Tag Archives: mortgage

FORECLOSURES SPREADING, NEW WAVE SEEN

Not a good month for housing. Existing home sales dropping, new home sales weak, and now more evidence that the shadow inventory is growing and spreading out, just when recent employment trends are turning weaker. RealtyTrac®,  the leading online marketplace … Continue reading

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Mortgage Bulls Bid Fed Adieu

The Fed is withdrawing but Treasury has it planned. Freddie and Fannie are there to backstop. (…) Following a two-day policy meeting, the Fed on Wednesday reiterated its plan to end the program on schedule. (…) Fed officials believe they … Continue reading

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HOUSING WATCH: LAS VEGAS MARKET SHOWS LIFE

Las Vegas single-family sales rose 37% y/y in December, which also represented a surprising 10% sequential increase from November. The strong activity levels in Las Vegas reversed typical seasonal patterns, and are particularly noteworthy, in our view, given the demand … Continue reading

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Principal Cuts on Lender Menus as Foreclosures Rise

The mountain of foreclosures keeps rising and is threatening the economic recovery and banks’ capital ratios. I see more and more signs that the Obama administration is planning to address this issue during the next several months. The Fannie/Freddie Christmas … Continue reading

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U.K. Mortgage Borrowing Rises Sharply

Borrowing by U.K. households picked up significantly in November, driven by a jump in mortgage loans. Figures released by the Bank of England Monday showed net lending to households was £1.083 billion ($1.74 billion) in November, up from just £508 … Continue reading

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U.S. Loan Effort Is Seen as Adding to Housing Woes

The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.(…) This chart from CoreLogic.com shows the huge … Continue reading

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Fannie and Freddie Freed To Rescue the Housing Market(!!!)

Very important steps taken by the Treasury Department. The cat is out of the bag. Fannie and Freddie will take over from the Fed to keep mortgage rates low. Furthermore, they can now accelerate the mortgage modification process as well … Continue reading

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Mortgage Down-Payment Standards Eased

Some mortgage insurers and lenders are beginning to relax their down-payment requirements, in a sign of increased confidence in the housing market. The changes, which are being done on a market-by-market basis, mean buyers in some parts of the country … Continue reading

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Defaults to Rise as Credit Issues Remain

(Bloomberg) — The next six months will bring more credit-card and mortgage defaults, said Mark Greene, chief executive officer of FICO, maker of the credit-scoring formula most widely used by U.S. lenders.(…) Some borrowers are changing the order in which … Continue reading

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US mortgage delinquencies to fall in 2010

After studying 27m consumer records, TransUnion predicts that the rate of mortgage delinquencies – the ratio of borrowers who are 60 or more days behind on payments – will peak in early 2010 before falling towards the end of the … Continue reading

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More Homeowners Fall Behind on Mortgages

The group reported Thursday that 14.4% of first-lien mortgages on one-to-four-family homes in the third quarter were 30 days or more overdue or in the foreclosure process. That is the highest rate since the MBA began reporting such data in … Continue reading

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Mortgage-Delinquency Rate Rose to New High in Q3

Mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 11thstraight quarter, hitting an all-time national average high of 6.25 percent for the third quarter of 2009. This statistic is traditionally seen as a … Continue reading

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