A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

How servicers continue to protect neighborhoods amid COVID

We spoke with MCS CEO Caroline Reaves about self-service technology, the shift to virtual and how servicers can prepare for post-COVID success by improving processes today.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Mortgage

Zillow: Rough Quarter for Home Values

Home values fell three percent in the first quarter of 2011, according to the U.S. Home Value Index produced by Zillow.  This marks a pace of decline not matched in this index since 2008.

 

Only two metropolitan areas did not decline in the latest survey, Honolulu had a small positive year-over-year change, while Pittsburgh remained flat.  When split into 3 tiers, the top tier performed best with values only falling 4.3 percent.  The lowest tier of home values suffered largest losses at 13.9 percent year-over-year, while the middle tier was in between with an 8.7 drop.

 

The report also found that a record number of homes sold in March were sold for a loss (37.7%).  Foreclosure re-sales accounted for 23.7 percent of all sales, also a new high.  Additionally, negative equity in the first quarter reached a new high at 28.4 percent of all single-family homes.

With the first quarter's poor performance, Zillow revised their forecasts for 2011 to project home values to decline by 7-9 percent in 2011 as compared to 5-7 percent in their previous forecast.

Most Popular Articles

United Wholesale Mortgage makes public debut

United Wholesale Mortgage’s debut caps a wild six months for IMBs across America, in which a dozen large or mid-sized firms revealed plans to go public.

Jan 22, 2021 By

Latest Articles

SitusAMC acquires Assimilate Solutions

Technology firm SitusAMC announced its acquisition of mortgage and title outsourcer Assimilate Solutions on Monday – it’s second acquisition in January.

Jan 25, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please