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Items Tagged with 'New York'

ARTICLES

Manhattan real estate has never been more expensive

Average sales price for an apartment hits all-time high in 2nd quarter
Ben Lane
No one has ever argued that living in New York isn’t an expensive proposition, but a new report shows just how expensive it is to live in New York’s priciest borough. According to data from Douglas Elliman, it’s never been more expensive to live in Manhattan than it is right now.
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Is a Qatari buyer about to buy the most expensive home in the U.S.?

New York apartment could boast record-shattering price tag
Ben Lane
A mystery buyer, believed to be from Qatar, could be on the verge of buying the most expensive home in the history of the U.S. Click through to read the ludicrous, potentially record-setting details.
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Abacus Federal Savings Bank found not guilty of defrauding Fannie Mae

New York bank stood accused of grand larceny, conspiracy, mortgage fraud
Ben Lane
A jury ruled that New York-based Abacus Federal Savings Bank and two of its senior officers are not guilty of defrauding Fannie Mae, bringing some closure to a case that began in 2012 and a trial that began four months ago.
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Lawsky: New York’s foreclosure system is broken

Calls for reforms in state’s foreclosure process
Ben Lane
The state of New York is still facing a massive glut of foreclosures that are choking an over-stressed system and threatening the state’s homeowners, New York Department of Financial Services Superintendent Benjamin Lawsky told the crowd at the Mortgage Bankers Association’s National Secondary Market Conference on Tuesday morning. “The state’s foreclosure process is broken and badly in need of change,” Lawsky said.
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What to expect at MBA’s Secondary Market Conference

Thousands of mortgage professionals set to descend on NYC
Ben Lane
Thousands of mortgage and secondary market professionals are set to descend on New York City this weekend as the industry gathers for the Mortgage Bankers Association’s National Secondary Market Conference 2015. Here's the full rundown.
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New York continues title insurance revolution

NYDFS announces rate cuts for refinances
Ben Lane
After recently announcing a set of new “anti-inducement” regulations designed to reign in kickbacks and “other improper expenditures” in the title insurance industry, the New York state government approved new title insurance rates for mortgage refinancing transactions, which are expected to provide up to 65% savings for consumers.
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Monday Morning Cup of Coffee: Is housing normal yet? Virginia to use eminent domain

BofAML says “normalization” can wait
Brena Swanson
After surveying key economic and housing data versus long term historical averages, a new report from Bank of America Merrill Lynch sees subpar performance on almost every front. How will this impact housing? Meanwhile, the arrests of two of the three most powerful men in New York's state government may finally open the door for housing reform.
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Court debates lifting time limitations on mortgage bond lawsuits

When does the clock start?
Brena Swanson
While investors who say they were duped into buying flawed mortgages have six years to sue, the court is currently trying to figure out when exactly the clock starts on the six years.
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New York cracks down on title insurers for kickbacks

New regulations expected to reduce title insurance costs by up to 20%
Ben Lane
The state of New York is cracking down on the title insurance industry after a New York Department of Financial Services investigation found that some title insurers are providing kickbacks in exchange for business and passing those costs along to consumers by significantly inflating title insurance premiums.
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Direct-to-consumer title insurer OneTitle secures $13 million investment

White Mountains Insurance Group acquires minority stake
Ben Lane
Direct-to-consumer title insurer OneTitle National Guaranty Company announced that it secured a $13 million investment from White Mountains Insurance Group, which it plans to use to expand beyond New York.
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