Home >> News >> Data (page 579)

Data

FHA Multifamily Rental Loans Hit New Highs

Despite all-time highs for home affordability, homebuilders are seeing less demand for home construction and more for multifamily rentals, with the Federal Housing Administration recently releasing a report that signals new highs for rental properties across the country. The FHA said that it has endorsed some $10.5 billion in multifamily rental housing loans ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô seven times the number of loans made three years ago and the only second time that the FHA has lent so much.

Read More »

Adding to Worries, New Home Sales Drop in July

Marking a third consecutive month, new home sales fell over July, the Commerce Department reported Tuesday. The drop in new home sales reflects still-weakening consumer confidence as new fears about a global economic slowdown continued to rattle stocks and markets worldwide. New single-family house sales dipped to a seasonally adjusted annual rate of 298,000 over July, reflecting a downward shift in estimates that fixed these numbers at a 0.7 percent decline from 300,000 homes sold over June.

Read More »

Accenture Acquiring Zenta

Accenture is planning to acquire Zenta as part of the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós ongoing efforts to bolster its mortgage lending and servicing operations. The terms of the transaction have not been released, but Accenture has confirmed its intention to debut a new division targeting consulting, technology, and BPO offerings.

Read More »

Report: Low-End Markets See Mild Upswing

Despite the rash of research and news reports about consumers staying wary of new purchases, some markets are seeing first-time homebuyers run to take advantage of historically low prices and mortgage rates, particularly in government-backed mortgage programs, according to a research note from Credit Suisse. The research firm said that the scramble to scoop up new properties occurred particularly among state and federal programs. The research note questioned whether builders will continue with current valuations.

Read More »

RE/MAX Sees Home Price Drop Over July

Over July, home prices fell 0.18 percent lower than over the month before, following a four-month upshot, according to a RE/MAX national housing report released Friday. RE/MAX said that 11 metropolitan areas around the country also registered higher prices in July than over the same period last year. RE/MAX said that homes lasted on the market for a total of some 88 days, starting with the initial listing to the receipt for a sale. The company chalked up the number of months' inventory supply to 7.2.

Read More »

CFPB Architect Formally Explores Senate Bid

Elizabeth Warren is moving closer to confirming her 2012 Senate bid. The controversial professor-turned-politico took formal, exploratory actions in Massachusetts recently, indicating that Warren's rumored plans to run for office are more than speculation. Officially developing an exploratory campaign committee, Warren has also initiated a donation website, elizabethforma.com, and she seems to be the likely liberal candidate vying to unseat Republican Sen. Scott Brown next November.

Read More »

Prudential Enhances Hospitality Holdings

Outrigger Hotels and Resorts has new ownership, following the closing of Prudential Mortgage Capital Company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós $137.8 million acquisition of the hospitality entity. Prudential Mortgage provided the major, seven-year fixed-rate mortgage loan on behalf of Prudential├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós general account.

Read More »

Dow Falls on Banks, Homebuilders. Again

Spurred by ongoing fears about a global economic slowdown and the spreading European debt contagion, the Dow Jones Industrial Average replayed the daytime drama previously seen last week by plunging by over 400 points. As before, the nosedive crashed a party exclusive to mortgage banks and homebuilding companies, gutting their stocks and closing shares at new lows. Bank of America, JPMorgan Chase, and Wells Fargo saw their stocks drop, mirroring sharp losses for Beazer Homes, D.R. Horton, KBH Homes, and Lennar Corp.

Read More »

Existing-Home Sales Plunge by 3.5% in July

Dashing hopes for a more moderate fall, existing-home sales rolled downhill by 3.5 percent in July, with single-family sales hitting a seasonally adjusted 4.67-million annual rate. The National Association of Realtors ascribed the new numbers to tight underwriting practices, a crimped credit supply, and sluggish job creation. The NAR, which released an existing-home sales report Thursday, held that single-family townhomes, condominiums, and coops dropped from a seasonally adjusted annual rate of 4.84 million units over June.

Read More »

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.