Home >> Author Archives: Esther Cho (page 5)

Author Archives: Esther Cho

KeyBank to Buy CMBS Servicing Portfolio from BofA

KeyBank Real Estate Capital, the commercial real estate business unit of KeyCorp, entered into agreements with Bank of America and Berkadia Commercial Mortgage that will lead it to become one of the nation's largest commercial mortgage servicers.

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CoreLogic: Home Price Gains Accelerate to 7-Year High in March

Including distressed sales, home prices rose 10.5 percent year-over-year in March, marking the biggest annual gain in seven years, according to CoreLogic's Home Price Index (HPI). "For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Dr. Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

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Mortgage Rates Continue to Attract HARP Activity in February

The Home Affordable Refinance Program (HARP) continued to bolster refinance numbers in February, according to a refinance report from the Federal Housing Finance Agency (FHFA). Fannie Mae and Freddie Mac reported 97,738 HARP refinances throughout the month, bringing the total number of HARP refinances (from the program's inception) to approximately 2.3 million. FHFA also reported HARP refinances accounted for 21 percent of total refinance volume in February.

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New York AG Threatens Action for Alleged Settlement Violations

New York Attorney General Eric T. Schneiderman revealed plans Monday to take legal action against Bank of America and Wells Fargo for allegedly violating terms under the national mortgage settlement reached in February 2012. The AG's office also revealed Schneiderman sent a letter last week to the settlement monitor Joseph Smith and to each member of the Monitoring Committee notifying them of his intention to sue the banks if the committee does not act.

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