News & Headlines
A directory of real estate links, outlining the most popular news and other articles as voted on by the BiggerPockets community.
Links from: dsnews.com
Oregon AG Warns of Foreclosure Review Scam
Oregon Attorney General John Kroger has issued a public warning to consumers in the state to be on the lookout for scammers portending to offer independent foreclosure reviews as part of the mandate to major mortgage servicers issued by the OCC an...
Orlando Realtors See Rise in Short Sales and Median Price
The overall median sales price of existing homes in Orlando, Florida, was $115,000 in November, up 9.52 percent from a year earlier. The Orlando Regional Realtor Association attributes the gain to an increase in short sales, which are now changing...
Rise in Home Sales Signifies Strengthening Market
The long-awaited housing recovery is beginning to blossom, according to industry experts taking a look at recent existing-home sales data
Vacant Foreclosures Saddle Local Communities With High Costs
A study from the Government Accountability Office (GAO) found that vacant properties rose 51 percent over the span of a decade, from nearly 7 million in 2000 to 10 million in April 2010. Ten states saw vacancies go up by 70 percent or more as a re...
Fed Identifies Markets Primed for Bulk REO
The Federal Reserve is throwing its support behind a large-scale REO-to-rental program to address the oversupply of vacant homes and prevent property values from falling further. The Fed notes that in contrast to the market for owner-occupied home...
Freddie Mac Extends Forbearance for Unemployed Homeowners
Freddie Mac has announced an extension of forbearance for unemployed borrowers of up to 12 months. According to Freddie Mac, almost 10 percent of delinquencies in the GSE’s portfolio are linked to unemployment. Under the new directive, servicers may
Delinquencies Stubbornly High
New data released by Lender Processing Services (LPS) shows mortgage delinquencies at the end of November 2011 were nearly 25 percent below their January 2010 peak. LPS says over that period, the number of noncurrent mortgages was slashed by nearl...
Fannie Mae: Economy Is Growing, But Momentum Will Wane
While the euro-zone crisis continues to depress the economic outlook here stateside, the U.S. economy is growing and we will see a decent close to a tough year, according to Fannie Mae. The GSE says the fourth quarter will end with more than 2.5 p...
CEO's Corner: A New Year for Our Industry
With a New Year comes new challenges for our industry – and the promise of a better tomorrow. For homeowners. For our economy. For our nation. As it does for many Americans, a New Year offers the mortgage lending and servicing industry a chance to t
Study Finds 38% of Homes Purchased in 2011 Bought with Cash
Despite record low mortgage rates, 2011 has seen a surprisingly high level of cash home purchases, according to the real estate research firm Hanley Wood Market Intelligence. Analysts with the company say between tight lending standards and a desp...
CMBS Delinquency Rate Retreats
The delinquency rate for loans held in U.S. commercial mortgage-backed securities (CMBS) fell 26 basis points to 9.51 percent in November, according to Trepp, LLC. That’s the second biggest decline recorded by the firm this year, surpassed only by A
Investors Increase Market Share
Investors are making up an increasing share of home purchase transactions, especially in the distressed sector, according to an industry report. In October, investor purchases accounted for 22.3 percent of transactions, in keeping with the last th...
Are We an Industry Afraid of Our Shadows?
Estimates of the industry’s shadow inventory vary widely, but one thing analysts do agree on is that the overhang is massive and will likely weigh on market dynamics for years to come. Measurements of soon-to-be repossessed and foreclosed homes that
Freddie Mac's Average REO Sale Yields 94% Market Value
Freddie Mac says its REO homes sell for an average of 94 percent of market value. According to the GSE, because Freddie Mac-owned homes are well maintained and priced right for the local market, most sell close to full estimated market value. Fred...
Past-Due Mortgages Up for First Time Since 2009
The national mortgage delinquency rate edged up during the third quarter of 2011, marking the first increase in nearly two years, according to TransUnion. The credit bureau calculates the delinquency rate as the percentage of borrowers 60 or more ...
HUD Offers REO Homes for $100 Down in Select States
HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers. In select states, from now into October of next year, buyers need a down payment of only $100 to purchase a HUD-owned REO home. The buyer mu...
Industry's Past-Due Mortgages Continue to Drop
How many homeowners in the United States are behind on their mortgage payments? It’s 6,373,000, according to Lender Processing Services (LPS). The number is staggering, but it’s actually on the decline, down from 6,397,000 as of the end of Aug
BOA's $8.5B Proposal to Investors Slated for Federal Review
Investors opposed to the $8.5 billion settlement reached between Bank of America and securities trustee Bank of New York Mellon will get their day in federal court. The settlement was originally filed in New York state court. A band of dissenting ...
Bank of America Reports Q3 Net Income of $6.2 Billion
Bank of America reported Tuesday that it saw a profit of $6.2 billion during the third quarter of this year, compared to a loss of $7.3 billion a year ago. Perhaps the biggest headline-grabber gleaned from BofA’s third-quarter numbers is that the co
Execs of TARP-Supported Bank Charged with Hiding Millions
A federal grand jury in San Francisco has indicted two former bank executives of the now-defunct United Commercial Bank for using fraudulent accounting maneuvers to misrepresent loan losses to federal agencies as the bank took money from taxpayers...
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