Quicken Loans Inc., the largest online mortgage lender and third largest lender in the country, announced the launch of its Bring It Home sweepstakes, in which the company will pay five peoples' monthly mortgage bills each time NASCAR driver Ryan Newman finishes among the top five in a Sprint Cup Series race.
Read More »Commentary: Maximizing the Minimum
Economic data for the week ending February 22--particularly for housing--was less than encouraging. A small increase in existing-home sales was the only bright spot, but that was weighed down by another drop in the median price of existing single-family homes to their lowest level in 10 months. The word "another" is critical because it means the drop in inventory in December did not result in higher prices. Indeed, the supply of homes for sale fell again in January, this time to the lowest level in 13 years.
Read More »Housing Affordability Climbs Higher in Q4
Housing affordability rose close 1 percentage point up to 74.9 percent in the fourth quarter of 2012, according to the NAHB's Housing Opportunity Index.
Read More »LPS Introduces Listing Alerts for Servicers
Lender Processing Services, Inc. (LPS) introduced It's Listed! Alerts as a way to let servicers know when properties in their portfolios show up on MLS.
Read More »Appeals Court Affirms MERS’ Authority to Assign Mortgages
A three-judge panel of the U.S. Court of Appeals for the Ninth Circuit has affirmed, without hearing, an order dismissing claims against Mortgage Electronic Registration Systems, Inc. (MERS), according to a release from MERSCORP Holdings.
Read More »Fitch: Recent RMBS Proposals Don’t Stack Up Against Guidelines
Some recent RMBS transactions reviewed by Fitch have strayed away from guidelines designed to create sound assurances about origination and underwriting quality.
Read More »Zillow: Home Values Reach 8 1/2-Year High
Home values rose for the 15th consecutive month in January, according to Zillow's most recent Real Estate Market Reports.
Read More »Conference Board: Economic Indicators Looking Up
Both leading economic indicators and lagging economic indicators for the U.S. economy rose in January, according to the Conference Board.
Read More »Illinois Sees Gains in Prices, Sales in January
The steady housing improvement seen in Illinois throughout 2012 is poised to continue in 2013, if January's numbers are anything to go on. According to the Illinois Association of Realtors, statewide home sales (including single-family homes and condominiums) totaled 8,502 in January, up 31.1 percent from 6,484 in January 2012.
Read More »Florida Housing Market Beats Winter Chill
Florida's housing market continued its upswing into the new year, according to the latest housing data released by Florida Realtors. Statewide closed sales of existing single-family homes totaled 13,679 in January, up 11.7 percent year-over-year, the group reported. Meanwhile, pending sales--contracts signed but not yet completed or closed--for existing single-family homes rose 31 percent.
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