A composite index of 25 major US metropolitan markets showed a 1.2% increase in house prices in April.
Radar Logic's 25-MSA (metropolitan statistical area) RPX index showed the largest monthly increase since June 2007. The composite remains 20% below its year-ago level, however, and overall has plunged 32% below its peak.
Foreclosure sales continued to drive price declines and fueled an increase in sale transactions in key local markets across the nation during August, according to data released Friday by Radar Logic Inc., a New York-based real estate data and analytics company.
There are motivated home sellers, and then there are motivated home sellers. In this market, that term has taken on new meaning, capturing sales made under borrower duress as well as institutional sellers looking to sell off REO properties in an effort to clear their books. And the number of motivated sellers, by most accounts, has been growing pretty dramatically, pretty much in tandem with declining property values and mushrooming foreclosure totals.
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine..
The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves. Read More
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject. Read More