Mortgage News Archive - June 2011
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Delinquencies Drop, Foreclosures Rise
June 30, 2011Fewer homeowners are experiencing financial difficulty with their mortgages, even as the number of...
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Nondistressed Home Prices Stabilizing
June 30, 2011U.S. home prices rose for a second consecutive month in May, rising 0.8 percent as the spring homebuying...
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Rates Fall, But Consumers Yawn
June 29, 2011Mortgage rates resumed their decline last week following a brief spike, though without spurring much...
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Pending Home Sales Bounce Back
June 29, 2011Pending home sales rebounded in May, bouncing back from a sharp downturn in April attributed to poor...
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Home Prices Reverse 8-Month Slide
June 28, 2011U.S. home prices rose in April, breaking a string of eight months of declines with the arrival of the...
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Anxiety Keeping a Lid on Home Sales
June 27, 2011Consumer anxieties, including reservations about the direction of home values, are keeping a lid on home...
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Lower Loan Limits Raise Concerns
June 27, 2011A scheduled reduction in mortgage limits on government-backed loans could make about 1.4 million U.S. home...
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17% of Defaults Called Deliberate
June 24, 2011Nearly one in five borrowers who default on their mortgages does so deliberately despite being able to...
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Mortgage Standards Keep Tightening
June 24, 2011Mortgage lenders have continued to tighten consumer credit over the past year, although not as...
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New Home Sales Slip in May
June 23, 2011New single-family home sales were down in May, showing a seasonally adjusted decline of 2.1 percent from...
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Mortgage Rates Holding Steady
June 23, 2011Mortgage rates remained largely unchanged again this week, amid another round of discouraging reports on...
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FHFA: Home Prices Turn Upward
June 22, 2011U.S. home prices have posted their first increase in nearly a year, rising a seasonally adjusted 0.8...
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5 Years of Stagnant Home Values Seen
June 22, 2011Home prices are expected to remain essentially flat over the next five years, with sluggish increases...
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Met Now Top Reverse Mortgage Lender
June 22, 2011With the nation’s two largest banks exiting the reverse mortgage market this year, it appears the country’...
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Existing Home Sales Down Again
June 21, 2011Existing home sales fell again in May, dropping a seasonally adjusted 3.8 percent to an annual rate of 4....
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Fannie Backs Off Housing Forecast
June 21, 2011Mortgage giant Fannie Mae is scaling back its predictions for a recovery in the housing market following a...
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$1 Billion in Homeowner Aid Offered
June 20, 2011Homeowners facing foreclosure can now tap into a $1 billion program of emergency loans to help tide them...
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Americans More Upbeat On Homebuying
June 18, 2011Nearly two-thirds of Americans think that right now is a good time to buy a home, despite ongoing concerns...
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Wells Fargo Exits Reverse Mortgages
June 17, 2011Wells Fargo is getting out of the reverse mortgage business, the San Francisco-based lender has announced...
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Foreclosures Down, But Inventory Up
June 16, 2011Foreclosure activity continued to decline in May, but slowing sales of repossessed properties means the...
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Inflation Report Doesn’t Budge Rates
June 16, 2011Mortgage rates held steady this week, despite reports of somewhat stronger inflationary pressures in the...
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New Home Construction Shows Gains
June 16, 2011New home construction picked up in May, but continues to remain weak by historical standards, especially...
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Blair Sees Little Impact from 5% Rule
June 16, 2011Outgoing FDIC Chair Shelia Blair doesn’t think a controversial new rule designed to limit risky mortgages...
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Refinance Applications Up Sharply
June 15, 2011A surge in demand for mortgage refinancing occurred last week as mortgage rates hovered around their...
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Home Sales Show Modest Spring Gain
June 14, 2011Home sales and prices both posted modest increases in May, reflecting normal seasonal trends but also...
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Fannie, Freddie Losses Shrink
June 14, 2011Fannie Mae and Freddie Mac substantially reduced their operating losses last year, but still handed...
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85% of Wells Fargo Mods Are Private
June 13, 2011Homeowners who obtain a mortgage loan modification from Wells Fargo are far more likely to get a private...
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HAMP Loan Mods Steady But Few
June 10, 2011Things seem to have stabilized for the government’s much-maligned HAMP mortgage loan modification program...
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Homes Still Seen as Good Investment
June 10, 2011The vast majority of U.S. homeowners say they are happy with their decision to own a home, despite the...
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3 Servicers Targeted for HAMP Miscues
June 09, 2011The Treasury Department is withholding incentive payments from three of the nation’s largest mortgage...
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Slowing Decline in Home Prices Seen
June 09, 2011Declines in home prices slowed over the most recent quarterly period, with the arrival of the spring...
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Comments Extended on 20% Down Rule
June 09, 2011Banking regulators have pushed back by nearly two months the deadline for public comments on a...
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Falling Rates Spur Little Demand
June 08, 2011Mortgage rates continue to fall, stirring mild interest in refinancing existing loans but failing to spur...
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Modest Momentum for HARP Refinances
June 07, 2011The government’s Home Affordable Refinance Program (HARP) posted its second-strongest quarter on record...
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38% of Equity Borrowers Underwater
June 07, 2011Homeowners with a home equity loan are more than twice as likely to be underwater on their mortgage(s) as...
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Maps Help Homebuyers Find Safe Areas
June 06, 2011A new tool that provides potential homebuyers with information about crime rates in neighborhoods they may...
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Will Pent-Up Demand Drive Recovery?
June 06, 2011Though currently mired in gloom, the housing market could snap back fairly quickly, once consumers decide...
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Where Are Home Prices Most Stable?
June 04, 2011What have been the most stable markets for home buyers since the start of the Great Recession? You might...
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FHA Urged to Allow E-Signatures
June 03, 2011The Mortgage Bankers Association is urging the FHA to simplify the mortgage application process by...
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New Foreclosures Down 25 Percent
June 02, 2011Foreclosures tumbled in April, with the number of homeowners receiving initial notices of default down by...
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April Home Prices Show Turnaround
June 02, 2011Bucking recent economic trends, a major analytical firm is reporting the first increase in U.S. home...
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Half Say Down Payment Unattainable
June 01, 2011Half of all Americans say they could never save up enough money for a down payment for a home, no matter...
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30-Year Rates Show Big Drop
June 01, 2011Mortgage rates took a big drop last week, with average rates on 30-year loans falling by more than one-...
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