Sales of second homes, otherwise known as vacation properties, slipped 30.8 percent to 512,000 units last year, down from 740,000 in 2007, the National Association… Read More »Second Home Sales Fell Sharply in 2008
Nearly a quarter-of-a-million loan workouts were carried out by foreclosure prevention alliance Hope Now last month as modifications finally accounted for more than half. Completed… Read More »Loan Modifications Exceed Repayment Plans in February
The Mortgage Bankers Association has proposed a solution to the warehouse lending shortage, which has pushed many smaller mortgage bankers to the brink despite the… Read More »MBA Looks to Save Warehouse Lending
The Hope for Homeowners program introduced by the Bush Administration and HUD last year continues to be a major flop, as evidenced by a report… Read More »Hope for Homeowners Program Has Helped Just One Borrower
Existing, single-family home sales in California increased 83 percent in February compared to the same period a year earlier, the California Association of Realtors reported… Read More »California Home Sales Jump, Median Price Plummets
More good news…for loan originators. The Mortgage Bankers Association increased its 2009 mortgage lending forecast by $800 billion to $2.78 trillion thanks to the expected… Read More »MBA Ups 2009 Mortgage Forecast by $800 Billion
A former World Savings executive, and current president of mid-Atlantic real estate company The Long & Fosters Companies, is expected to be selected today to… Read More »Former World Savings Exec Slated for FHA Helm
The Treasury today released details of the so-called Public-Private Investment Program for Legacy Assets, which aims to remove toxic assets from the books of struggling… Read More »Public-Private Investment Program Details Announced
Jumbo mortgage financing, largely a thing of the past, may be slated for a comeback, according to an LA times report. Apparently, Bank of America… Read More »Return of the Jumbo
The FDIC completed its sale of Indymac Federal Bank yesterday to OneWest Bank Group LLC, a newly formed federal savings bank headquartered in Pasadena, CA.… Read More »Indymac Federal Becomes OneWest Bank Group
