Freddie Mac recently announced that they have turned a year-old pilot program into a permanent effort. Accompanied by the Consumer Credit Counseling Services (CCCS) of San Francisco and Atlanta, Freddie will use their counseling hotline on a permanent basis to reach borrowers on the verge of losing their homes.
Read More »REO Investors Take Heed, 300 Plus Detroit Homes Go on the Block
More than 300 foreclosed Detroit homes will be auctioned by Dallas-based Hudson & Marshall at 1 p.m. January 20-21 at the Hyatt Regency Dearborn, where buyers will be able to pursue bargain sale prices through the foreclosure auction.
Read More »LandAmerica Announces New Senior Vice President
LandAmerica Financial Group, Inc., announced Tuesday that Andrew S. Brownstein has been named senior vice president and international operations manager. In his new role, Brownstein will be responsible for LandAmerica’s operations outside the United States from his home office in Glen Allen, Virginia.
Read More »Merrill Buys First Franklin For $1.3 Billion
Cleveland-based City Corporation:http://www.nationalcity.com has completed the sale of its First Franklin origination franchise and related servicing platforms to Merrill Lynch & Co., said an announcement made by the company today.
Read More »First American CEO, VP, Group President Honored for Service to Operation HOPE
First American Corporation leaders were among the key directors and supporters who were recognized and awarded for their help in making 2006 a success for Operation HOPE, a nonprofit public-benefit organization working to empower under-served communities.
Read More »Real Estate Investor Helps Credit-Challenged Buyers
Omaha Properties announced last Thursday that it will join with several large lending institutions to help credit-challenged individuals buy a home. Those with lower credit scores (sub 600) will benefit from the program.
Read More »Boston Mayor to File Legislation in Response to Rising Home Foreclosures
Boston Mayor Thomas M. Menino plans to file state legislation this month concerning rising home foreclosures in the City of Boston. The Homeownership Protection Act of 2007 will propose legislation that will assist homeowners get out of foreclosure trouble, require lenders to disclose accurate and thorough loan terms and costs, and inflict licensing and regulation to eliminate sales deception.
Read More »FHFA Announces HARP Education Effort
The Federal Housing Finance Agency (FHFA) announced a new program Monday that will seek to educate homeowners on potential refinancing options under the Home Affordable Refinance Program (HARP). The program aims to inform underwater homeowners of expanded HARP eligibility requirements and encourage homeowners to discuss refinancing options with their lenders.
Read More »FNC Report Points to Improving Foreclosure Market
A report released this week by mortgage technology company FNC indicates that the foreclosure market has improved dramatically in recent months, with foreclosure rates nearing pre-crisis levels. According to FNC's Director of Research Yanling Mayer, the Foreclosure Market Report reflects rising home equity for homeowners who are trading up to more expensive houses.
Read More »Barclays Issues Housing Forecast
Barclays forecasts U.S. housing prices to rise by 11.0 percent in 2013 and 7.0 percent in 2014, based on data through the second quarter. According to Barclays' Q3 Regional Housing Update, the company also expects the nationwide distressed property segment to fall from its current 3.8 percent of the market to 2.2 percent by 2017, with the most dramatic distress decline taking place in Florida.
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