Real estate news

• More homeowners taking loan modifications, avoiding foreclosures

  17-08-2016 23:10
  
  Servicers are providing more options for homeowners in danger of foreclosing. Some homeowners didn’t qualify for long-term permanent loan modification, in which cases the mortgage servicers looked for a short term options that, in many cases, led to a permanent solution.
  
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• Industry throws wet blanket on the digital mortgage revolution

  17-08-2016 23:06
  
  Over the last few years, publications just like this one spilled a significant amount of ink on the digital mortgage revolution, that is the effort to take the cumbersome, paper-intensive mortgage process online. Innovations like Quicken Loans’ Rocket Mortgage show the mortgage industry is undergoing a technological shift, but just how many hurdles still need to be cleared before the industry can go fully digital? Quite a few, as it turns out.
  
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• Managing spikes (and dips) in mortgage volume

  17-08-2016 23:00
  
  According to the Mortgage Bankers Association, refinance applications jumped more than 100% in the first few weeks post-‘Brexit’ as compared to a year ago, and many lenders found themselves over capacity and struggling to keep up with the increase in volume. Here's how to keep up.
  
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• Homes going into foreclosure hit 11-year low in July

  17-08-2016 22:28
  
  Foreclosure starts decreased again in July, hitting their lowest point since May 2005. Of course, some states still struggle with foreclosure starts. One state even increased 113%.
  
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• Fed not likely to increase interest rates "until December or later"

  17-08-2016 22:28
  
  There are only three meetings left this year for the Federal Open Market Committee, and the likelihood they’ll raise interest rates in one of them looks slim. Judging by the latest meeting minutes, the Fed isn't making any sudden changes, per usual.
  
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• Builder Confidence Rises with Boost in Housing Starts

  17-08-2016 22:12
  
  Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
  “New construction and new-home sales are on the rise in most areas of the country, and this is helping to boost builder sentiment,” says NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.
  “Builder confidence remains s
  
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• Mortgage Applications Shrink 4 Percent

  17-08-2016 22:06
  
  Mortgage applications decreased 4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 12, 2016.
  The Market Composite Index, a measure of mortgage loan application volume, decreased 4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5 percent compared with the previous week and the Refinance Index decreased 4 percent from the
  
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• California Home Sales Dip in July, Report Shows

  17-08-2016 22:04
  
  California home sales stumbled in July as low inventories and eroding affordability dragged down the housing market, according to the California Association of REALTORS® (C.A.R.).
  Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 415,840 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents
  
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• It’s official, the Playboy Mansion finally sold

  17-08-2016 21:17
  
  After several months on the market, the Playboy Mansion officially sold, but with one strange condition. The new owner already began making plans for what he intends to do with his new estate.
  
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• Mortgage credit defaults increase slightly in July

  17-08-2016 19:07
  
  Mortgage credit defaults increased slightly, but remain near 12-year lows. S&P Dow Jones Indices’ managing director explained why the economy is experiencing more uncertainties than usual, and what to expect through the rest of the year.
  
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• Plan B: loanDepot closes on $150M in capital transaction

  17-08-2016 18:35
  
  Nearly one year after it postponed its initial public offering due to market conditions, loanDepot announced it went a different route to gain capital. This time around, loanDepot said it closed $150 million in term debt financing. But while the method to get the capital changed, the purpose hasn't.
  
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• Norway Wealth Fund's UK Real-Estate Holdings Fall Sharply in Value - Wall Street Journal

  17-08-2016 17:00
  
  Wall Street Journal
  Norway Wealth Fund's UK Real-Estate Holdings Fall Sharply in Value
  Wall Street Journal
  OSLO—Norway's sovereign-wealth fund, the world's largest by assets, said the value of its U.K. real-estate holdings fell sharply in the second quarter, thanks in part to the British vote to leave the European Union and the resulting tumble in the pound.
  Norway Wealth Fund Cuts U.K. Real Estate Value After BrexitBloombergall 35 news articles »
  
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• The Pros and Cons of Investing in Real Estate With a Partner - U.S. News & World Report

  17-08-2016 16:48
  
  U.S. News & World Report
  The Pros and Cons of Investing in Real Estate With a Partner
  U.S. News & World Report
  Before you shake hands, consider how your partnership will handle the ups and downs of the real estate market. By Dennis Cisterna Aug. 17, 2016, 10:44 a.m.. MORE. LinkedIn; StumbleUpon; Reddit; Cancel ...and more »
  
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• A San Francisco Investment Firm Is Snatching Up Old Town Real Estate - The Portland Mercury

  17-08-2016 16:36
  
  The Portland Mercury
  A San Francisco Investment Firm Is Snatching Up Old Town Real Estate
  The Portland Mercury
  ON AUGUST 11, Old Town karaoke mecca the Boiler Room announced new landlords were pushing it out of its corner space at NW 3rd and Davis after 15 years. The bar's fans immediately did what Portlanders do these days—raged on Facebook and ...
  
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• Refinances push revenues in home improvement industry

  17-08-2016 16:27
  
  Lowe’s fell short of earnings expectations, but still came in with increases from last year. More homeowners are focusing on home improvement, and Lowe’s projects its growth will continue through the remainder of 2016.
  
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• MBA: Mortgage applications swing back down

  17-08-2016 13:05
  
  Mortgage applications continue to swing up and down, falling 4% from one week earlier. The news comes after last week’s rise, primarily driven by refinance applications. The week before that, however, also posted a decline.
  
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• A data makeover: How agency delivery requirements impact the industry’s future

  17-08-2016 07:00
  
  It’s been nearly eight years since the housing market collapsed, but the mortgage industry is on the path to building a foundation for long-term success. Part of this success can be attributed to how the government-sponsored enterprises (GSEs) rebuilt the foundation on data. The process to create a common approach, protocol and dataset for the capture of electronic appraisal and other loan delivery data has yielded tangible results, setting the stage for similar initiatives over the coming
  
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