Mortgage and Real Estate News
Freddie Mac Weekly Rate Survey
Fannie Mae Headlines
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h1 text. PrintEmail. News Release. February 06, 2012. Fannie Mae Redemption.
Katherine Constantinou. 202-752-5403. WASHINGTON ... -
h1 text. PrintEmail. News Release. February 06, 2012. Fannie Mae Weekly
Yield. Katherine Constantinou. 202-752-5403. WASHINGTON ... -
h1 text. PrintEmail. News Release. February 03, 2012. Fannie Mae Redemption.
Katherine Constantinou. 202-752-5403. WASHINGTON ... -
h1 text. PrintEmail. News Release. February 02, 2012. Fannie Mae Redemption.
Katherine Constantinou. 202-752-5403. WASHINGTON ... -
h1 text. PrintEmail. News Release. February 02, 2012. Benchmark Notes.
Katherine Constantinou. 202-752-5403. Fannie Mae ... -
News Release - Fannie Mae and its Lenders Finance $24 Billion in 2011 |
Fannie Mae. PrintEmail. New Release. February 02, 2012. ... -
h1 text. PrintEmail. News Release. February 01, 2012. Benchmark Notes.
Katherine Constantinou. 202-752-5403. Fannie Mae ... -
h1 text. PrintEmail. News Release. January 31, 2012. Fannie Mae Releases
December 2011 Monthly Summary. Pete Bakel. 202-752-2034. ... -
h1 text. PrintEmail. News Release. January 31, 2012. Fannie Mae Redemption.
Katherine Constantinou. 202-752-5403. WASHINGTON ... -
h1 text. PrintEmail. News Release. January 30, 2012. Fannie Mae Weekly
Yield. Katherine Constantinou. 202-752-5403. WASHINGTON ...
Yahoo Real Estate News
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AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the former Massachusetts governor to Obama. -
Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
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AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while saving banks over $2 billion.
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Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.
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Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.
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AP - The CEOs of some of the nation's biggest homebuilding companies said Thursday that they feel the housing market has stabilized.
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AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
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Reuters - A former foreclosure counselor who gambled away more than $300,000 she stole from her upstate New York clients was sentenced on Thursday to six years in federal prison.
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Reuters - The attorney general in Illinois on Thursday sued a mortgage document firm and said it filed "faulty" documents with local governments in a rush to process mortgages and foreclosures.
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AP - Mortgage rates for the past 52 weeks, at a glance
The Economist
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“WE’VE been waiting for this day for 30 years,” said Nicolas Sarkozy, France’s president, on the news this week that India had gone into exclusive negotiations with Dassault Aviation, a French...
CNBC Realty Check Real Estate Headlines
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While homeownership may be a tenet of the “American Dream,” renting is today’s actuality for a growing number of Americans.
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It will go through the government mortgage insurer, the Federal Housing Administration and could cost between 5 and 10 billion dollars, according to senior administration officials.
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Late Friday the U.S. Treasury Department announced a major expansion of its Home Affordable Modification Program. Now taxpayers will pony up the cash, as Treasury is tripling the financial incentives to lenders and opening the program up to Fannie Mae, Freddie Mac and investors in rental properties.
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Anyone with any cash in hand should be buying a house right now. That’s what any real estate agent will tell you, obviously, but that’s also what many investors now believe. Unfortunately, the potential home-buying public…isn’t buying it.
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The number of new foreclosures in 2011 dropped nearly 40 percent, according to year-end numbers just released by Lender Processing Services; there is, however, little cause for celebration.
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President Obama announced he was ordering the U.S. Attorney General to create a “Financial Crimes Unit,” its number one task being to go after the banks for faulty mortgage originations and securitizations.
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If the theme of tonight’s State of the Union address is fairness, then President Obama would be wise to steer clear of housing; most of the proposals to fix the nation’s still struggling real estate market are intrinsically unfair to a large majority of Americans.
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After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are current on their mortgages, regardless of who owns their loan; the catch is that this one has to go through Congress.
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The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts.
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If there is a deal, beyond the politics, it could have a larger effect on the state of the housing market and its recovery.
Daily Real Estate Quick Headlines
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Beat the Competition in Buying Foreclosures2012-02-06 07:00
Are your buyers' bids continuing to fall short when trying to purchase a foreclosure? Low-cost REOs can attract multiple bids from investors and all-cash buyers. How can your buyer beat the competition?
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More Housing Aid For Military Families2012-02-06 07:00
Hope Now expands its services to help military families who are at risk of foreclosure due to relocation for their jobs or other circumstances.
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New Appraisal Tool for Solar-Powered Properties2012-02-06 07:00
Homes with photovoltaic (PV) systems have historically been hard to appraise if there weren't other PV systems nearby. PV Value is a new resource that assesses the worth of solar-power homes with market and lending data.
