Homes in the Las Vegas area sold at the fastest pace for an April in seven years due, in large, to investor and cash buying...
Lender Flagstar Bancorp is reportedly considering the sale of $70 billion in mortgage servicing rights. Bloomberg reported on...
Deleveraging continued in April as homeowners' financing balances shrunk 29% to $71.5 billion from $100.7 billion in the year-ago month, according to analytics firm Equifax ($61.60 -0.85%).
Home finance levels are at their lowest since 2008 when they totaled $74.7 billion.
In April, home equity revolving balances neared $560 billion, down $115 billion from April 2009, and down $43.8 billion from April 2011, Equifax reported.
Foreclosures in-process for home equity revolving credit in the month dropped 37% from same time a year ago. At just under $1.25 billion, it is the lowest in two years, the firm said.
— Justin T. Hilley
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