U.S. mortgage insurers are likely to reject as much as $4 billion in claims by lenders over the next few years as they get more aggressive in pushing responsibility for bad loans to originators, Moody's Investors Service said in a report.
U.S. mortgage rates dropped to a record low in the latest week, as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.
The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday. Mark Zandi, chief economist at Moody's Economy.com in West Chester, Pennsylvania, said in an interview with Reuters home prices will resume their decline by early next year as foreclosure sales pick up again.
The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday.
U.S. mortgage applications nudged higher last week, data from an industry group reported on Wednesday, as consumers showed a subdued reaction to the lowest interest rates in six months.
The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed short sales of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Obama administration threatened on Monday to punish mortgage lenders with fines unless they speed up efforts to give hard-pressed homeowners a permanent break on monthly payments.
The Treasury Department is expected to meet with lenders on Monday to press them to do more to rework troubled home mortgage loans, a source familiar with the Treasury's thinking said.
The Treasury Department is expected to meet with lenders on Monday to press them to do more to rework troubled home mortgage loans, a source familiar with the Treasury's thinking said.
The Treasury Department wants lenders and companies that process monthly mortgage payments to do more to rework troubled home mortgage loans and will announce new measures on Monday aimed at achieving that goal, a department spokeswoman said on Saturday.
The Obama administration plans to announce on Monday a campaign to press mortgage companies to reduce payments for many more struggling homeowners, The New York Times reported in Sunday editions.
U.S. mortgage rates sank to or near record lows in the past week, home funding company Freddie Mac said, improving affordability in a battered U.S. housing market that is starting to gather steam.
Demand for U.S. home loans slipped last week even as mortgage rates hovered near record lows, the Mortgage Bankers Association said on Wednesday.
General Growth Properties , the giant mall operator that filed for bankruptcy in April, said on Thursday it reached an agreement with lenders that extends maturities on 70 loans and enables the lenders to get their money back.
U.S. mortgage delinquency rates and the percentage of loans that entered the foreclosure process jumped in the third quarter, with both reaching record highs, the Mortgage Bankers Association said on Thursday.
The Federal Reserve Board said on Monday it approved an interim final rule requiring that consumers be notified when their mortgage loan has been sold or transferred.
U.S. mall owner Developers Diversified Realty Corp snapped a dry spell of nearly a year and a half by selling $400 million of new commercial mortgage bonds on Monday, with help from an emergency Federal Reserve lending program.
Refinancing drove total U.S. mortgage applications higher last week as fixed borrowing costs fell further below 5 percent, but home purchase demand sank to a nine-year low, an industry group said on Thursday.
About 20 percent of struggling U.S. homeowners eligible for loan workouts have entered into a trial modification, but it is unclear how many of them will be able to keep the lower payments permanently, the Treasury Department said on Tuesday.
Home values in the United States stabilized in the third quarter and fewer mortgages were underwater, but impending foreclosures could threaten to delay a housing market recovery, real estate website Zillow.com said on Monday.
The joint venture that borrowed heavily to buy Stuyvesant Town and Peter Cooper Village in 2006 could be among the first to take advantage of changes in U.S. tax law that let borrowers seek payment relief, when it said last week that it could not keep paying interest on a $3 billion loan.
U.S. mortgage rates fell below 5 percent for the first time in three weeks, a key level that may boost home loan demand and help the hard-hit housing market recover, a closely watched mortgage survey showed Thursday.
