February 11, 2011 (Shirley Allen) The Mortgage Bankers Association (MBA) has submitted a letter to Edward DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), calling for an extension to the Home Affordable Refinance Program (HARP) along with improvements to some of the guidelines contained within the program. Read more...
February 11, 2011 (Shirley Allen) The city of Atlanta has started charging homeowners and creditors fees for abandoned properties along with requiring those homes to be registered with the city. The registries are to help local government’s better track the owner or financial institution responsible for abandoned homes in the area. Some local governments may [...]
February 10, 2011 (Jeff Alan) The Navy Federal Credit Union, the largest originator of mortgage loans among all credit unions, reported that they originated $1.8 billion of residential loans in the fourth quarter, a 54 percent spike from the same period a year ago, and one of its best quarters ever. The Credit Union funded [...]
February 10, 2011 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long- and short-term rates rising sharply this week. Mortgage rates are out their highest level since April 2010 and are attributed to positive economic news that pushed long-term bond yields higher. Read more...
February 10, 2011 (Chris Moore) RealtyTrac released it monthly Foreclosure Market Report for January 2011 which reveals that foreclosure filings increased 1 percent in January compared to December, but was down 17 percent from a year earlier. A total of 261,333 U.S. properties received a foreclosure filing in January, which equates to one in every [...]
February 10, 2011 (Shirley Allen) In a special report released by ComplianceTech, African-Americans and Latinos borrowed 62 percent less in 2009 to purchase or refinance homes when compared with 2004, while mortgages to whites declined by just 17 percent during the same time frame. Read more...
February 9, 2011 (Shirley Allen) According to the data collected on February 8, 2010, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders were 5.31 percent (5.6% APR) for 30-year fixed mortgages, which is up from 5.05 percent the week before, 4.48 percent (4.91% APR) for 15-year fixed mortgages, which [...]
February 9, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 4, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from last week. Read more...
February 9, 2011 (Jeff Alan) Zillow Real Estate Research joined CoreLogic and Lenders Processing Services by releasing its December Home Value Index (HVI). According to the data collected from 132 metropolitan areas, monthly depreciation in home values increased 0.9 percent in December 2010 from the previous month. The median home value nationally was $175,215, down [...]
