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KB Home to pay at least $23.5M in settlement with Florida over building violations

'Allegedly failed to make certain disclosures to homebuyers'
After a three-year investigation of KB Home for violations of the Florida Deceptive and Unfair Trade Practices Act, KB Home and its Florida subsidiaries reached a multi-million dollar settlement with the Florida Attorney General’s Office. Click the headline to read more.
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Realtors: Florida housing set to get 2016 boost

The numbers from 2015 showed home sales and listings healthy
The Florida housing market for 2015 increased by 12.4% from 2014 in single-family home sales. Year-over-year growth in 2015's final quarter was more subdued, signaling a possible return in 2016 to more stable rates of sales growth.
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MBA: New home purchases soared in January

Estimate surpassed expectations
Even though new home purchases dropped 6% in December, for the month of January the Mortgage Bankers Association’s Builder Application Survey shows mortgage applications for new home purchases, increased by 14%.
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These are the top 5 most vacant cities in the U.S.

Not quite ghost towns, yet
The housing market continues to recover from the recent financial crisis. For the month of February, a recent RealtyTrac report shows that vacancy and “zombie foreclosures” are down 4% from a year ago nationwide. However, there are still some minority markets where its increasing.
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Redwood Trust shifts away from Fannie, Freddie conforming loans

Ending purchases of GSE loans; also ceases commercial loan originations for CMBS
Seeking to rid itself of two business segments that are dragging on the REIT’s bottom line, Redwood Trust announced recently that it will be discontinuing the acquisition and aggregation of conforming loans for sale to Fannie Mae and Freddie Mac, and will also discontinue commercial loan originations for distribution in commercial mortgage-backed securities.
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Morgan Stanley settles for $3.2 billion over 'deceptive' mortgage bond practices

Internal e-mail: We are running under the radar and do not want to document this
Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday.
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Survey: 45% of non-homeowners say finances keep them from buying

Nearly 30% say they can’t afford a down payment
Nearly half of all non-homeowners say that their financial situation is preventing them from buying a home, a new report from Bankrate.com showed. According to Bankrate’s survey, nearly 30% of all non-homeowners say that they can’t afford a down payment, despite only needing to save 3%.
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