Fannie Mae and Freddie Mac sold 30% of their nonperforming loan portfolio during 2021, the highest share ever, the latest Federal Housing Finance Agency report stated.The government-sponsored enterprises sold 24,164 nonperforming loans last year from a portfolio of 79,591 that they held as of Dec. 31, 2020. The sales consist of loans in the portfolio for at least a year.In the pandemic year of 2020, units sold totaled just 4,051 or 8% of the total 51,512 held on Dec. 31, 2019.However, because o...
Fannie Mae and Freddie Mac sold 30% of their nonperforming loan portfolio during 2021, the highest share ever, the latest Federal Housing Finance Agency report stated.The government-sponsored enterprises sold 24,164 nonperforming loans last year from a portfolio of 79,591 that they held as of Dec. 31, 2020. The sales consist of loans in the portfolio for at least a year.In the pandemic year of 2020, units sold totaled just 4,051 or 8% of the total 51,512 held on Dec. 31, 2019.However, because o...
A report from The Hill. “‘Higher prices and higher mortgage rates have boosted the required monthly payment to buy a home; it’s up by more than 40 percent from a year ago. This affordability challenge will shrink the buyer pool.’…
A report from The Hill. “‘Higher prices and higher mortgage rates have boosted the required monthly payment to buy a home; it’s up by more than 40 percent from a year ago. This affordability challenge will shrink the buyer pool.’…
Last week, Fannie Mae & Freddie Mac announced actions that aim to make it easier to buy a home and close the racial homeownership gap. Their Equitable Housing Finance Plan for 2022-2024 outlines a range of pilot programs that remove barriers blacks face when buying or renting, and keeping homeowners and renters at home: “The plans released last week might have been written by California Rep. Maxine Waters“, writes WSJ editorial board. One program would assist black borrowers with down payme...
Last week, Fannie Mae & Freddie Mac announced actions that aim to make it easier to buy a home and close the racial homeownership gap. Their Equitable Housing Finance Plan for 2022-2024 outlines a range of pilot programs that remove barriers blacks face when buying or renting, and keeping homeowners and renters at home: “The plans released last week might have been written by California Rep. Maxine Waters“, writes WSJ editorial board. One program would assist black borrowers with down payme...
A bill that would revert the statute of limitations on foreclosures back to six years is ready for New York Gov. Kathy Hochul's signature.
The post ‘Foreclosure Abuse Prevention Act’ awaits New York governor’s signature appeared first on HousingWire.
A bill that would revert the statute of limitations on foreclosures back to six years is ready for New York Gov. Kathy Hochul's signature.
The post ‘Foreclosure Abuse Prevention Act’ awaits New York governor’s signature appeared first on HousingWire.
A report from Yahoo Finance. “Personal finance expert Suze Orman thinks the housing market holds promise for U.S. consumers even though she says ‘the tables have turned a little.’ ‘You’re not going to see a house go on the market, again, in my opinion, and get 30 offers over the asking price,’ Orman said. ‘I think now maybe you’ll see three, four offers — maybe you have to lower your asking price a little bit.'” The Review Journal. “Following a prolonged hot streak, Las Ve...
A report from Yahoo Finance. “Personal finance expert Suze Orman thinks the housing market holds promise for U.S. consumers even though she says ‘the tables have turned a little.’ ‘You’re not going to see a house go on the market, again, in my opinion, and get 30 offers over the asking price,’ Orman said. ‘I think now maybe you’ll see three, four offers — maybe you have to lower your asking price a little bit.'” The Review Journal. “Following a prolonged hot streak, Las Ve...
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If you have a child who struggles with reading, I highly, highly recommend this ReadingIQ app! And this is a great opportunity to try it right now! (Psst! Don’t miss all these other great educational freebies you can score!) Try the ReadingIQ App for FREE! ReadingIQ is currently offering a FREE one-month trial to theRead More
It’s Friday desk clearing time for this blogger. “Since the end of the Great Recession, home prices in the Rochester area have pretty much gone in one direction: up. In the last several years, they’ve soared. But could that change soon? ‘I think there will be some adjustments, now that we see that overall prices are beginning to stabilize; knowing that, people may not be willing to grossly pay above list price,’ says Mike O’Connor, president-elect of GRAR. ‘I won’t say overprice...
It’s Friday desk clearing time for this blogger. “Since the end of the Great Recession, home prices in the Rochester area have pretty much gone in one direction: up. In the last several years, they’ve soared. But could that change soon? ‘I think there will be some adjustments, now that we see that overall prices are beginning to stabilize; knowing that, people may not be willing to grossly pay above list price,’ says Mike O’Connor, president-elect of GRAR. ‘I won’t say overprice...
A report from the Everette Daily Herald in Washington. “Active listings in Snohomish County more than doubled in May to 1,182, up from 500 a year ago. Sam Mansour, a broker with John L. Scott Lynnwood, said more sellers put their homes on the market to try to capitalize on high prices. ‘Usually a lot of sellers think the market is going to adjust and are trying to get ahead of that, while in reality they are a little bit too late,’ he said.” From Forbes. “Redfin chief economist Dar...
A report from the Everette Daily Herald in Washington. “Active listings in Snohomish County more than doubled in May to 1,182, up from 500 a year ago. Sam Mansour, a broker with John L. Scott Lynnwood, said more sellers put their homes on the market to try to capitalize on high prices. ‘Usually a lot of sellers think the market is going to adjust and are trying to get ahead of that, while in reality they are a little bit too late,’ he said.” From Forbes. “Redfin chief economist Dar...
There is approximately $539 million dollars allocated from federal funds to assist homeowners facing foreclosure and other financial issues. There are specific requirements regarding who is eligible for these funds. Homeowners who earn less than the average median income which is approximately $107,400 for a family of 3 are eligible to participate in this program. […]
There is approximately $539 million dollars allocated from federal funds to assist homeowners facing foreclosure and other financial issues. There are specific requirements regarding who is eligible for these funds. Homeowners who earn less than the average median income which is approximately $107,400 for a family of 3 are eligible to participate in this program. […]
The Spokane real estate market has been disproportionately unaffected by the presence of the Coronavirus. To be clear, that’s not to say real estate in Spokane hasn’t experienced any setbacks due to the presence of COVID-19, but rather that the city seems to have fared particularly well as the virus runs its course. In particular, new listings and pending home sales appear to have avoided the worst-case scenario. Activity remains “stable,” which is largely attributed to affordability, de...
The Spokane real estate market has been disproportionately unaffected by the presence of the Coronavirus. To be clear, that’s not to say real estate in Spokane hasn’t experienced any setbacks due to the presence of COVID-19, but rather that the city seems to have fared particularly well as the virus runs its course. In particular, new listings and pending home sales appear to have avoided the worst-case scenario. Activity remains “stable,” which is largely attributed to affordability, de...
