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Agents sell more higher-priced homes in California“Real estate professionals in California sold slightly fewer homes in April than they did a year ago, according to a report by real estate data company MDA DataQuick. Sales of both new and resale houses and condominiums were down 1.3 percent year-over-year, to an estimated 37,481 units. That a 0.5 percent increase from March, however.”
Hitwise: Rental sites gaining ground“Popular search terms indicate that consumer interest in rentals is growing, according to a webinar presentation by Web metrics firm Experian Hitwise.”
Prime loan delinquencies escalate“Earlier this year, while attending a mortgage industry technology gathering in California, I decided to attend a press conference put on by Lender Processing Services Inc.”
More homeowners turn to mediation after foreclosure‚ÄúWhen Mark Weeks was laid off from his $90,000-a-year construction job 2¬Ω years ago,he vowed to hang onto his family’s house here, where he’d lived with his wife, their three children and two dogs for the last six years.‚Äù
Average 30-year mortgage rates drop to 4.78 percent“The average rate on a 30-year fixed rate mortgage dipped to 4.78 percent this week from 4.84 percent a week earlier, mortgage company Freddie Mac said Thursday. It was the lowest since early December, when rates fell to a record low of 4.71 percent.”
ResCap Plans Expansion in Wholesale Mortgage Lending“Residential Capital (ResCap), the mortgage subsidiary of GMAC Financial Services, confirmed to HousingWire its plans for a re-entrance into wholesale mortgage lending.”
Mortgage Bankers Tap Industry Veteran to Lead Lobbying Efforts“The Mortgage Bankers Association (MBA) named Bill Killmer senior vice president of legislative and political affairs, effective July 5, 2010.”
NeighborWorks Finds Unemployment Drives Most Mortgage Defaults“Of the homeowners receiving foreclosure counseling through the National Foreclosure Mitigation Counseling (NFMC) program, 58% listed unemployment as the main reason for default.”
Fannie Clarifies Mortgage Insurance Standards for Loan Purchases“Government-sponsored enterprise (GSE) Fannie Mae (FNM: 0.95 -0.96%) back in December issued a mortgage selling guide to its approved lenders, updating its policies on mortgage insurance requirements.”
Special Report: For some people, CDOs aren’t a four-letter word‚ÄúCollateralized debt obligations are as hard to love as they are to fathom. The scourge of the financial world, these complex subprime mortgage-linked securities caused hundreds of billions of dollars in losses for banks, hedge funds and insurers.‚Äù
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