Senate approves short sale tax break

Senate approves short sale tax break

Allows tax relief on 2014 short sales

Senate fails to pass Terrorism Risk Insurance Act

Housing groups "extremely disappointed" in "alarming failure"

Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
W S

Items Tagged with 'New York'

ARTICLES

Brooklyn is the country’s least affordable place to live

Last in RealtyTrac’s home price affordability rankings
Ben Lane
According to a report from Bloomberg, a Brooklyn resident making the city’s median income would need to devote 98% of their income to afford the payment on a median-priced home in Brooklyn, where the median home price is $615,000.
Read More

NYC broker jailed for burglarizing $7.6 million home he sold

Former Corcoran Group broker sentenced to up to nine years in jail
Ben Lane
A Manhattan real estate broker will spend the next three to nine years of his life in jail after he was found guilty of burglarizing a $7.6 million townhouse on the Upper West Side. So how did he choose his target? He was the broker who handled the sale of the house.
Read More

GuardHill Financial names Melissa Cohn president

Company plans expansion
Ben Lane
GuardHill Financial, a New York City-based mortgage banker and mortgage company, has named Melissa Cohn as the company’s new president. In this role, Cohn will lead the company’s day-to-day operations and “help drive forward the strategic vision for the company,” GuardHill said in a release.
Read More

S&P/Experian: Mortgage default rates increase two months straight

Rates hits .93%
Brena Swanson
“Default rates for bank cards reversed an increase seen in the first half of 2014 while defaults on first mortgages and auto loans appear to have bottomed out over the summer,” says David Blitzer, managing director and chairman of the index committee for S&P Dow Jones Indices.
Read More

Here are the 14 most outrageously expensive neighborhoods for renters

Markets where you'll spend more than half your income on living
Brena Swanson
Owning a home is becoming more affordable, while renting is becoming more expensive than ever, especially in these 14 neighborhoods.
Read More

New York’s foreclosure backlog isn’t going away until 2016, at least

Prospects slightly better in New Jersey
Ben Lane
"In New York, the recent private-label RMBS foreclosure backlog of 38,213 loans could be cleared in approximately 5.7 years using the last 12 months’ average exit rate of 1,684 loans and in approximately 2.4 years using the 2008-10 average rate of 4,059 loans," Moody’s Investors Service said in a new report.
Read More

Lawsky’s latest target: Hard-money lenders

NYDFS subpoenas nine companies over concerns of predatory lending
Ben Lane
The NYDFS said that hard-money lenders do not typically evaluate a borrower’s ability to repay and likelihood of default, and it has concerns that some lenders may “intentionally structure loans with the expectation of foreclosing on and taking possession of the property."
Read More

S&P/Experian: Mortgage default rates increasing

After falling for almost a year
Brena Swanson
Consumer default rates rose in August, reversing a long downward trend. However, according to David Blitzer, with the S&P Dow Jones Indices, "No return to the extreme default experience of a few years ago is imminent."
Read More

The best and worst state economies

Where should you be doing business?
Brena Swanson
The overall forecast for the future of housing isn't too bright, but there are plenty of hot spots when you break it down state by state.
Read More

Here are the states with the priciest homes for sale

Most expensive home goes for $69M
Brena Swanson

For the well off and affluent, the housing market is still going strong, and lenders are quickly jumping on board to make sure they have the financing that they need. Here are the states with the priciest homes for sale, including the most expensive in the nation.


Read More