WASHINGTON — Are large numbers of homeowners who have negotiated short sales with lenders at risk because of a startling omission in the American credit system? Do their credit reports and scores indicate that they were foreclosed upon, rather than having negotiated a mutually agreeable resolution with their lender?
The answer appears to be yes, and [...]
Posts tagged Real Estate
Large number of short sales leave home sellers short
Wells, Citi Halt Most Foreclosure Sales Amid OCC Review
Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency.
Article source: Broker Universe REO
FHA Streamline Refinance Program Helping Indiana Homeowners Reduce …
Larry Penilla
Indiana Mortgage ExpertAM Mortgage Group219-794-0600Email
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Article source: Google Streamline Refinance RSS
House Rejects CFPB Testimony on Qualified Mortgage Rule
Members of a
House Financial Services subcommittee issued a press release Tuesday afternoon
which essentially dismissed testimony heard earlier in the day from two
officials of the Consumer Financial Protection Bureau (CFPB) regarding the
impact efficacy of the new Qualified Mortgage Rule.
Peter Carroll, CFPB’s Assistant Director for Mortgage Markets, and Kelly Thompson Cochran, its Assistant Director for Regulations presented [...]
Sen. Nelson slams regulators, credit bureaus for short-sale confusion
Sen. Bill Nelson wants regulators to fix a “disturbing” credit-reporting quirk that is torching the credit of people who sold their homes in short sales.
The sales, in which people sell their homes for less than they owe in loans, are often coded as foreclosures on credit reports, scarring many seeking to repair their finances with [...]
Don’t Fall for these 10 Mortgage Misconceptions
Mortgages are tricky and often hard to understand. Because most people only purchase a home every five to seven years, prospective home buyers understandably don’t spend a lot of time in the interim educating themselves about mortgages and the mortgage process.
With the real estate market picking up and mortgage rates prime for refinancing, Zillow has [...]
Distressed Property Investors Drive Housing Market Optimism
When the authors of the Home Value Forecast predicted a year ago that the U.S. real estate market was going to turn in a positive direction, they just did not think it would happen this quickly.
Article source: Broker Universe REO
Fannie Mae Strives to Improve and Shorten the Short Sale Process for …
(LoanSafe.org) – New polices established by mortgage giants Fannie Mae and Freddie Mac are aimed to expedite the short sale process.
Short sales play a major role in the real estate market as borrowers have no other way out of their property but to sell for less than the amount owed on the mortgage. The National [...]
Fannie Forecast Serves up Feast for Housing Recovery Bulls
Fannie Mae’s economic and strategic
research team today called the housing recovery “undeterred” after it
contributed 0.3 percentages points to economic growth in the first
quarter. Doug Duncan, Orawin T. Velz,
and Brian Hughes-Cromwick said this was the eighth consecutive quarter
that housing has added to growth and the company’s Economic Summary for May
said recent housing indicators point to continued [...]
Mortgage Rates: Builder Confidence Improves As Low Interest Rates Remain …
Mortgage Rates: Builder Confidence Improves As Low Interest Rates Remain Intact
By: Rosemary Rugnetta | May 15th, 2013
Builder confidence improved during May as low interest rates remain intact leading to an increase of consumer interest in new homes. The National Association of Home Builders/Wells Fargo builder confidence index rose to 44 for the first time in [...]
