REO Sales – Fannie Takes Bigger Grip Over them. Fannie Mae announced that it will no longer be using third-party management vendors and sales teams to help manage its REO properties. The mortgage giant will now be handling the management of its REO inventories through its in-house staff. “We have reduced our REO inventory from 162,489 …
Tag: News
Sep 19
Foreclosures Continue to Fall From Last Year’s Levels
Foreclosures Continue to Fall From Last Year’s Levels Foreclosures are down 13 percent from a year ago when they had reached a 17-month high, RealtyTrac reports. Foreclosures include default notices or scheduled foreclosure auctions. Many experts had been predicting a foreclosure wave to occur this summer with foreclosures reaching elevated levels. But the “wave” has …
Sep 18
Strategic Defaulters targeted by ‘Mortgage Cops’
Strategic Defaulters targeted by ‘Mortgage Cops’. The Office of the Inspector General at the Federal Housing Finance Agency is trying to find strategic defaulters and collect on what they still owe. Strategic defaulters are often underwater home owners who walk away from their mortgages even though they still have the means to pay. Experian has …
Sep 17
Fed Moves to Keep Mortgage Rates Low
Fed Moves to Keep Rates Low. The Federal Reserve announced Thursday that, in an effort to re-ignite economic recovery, it was taking aim at mortgage rates — a move that will likely take rates even lower from their current record lows. The Federal Reserve announced it will purchase $40 billion of mortgage-backed securities that will …
Sep 13
Undeveloped Land in High Demand
Undeveloped Land in High Demand. Investors have a new target in real estate: undeveloped land. They’re snatching up undeveloped land heavily discounted in bankruptcy proceedings from developers and banks that foreclosed on the builders once they ran out of money for their projects, Reuters reports. The investors then resell the land for up to 20 …
Sep 13
Back-to-School Mentality Drives Housing for Fall
Back-to-School Mentality Drives Housing for Fall. Forty percent of real estate agents and brokers say the end of vacation season will likely bring a refocus on real estate and a primary driver behind fall home sales, according to a recent survey. ERA Real Estate has dubbed it the “ back-to-school mentality” for the real estate …
Sep 12
Home prices have Progressed, But Have they Recovered?
Home prices have Progressed, But Have they Recovered? Home prices have posted some of their strongest gains this year in nearly six years. But while prices have likely hit bottom, the public shouldn’t confuse that with a full recovery. A lot more still has to happen to get to that point, analysts say. For one, …
Sep 10
Smaller Banks Now Under Fire for Foreclosure Abuses
Smaller Banks Now Under Fire for Foreclosure Abuses. After a landmark mortgage settlement against the nation’s largest banks earlier this year, the U.S. state attorneys general are now investigating smaller banks for alleged foreclosure mishandlings. The U.S. state attorneys general are reportedly targeting U.S. Bancorp, PNC Financial Services Group Inc., SunTrust Banks Inc., and HSBC …
Sep 10
Homes Are Selling Faster
Homes Are Selling Faster. Sales are quickening their pace as the time to sell a home decreases and falls more in line with a “balanced” housing market, according to new research by the National Association of REALTORS®. The median time a home listed for sale was on the market in July was 69 days, down …
Sep 06
Housing Indexes Point to Pricing Rebound
Housing Indexes Point to Pricing Rebound. Several housing indicators in recent months are all revealing a similar trend: Home prices are rising in most markets across the country. The latest housing index from CoreLogic, based on July multiple listing service data, shows national home prices are up 3.8 percent from a year ago in July. …
Sep 06
Banks Open to Short Sales
Banks Open to Short Sales. To meet the terms of the $26 billion mortgage settlement, the nation’s five largest banks are becoming more agreeable to short sales, Inman News reports. The five banks — Bank of America, Citi, JPMorgan Chase, Ally Financial, and Wells Fargo — have issued most of their relief from the settlement …
Sep 05
Buyer Pet Peeves When Touring Homes
Buyer Pet Peeves When Touring Homes. What makes home buyers grimace when they tour a home for-sale? Don’t let one of your listings fall prey to one of these common buyer pet peeves. A recent article at Zillow highlights some of the following turn-offs: Pets: Dirty kitty litter boxes or dog toys scattered in a …
