HAFA Targets Reducing Foreclosure Numbers
From Monday 5th April a new government programme kicked off aimed at reducing foreclosure numbers. It will expedite short sale process and stop the banks from chasing the borrowers with deficiency judgments. This step would be a big one taken in the right direction to lessen the sting of the foreclosure [...]
Loan Officer Survey: Most Banks Hold Steady on Defensive Lending Standards
Posted To: MND NewsWire
The Federal Reserve has released the Q1 2010 Senior Loan Officer Survey . There has been little change in lending standards for either residential mortgage loans or home equity lines of credit over the past few months. According to the Federal Reserve, 79.2 percent of the banks surveyed had kept their credit [...]
MARI Says Loan Fraud "Significantly Understated"; Risk Retention Reform Issues; Jumbo Loan Pricing; Many Important Investor Updates
Posted To: Pipeline Press
A Mississippi State trooper pulled over my brother on I-65. The trooper asked, "Got any ID?" My brother replied, "Bout whut?" How about "what the initial/informal volume reports are saying about April production levels?" Well, on a scale of 1-10, January was a 5, February was a 6, and March was a [...]
Pending Home Sales Up in March. Stabilization Depends on REO Liquidation, Jobs, Regs
Posted To: MND NewsWire
The National Association of Realtors released the Pending Home Sales Index data today. NAR's Pending Home Sales Index measures housing sales contract activity. A sale is listed as "pending" when a contract to purchase an existing home (single-family, condos, and co-ops) has been signed but the transaction has not closed. A signed [...]
Pending Home Sales Rise 5.3 Percent in March
The number of buyers who signed contracts to purchase homes surged more than expected in March, another sign that government incentives are propelling the housing market this spring.
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Fed Asks Court to Reconsider Discount-Window Ruling
The Federal Reserve's Board of Governors asked a federal appeals court Monday to reconsider a ruling that ordered it to disclose documents related to individual borrowing from its discount window and other "last resort" lending programs….(read more)
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5/4/10–Ambac Update, CDI Bill, European Counterparty Risk
*Thank you to our own John Kohler for highlighting this latest development with Ambac. Aurelius Capital Management, LP, Fir Tree Inc., King Street Capital, L.P., , Monarch Alternative Capital LP, and Stonehill Capital Management LLC have filed an objection to the Ambac Assurance rehabilitation plan and the "Segregated Account" that was created to ring fence [...]
Factory orders strengthen, home sales contracts up
A surprisingly busy month for U.S. factories and a surge in home buying are the latest signs that the economic recovery is picking up.
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Pending Home Sales Up in March. Stabilization Depends on REO Liquidation and Jobs
Posted To: MND NewsWire
The National Association of Realtors released the Pending Home Sales Index data today. NAR's Pending Home Sales Index measures housing sales contract activity. A sale is listed as "pending" when a contract to purchase an existing home (single-family, condos, and co-ops) has been signed but the transaction has not closed. A signed [...]
Economic Uncertainties and Technical Factors Help Rates Extend Rally
Posted To: MBS Commentary
"Rate sheet influential MBS bid higher but lagging benchmarks greatly Stock Lever's influence is obvious Economic uncertainties and technical resistance keep stocks grounded S&P futures -20.50 art 1178. Range bound for most part Dollar Index: +.846 at 83.118 NYMEX Crude: -2.35 at 83.84 Good Morning All. While Japan is out until Thursday, [...]
NYC bomb suspect’s Conn. home was in foreclosure
Records obtained by The Associated Press show that Chase Home Finance LLC sued Faisal Shahzad in September to foreclose on the home in Shelton.
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Pending home sales rise 5.3 percent in March
The number of buyers who signed contracts to purchase homes surged more than expected in March, another sign that government incentives are propelling the housing market this spring.
Real estate – U.S. Housing Market – Business – Government – Contract
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U.S. Areas Where Buyers Can Search Bank Owned Homes in the Future
Housing market experts have released a list of cities in the U.S. that are expected to suffer from a drop in home prices. According to them, home buyers who search bank owned homes and other cheap properties should look in on these areas in the coming year.
In a report published by research firm Local Market [...]
Poll: End of homebuyer tax credit wona t hurt real estate market
The end of the federal tax credits for home buyers won’t have a significant impact on the real estate market, according to a national survey by Prudential Real Estate.
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Global commercial property recovery well under way, new report shows
Latin America and Asia are leading the recovery in the global commercial property market with Peru, Brazil and Singapore providing the best upswing, according to a new report
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FTC cracking down on mortgage fraud
Dear Action Line: What’s being done by the Federal Trade Commission about these foreclosure loan modification companies that take off with your money right at the last minute.
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Fitch, Moody’s to Maintain Spain’s Triple-A Rating
Fitch Ratings and Moody's Investors Service moved to dispel market rumors of a possible downgrade for Spain saying they both maintain the maximum triple-A rating on Spain with stable outlooks….(read more)
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Fed’s Bullard Sees Little Risk in Gradually Selling Mortgages
Federal Reserve Bank of St. Louis President James Bullard said the central bank, if it were to start selling mortgage securities later this year, could start the process with "little impact" on markets by using a "reverse taper" approach to slowly unwind its balance sheet….(read more)
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Car-Bomb Suspect to Appear in Court
Details emerged on an American man of Pakistani descent taken into custody in connection with the botched car bombing in Times Square. He is due to appear in court to face charges….(read more)
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Taller Buildings, Cheaper Homes
Taking issue with Jane Jacobs, an economist says tall buildings and high population density can be a virtue in urban life….(read more)
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Northern California Fair Housing Groups Awarded $2.2 Million to help fight Discrimination
SAN FRANCISCO – The U.S. Department of Housing and Urban Development today presented over $2.2 million to several fair housing organizations to help fight housing discrimination in Northern California. John Trasvina, HUD's Assistant Secretary for Fair Housing and Equal Opportunity, made the grant presentations to Bay Area Legal, California Rural Legal Assistance, Fair Housing of [...]
Runt Rants – A "Two Tier Pricing Structure" for Appraisal Services
AUTHOR: Ken Verrett: The author is the owner of Acorn Appraisal Associates, a 24 year old firm offering a wide range of quality appraisal services to the Financial and Business Communities. Overview We've had a good discussion of the volatile……(read more)
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Did Greenspan try to quash a housing-bubble debate?
The Huffington Post is running hard with Ryan Grim’s story about recently-released Fed minutes from 2004. “Greenspan Wanted Housing-Bubble Dissent Kept Secret” is the headline, and it’s running with a large and unflattering picture of Greenspan. The story’s being picked up all over the place: Kevin Drum , Ryan Avent , and Yves Smith have [...]
When Developer Folds, HOA Has Questions
Here are a few answers to questions condo owners may face when a developer declares bankruptcy….(read more)
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Did You Know: Home Equity and Household Wealth
Did you know that among seniors home equity accounts for 26 percent of household wealth?…(read more)
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