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Home is Where the Heart Isn’t

MortgageNewsDaily.com — Fri, 18 Mar 2011 15:55:56 +0000

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One in four Americans says their home is worth less than what they paid, says CNBC's Jane Wells. The same number believes their home value will drop even more in the next year.

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Foreclosure Filings Hit Record Number of Properties in 2010

MortgageNewsDaily.com — Thu, 13 Jan 2011 14:21:55 +0000

One in every 45 U.S. housing units was the subject of a foreclosure filing in 2010, a year in which a total of 3,825,637 such filings were recorded. Foreclosure filings include default notices, scheduled auctions and bank repossession. In all, 2,871,891 properties were affected by the filings, a new record. The numbers were reported by RealtyTrac on Thursday in its Year-End 2010 U.S. Foreclosure Market Report . The filings represented an increase of 2 percent from 2009 and 23 percent from 2008. RealtyTrac, an Irvine California company, compiles a U.S. Foreclosure Market Report each month by tracking documents filed in all three stages of foreclosure: Notice of Default (NOD) and Lis Pendens (LIS). This is the first legal notification from a lender that the borrower on a mortgage loan has defaulted...(read more)

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MBA Study: FinReg Reform to Reduce Number of Qualified Mortgage Borrowers

MortgageNewsDaily.com — Mon, 27 Sep 2010 18:42:00 +0000

Saying that "mortgage features that are restricted in the Dodd-Frank Bill such as longer terms, interest-only periods and flexible payment designs are quite common in other countries and are not associated with higher rates of default", the Mortgage Bankers Association (MBA) today released a study comparing mortgage products in the United States with those in much of the rest of the world. Not surprisingly the study found that restrictions in the new financial reform act could limit the availability and flexibility of mortgages in the future. International Comparison of Mortgage Product Offerings is the result of a study conducted by Dr. Michel Lea, Director of the Corky McMillin Center for Real Estate at San Diego State University and sponsored by MBA's Research Institute for Housing America...(read more)

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Mortgage Rate Rally Short Lived. Rebate Reduced After Jobs Data

MortgageNewsDaily.com — Thu, 31 Dec 2009 16:25:38 +0000

Mortgage rates improved for the first time in six sessions yesterday as mortgage backed securities price appreciations early in the day allowed lenders to boost rate sheet rebate. Mortgage rates are slightly worse this morning after a better than expected Jobless Claims report. The weekly jobless claims report totals the number of Americans who filed for first time unemployment benefits in the previous week. Included within this report are continuing claims and extended benefits claims. Continuing claims totals the number of Americans who continue to file for unemployment benefits (because they haven't gotten a new job). Extended benefit claims totals the number of Americans who’ve used up their traditional benefits and are now collecting extended payments under recent government...(read more)

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