Wall Street Journal (04/17/12) Zibel, Alan New standards from the Federal Housing Finance Agency will require mortgage servicers to review and respond to short sale requests within 30 days of an offer on the property and provide weekly status updates if the offer is still under review after that. Mortgage firms will have to make [...]
Tag Archive | "Home Purchase"
The Federal Housing Administration (FHA) announced that it is increasing both upfront and annual premiums for its insured single family loans. An increase of 0.10 percent in the annual premium mandated by the Temporary Payroll Tax Cut Continuation Act of 2011 will be effective for all loans written after April 1. In addition, FHA is [...]
Waiting for the next onslaught of news from the world’s credit markets, here’s some musing on “recovery.” The Sacramento-Stockton area, since it was an epicenter of foreclosure activity, has more recently begun to demonstrate the ways local real estate markets can emerge creatively from the depths of the economic crunch. The community of Elk Grove, [...]
Standard and Poors™ has downgraded the US sovereign rating to AA+, and kept the rating outlook at negative, suggesting improvement in the fiscal situation will be needed to avoid further downgrades. Federal agencies have issued guidance clarifying that this action will not affect risk weightings for US Treasury or agency debt. Key Points: 1. At [...]
A new report from the MetLife Mature Market Institute reveals that older Americans are losing $2.9 billion annually to elder financial abuse, an increase of 12 percent over estimates reported in 2008. “The MetLife Study of Elder Financial Abuse: Crimes of Occasion, Desperation and Predation Against America’s Elders” also reports that crimes committed by strangers [...]
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Americans received good news on the home front last week — the home sales front, that is. Sales of both existing and new homes for November enjoyed upward trends, according to respective reports from the National Association of REALTORS® (NAR) and the Census Bureau. Sales of single-family homes, townhomes, condominiums and co-ops in November [...]
