A prolonged government shutdown could create delays for homebuilders and first-time buyers if the Federal Housing Administration remains closed for longer than a few weeks, an analyst with Sterne Agee claimed Tuesday.
[Ryland] took pretax charges of $60.4 million for inventory valuation adjustments. New orders dropped 31.6%. The company said its inventory of unsold homes stood at 719 units at the end of September, down 12.6% from the end of 2007...
(At Pulte) Net new home orders for the quarter totaled 3,008 homes, a 34% decline from the same period a year ago.
We have to ask -- in light of today's news that both KB Home and Ryland are planning to roll out nationwide price protection guarantees -- can anyone else without a guarantee sue to get one? We at HW could see plenty of pissed-off borrowers who bought and weren't offered price protection.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More