January 26, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 21, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 12.9 percent on a seasonally adjusted basis from last week. The results do not include any adjustments for the [...]
January 26, 2011 (Jeff Alan) U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced $1.41 billion in funding to keep nearly 7,000 local homeless assistance programs operating in the coming year. The grants form a critical foundation for the Obama Administration’s Opening Doors strategy, the nation’s first comprehensive plan to prevent and end homelessness. [...]
January 26, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) announced that it is terminating Origination Agreements with 15 lenders due to higher than normal default rates on loans endorsed by the Mortgagees. Reinstatement is possible if the affected branch or branches have been terminated for at least six months and the [...]
January 25, 2011 (Chris Moore) Existing homes sales shot up 12.3% in December, coming in well above most analysts' estimates and marking growth in five of the final six months of 2010, but there was still an 800 pound gorilla in the room…distressed properties. The National Association of Realtors (NAR) said seasonally adjusted sales rose [...]
January 25, 2011 (Shirley Allen) The Beige Book released by the twelve banks of the Federal Reserve every six weeks reports that economic activity continued to expand moderately from November through December, however, activity in residential real estate and new home construction remained slow across all Districts. Read more...
January 24, 2011 (Chris Moore) The latest new home construction data released by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) reveals new home construction dropped in December to its lowest level in more than a year as the feeble housing sector ended 2010 on a weak note. Private building [...]
January 25, 2011 (Jeff Alan) The Federal Housing Administration (FHA) Mortgage funded $28.1 billion to mortgage bankers for FHA backed single-family mortgage loans in December, a slight gain from the previous month. Included in that figure is $1.7 billion of FHA guaranteed reverse mortgages. FHA also reported an uptick in seriously delinquent mortgage loans during [...]
January 24, 2011 (Jeff Alan) Zillow.com has announced a tool for home buyers and sellers to search for and find local real estate agent based on ratings and reviews from former clients, so if you really think that last real estate agent didn’t “pull out all the stops” to get your home sold…now you can [...]
January 24, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) announced that it is in the process of approving another one-year suspension of its anti-flipping rule on foreclosed properties bought with FHA loans. The suspension was first initiated on February 1st of last year to allow investors to quickly renovate foreclosed homes [...]
