Fannie Mae’s latest National Housing Survey shows that the majority of Americans continue to expect no change in mortgage rates over the next 12 months. However, their expectations for home prices have improved for the fourth month in a row, with respondents expecting prices Continue Reading
Tip of the Week: Non-bank mortgage lenders required to report fraud
The Financial Crimes Enforcement Network (FinCEN) has finalized regulations that require non-bank residential mortgage lenders and originators to establish anti-money laundering (AML) programs and file suspicious activity reports (SARs), as FinCEN requires of other types of Continue Reading
Real Estate Watch: Fight property tax bill with these tips
By Marcie Geffner Posted: 01/26/2012 04:37:06 PM PST Declining house values create great opportunities for homeowners to contest their property tax bills and potentially save big money. Each jurisdiction has its own rules, procedures and deadlines to appeal Continue Reading
More mortgage relief from the White House – but congressional ok doubtful
In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Details of that plan were released yesterday. However, funding for the proposed program must be approved by Congress, lowering the Continue Reading
Plan to help responsible homeowners
In his State of the Union address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Key aspects of the president’s plan include: Broad-based refinancing: The president’s plan will provide borrowers who are current on Continue Reading
Investors may pre-qualify for FHFA REO initiative
The Federal Housing Finance Agency (FHFA) today announced the first step of a Real-Estate Owned (REO) Initiative targeted at the hardest-hit metropolitan areas announced in August 2011. Investors interested in participating may “pre-qualify” to establish eligibility to bid Continue Reading
Short Sale Soundoff: Few homeowners take advantage of incentive
A pilot program launched by Bank of America in Florida has drawn minimal interest from homeowners seeking short sales. The program pays up to $20,000 to homeowners who sell distressed properties in a short sale. However, as of late January, only 60 people have taken Continue Reading
Consumer confidence decreases in January
The Conference Board Consumer Confidence Index, which had increased in December, retreated in January. The Index now stands at 61.1 (1985=100), down from 64.8 in December. The Present Situation Index declined to 38.4 from 46.5. The Expectations Index edged down to 76.2 from Continue Reading
Tip of the Week: Beware the altered bank balance
When working with a client who is applying for a home loan, be on the lookout for falsified bank statements. Freddie Mac is reporting an increase in phony bank statements being submitted with loan files. By inserting a few digits, small monthly deposits can be turned into Continue Reading
A reprieve for unemployed borrowers
The New York Times Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions. Making sense of the Continue Reading
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