fell 3.3 percent from one week earlier, but during the same period, the refinance index surged 17 percent.

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Freddie Mac Veteran Named VP of Multifamily Production and Sales

Freddie Mac recently announced the appointment of Mike McRoberts, an 18-year veteran of the company, as VP of multifamily production and sales. In his new position, McRoberts is responsible for the origination and purchase of conventional multifamily loans nationwide, the Program Plus Seller/Servicer network, and the four multifamily regional sales offices.

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Freddie Mac’s Delinquency Rate Falls for Second Consecutive Month

Mortgage giant Freddie Mae is finding itself on the downward side of the delinquency arrow - and when it comes to delinquencies, the downside is an angle the GSE didn't see for a long three-year stretch. According to Freddie's monthly summary report released Tuesday, the company's single-family delinquency rate fell to 4.06 percent in April, down 7 basis points from March. It was the second straight month that the GSE has reported a decline in delinquencies.

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HOPE LoanPort Adds Yet Another Counseling Agency to Its Roster

HOPE LoanPort's roster of participants seems to be ever-growing. Consumer Credit Counseling Services of Delaware Valley, with 19 offices in the Philadelphia metro area, is the latest to join the more than 200 counseling agencies and 10 major servicers already committed to the new Web portal.

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Global DMS Releases Secondary Market Edition of Its MARS Technology

Global DMS, a Lansdale, Pennsylvania-based provider of appraisal process management solutions, recently released MARS SME, the secondary market edition of its MARS MISMO Appraisal Review System technology. The company said this new sytem offers investors and asset managers a fast and easy way to value entire loan pools, all automatically within just a few minutes.

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