Foreclosure activity took a nosedive in November, reflecting both an expected seasonal lull and foreclosure moratoriums that were imposed by several of the major servicers. RealtyTrac reports that foreclosure filings in November dropped 21 percent vs. filings in October. This is a 14 percent decline...
"Negative equity is a primary factor holding back the housing market and broader economy," Mark Fleming, chief economist with CoreLogic said Monday as his company released third quarter data showing continued improvement in the number of underwater mortgages. Fleming however warned that price declines...
Few Americans are looking for a recovery in the housing industry over the next calendar year according to a survey of attitudes toward housing and foreclosure conducted last month by Harris Interactive. The survey was sponsored by two online housing companies, RealtyTrac which tracks foreclosure data...
Federal Home Finance Agency (FHFA) Acting Director Edward J. DeMarco told the House Judiciary Committee Thursday that regulators, lawmakers, investors, and the general public want answers to the questions raised by the recent breakdown in foreclosure processes "and we want them now." Testifying in a...
Homes that have been foreclosed or are in the process of foreclosure represented 25 percent of all home sales in the country during the third quarter of 2010 according to the quarterly U.S. Foreclosure Sales Report™ released by RealtyTrac on Thursday. This is an increase of 1 percent from the market...
Are the best and brightest bond trading and investor minds out there just now realizing that the true Fed policy goal of QE2 is inflation? And that inflation is not a good thing for fixed-income securities, such as MBS's? One can criticize the program all one wants, but a) betting against the Fed in...
The second phase of the Senate Banking Committee's hearing on Problems in Mortgage Servicing from Modification to Foreclosure , held on December 1 featured two panels; one composed of federal regulators, the second by representatives of the two government sponsored enterprises (GSEs), the finance industry...
The Senate Banking Committee is holding the second in a series of hearings on Problems in Mortgage Servicing from Modification to Foreclosure on Wednesday. Part One of the hearings held in mid-November featured testimony from witnesses representing consumers, state's attorneys general and the mortgage...
Embedded in the release of Existing Home Sales data yesterday was an update on the number of previously owned homes currently for sale on the market. From the Release... "Total housing inventory at the end of October fell 3.4 percent to 3.86 million existing homes available for sale, which represents...