July 6, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 1, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.2 percent as refinance activity plummeted due to rising interest rates. […]
July 6, 2011 (Jeff Alan) The Rasmussen Consumer Index fell to a new low in 2011 of 69.8, down 16 points from a month ago and down nine points from three months ago. Only 21 percent of those polled now believe the economy is getting better while 58 percent believe it’s getting worse. […]
July 6, 2011 (Chris Moore) Bank of America has announced that it is donating up to 100 vacant foreclosed properties to the Cuyahoga County Land Reutilization Corporation (Cuyahoga Land Bank) for reuse, redevelopment and neighborhood revitalization, reducing urban blight. […]
July 6, 2011 (Chris Moore) Housing data through May continues to show that the housing market remains fragile despite an uptick in housing prices and a drop in the number of new homes in foreclosure according to the latest release of the Obama Administration’s June Housing Scorecard. […]
July 5, 2011 (Shirley Allen) Existing single-family home sales in Phoenix hit the highest level for the month of May in six years as investors purchased homes at near record levels according to real estate information provider DataQuick. But the high level of foreclosure sales continues to keep a lid on home prices. […]
July 5, 2011 (Jeff Alan) Wells Fargo & Co. announced that since the beginning of 2009, they have initiated 687,047 active trial or completed loan modifications of which 585,213 were done through the company’s own loan modification programs and 101,834 that have been done through the federal government’s Home Affordable Modification Program (HAMP), a ratio [...]
July 5, 2011 (Shirley Allen) Private residential construction spending declined 2.1 percent to a seasonally adjusted annual rate of $228.9 billion in May 2011 compared to a revised estimate of $233.8 billion in April 2011, according to the U.S. Census Bureau. Overall private construction spending was down 0.4 percent, from a seasonally adjusted $479.3 billion [...]
July 1, 2011 (Jeff Alan) The Office of Thrift Supervision (OTS) reports that mortgage loan performance on first-lien mortgages serviced by large national banks and federal thrifts improved during the first quarter of 2011. […]
July 1, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced a revision to the Notice of Disclosure form that explains the rights of active duty military personnel and their dependents under the Servicemembers Civil Relief Act (SCRA). […]
