The Obama administration's latest effort to boost the beleaguered housing market is likely to help mortgage insurers as lower defaults will boost their liquidity.
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.
The U.S. Treasury will soon finalize a plan to expand its incentives for mortgage companies to include short sales as a way to stem a rising tide of foreclosures, according to a Treasury spokeswoman.
The average rate on 30-year U.S. home loans fell in the past week to retest record lows, helping stimulate housing demand, Freddie Mac said on Thursday.
Foreclosures and other distressed property might look like a good deal, but some buyers are discovering that they just don’t have the stomach for the problems that come with it.
Nearly one third of people who applied for a mortgage last year were denied, the Federal Reserve reported Wednesday.
A study of 24 million credit files by national credit bureau Experian and consulting company Oliver Wyman has shown that home owners with high credit scores are 50 percent more likely to deliberately walk away from a mortgage than lower-scoring borrowers.
The number of home foreclosures in process and delinquent mortgages rose during the second quarter, while home retention actions also rose, U.S. bank regulators said on Wednesday.
U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said on Wednesday, in another sign that housing will likely recover slowly from its three-year plunge.
U.S. mortgage rates held at their lowest level since late May in the latest week, low enough to continue to spur home loan demand and help the hard-hit U.S. housing market recover.
Scores of independent mortgage banks have closed their doors over the past two years due to the challenges of obtaining short-term credit, and two new trade groups have been established in response.
Homeowners who pay off their mortgage loan should notify county officials where the property is located, and file proof that the debt is paid.
The U.S. Treasury plans to kick off a fresh $15 billion liquidity and mortgage bond purchase program to assist state finance agencies providing mortgages to low-income borrowers, Bloomberg said, citing a person familiar with the matter.
Legal entanglements and well-intentioned home-owner-assistance efforts have slowed the pace of foreclosures, but eventually many of these distressed homes will hit the market anyway.
U.S. mortgage rates held at their lowest level since late May in the latest week, low enough to continue to spur home loan demand and help the hard-hit U.S. housing market recover.
A slew of state and local home foreclosure mediation programs have enormous potential to help homeowners, but most suffer from lack of industry accountability, according to a study released on Wednesday.
Two mortgage real estate investment trusts halved their planned initial public offerings on Wednesday, casting a shadow on upcoming IPOs in the sector.
U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday.
U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday.