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New York AG Sues MERS, Banks Over Foreclosures2012-02-06 07:00
Another state has joined the fight against using the Mortgage Electronic Registration System to process foreclosures.
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Twitter, Facebook: For Business or Addiction?2012-02-06 07:00
Real estate professionals spend a lot of time on social networking sites to connect with clients. But could turn into an addiction? A new study suggests "yes."
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Will the Real Estate Market Heat Up This Spring?2012-02-06 07:00
Spring will be here soon enough, and the season traditionally brings a pickup in buying and selling for the housing market. What will this spring hold?
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Bernanke Defends Keeping Rates Low for 3 More Years2012-02-03 07:00
Some lawmakers questioned Thursday the Federal Reserve's move to keep interest rates low until 2014, saying it brings a risk of higher inflation and stymies economic growth.
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Did Builders Overbuild Oversized Houses?2012-02-03 07:00
Too many big houses are occupying the country's landscape as more consumers shift their preferences toward condos, apartments, and smaller homes, planners said at a smart growth conference this week.
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Fannie Mae Gains More Short-Sale Authority2012-02-03 07:00
Several mortgage insurers have removed another barrier in short sales that could speed approval of short sales on Fannie-backed loans.
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Mortgage Rates Hit New Lows Again2012-02-03 07:00
Mortgage rates once again inched lower this week, lowering the cost of borrowing and increasing housing affordability.
Department of Housing and Urban Development
WASHINGTON-U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Utah and provide support to homeowners and low-income renters forced from their homes following severe storms in November and December.
WASHINGTON-U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Alabama and provide support to homeowners and low-income renters forced from their homes following severe storms, straight-line winds and flooding last month.
WASHINGTON - Hundreds of very low-income senior citizens will have access to affordable supportive housing thanks to $31.5 million in housing assistance announced today by the U.S. Department of Housing and Urban Development (HUD). The funding announced today (see attached list) will help non-profit organizations in five states produce additional accessible housing, offer rental assistance, and facilitate supportive services for the elderly.
WASHINGTON - A rental assistance program that temporarily housed nearly 20,000 families who were displaced by Hurricanes Ike and Gustav in 2008 officially ends today with only 3,500 households still enrolled in the program. To help these families find permanent housing solutions, the U.S. Department of Housing and Urban Development (HUD) will provide $28 million to convert eligible families to its Housing Choice Voucher (HCV) program.
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today new regulations intended to ensure that HUD's core housing programs are open to all eligible persons, regardless of sexual orientation or gender identity. Donovan previewed the announcement at the 24th National Conference on Lesbian, Gay, Bisexual and Transgender (LGBT) Equality - Creating Change.
WASHINGTON - The U.S. Department of Housing and Urban Development today awarded $20 million in technical assistance funding to 12 organizations that will, in turn, help local communities across this country stabilize neighborhoods hard-hit by foreclosure through HUD's Neighborhood Stabilization Program (NSP).
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging the owner of a 24-unit apartment building in Holyoke, Massachusetts, with housing discrimination for denying units to families that have children. HUD's charge alleges that Nilma Fichera, who owns and manages New York-based N.A.G. Realty, LLC, violated the Fair Housing Act when she refused to show or rent apartments to families with children because she could not certify that the building was free of lead-based paint.
DETROIT -U.S. Housing and Urban Development Assistant Secretary Sandra B. Henriquez today joined Detroit Mayor Dave Bing to announce a transition plan to return the Detroit Housing Commission to local control. HUD assumed control of the agency in 2005.
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today allocated $400 million in emergency aid to help communities in eight states to recover from presidentially declared natural disasters in 2011. Provided through HUD's Community Development Block Grant (CDBG) Program, these grants will support long-term disaster recovery efforts in areas with the greatest extent of 'unmet need.'
WASHINGTON - Today, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante announced the latest in a series of steps to protect and strengthen the FHA's Mutual Mortgage Insurance Fund, while enabling the agency to continue to fulfill its mission to provide access to homeownership for qualified borrowers.
The Economist Blog
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FOR the past few months the Centers for Disease Control and Prevention (CDC) has been warning that America is facing an "epidemic" of prescription-drug abuse. At the Huffington Post, Radley Balko argues that the crisis is overblown, and that America's anti-drug policies are getting in the way of its public-health response to the problem of chronic pain:
There's no question that prescriptions for opioid painkillers like Oxycontin and Percocet have soared in recent years. It's also clear that there are some rogue doctors and "pill mills" who unscrupulously hand out prescriptions, sometimes to patients who shouldn't get them, sometimes to drug addicts and drug dealers pretending to be pain patients. But it's also far from certain that the painkiller abuse and overdoses are as dire as the government is making it out to be. And to the extent that there is a problem, it's due more to a decade of aggressive policing, obstinate federal law enforcement agencies, and the encroachment of law enforcement into the practice of medicine than lax government oversight. The DEA in particular...
