A new report required by law under the Helping Families Save Their Homes Act of 2009, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, showed that the majority of loans are current, and foreclosures remain below levels recorded before the pandemic.
Read More »Mortgage Scales Tip Toward Performing
As overall first-lien mortgage performance improves with more borrowers maintaining their monthly payments, the need for other loss mitigation actions is dissipating.
Read More »Tight Credit Standards Create Up to 1.22M in ‘Lost’ Loans
Tight credit conditions have pushed as many as 1.22 million loans out of the market per year over the last few years, researchers at the Urban Institute (UI) assert in a new commentary. Admitting that their calculation method “likely ... [overstates] the impact of tighter credit,” they also calculated a scaled lower bound estimate of 273,000 “missing” first-lien purchase loans—though they maintain the "true" number is likely on the higher end.
Read More »Former First Franklin CEO to Lead WDB Funding
WDB Funding, LLC, announced the appointment of Andrew Pollock as the firm's president and CEO. Pollock brings 25 years' experience heading large-scale lending operations to his new role, where he is responsible for providing day-to-day leadership, managing operations, and executing the strategic direction of the company.
Read More »Household Net Worth Growth Slows in Second Quarter
Household net worth improved $1.3 trillion in the second quarter--half as fast as the first quarter--as real estate values grew $626.7 billion, the Federal Reserve reported Wednesday in its quarterly Flow of Funds report. But, with a drop in mortgage debt--including home equity loans and lines of credit--from $9.39 trillion in the first quarter to $9.34 billion in the second--homeowner equity grew to 49.8 percent in the second quarter from 48.1 percent in the first.
Read More »Survey Puts Spotlight on Needs of Millenial Homebuyers
The National Association of Realtors (NAR) took a look at Generation Y's browsing and purchasing habits to determine how their presence will affect the industry.
Read More »Home Equity Jumps 2.5 Percentage Points in Q1
Household net worth jumped by $3 trillion in the first quarter as real estate values grew $836 billion, the Federal Reserve reported Thursday in its quarterly Flow of Funds report. With a drop in mortgage debt, owners' equity in real estate increased a sharp 2.5 percentage points to its highest level since 2007. Owners' equity as a percentage of real estate value has been on a steady upward trajectory since dropping to 36.3 percent in the first quarter of 2009.
Read More »Survey: Non-Investors Establishing Presence in Marketplace
In March, investors accounted for 13.3 percent of the market share for non-distressed properties, while current homeowners represented 50 percent of the market.
Read More »Commercial/Multifamily Originations Rise 33% in 2012
Commercial and multifamily originations rose 33 percent to $244.2 billion in 2012, according to the Mortgage Bankers Association (MBA).
Read More »FHFA: HARP Volume for 2012 to Total 1M
According to the FHFA, the government's Home Affordable Refinance Program is on target to reach a million borrowers this year.
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