Real estate news

• Fannie Mae, Freddie Mac hike mortgage modification interest rate for first time in 2016

  07-12-2016 23:53
  
  The market mortgage interest rates aren’t the only ones on the way up, as Fannie Mae and Freddie Mac announced Wednesday that they are increasing the benchmark interest rate for standard mortgage modifications to a level not seen in 10 months. The increase will be the first time that the GSEs increased the modification benchmark interest rate in 2016.
  
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• New York unveils bill of rights for borrowers facing foreclosure

  07-12-2016 22:53
  
  The state of New York is taking the next step in its fight against abandoned foreclosures and neighborhood blight by unveiling a consumer bill of rights for borrowers facing foreclosure. The consumer bill of rights reminds consumers of the various rights they have before, during, and after the foreclosure process.
  
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• What can we expect from the economy in 2017? BofA tells all

  07-12-2016 22:49
  
  The new year is nearly upon us, and Bank of America Merrill Lynch Global Research is predicting the changes the economy will see in 2017. According to the bank, politics shifted in a backlash to globalization. Here are the top five changes the bank predicts for next year.
  
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• Here's the shortlist for the real power position at HUD: deputy secretary

  07-12-2016 22:41
  
  The HUD secretary, like many other Cabinet positions, is the public face of the department — meeting with housing leaders around the country, listening to local concerns and celebrating milestones. Most of the day-to-day operations are handled by the deputy secretary, currently Nani Coloretti, who essentially serves as COO. These are the names of Coloretti's possible future replacement.
  
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• Study: Real Estate Industry’s Outlook Softens for 2017

  07-12-2016 22:06
  
  Top real estate executives’ confidence in the U.S. economy and housing market for 2017 has softened compared to two years ago, and 42 percent have grown less confident in the world economy since January, according to the latest Imprev Thought Leader Real Estate Confidence study.“Real estate leaders are clearly less bullish about the coming year than they were two years ago,” says Renwick Congdon, chief executive officer of Imprev. “In fact, confidence for 2017 is lower ac
  
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• Surveying the American Dream: Housing Optimism Swings Post-Election

  07-12-2016 22:03
  
  Attitudes toward housing have swung since the outcome of the election, with consumers expressing opposing expectations of the market to come, according to Trulia’s recently released 2017 Housing Outlook Report. Post-election, the report shows, Republicans felt positive toward the market next year, anticipating better buying conditions; Democrats, however, felt less positive.
  “While it’s still too soon to tell how President-Elect Trump’s surprising presidential victory wil
  
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• CFPB fines three reverse mortgage lenders over deceptive advertising

  07-12-2016 22:01
  
  American Advisors Group, Reverse Mortgage Solutions and Aegean Financial are the latest names to face the wrath of the Consumer Financial Protection Bureau due to deceptive advertisements in reverse mortgage lending. “These companies tricked consumers into believing they could not lose their homes with a reverse mortgage,” said CFPB Director Richard Cordray.
  
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• The Single-Family Rental Market under Trump

  07-12-2016 21:46
  
  Editor’s Note: Greg Rand, CEO of OwnAmerica, recently presented at the IMN Single-Family Rental Investment Forum. The following are highlights from his presentation, which addressed the Trump Administration’s role in the single-family rental market, among other trends in housing.The housing market thrives on optimism.
  That announcement we saw last week with Carrier keeping 1,000 jobs in Indiana is going to become a regular occurrence. Why? Because American corporations have gotten pr
  
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• Check Out President Obama’s New D.C. Digs

  07-12-2016 21:44
  
  I guess your friends wouldn’t be impressed if you told them you’re moving to a nine-bedroom mansion when your old digs used to be the White House. That doesn’t mean Barack and Michelle Obama’s new Tudor-style home isn’t a sight to see. Not only are the furnishings and architecture stunning, but the house is also located by a creek in the elegant Kalorama neighborhood of Washington, D.C. After seeing the pictures, I’m starting to believe the Obamas are actually
  
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• A look into the past: Plane crashed into home at Pearl Harbor

  07-12-2016 20:45
  
  The attack lasted one hour and 15 minutes, but changed many lives forever. Here is one of many stories that happened on that fateful day. To those who served or even gave their life on Pearl Harbor day 75 years ago – we have not forgotten.
  
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• More trouble for Wells Fargo as bank reportedly fails fair lending requirement

  07-12-2016 20:29
  
  The dark clouds surrounding Wells Fargo are about to get a lot darker, as the bank, which is already in hot water over its recent fake account scandal, is reportedly falling short in its fair lending requirements and faces additional sanctions. Click through for the full story.
  
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• Mortgage defects fall for first time in a year as TRID issues subside

  07-12-2016 19:14
  
  Earlier this year, a report from ACES Risk Management showed that the rate of serious mortgage defects was on the uptick, and has been ever since TRID was implemented. Now, a new report from ARMCO shows that as the mortgage industry becomes more accustomed to operating in the post-TRID world, serious mortgage defects are actually declining.
  
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• Fannie Mae: Americans again expect home prices to start rising

  07-12-2016 17:08
  
  Consumer optimism fell in December, but was partially offset by the increased optimism after the presidential election. But how will this play out long term? Fannie Mae cautions readers against drawing conclusions about sustainable changes in consumer sentiment so soon after the election.
  
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• MBA: Mortgage applications go quiet as mortgage rates rise

  07-12-2016 13:05
  
  Mortgage applications barely nudged as interest rates start to reach levels that the industry hasn't seen in more than two years. Here’s how apps are performing in this rising interest-rate environment.
  
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• Commissions, Inc. acquires TigerLead from Move

  07-12-2016 00:34
  
  Earlier this year, Fidelity National Financial, the nation’s largest title insurance company, acquired Commissions, Inc., a provider of web-based real estate marketing and CRM software for residential real estate agents and agent teams, pledging to grow the company’s business. Now, CINC’s product suite is about to get a little larger, as the company plans to acquire TigerLead, a real estate agent lead generator, from Move, Inc.
  
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• Blackstone CEO, leader of Trump's advisory board expects "substantial" reduction in regulations

  07-12-2016 00:30
  
  Steve Schwarzman, the chairman and CEO of Blackstone Group, expects to see a “substantial” reduction in government regulations during the term of President-elect Donald Trump. And Schwarzman will be well positioned to help contribute to that regulatory rollback, as he was recently named the leader of Trump’s Strategic and Policy Forum, a group of 16 CEOs who are expected to advise the president-elect on economic issues.
  
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