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  • Sources: Trump plans repeal of FHA mortgage insurance premium cut

    With President-elect Trump’s inauguration mere hours away, it appears that the Trump administration will do more than just “examine” the FHA premium cut once Trump is sworn on. According to multiple sources, the FHA premium cut, which is currently scheduled to go into effect on January 27, will be delayed, if not done away with entirely, by the incoming Trump administration.

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Institutional investors snatch up presale foreclosures

In another sign of institutional investors’ appetites for foreclosures, inventories of presale foreclosures have declined since last year as lenders have made volumes of foreclosures available via REO tapes to hedge funds.

Nationally, some 1.69 million properties are in the presale foreclosure inventories. 

Nationally some 1,689,000 properties are in the presale foreclosure inventories.

Presale foreclosures Last month presale inventories fell 0.41 percent on a monthly basis and 19.6% on a year-over-year basis, according to Lender Processing Services.

Presale foreclosures, also called preforeclosures, are properties that have yet go to auction where they are either sold to a third party or go back to the lender to become REOs.

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