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Services for Real Estate Pros
Providing Cutting Edge Data and Information on the Evolving Real Estate Market With Occasional Commentary
RECENT BLOG POSTS
The House Financial Services Committee is considering a bill to ease the pressure that unsold inventories of vacant, foreclosed homes are putting on the housing market. The Neighborhood Preservation Act would authorize FDIC-member banks, Fannie Mae, and Freddie Mac to enter into five-year lease a...
08/02/2011
The nation's housing crisis has forced unprecedented numbers of homeowners out of their homes, made for a difficult homebuying environment, and tainted many Americans' ideal of owning a home. These factors are taking their toll on homeownership in this country. The Census Bureau says homeownershi...
08/02/2011
Short-sale disputes were designated as the most significant legal issue facing real estate professionals, according to a recent study by the National Association of Realtors. Almost 55 percent of survey respondents listed short sales as the cause of "a significant number of disputes." REO-related...
08/02/2011
July 27, 2011 Summary of Current Economic Conditions by the Federal Reserve Economic activity continues to grow but the pace has moderated in many parts of the country, weighed down by a persistent weakness in the residential real estate sector, according to the latest market-gauging Beige Book ...
08/01/2011
The Federal Housing Administration's (FHA) Mortgagee Review Board has announced sanctions against 240 FHA-approved lenders. The federal agency says these lenders failed to meet its underwriting requirements for home loans, which are designed to minimize the risk of default. Actions taken against ...
08/01/2011
Mortgage Electronic Registration Systems, Inc. (MERS) is withdrawing from the foreclosure business. MERS was developed by the mortgage industry to keep track of the servicing rights and note ownership for home loans. It was designed as a paperless property registry to facilitate the transfer of m...
07/28/2011
Bank of America has agreed to participate in Keep Your Home California's principal reduction program, the California Housing Finance Agency announced Wednesday. Principal write-downs offered under the state-run program are part of a $2 billion, federally funded effort to help hard-hit families re...
07/28/2011
Concerns have begun to mount that underwriting standards for loans in newly issued commercial mortgage-backed securities (CMBS) are on the decline. Addressing this issue, the analysts at Fitch Ratings say they believe there is quite a way to go before standards approach levels seen in 2007, a yea...
07/27/2011
Consumer confidence among Floridians rose two points in July to 68. Of the five components that make up the index, three increased, one decreased and one remained unchanged. Perceptions of personal finances now compared to a year ago increased from 54 in June to 57 in July, while expectations of ...
07/27/2011
The Federal Housing Finance Agency(FHFA) reported July 27th, 2011 that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.62 percent based on loans closed in June.This is a decrease of 0.12 p...
07/27/2011