Analysts question if Wells Fargo is too big to lend
A wide variety of watchers are sounding alarm bells over San Francisco-based bank Wells Fargo’s massive share of the home mortgage business. Regulators and lawmakers are concerned about Wells Fargo’s dominance of the mortgage market, as it made 33.1 percent of new loans in the first half of 2012 and controls 18.5 percent on the […]14 years ago
Citigroup offers rental proposal to struggling borrowers
In trying to limit foreclosures, Citigroup is launching a program to rent homes back to homeowners who are struggling to make their mortgage payments instead of trying to evict them. Citigroup’s announcement comes on the heels of Bank of America, which announced in a similar program earlier this year to try to lessen the number […]14 years ago
‘No Pets’ could be deal breaker for renters
Renters are increasingly saying that if a rental unit doesn’t allow a pet, they don’t want it. A recent survey by Apartments.com found that 43 percent of those surveyed say they are current pet owners and more than a quarter say they plan to get a pet within the next year. Even among those who […]14 years ago
How to protect your vacation rental
If you rent out your weekend getaway, the insurance guidelines rules are usually different than if you simply allow people to use it. How well are you covered?14 years ago
UW stats reveal improving home sale figures
Washington state's housing market continued to improve during the second quarter of 2012 despite a slight drop in existing home sales, according to the Runstad Center for Real Estate Studies at the University of Washington.14 years ago
Lochte’s parents facing foreclosure on Florida house
While Ryan Lochte’s 2012 Olympic haul includes two gold medals, two silvers and a bronze, it’s not clear whether he’ll be able to save their Florida home from foreclosure. Steven and Ileana Lochte, now divorced, reportedly stopped making payments on their $258,000 mortgage in February 2011. CitiMortgage suing to foreclose on the property, which has […]14 years ago
Squatters refuse to leave couples’ home
A pair of squatters is refusing to leave a Littleton, Colo., home in which they’ve taken up residence, despite a judge’s order to leave. Following an eight-month legal battle, a judge has ordered the squatting couple to vacate the home within two days, but now two weeks later, the couple is still there. The rightful […]14 years ago
Michael Phelps’ gold medals don’t guarantee property win
Michael Phelps is finding that being the most decorated Olympian of all time doesn't necessarily help you in real estate.14 years ago
Tom Kelly: Why not give seniors more choices?
Perhaps the biggest boost to the reverse mortgage industry occurred when the U.S. Department of Housing and Urban Development announced it would insure its own product, the Home Equity Conversion Mortgage.14 years ago
Consumer watchdog investigating mortgage insurers
Recent regulatory filings by mortgage insurers signal that the Consumer Financial Protection Bureau (CFPB) is investigating industry practices. While PHH Corp. disclosed in January that it was a target of a probe, recent filings indicate the scrutiny reaches other businesses in the industry. The CFPB is looking into whether firms such as American International Group, […]14 years ago
Median King County home up $25,250 in one year
The median priced King County home sold in July was up $25,250, or 7.2 percent, over the same month in 2011, according to the latest statistics compiled by the Northwest Multiple Listing Service. The median price of $375,250 (excluding condominiums) means half the homes sold for more, half for less. The average price of a […]14 years ago
Foreclosed owners get review extension until December 31
Regulators are granting a third extension to a program that allows homeowners who were foreclosed upon to request a free, third-party review of their case. Homeowners now have until December 31 to request a review. Originally, the Federal Reserve and the Office of the Comptroller of the Currency had set a deadline of April 30, […]14 years ago
Investor buys all of county’s 627 foreclosures
A Detroit metro area county no longer has to worry about their foreclosure backlog . For about $4 . 7 million, Bill McMachen, an investor in Macomb County in Michigan, purchased all of the county's 627 foreclosed properties all at once and for one price.
14 years ago
Immobile ‘move-up’ buyers weigh on market
Inventory of for-sale homes on the market has fallen 24 percent from a year ago and many are pointing to the “immobile move-up buyer” as the reason behind the drastic drop. Some analysts say the lack of move-up buyers in the market may also slow the overall housing recovery. Housing affordability-due to fallen home values […]14 years ago
Fannie, Freddie refuse to reduce ‘underwater’ loan amounts
The Federal Housing Finance Agency announced that after several months of mounting pressure from the Obama administrator and lawmakers that the mortgage giants it regulates, Fannie Mae and Freddie Mac, will not lower the mortgage principal of underwater homeowners. Its decision quickly drew criticism. The FHFA insists that through its own analysis it has concluded […]14 years ago
Too much income to housing? Caution flags flying
In high-cost neighborhoods, homeowners are devoting much more than 30 percent of their incomes to pay for housing costs.14 years ago
Home ownership rate steady, yet down from 2005 high
The national home ownership rate has held mostly steady this year, standing at 65.5 percent for the second quarter, according to recent U.S. Census Bureau data. The rate is 0.4 percentage points lower than the second quarter of 2011, but 0.1 higher than the first quarter of this year. The home ownership rate has steadily […]14 years ago
‘Underwater’ refinance program gaining steam
A proposed refinance plan could serve as a “huge anchor” for underwater homeowners and the economy, according to Northwest legislator about a proposal that is gaining widespread support. “Millions of Americans are trapped in high-interest mortgages,” Sen. Jeff Merkley, D-Ore., said in a statement. “A bold solution to help these families refinance is the fastest […]14 years ago
Tom Kelly: Shadow inventory also lingers for cabins
I continually find myself tempering the exuberance of homeowners who are absolutely dead-set on the idea that all home values will soon appreciate. The latest example occurred on a long bicycle ride around one of my favorite mountain lakes. I try to make the trip a few times a summer but the weather and writing […]14 years ago
Bill would speed second-lien decisions in short sales
Second-lien holders are being blamed for derailing many short-sale transactions. However, the Fast Help for Homeowners Act, if approved, would require second mortgage lenders on federal mortgages to report their final decision on a short-sale agreement within 45 days. If the second-lien holder does not make a decision within that timeframe, the deal would automatically […]14 years ago
Walking away from mortgage more ‘socially acceptable’
It's becoming more socially acceptable to walk away from your mortgage. Forty-five percent of Nevada homeowners recently surveyed say "there is nothing wrong" with walking away on your mortgage obligations.14 years ago
Mixed signals point to an uneven housing recovery
While the housing market is showing signs of a turnaround, some analysts are referring to the recovery as “uneven.” As The Wall Street Journal explains in a recent article, “things aren’t getting better rapidly, but we’re also not in the ‘hold-your-hat’ declines of 2010 or the ‘spring that never materialized’ of 2011.” Several housing reports […]14 years ago
Remodeling index slides from recent high
The second quarter results of the Remodeling Market Index (RMI) slipped under pressure from a softening labor market, according to the National Association of Home Builders (NAHB). The RMI is based on a quarterly survey of NAHB remodelers that asks them to rate current remodeling activity along with indicators of future activity, like calls for […]14 years ago
