RealtyTrac: High-end Foreclosures Up 61 Percent

  • By dave
  • 12 December, 2013
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U.S. foreclosure activity is down 23 percent year-to-date through October, but foreclosure activity on properties valued at $5 million or higher rose 61 percent from the same period in 2012, analytics firm RealtyTrac announced Dec. 3. Continue Reading →


Global Banks Fined for Interest Rate Manipulation

  • By dave
  • 12 December, 2013
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The European Commission has fined several major global banks $2.3 billion for their collusion in manipulating key European and Japanese benchmark interest rates that affect many loan types, including mortgages, The Associated Press reported Dec. 4. Continue Reading →


Fannie Mae Addresses Appraisal Quality, UCDP Notification

  • By dave
  • 12 December, 2013
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Fannie Mae addressed appraisal quality, appraiser selection requirements, data quality issues and new processes to identify and monitor individual appraisers in a Dec. 10 letter to lenders. Fannie also issued new messaging to support its appraiser moni… Continue Reading →


Mortgage Rates Up Significantly

  • By dave
  • 12 December, 2013
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Fixed mortgage rates experienced a significant increase during the past week, Freddie Mac reported Dec. 5 in its weekly Primary Mortgage Market Survey. The 30-year fixed-rate jumped 0.17 percent to 4.46 percent while the 15-year fixed-rate also increas… Continue Reading →


Housing Market Expected to Cool in 2014

  • By dave
  • 12 December, 2013
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The nation’s real estate market is expected to cool as the year ends, and the gains that homeowners have seen in median list price per square foot are on a path to level off in 2014, according to the December State of the Market report released Dec. 2 by real estate brokerage firm Movoto. Continue Reading →


Banks to Continue Offering Nonconforming Mortgages

  • By dave
  • 12 December, 2013
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Several banks said they expect to continue offering nonconforming loans despite the Consumer Financial Protection Bureau’s creation of a qualified mortgage rule that takes effect in January, The Wall Street Journal reported Dec. 2. Continue Reading →


Senate Confirms Mel Watt to Head FHFA

  • By dave
  • 12 December, 2013
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The Senate on Dec. 10 confirmed the nomination of Mel Watt to lead the Federal Housing Finance Agency, HousingWIre reported. Rep. Watt, D-N.C., will replace Ed DeMarco, who has served as acting director of the FHFA since the government-sponsored enterp… Continue Reading →


Conservation Valuation Experts Discuss Alternatives at AI Forum

  • By dave
  • 12 December, 2013
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Participants in the Appraisal Institute’s Dec. 8 stakeholders forum in Washington, D.C, assessed alternatives to the current tax processes involving donations of conservation easements. The Appraisal Institute sponsored the one-day event, which addressed a variety of conservation valuation issues. Continue Reading →


Housing Continues Slow Climb Back to Normal

  • By dave
  • 12 December, 2013
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Housing markets in 54 of approximately 350 metro areas tracked by the National Association of Home Builders/First American Leading Markets Index have returned to — or even exceeded — normal levels of housing activity through November, NAHB reported Dec. 5. Continue Reading →


Justice Department Promises More Mortgage Fraud Suits in 2014

  • By dave
  • 12 December, 2013
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The U.S. Department of Justice said it would file several more lawsuits alleging mortgage fraud against financial institutions in 2014, Reuters reported Dec. 4. U.S. Attorney General Eric Holder told Reuters that his agency would use the case against J… Continue Reading →