Some say there is no spark in today’s economy. Others claim we’ve hit a speed bump. Nonetheless, everyone will agree the housing market is light years ahead of where it stood a year ago. But has the recovery cooled?
Bank of America is in the crosshairs of an advocacy organization as it attempts to prove the bank is neglecting REO properties in minority neighborhoods. But the mortgage industry has a different take on the issue—namely that crime is making it difficult for institutions to maintain these homes.
Riding on the coattails of two very impressive third-quarter earnings reports from homebuilders, Lennar and KB Home, real estate-related stocks closed the day with positive movement on the HW 30 index.
U.S. District Judge Jesse Furman denied Wells Fargo’s motion to dismiss several statutory claims made against the bank by the federal government. The original case attempts to get the bank to pay for losses on FHA-insured loans that eventually turned sour.
HUD’s objectives are sometimes distributed by factors ranging from politics, socio-economic disparities and even natural disasters. When American homeowners fall victim to any of these elements, HUD is not only there to offer a helping hand, but often serves as the tool that leads to recovery.