Overdue Mortgages Number 6,082,000
Published on Feb 21, 2012
New data from Lender Processing Services (LPS) shows that as of the end of January, there were 6,082,000 mortgages in the U.S. going unpaid. That tally includes loans that are 30 or more days delinquent and loans in foreclosure. The national delinquency rate as of January month-end was 7.97 percent. Delinquencies registered a decline, both for the [...]
Moderate Growth Projected for 2012
Published on Feb 21, 2012
Moderate Growth Projected for the Year Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report. Economic growth is projected to be at 2.3 percent for 2012, an increase compared to 1.6 percent last year, according to the report. For the first time in seven years, t [...]
Plans to Involve Private Investors Lessen Role of Fannie and Freddie
Published on Feb 21, 2012
The Federal Housing Finance Agency (FHFA) released a three-part goal Tuesday to phase out the dominant role of Fannie Mae and Freddie Mac and allow for more private investors into the mortgage industry. The first part of the goal involves building a new infrastructure to enable the private sector to participate in the secondary market. The second g [...]
Ohio Spends $75M to Demolish Neighborhood Blight
Published on Feb 21, 2012
Ohio Attorney General Mike DeWine will use a portion of Ohio's $335 million reward from the recent national settlement with the nation's largest servicers for property demolition. Of the $97 million designated to foreclosure avoidance and neighborhood stabilization, about $75 million is being directed to a grant program focused on the destruction o [...]
Originations: Looking Beyond Fannie & Freddie
Published on Feb 21, 2012
Today's must-read mortgage & housing linksRead The Full Article
Greece ? Opaque Economy Makes Debt/GDP Targets Useless
Published on Feb 21, 2012
Has the IMF learned nothing from the subprime mortgage bust? Read The Full Article
Bank and Non-Profit Unite to Provide Homes to Service Members
Published on Feb 21, 2012
Operation Homefront, a non-profit which assists military members, partnered with Chase to place at least 100 Wounded Warriors, military, and veteran families into permanent residences this year through the Homes on the Homefront program. Chase is providing the homes, and Operation Homefront will provide ongoing transitional services to the familie [...]
Latest Projections for HARP 2 Underwater Refi Program
Published on Feb 21, 2012
Some positive and negative outlooks for HARP 2, a refi program for underwater homeowners.Read The Full Article
