Housing Market Report

(MATERIALS) Defective Chinese Drywall Problems Spreading

hmr@cdpublications.com (HMR Editor) — Mon, 13 Jul 2009 18:29:00 EST

Problems with imported drywall, which became popular among homebuilders desperate to obtain construction materials during the housing boom, could pose headaches for builders throughout the nation, especially those in the Southeast.

(LOAN MODIFICATIONS) Dodd, Dems Want Answers from Treasury on Slow Mitigation Activity

hmr@cdpublications.com (HMR Editor) — Mon, 13 Jul 2009 18:18:00 EST

A group led by Sens. Christopher Dodd (D-CT) and Jack Reed (D-RI) appears worried the Obama administration�s efforts to help homeowners and jump-start the housing sector could flounder like those ...

(HOUSING OUTLOOK PANEL) Climate Change Legislation Weighs Heavy on Experts' Minds

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:59:00 EST

HMR's exclusive Housing Outlook Panel for July believes the American Clean Energy & Security Act, if passed, carries potential for significant long-term impact on the industry, both positive and negative.

(REVERSE MORTGAGES) GAO: HECM's Still Face Oversight, Marketing Issues

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:58:00 EST

The Government Accountability Office finds substantial risk remains for consumers in the reverse mortgage market because of poor federal oversight of counseling and deceptive marketing campaigns.

(ARRA) Realtors' Survey Renews Homebuyer Tax Credit Fight

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:54:00 EST

Problems raising cash for downpayments and closing costs continue to stand in the way of homeownership and sales gains, says a new study. The findings are the latest ammunition in the fight to extend provisions of the first-time homebuyer tax credit.

(SETTLEMENTS) Beazer Settles with HUD, State Commission

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:53:00 EST

Beazer Homes USA settles with HUD and the North Carolina Real Estate Commission over allegations of improper mortgage lending activity. And it could cost the Atlanta-based homebuilder more than $50 million in cash.

(APPLICATIONS) Government Mortgage Loan Aps at Two-Decade High

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:51:00 EST

Applications for government-insured loans through the Federal Housing Administration (FHA) and Veterans Affairs (VA) programs reach their highest point since 1990.

(RATES) Employment Worries Trigger Rate Dip

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:50:00 EST

Increasing unemployment concerns send mortgage interest rates lower this week.

(TARP) Mortgage Relief, Purchase Loans Among Plans To Spend TARP Dividends

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:46:00 EST

Nearly $7 billion in dividends from the federal government's investment in the bank bailout of late 2008 will be spent on housing for the poor rather than to pay down the national debt if a block of House Democrats have their way.

(HOUSING COUNSELING) Counseling Opportunities Scored

hmr@cdpublications.com (HMR Editor) — Fri, 10 Jul 2009 09:45:00 EST

A survey of HUD housing counseling agencies in Illinois by the Woodstock Institute and Housing Action Illinois shows gaps in the department's supervision of counseling to homeowners on the brink of foreclosure, particularly in three counties including Cook County (Chicago).

(REO's) CA Company Launching REO Certification

hmr@cdpublications.com (HMR Editor) — Thu, 09 Jul 2009 17:11:00 EST

Short-sales and REO (Real Estate Owned) transactions continue to emerge as a force in the housing market. Now, a California outfit with experience in the REO market is preparing the full launch of a certification program.

(FINANCE REFORM) Coalition to Assert Main Street Views on Regulatory Overhaul

hmr@cdpublications.com (HMR Editor) — Thu, 09 Jul 2009 15:28:00 EST

The newly formed Americans for Financial Reform (AFR), is starting a push to advocate for "Main Street" within the ongoing financial regulatory overhaul.

(APPLICATIONS) Mortgage Activity Shows Something of a Rebound, Thanks to Re-Fi Demand

hmr@cdpublications.com (HMR Editor) — Thu, 09 Jul 2009 14:29:00 EST

Weekly statistics tracking mortgage demand show a double-digit increase for the period ending July 3.

(FAIR HOUSING) Judge Allows Lawsuit against Wells Fargo to Advance

hmr@cdpublications.com (HMR Editor) — Thu, 09 Jul 2009 12:36:00 EST

Efforts by Wells Fargo to end a lawsuit alleging racial discrimination in its business practices within Baltimore have failed, and another hearing for the case is set for July 20.

Housing Outlook Panel Chart

hmr@cdpublications.com (HMR Editor) — Mon, 06 Jul 2009 10:27:00 EST

Click here for our exclusive Housing Outlook Panel chart for July.

(GREEN BUILDING) Homebuilders Rally against Clean Energy Legislation

hmr@cdpublications.com (HMR Editor) — Thu, 02 Jul 2009 16:46:00 EST

Despite its own pronounced movement toward green building, the National Association of Home Builders is the latest opponent to ambitious climate control legislation generating debate on Capitol Hill.

(MAKING HOME AFFORDABLE) Key Obama Housing Effort Gets Expanded

hmr@cdpublications.com (HMR Editor) — Thu, 02 Jul 2009 16:12:00 EST

The "Making Home Affordable" refinance program supported by the Obama administration gets a fresh boost in the form of relaxed eligibility standards.

(TAX CREDITS) States Awarded $1 Billion in HUD TCAP Funds

hmr@cdpublications.com (HMR Editor) — Thu, 02 Jul 2009 14:02:00 EST

HUD approves plans to produce thousands of affordable housing units by 26 state housing agencies using a tax credit mechanism created in the most recent economic stimulus package.

(STRATEGIES) KB Home Pushing Forward With Smaller Homes

hmr@cdpublications.com (HMR Editor) — Wed, 01 Jul 2009 17:21:00 EST

KB Home appears to be positioning itself to become one of the nation's strongest publicly-traded homebuilder, thanks to plenty of on-hand capital and an innovative new product line.

(APPLICATIONS) Mortgage Activity Swings to Decrease

hmr@cdpublications.com (HMR Editor) — Wed, 01 Jul 2009 16:50:00 EST

Volatility is apparent in weekly statistics tracking mortgage demand, as applications fall sharply for the week ending June 26.