October 04, 2013 By mortgage
October 03, 2013 By mortgage
October 02, 2013 By mortgage
October 01, 2013 By mortgage
September 30, 2013 By mortgage
Mortgage fraud loan originations are estimated to decline nearly 40% in 2011 from $12-billion in damages to the U.S. economy last year, according to real estate research firm CoreLogic. Fraud experts predict that residential mortgage fraud will total $7.4-billion this year.
CoreLogic attributes the year over year drop primarily to lower mortgage origination volume, with the firm’s fraud index remaining relatively flat for the last five consecutive quarters. However, the firm’s fraud study also found that lenders’ improved pre-funding controls and safety procedures have reduced the growth of mortgage fraud.
The federal government can’t even give money away to help the unemployed pay their mortgage. A $1 billion program to assist the jobless will likely end up spending only half the funds, at most, because so few people met the strict criteria. The Housing Department, which had to approve the applications for the Emergency Homeowners’ Loan Program by Friday, expects that only 10,000 to 15,000 people will qualify. That’s only a small sliver of the roughly 100,000 who applied.
NEW YORK (CNNMoney)- Taking advantage of a weak U.S. dollar and a beaten down housing market, foreign buyers helped push Manhattan home prices slightly higher in the third quarter, according to the city’s top residential real estate agents.
The average price for a condo or co-op in the city climbed to $1.42 million in the three months ended September 30, up 3% from the second quarter, according to realtor Corcoran Group.
Mortgage rates dropped to the lowest rate in U.S. recorded history this week on the heels of the Federal Reserve announcement that the Fed will buy additional mortgage-backed securities. Rates The massive drop in rates rocketed the average 30-year fixed rate mortgage to 4.01%, and the shorter term fixed rate loan to another record low, according to Freddie Mac.
Real estate investors are ditching other investment assets to buy homes and properties in rising numbers. Record low all-time mortgage rates combined with the lowest housing affordability rate in more than investment 20 years make it time to buy real estate for many investors. But if you’re counting on getting a loan to make the deal work, obtaining a mortgage may be an obstacle.
The U.S. is having difficulty returning to prosperity because of several major dilemmas. In the long run, we need to adopt actions that slash our rising deficit and debts, but those actions are opposed to the behavior we need to implement right now to overcome high unemployment and low growth. This dilemma, plus disagreement in Congress about which way to go, has produced policy paralysis.
Affixed by a spring in permits of multi-family buildings, new housing starts increased in California State during the previous month of August, in spite of a drop in new housing starts across the whole nation. Construction of new homes during the month nationwide totaled just 571,000 housing units, the fewest since record keeping has been monitored during 1970.