Keyword: housing
The REO problem is worse than you think
How REOs are killing the market This week an asset manager contacted me to get pre-listing information on a house about to be foreclosed on. Brokers who do REO work know the drill: check occupancy status, secure the property (change locks), and tell the bank what you think the house is worth if priced for a quick, AS IS sale ...
Obama housing plan helps its one millionth homeowner
Housing plan helps one million The U.S. Treasury Department reported today that since the Obama administration launched their foreclosure prevention program in 2009, nearly one million homeowners have been given permanent modifications to their mortgages, reducing their monthly payments. The housing plan gives mortgage servicers incentives to modify mortgage loans by cutting interest rates, deferring a portion of the loan ...
S&P sued by Illinois AG for allegedly fraudulent ratings
S&P’s allegedly fraudulent ratings Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor’s (S&P), alleging fraudulent role in assigning its highest ratings to risky mortgage-backed investments on behalf of its clients and investors in the years leading up to the housing market crash. The State is alleging that S&P “compromised its independence as a ratings agency ...
New 2012 AGBeat media kit available now
- We know you want the most sophisticated audience, and here it is!
Fannie, Freddie principle reductions would cost taxpayers another $100B
The FHFA stands firm The Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac told lawmakers in a letter today that forcing the two to write down the principle on underwater home loans would require more than $100 billion in new taxpayer funds. With one in five homes in America underwater, negative equity now totals over ...
Midwest Real Estate Data leaders cautiously optimistic about 2012
Exercising caution Forecasting and predictions from the National Association of Realtors for 2012, predicting a very small rate of improvement for the year, especially regarding home prices and sales as they are so intertwined with the health of employment levels in America. A new report from the Midwest Real Estate Data’s Board of Managers forecasts similarly, putting forward a cautiously ...
Report strongly criticizes housing finance oversight
Firey inspector general report The inspector general for the Federal Housing Finance Agency released a report this week that is highly critical of the U.S. Federal Home Loan Bank system, consisting of 12 banks whose primary mission is to support housing finance, saying the banks did not effectively monitor risks. The report says the FHFA has not been aggressive enough ...
Chase CEO says housing is at or near the bottom
Economic outlook Known for being direct and often blunt, JPMorgan Chase CEO, Jamie Dimon told CNBC that he believes housing is now “at or near the bottom,” and that contraction in the mortgage division is not expected. Dimon gives a hopeful outlook for the future, noting that companies are doing okay and they want to expand and grow and while ...
Why the sudden population retraction in Santa Ana, California?
A sudden population retraction In Santa Ana in Orange County, California, retail is down, stores are closing, enrollment is down ten percent in Santa Ana Unified School District, foreclosures are rising and a population is leaving. How is this happening? There is a dramatic change in the movement of people between the OC and Mexico and both legal and illegal ...
Could private sector risk sharing save the housing market?
Potential change of plans The Obama Administration has struggled with how to address the mortgage crisis and this month, we reported that leading House Democrats are suggesting that the FHFA (which regulates Fannie Mae and Freddie Mac) Edward DeMarco step down because they are “infuriated” that during his recent briefing of 17 House Democrats, he revealed that the FHFA doesn’t ...
FDIC, NAHB, Bankers struggling to find the same page [Report]
![FDIC, NAHB, Bankers struggling to find the same page [Report]](http://agbeat.wpengine.netdna-cdn.com/wp-content/uploads/2011/02/abandoned-150x150.jpg)
According to the U.S. Department of Commerce, sales of existing new homes were in the tank in January, down 12.6 percent. The dip coming after improved sales in December on the heels of an expiring tax credit in California. Although weather is partially to blame according to Bob Nielsen, chairman of the National Association of Home Builders (NAHB), he remains ...
Tax credit dying, let’s celebrate the good news [OPINION]
![Tax credit dying, let’s celebrate the good news [OPINION]](http://agbeat.wpengine.netdna-cdn.com/wp-content/uploads/2010/04/Fireworks_Preview-2-150x150.jpg)
Stop crying already! Yes (for the umpteenth time), the $8,000 tax credit is ending this week and it’s a blessing sent from above. Why do I say this? Not just because the country has been hanging from the teet of the federal government since the great crash, but because it has allowed the lending world to become dependent and outside ...
Examining the evolution of the American household
The evolving household: The infographic below is an interesting study of the evolution of the American household. The average new home size has changed from 983 sf in the 1950s to 2,349 sf in the 2000s and the household income has more than doubled in dollar amount in the same time. That said, median income of $23,738 in 1950 is ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
