While a new bill proposing the liquidation of the GSEs might have investors unsure about their future, analysts at Barclays insist there is little to worry about for the time being. The bill, authored by Sens. Bob Corker and Mark Warner (D-Virginia) and titled the ""Secondary Mortgage Market Reform Act of 2013,"" represents a major bipartisan step for housing finance reform. According to a discussion draft obtained by Bloomberg, the legislation would liquidate Fannie Mae and Freddie Mac within five years of its passage.
Read More »Taylor County in Wisconsin Approves CSC as eRecording Vendor
The partnership expands electronic document recording services for the county, which has offered electronic document recording services since mid-2012.
Read More »Pierce and Associates Opens Texas Office
Pierce and Associates, P.C. expanded its footprint into the Lone Star state with the opening of a satellite office. The new office, which is located in the Dallas-Forth Worth metroplex, officially opened its doors on June 10.
Read More »FHFA: 45% of HARP Refis in Q1 Were for Underwater Borrowers
Refinance volume under the Home Affordable Refinance Program (HARP) stayed strong in March even as mortgage rates rose, the Federal Housing Finance Agency (FHFA) reported Wednesday. In March, the GSEs refinanced close to 100,000 loans through HARP, bringing the program total since the 2009 inception to nearly 2.4 million, according to the FHFA. The program continued to provide relief to underwater borrowers, who accounted for nearly half of all HARP refinances in Q1.
Read More »Subtle Discrimination Endures Over Decades in Housing Market
When seeking a new home, minorities face subtle discrimination that could increase costs or prolong their home search, according to a report released Tuesday by the Department of Housing and Urban Development (HUD). While HUD's report reveals a downward trend in ""the most blatant forms of discrimination,"" such as refusing to meet with minority buyers, HUD found less obvious forms of discrimination persist. Among the types of discrimination studied, ""[m]ost important, minority homeseekers are told about and shown fewer homes and apartments than whites,"" HUD said.
Read More »CoreLogic: 850K Borrowers Rise Out of Negative Equity in Q1
Significant improvements in home values helped lift 850,000 borrowers out of negative equity in the first quarter, CoreLogic reported. Overall, 9.7 million borrowers, or 19.8 percent of all residential mortgages, were underwater in the first quarter of 2013, down from 10.5 million, or 21.7 percent of all mortgages, in the previous quarter, according to the data provider's estimate. The state with the highest share of upside down borrowers was Nevada, where 45.4 percent of residential mortgages are underwater.
Read More »Fitch Doles Out Upgrades But Insists RMBS Still Vulnerable
While perhaps not completely out of the woods yet, residential mortgage backed securities (RMBS) are on the mend with some improved performance of late, according to Fitch Ratings. An ""improving U.S. housing market and stable macro environment"" are boosting performance, leading Fitch to upgrade about 480 RMBS bonds so far this year and harbor a ""Positive Outlook"" on about 800 RMBS bonds. Looking ahead, the agency does not anticipate widespread upgrades in the year to come.
Read More »IndiSoft’s Data Destruction App Certified by Defense Department
The U.S. Department of Defense certified IndiSoft's secure data destruction application known as WipeOut.
Read More »Real Property Management Doubles in Size Over Two Years
The property management industry is poised for growth thanks to the booming rental sector, according to Utah-based Real Property Management. In fact, Real Property Management says it has doubled in size over the past two years. Currently, the company has 230 offices across 47 states and opens an average of eight new franchises per month.
Read More »Financial Problems Drop Sharply for Households
Americans are experiencing significantly fewer financial troubles than they were a month ago, according to the latest index from Consumer Reports. The Consumer Reports Trouble Tracker Index, which measures the proportion of consumers that have faced financial difficulties and the number of events they've encountered, fell sharply from 41.7 in the last report to 34.0--the lowest level since the measure was created.
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