The Federal Reserve Bank of New York said Tuesday that outstanding household debt increased $117 billion from the third quarter of last year to the fourth, putting total indebtedness at about $11.8 trillion as of the end of 2014. Balances went up across most categories, led by a $39 billion increase in mortgage debt to a total of $8.2 trillion.
Read More »Report: DOJ May Charge Individuals for Roles in Mortgage Meltdown
Attorney General Eric Holder has given U.S. attorneys across the country 90 days to judge whether or not they want to bring cases against specific individuals for their alleged roles in 2008's mortgage crisis, according to reports.
Read More »RedVision Celebrates Huge Growth in Abstracting Coverage
As of early 2015, New Jersey-based RedVision says it now performs in-house searches covering 76 percent of the U.S. population, with that number projected to reach 90 percent by year-end.
Read More »Home Prices Edge Up 0.1% in December
The latest price index from FNC Inc. shows the nation's average home price moved up 0.1 percent in December, turning around after a 0.1 percent decline in October and no notable change in November. Home prices fell 0.2 percent through 2014's fourth quarter compared to the third, putting annual growth at about 5 percent compared to 5.2 percent in November and 5.7 percent in October.
Read More »Homebuilder Sentiment Cools in February
The National Association of Home Builders (NAHB)/Wells Fargo builder sentiment index fell two points in the association's February reading, coming in at 55 for the month, the group said Tuesday. NAHB Chairman Tom Woods said February's slight decline is "largely attributable to the unusually high snow levels across much of the nation."
Read More »House Flipping Remains Preferred Strategy Among Investors
Even as the demand for rental housing has increased in most markets, investors continue to prefer to flip houses due to a recent combination of price appreciation and decreased inventory, according to Auction.com.
Read More »Study: One in Three FHA Borrowers Could Save Money Refinancing
More than one in three homeowners with mortgages backed by the Federal Housing Administration (FHA) could stand to save money by refinancing now that the agency has lowered its annual mortgage insurance premium, according to a study released by the Urban Institute (UI).
Read More »Economists Brighten Up on Labor, Housing
"It's got to be positive for housing, because all your consumer numbers are going in the same direction," said John Silvia, managing director and chief economist with Wells Fargo, who was one of the 39 panelists to participate in the survey. "With more jobs, higher wages, and income growth, you always see an increase in consumer confidence."
Read More »Atlanta Bank Shuts Down in 2015’s Third Closing
Georgia's Department of Banking and Finance took possession of Capitol City Bank & Trust Company on Friday, citing the bank's "unsound condition" as a result of losses on real estate loans. Despite receiving help to shore up its capital, it was unable to recover following the financial crash.
Read More »LenderLive Names SVP of Operations for Settlement Services
LenderLive Network's Settlement Services division has gained a new leader, with longtime mortgage veteran Joe Chappell joining as SVP of operations.
Read More »