Real Estate Industry News

New Rule Proposed to Protect Seniors Obtaining Reverse Mortgages

Dennis Norman — Fri, 03 Sep 2010 15:44:30 +0000

Dennis Norman

Reverse mortgages have become increasingly popular over the past few years with seniors that find themselves with a large amount of equity in their home, but short on cash, or struggling to pay for the upkeep of the home, property taxes, insurance or other living expenses. A reverse mortgage allows people

Continue reading... New Rule Proposed to Protect Seniors Obtaining Reverse Mortgages

HUD Announces Plans to Make Reverse Mortgages More Affordable Dennis Norman The Federal Housing Administration (FHA) announced this week...
New Rules Announced to Protect Mortgage Borrowers Dennis Norman Over the past couple of years lawsuits have...
New Rules for Mortgage Transfers Dennis Norman Home mortgages are often sold or assigned, sometimes...

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Foreclosures in July are 4th highest on record; delinquencies continue to decline

Dennis Norman — Thu, 02 Sep 2010 20:38:17 +0000

Dennis Norman

A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of July 2010 shows that mortgage delinquencies continue to decline however are still at very high levels versus historical norms. At the same time however, foreclosure starts have increased to the fourth highest level on record.

Continue reading... Foreclosures in July are 4th highest on record; delinquencies continue to decline

Mortgage delinquencies set new record in third quarter Unemployment Remains Main Cause of Delinquencies The second quarter of...
Mortgage Delinquencies Fall in 1st Quarter; First Decline Since 2006 Dennis Norman Consistent with the report on mortgage delinquencies from...
Foreclosure and Mortgage Delinquency Rates Stabilizing Dennis Norman A report published by Lender Processing Services (LPS)...

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Pending home sales rise in July; Down 19 percent from the year before

Dennis Norman — Thu, 02 Sep 2010 15:25:54 +0000

Dennis Norman

After hitting all-time low in June, pending home sales increase 5.2 percent in July

The National Association of REALTORS Pending Home Sales Index for July shows an increase of 5.2 percent in the index in July (seasonally adjusted) which is 19.1 percent below July 2009.

Here are highlights from the report:

July’s pending home sales

Continue reading... Pending home sales rise in July; Down 19 percent from the year before

Pending Home Sales Continue On The Rise In March Dennis Norman Today the National Association of REALTORS released...
Pending home sales rise for eighth consecutive month Lawrence Yun, Chief Economist, NAR Today the National Association of...
Pending Home Sales Hit a new Record-Low in June Dennis Norman NAR Pending Home Sales Index at Lowest...

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Mortgage Interest Rates Hit New Lows This Week; Refinancing Hits 15 Month High

Dennis Norman — Wed, 01 Sep 2010 13:01:51 +0000

Dennis Norman

Interest rates dropped to new record lows this past week bring out existing homeowners to refinance their existing mortgages and even bringing out some homebuyers.

According to the Mortgage Bankers Association (MBA) weekly mortgage applications survey for the week ending August 27, 2010, the MBA Purchase Index (a measure of the

Continue reading... Mortgage Interest Rates Hit New Lows This Week; Refinancing Hits 15 Month High

Record-Low Interest Rates Spur Refinancing; Home Purchase Mortgage Applications Increase Slightly Dennis Norman Last week I said that in my real...
Home Mortgage Applications Last Week Drop; Interest Rates Declined Slightly Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
Home Purchase Mortgage Applications Last Week Plummet; Interest Rates Decrease Slightly Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...

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Dueling Economists: Home Prices Up or Down?

Dennis Norman — Tue, 31 Aug 2010 15:32:48 +0000

Dennis Norman

Naturally, no sooner than I finish writing my post this morning about the Case-Shiller report on home prices in which I actually got to report somewhat “positive” news, my bubble is burst. RadarLogic, another company that has their own home price index that I like, came out with a report saying the

Continue reading... Dueling Economists: Home Prices Up or Down?

