How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
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Items Tagged with 'Short sale'

ARTICLES

Congress must extend housing short sale tax relief

Threat of tax penalty has chilling effect on recovery
Tom Zeeb
The classification of the homeowner debt cancelled during a short sale as income allows the IRS to levy a hefty tax bill against Americans who were unable to pay their mortgage, thus burying them in further debt and making the use of the short sale transaction prohibitive.
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New Connecticut foreclosure law seeks to bypass judicial backlog

Offers short sale alternative, expedites process
Ben Lane
The bill, which was sponsored by State Representative Joe Diminico, who has been a Realtor for more than 30 years, allows property owners who are in the beginning of the foreclosure process to work directly with a broker and the mortgage holder to “speedily sell the property” and avoid the time-consuming judicial foreclosure process.
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Fannie Mae expands HomePath for Short Sales website

Ben Lane
The site’s new functionality will allow agents to contact Fannie directly earlier in the short sale process in an effort to preempt potential challenges, which the GSE says will decrease the need to escalate concerns as the short sale process progresses.
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5 brilliant insights in the CoreLogic April MarketPulse

Short sales down, short-term mortgages up, HELOCs all over
Trey Garrison
Shorter-term mortgages are on the rise, rising rates and equity may mean more HELOCs and short sales may fall of the cliff.
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California home sales continue to drop

Home price appreciation hits second year
Jacob Gaffney
Short sales made up an estimated 9.6% of the homes that resold last month. That was down from an estimated 10.9% the month before and 22.4% a year earlier.
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Minneapolis Realtors can't wait for Spring

Winter homes sales go BRRR!
Jacob Gaffney
The jury is still out on the impact of the unusually harsh winter on the housing economy. Some national statistics are noting a muted effect, with major metros brushing off the cold. Realtors in the Minneapolis/St. Paul region could not disagree more.
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From HW Magazine

A surge, now over

Once-hot short sales cool off
Kerry Curry
Distressed property sales, including short sales, accounted for 21.6% of national sales in the fall of 2013, according to a recent four-month rolling quarter report from Clear Capital — a far cry from the peak of 41% in 2011.
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Longer foreclosures squeeze investor profit

Fitch: Loss severities rise for first time in years
Jacob Gaffney
The rate at which mortgage servicers advanced missed borrower payments increased in the fourth quarter for the first time since the onset of the financial crisis, the Fitch report states.
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Foreclosures, short sales increased 1% in Dec.

Overall distressed activity subsides
Brena Swanson
Foreclosures and short sales remained relatively frozen in December, with U.S. residential properties, including single-family homes, condominiums and townhomes, selling at an estimated annual pace of 5.16 million in December, a less than 1% increase from November and a 10% increase from a year ago, the latest RealtyTrac report found.
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Minneapolis housing market finds stable footing

Fewer foreclosures, short sales reported as new listings fall
Brena Swanson
The Minneapolis-St. Paul metropolitan area saw foreclosures and short sales fall during the month of November. At the same time, new listings fell year-over-year.
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