March 2, 2011 (Chris Moore) Nevada Republican Assemblymember Peter Goicoechea has introduced legislation in the State Assembly that would make it a felony to willfully damage a home during the foreclosure process. The bill has been referred to the state judiciary committee. Read more...
March 22, 2011 (Jeff Alan) Mortgage giant Freddie Mac has launched its own YouTube Channel that features five 90 to 120 second videos that separate housing facts from fiction. Each video dispels one of five common myths that could prevent people from keeping their homes if they face foreclosure. It is based on content from [...]
March 22, 2011 (Jeff Alan) Distressed property home purchase transactions dipped in the month of February to 47.3 percent from 49.6 percent in January according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, but it was not likely the result of a healing housing market. Read more...
March 22, 2011 (Shirley Allen) Lender Processing Service (LPS) released its monthly “First Look” Mortgage Report for February 2011 yesterday which is derived from its loan-level database of nearly 40 million loans. The month-end data shows a decline in delinquency rate and foreclosure inventories. Read more...
March 21, 2011 (Chris Moore) Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years according to the National Association of Realtors (NAR). Existing home sales dropped 9.6 percent in February compared to January and home prices dropped 5.2 percent compared to February 2010. Read more...
March 21, 2011 (Chris Moore) As part of the Dodd-Frank Finance Reform Bill, in order to reduce the risk of future housing meltdowns like the one we’ve been experiencing since 2007, mortgage lenders will be required to retain 5 percent of the risk of any home loans they make that don’t meet yet to be [...]
March 21, 2011 (Shirley Allen) There’s more bad news for home prices according to another leading home pricing index. RadarLogic is reporting that home prices have declined to levels not seen since May of 2003. According to the company’s just released RPX Composite index, home prices for the Midwest, West, and the South declined in [...]
March 21, 2011 (Shirley Allen) Bank of America (BofA) has announced that it is doubling its outreach staffing, adding more regional customer assistance centers, holding more community based events, and increasing collaboration with non-profit housing counselors in 2011. Read more...
March 21, 2011 (Jeff Alan) The Federal Housing Administration reports that the serious delinquency rate for mortgages in its portfolio in the first quarter of 2011 has dropped to 8.29 percent from 8.9 percent a year ago. FHA attributes the decline to higher quality mortgages that were originated from 2009 through 2011. Read more...
