The Miami Association of Realtors (MIAMI), along with eBrokerHouse, Inc., announced a landmark agreement that will make the eBrokerHouse platform available to MIAMI's membership.
Read More »Households Climb Out of Financial Distress in Q2: CredAbility
U.S. households have found their way out of financial distress for the first time in nearly four years, with housing as the main reason for the improvement, according to the CredAbility Consumer Distress Index released Wednesday. Households found relief with their mortgages as homeowners refinanced and late payments hit a three-year low.
Read More »NTC to Unveil Product Improvements at Five Star Conference
Nationwide Title Clearing (NTC) announced that the company plans to demonstrate its newly-improved PerfectChain Assignment Verification Report service as the Five Star Conference and Expo in September.
Read More »Analysis: Investors Driving Recovery as Activity Surges
A recent analysis from John Burns Real Estate Consulting suggests that investors may be the biggest driving force in the housing recovery. Across the 167 metro areas analyzed by the company, investor activity as a share of all transactions rose to 29.6 percent in the first quarter of 2012, up from a low of 23.6 percent in the last quarter of 2009.
Read More »Existing Home Sales Improve in July, Shy of Expectations
Existing homes sale rose to an annual rate 4.47 million in July, the National Association of Realtors reported Wednesday. Economists had expected the sale pace to be 4.51 million. The increase 100,000 was less than half of the 250,000 drop in the sales pace registered for June.
Read More »Fitch: Repurchase Risk Increasing for Banks
Analysts with Fitch Ratings found in a report on Monday that repurchase risk remains high for several financial institutions, including Bank of America, JPMorgan Chase, and Ally Financial. According to Fitch, repurchase risk climbed to 41 percent for Bank of America. Roughly 60 percent of the claims stemmed from private-label requests.
Read More »President to Congress: Pass Refinancing Bill
In an unexpected appearance before the White House Press Corps on Monday, President Barack Obama called for Congress to pass a refinancing bill to benefit American homeowners.
Read More »New Short Sale Guidelines for GSEs Will Make Process Easier
Starting November 1, 2012, Fannie Mae and Freddie Mac will implement new short sale guidelines to make the approval process easier for eligible borrowers. The new guidelines include streamlining the approach for documents, having the GSEs waive their right to pursue deficiency judgments, and raising the offer to second lien holders up to $6,000.
Read More »Fannie Mae Forecasts Modest Economic Growth Despite July’s Gains
Fannie Mae's Economic & Strategic Research Group issued its latest economic outlook, maintaining its expectations for modest growth in 2012. This news comes in spite of reports of strengthening retail sales and job growth in July. The group pointed to dismal news throughout the first half of the year as reasoning for its unchanging outlook. However, even with slowing job growth, global and domestic economic uncertainty, and a decline in consumer spending, things are not anticipated to get worse.
Read More »Best Medical Files Suit Against Wells Fargo Over Commercial Loans
Wells Fargo faces litigation from Best Medical, Inc., part of Virginia-based TeamBest, which creates and distributes medical products and technology. The litigation, which originated in spring 2010, was elevated to the U.S. Federal Court in Alexandria, Virginia about two weeks ago.
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