Keyword: News
Several states hold out, one leaves $25B mortgage settlement talks
Settlement talks in limbo AGBeat has had a close eye on multi-state talks with the largest banks as over a year ago, all 50 states’ Attorneys Generals committed to negotiate terms on behalf of homeowners abused by banks leading up to and during the housing crash. Monday was the final deadline for all 50 states to declare whether they were ...
New York startup aims to save renters money
RentJolt enters live beta The New York City real estate scene is far different than many other markets in America, with renting being the common option and renters paying brokers out of pocket for services – it’s the wild west of real estate that operates on different rules, although all licensees that carry the Realtor brand are bound by the ...
Home prices fall for fifth consecutive month
Home prices decline in 2011 With the release of the CoreLogic Home Price Index (HPI®) report for December, a full-year picture is now available for all price changes in 2011. According to the CoreLogic, the HPI report reveals that including distressed sales, home prices in the U.S. decreased 4.7 percent in 2011 compared with December 2010. With distressed sales excluded, ...
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Mortgage application volume dips, lending remains tight
Applications decrease According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, the volume of mortgage applications dropped 2.9 percent from the week prior, on a seasonally adjusted basis and is 4.3 percent lower than the same week in 2011. The share of mortgages that are refinances has been relatively level, coming in at 80 percent this week, down ...
Top 10 most expensive rental homes in America
The ten biggest price tags 2012 is easily the year of the landlord as rental prices are on the rise and vacancy rates and days on market are on the decline. While many people are deal hunting, there are yet others who are seeking top of the line rentals – sometimes for short term use, and other times for their ...
FHFA begins registering investors to turn vacant foreclosures into rentals
FHFA pulls the trigger After an extended period of talking about selling off their massive inventory of foreclosed properties (Real Estate Owned properties, or REOs), the Federal Housing Finance Agency today announced the kickoff to their initiative to sell their inventory to investors in an effort to turn them into rental properties to serve the new generation of renters, many ...
Stalled $25B civil settlement with lenders may conclude this week
Hardworking Americans left holding the bag During President Obama’s State of the Union address, he noted that leading up to the housing collapse in 2008, regulators looked the other way. “It was wrong. It was irresponsible,” and ultimately, “innocent, hardworking Americans were left holding the bag.” On the same day, the administration announced a new task force aimed at mortgage ...
Why real estate lending will remain tight for years
Back to normal? Referring to current mortgage and commercial real estate loan delinquency rates released by the Federal Reserve, Texas Real Estate Center’s Chief Economist, Dr. Mark Dotzour said in a statement, “At the current pace of disposition, it will be many years before the real estate market credit conditions are back to ‘normal.’” Despite improved delinquency rates for loans ...
Midwest Real Estate Data announces new leadership
2012 leadership team Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 8,000 real estate offices and 40,000 real estate professionals, including brokers, agents and appraisers. Today, MRED’s Board of Managers nominates and elects a slate of officers from among their ranks to guide the company through ...
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 ...
Third party real estate listing companies, too big to fail?
Broker makes a public statement In a public declaration, San Diego-based Abbot Realty Group (ARG) President and Managing Broker, Jim Abbott released a video on YouTube explaining why their brokerage will no longer permit third party syndication sites like Trulia, Realtor.com and Zillow to syndicate their listings, but will continue to syndicate company listings to their local MLS, Sandicor. ARG’s ...
One in five homes sold in third quarter were distressed homes
Foreclosure sales data One in five homes sold in the third quarter of 2011 were distressed homes, according to the most recent data, reported today by RealtyTrac, down from 30 percent in the third quarter of 2010, and dropping 11 percent from the second quarter. The average foreclosed home sold in the third quarter took 193 days to sell, up ...
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