Home prices finally leveling off Dennis Norman This morning the S&P/Case-Shiller Index report for August...
US Home Prices show modest 0.3 percent increase from June to July according to Federal Housing Finance Agency Dennis Norman By: Dennis Norman Today the Federal Housing...
US home prices increase 3.1 percent in 3rd quarter; down 8.9 percent from a year ago Dennis Norman This morning the S&P/Case-Shiller Index report for September...

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Report shows home prices up modestly over last year

Dennis Norman — Tue, 31 Aug 2010 14:57:21 +0000

Dennis Norman

This morning S&P/Case-Shiller Index report for the 2nd quarter of 2010 was released showing that the home prices improved slightly over a year ago in 17 of the 20 Metro Area’s their reports cover.

The Case-Shiller Home Prices Indices showed an increase of 4.4 percent in home prices in 2nd quarter after a decline

Continue reading... Report shows home prices up modestly over last year

US home prices increase 3.1 percent in 3rd quarter; down 8.9 percent from a year ago Dennis Norman This morning the S&P/Case-Shiller Index report for September...
Case-Shiller Report Has Some Good News On Housing Market; Not Out of The Woods Yet Though Dennis Norman This morning the S&P/Case-Shiller Index report for February...
Home Prices In Most Metro Areas Improved in April But Do Not Show Signs of a Sustained Recovery Dennis Norman This morning S&P/Case-Shiller Index report for April was...

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Homelessness in America

Dennis Norman — Mon, 30 Aug 2010 15:32:15 +0000

Dennis Norman

While many us have been worrying about what is happening to the value of our homes, how to deal with being underwater on a mortgage or even facing the loss of a home, there are many people, families included, in the U.S. whose worry is much more basic….where to find safe shelter for

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Bank of America to do HAMP Second-Lien Modification Program Dennis Norman Bank of America announced that it is the...

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HUD Announces Plans to Make Reverse Mortgages More Affordable

Dennis Norman — Sat, 28 Aug 2010 13:51:55 +0000

Dennis Norman

The Federal Housing Administration (FHA) announced this week that it intends to make modifications to its Home Equity Conversion Mortgage (HECM), a reverse mortgage loan insured by the federal government, to make it more attractive and cost effective for older home owners seeking to tap their home equity.

A HECM

Continue reading... HUD Announces Plans to Make Reverse Mortgages More Affordable

The Latest Data on the Home Affordable Modification Program Ted Gayer, Co-Director of Economic Studies, Brookings Institute The U.S....
FHA Tightens Standards Dennis Norman FHA Announces Policy Changes to Address Risk and...
FHA Offers Alternative For Underwater Homeowners Dennis Norman Last week HUD announced changes to FHA home...

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New Rules for Mortgage Transfers

Dennis Norman — Fri, 27 Aug 2010 10:26:32 +0000

Dennis Norman

Home mortgages are often sold or assigned, sometimes even right after the origination of the loan and, as a result, borrowers find themselves not knowing who their current lender is or how to contact their lender. This issue was addressed back in May 2009, as part of the Helping Families Save Their

Continue reading... New Rules for Mortgage Transfers

New Rules Announced to Protect Mortgage Borrowers Dennis Norman Over the past couple of years lawsuits have...
HUD Publishes New FAQs on new RESPA rules Dennis Norman By: Dennis Norman New RESPA rules go into...
Mortgage Interest Rates Remain Low But Borrowers Face More Hurdles After the problems we have seen over the past couple...

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Homeowners with negative equity declines for second consecutive quarter

Dennis Norman — Thu, 26 Aug 2010 15:29:41 +0000

Dennis Norman

After a couple of days of writing about bad reports on the housing market (existing home sales and new home sales to name two) I’m excited that I actually get to write something today that is positive! According to newly released data from CoreLogic, the percentage of homeowners in the U.S. with

Continue reading... Homeowners with negative equity declines for second consecutive quarter

U.S. Home Values Fall In 2nd Quarter; Negative Equity Declines Though Dennis Norman A report just issued by Zillow shows that...
Slight Decline In Number of Underwater Homeowners Dennis Norman According to a report released by CoreLogic, there...
Almost 11 million homeowners are underwater on their mortgage Average value of home with “underwater” mortgage $210,300 – Average...

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