NeighborWorks America announced Tuesday in a press release that $63.1 million had been awarded to 29 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 67 community-based NeighborWorks organizations. The money, provided through the National Foreclosure Mitigation Counseling (NFMC) program, is earmarked for counseling to families and individuals facing the threat of foreclosure.
Read More »Midwest Reflects National Cold Weather Woes
Sales of residential homes in the seven-county metro of Chicago followed a pattern similar to January: rising prices, but the pace of sales slow when compared to the same month last year. According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity.
Read More »Foreclosure Inventory Drops by One-Third, Still Elevated
Foreclosure inventory in January was down by one-third over the year, although completed foreclosures ticked up over the month, according to CoreLogic’s National Foreclosure Report released Thursday. Demonstrating an 11.8 percent increase over the month, completed foreclosures totaled 48,000 in January.
Read More »Institutional Investor Sales Decline
RealtyTrac released its January 2014 Residential & Foreclosure Sales Report on Thursday, revealing institutional investors made up 5.2 percent of all U.S. residential property sales in January. Institutional investor sales are down from 7.9 percent in December, and down 8.2 percent from January, 2013.
Read More »Foreclosure Data Suggests ‘Continued But Slower Housing Recovery’
The Data and Analytics division of Black Knight Financial Services issued their "First Look" at January mortgage performance data, noting foreclosure inventory has hit a new post-crisis low. The percentage of foreclosures from the inventory of loans, 2.35 percent, is the lowest since November, 2008.
Read More »Delinquency Rates Drop to Lowest Since 2008
The Mortgage Bankers Association (MBA) released its National Delinquency Survey Thursday, reporting the seasonally adjusted rate for delinquent mortgages is 6.39 percent, the lowest level since 2008. The figure represents mortgage loans for 1 to 4 unit residential properties, and takes into account all loans outstanding at the end of the fourth quarter of 2013.
Read More »Auction.com and NAHREP Partner to Advance Homeownership
Auction.com and the National Association of Hispanic Real Estate Professionals (NAHREP) are joining forces to advance sustainable Hispanic homeownership. Hispanic homebuyers are the largest segment of new homebuyers nationwide.
Read More »HOPE NOW Completes 768,000 Modifications
HOPE NOW, a voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors, released a press release Thursday outlining its loan modification data from 2013. In total, 768,000 homeowners received loan modifications from HOPE NOW in 2013.
Read More »Long Island Ranked Nation’s Hottest Market, Florida Metros Struggle
Pro Teck Valuation Services released on Tuesday January's Home Value Forecast (HVF), a measure of single family residential markets. The company ranked Long Island as the strongest market in the nation, citing its small share of foreclosures as total sales and its comparatively low housing inventory.
Read More »Foreclosure Rate Down to 2.5% at Year-End
According to year-end data from Black Knight Financial Services, 6.47 percent of the nation’s mortgages last year were delinquent, down from a peak of 10.57 percent in January 2010. Meanwhile, about 2.48 percent of loans were in some state of foreclosure—a rate about 4.6 times the pre-crisis average.
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