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Tag Archives: HOUSING

FDIC Bank Revenues Rise 12 Percent

According to a new report, FDIC-insured banks saw a jump in income over the first quarter. The institutions reports a 12.7 percent rise in revenues over the year. Total loan balances at FDIC banks are slowing down.

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Buying Remains the Cheaper Option, but for How Long?

Buying might still be cheaper than renting in major U.S. metros, but rising prices and stalling rents could soon flip that dynamic. A new report by Trulia shows how the most expensive U.S. markets could see a rise in rentals. A lot depends on federal policy over the next couple years.

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Freddie Funds $28B in Mortgages

According to its latest summary report, Freddie Mac’s mortgage portfolio has increased 0.5 percent over the year. In April, the government-sponsored enterprise completed more than $28 billion in mortgage purchases and issuances, and 4,500 single-family loan modifications. Its mortgage-related securities portfolio also increased year-over-year.

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Who’s to Blame for the Housing Shortage?

The most pressing problem facing the housing industry today is the tight inventory and millennials may be partly to blame. As many young potential buyers move into cities and away from the suburbs, housing construction has been notoriously weak. Cities like New York, San Francisco, Boston, and Los Angeles have seen their suburban areas shrink.

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Servicers Suffer from Disparate Tech

Out-of-sync technologies are holding businesses back, according to a recent report. Additionally, make it hard to serve the millennial homebuyer, who expects a more seamless, digitized solution when purchasing a home. This is largely because tech solutions in today’s post-crisis, highly-regulated industry are product-specific, which creates a “complex ecosystem made up of siloed disparate systems.”

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The Week Ahead: Moving into Summer

On Tuesday, Fannie Mae will release its May 2017 Economic and Housing Outlook report. The Outlook is a forecast of economic trends in the housing and mortgage-finance markets, analyzing current and historical data. The previous Outlook from April 2017 saw weak overall economic patterns, while housing activity stayed relatively strong, which Fannie Mae tied to warmer weather.

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Foreclosures Down, Except in 3 States

A new report shows foreclosure filings are down 23 percent since last year, hitting their lowest point since November 2005. Foreclosure starts and completions are also down over the year, though repeat foreclosures have seen an increase. The only places to see jumps in foreclosure activity were New Jersey, Connecticut, Massachusetts, and D.C.

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Delinquencies, Foreclosures Fall Over Year

According to a new report, 30-day delinquencies, 90-day delinquencies, and foreclosure inventory are down over the year. “Early-stage” delinquencies were slightly up, however, rising from 2.08 percent to 2.14 percent. Louisiana saw the most delinquent mortgages for the month.

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GSEs Could be Granted FOIA Exemptions

Fannie Mae and Freddie Mac will now enjoy the nine standard exemptions of the Freedom of Information Act, thanks to a recent amendment to HR 1694. According to the amendment's sponsor, it will help ensure privacy and transparency at the entities. Passed in April, HR 1694 requires the GSEs to adhere to the FOIA for the first time since entering conservatorship.

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SE a Popular Spot for Rental Investors

Due to changes in securitization trends, rental property investors are shifting their acquisition efforts toward the Southeastern U.S. The region offers lower acquisition costs and more attractive yields, a new RMBS report found. In 2016, Florida, Texas, Georgia, North Carolina, and Indiana made up the bulk of investments.

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