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Updated: 59 sec ago
Why is the government resisting principal mods? Because there is one big investor in MBS that the government is worried about – pension funds.
"My sense is that this is related to general risk reduction ahead of Wednesday’s FOMC announcement, Friday’s non-farm payroll report, and month end," David Varano of Interactive Data said. "Additionally, this could also be driven by certain investors looking to test the market after it appeared to easily absorb those two massive bid lists last week in order to gauge current demand levels."
The company’s second quarter earnings were up from $0.71 in 1Q14.
“But there are enough other positive signs that I am not altering my favorable forecast. If housing continues to be weak, I will probably have to change my view.”
During his May speech at the Brookings Institute, FHFA Director Mel Watt said that adjusting the way Fannie and Freddie securitize mortgages was one of his key goals. Now it appears that the FHFA may be one step closer to accomplishing that goal.
A Boston non-profit has another approach to principal reduction for troubled homeowners, and they say it’s fighting blight without involving anyone who doesn’t want to be involved, the Washington Post reports.
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
Moody's Investors Service has assigned provisional ratings to four classes of certificates backed by one floating rate loan secured by mortgages on 3,750 single family rental properties owned by the Invitation Homes 2014-SFR2 securitization.
A Texas man hoping to sell his home made a big mistake while posting an image of his home online. (Safe for work.)
The best directions in the world won't help you get somewhere if you don't know where you are standing. We could do without the media spin on the economy and housing.
Affordable housing is a worldwide challenge, even here in the United States. But when you think of it, people may have been playing with – and building – the very solution to the problem for going on 80-plus years.
"Bank servicers, such as Wells Fargo and JPMorgan Chase, have maintained a high (more than 90%) level of advancing on prime jumbo collateral," the analysts write. "However, nonbank servicers, such as Nationstar and Ocwen, have advance rates that are substantially lower and have been steadily declining over the past six months."
Greystone a leading national provider of multifamily and healthcare mortgage loans, today announced that Nikhil Kanodia has joined as a managing director.
Of note in the presale report is the vacancy rate of the underlying properties, which stands at 4.4% as of the cutoff date. That’s lower than the vacancy rate in Invitation Homes’ previous SFR securitization in 2014, which was 5.1%, but still far above the vacancy rate of any of the other rental securitizations this year.
With Detroit’s bankruptcy trial approaching, and many other cities still struggling to recover from the Great Recession, the personal finance social network WalletHub crunched the numbers to identify 2014's Most & Least Recession-Recovered Cities.
Federal regulations coupled with a general shift from refinance to purchase activities have resulted in historically low volumes of mortgage loan originations, even though home prices have continued to rebound and delinquency and foreclosure rates are at their lowest levels in years.
Kroll Bond Rating Agency assigns preliminary ratings to six classes of Invitation Homes 2014-SFR2 single-family rental pass-through certificates.
During a conference call on the deal, Rascoff said the real ad potential for the two companies, to make some serious profit, is working to move real estate marketing from offline to online.
Pending home sales dropped off in June, according to the National Association of Realtors, dropping 1.1% from May and falling 7.3% from June 2014 in the biggest decline in 2014 and the biggest miss of expectations in 2014 as well.
Homes prices continue to trend higher and are now just 11% off the 2006 peak of $268,000. Meanwhile, Colorado and Texas both hit new peaks in May, reaching $269,000 and $195,000, respectively.