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Stalled $26 billion civil mortgage settlement now finalized

Tara Steele — Thu, 09 Feb 2012 18:22:48 +0000

Mortgage foreclosure settlement In a historic deal after repeated delays and over a year of negotiations, the Justice Department, U.S. Department of Housing and Urban Development, and 49 state attorneys general has finalized a $26 billion civil settlement with five of the largest mortgage lenders for wrongful foreclosures through robo-signing wherein homes were foreclosed upon without human review or proper [...]

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Completed foreclosures drop 24% over the year

Tara Steele — Thu, 09 Feb 2012 08:10:26 +0000

A shift in foreclosures CoreLogic released its first national Foreclosure Report which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates, reporting that completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. CoreLogic notes that since September 2008, there have been approximately 3.2 million completed foreclosures. Completed foreclosures fell from November (57,000) [...]

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Canadian MLS launches Home Price Index

AGBeat — Thu, 09 Feb 2012 07:54:45 +0000

Canadian MLS Home Price Index Canadian home buyers, sellers and Realtors are now being served by the newly launched Canadian Multiple Listing Service (MLS) Home Price Index (HPI) across Montreal, Toronto, Calgary, Vancouver and the Fraser Valley. Although Fraser Valley and Greater Vancouver have had an HPI in place since the mid-1990s, this is the first HPI available for the [...]

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Several states hold out, one leaves $25B mortgage settlement talks

Tara Steele — Wed, 08 Feb 2012 06:42:11 +0000

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 [...]

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New York startup aims to save renters money

Tara Steele — Sun, 05 Feb 2012 17:53:47 +0000

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 [...]

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Home prices fall for fifth consecutive month

Tara Steele — Thu, 02 Feb 2012 17:28:25 +0000

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

Tara Steele — Thu, 02 Feb 2012 15:28:53 +0000

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 [...]

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Top 10 most expensive rental homes in America

AGBeat — Wed, 01 Feb 2012 17:21:30 +0000

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 [...]

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FHFA begins registering investors to turn vacant foreclosures into rentals

Tara Steele — Wed, 01 Feb 2012 14:00:24 +0000

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 [...]

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Stalled $25B civil settlement with lenders may conclude this week

Tara Steele — Tue, 31 Jan 2012 01:24:39 +0000

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 [...]

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