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MATTHEW YGLESIAS writes that he hasn't gotten too exercised about the New York Times' article on the plight of the Chinese workers who make Apple products because he's seen what it's like to work on a Chinese farm. Fair enough. Mike Daisey, the tech enthusiast/performance artist whose piece "The Agony and the Ecstasy of Steve Jobs" has partly touched off the current anti-Apple/anti-Foxconn backlash, talks about standing outside the gates at a Foxconn plant talking to workers who slave terrible hours under mind-destroying conditions, doing things that cripple their bodies. My reaction was to recall the time I spent standing outside the gates talking to workers at the world's biggest laser-printer factory, Canon's plant in... -
AN UPDATE to the previous post about the rift between Susan G Komen for the Cure and Planned Parenthood: Komen has announced that it will continue to work with Planned Parenthood. The reversal follows several developments, including, crucially, Jeffrey Goldberg's reporting at the Atlantic that the policy that Komen had initially cited in cutting off the funding—the policy of not giving any funds to organisations that are under investigation—was actually a new policy created in order to cover its desire to cut off the funds in question.
The debate over this will continue; unsurprisingly, both Komen and Planned Parenthood have raised a lot of money...
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IMAGINE you head a municipal utility company. Your coal-fired power plant is aging. Your plant is among the 47% of American plants that have not yet installed the scrubbers needed to bring it into compliance with new EPA regulations. You therefore face a choice. Do you a) install the scrubbers, b) build a new coal-fired power plant, c) build a natural-gas-fired power plant or d) invest in solar or wind power? All four options are expensive, and none is perfect, but the latter two, in most circumstances, are clearly the better options.
Two weeks ago I wrote an article arguing that we are in or nearing the end of the American coal era. The country's coal-fired power plants are aging; natural gas abounds; the installation costs of renewables are falling; and environmental regulations are growing stricter and being properly enforced. Coal may well continue to provide more energy than any other single source for some decades to come, but it will probably never again generate the majority of America's energy, as it did for much of the 19th and all of the 20th centuries. Still, coal will not vanish overnight. Neither will mountaintop-removal mining, which now accounts for much of the coal Appalachia produces. But, as this...
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ROSS DOUTHAT, making a communitarian argument that government expansion comes at the expense of voluntaristic association, writes:
Every tax dollar the government takes is a dollar that can’t go to charities and churches.
A good rule of blogging discourse is that you should respond to the main thrust of a post, rather than tangential nitpicky issues. But I'm going to break that rule for reasons I'll explain later, and point out that this claim here is just transparently not true.
Let's say I'm a reasonably generous person, and I give 5% of my disposable income to charity. Say I have $10,000 in disposable income, so I give $500 a year to charity. Now the government raises my taxes by one dollar, so I have $9,999 in disposable income. How much will I give to charity? I would have to be extremely weird or vindictive, or have a strange emotional relationship to the recipients of my benevolence, to take the entirety of that $1 out of my charitable giving. In all likelihood I'll continue to give 5% of my disposable income to charity, meaning I'll give $499.95 to charity. So for someone who gives 5% of disposable income, every dollar...
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IN THE latest edition of the New Republic, Robert Kagan, a senior fellow at Brookings and noted Kagan, serves up a ponderous rebuttal to the proposition that America is in decline. I don't disagree with Mr Kagan that America remains, for the foreseeable future, securely hegemonic, which is the thesis he is most anxious to establish. But I am sceptical of Mr Kagan's assumptions about why American unipolarity must be so jealously protected, which he announces at the outset of his essay:
The present world order—characterized by an unprecedented number of democratic nations; a greater global prosperity, even with the current crisis, than the world has ever known; and a long peace among great powers—reflects American principles and preferences, and was built and preserved by American power in all its political, economic, and military dimensions. If American... -
AFTER Mitt Romney's bruising victory over his rivals in the Florida primary, our correspondents debate whether he is now the inevitable Republican nominee
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IN AN article I wrote last week on Alabama's immigration law, I referred to Samuel Addy, an economist at the University of Alabama who was trying to determine the overall costs of the law. Mr Addy has just released his cost-benefit analysis, and it makes for compelling—and, at nine pages, brief—reading, for the law's supporters and opponents alike. Blissfully free of the moralising, hyperbolic language that both sides of this debate too often use (the police are not the Gestapo; undocumented immigrants are not a horde of disease-ridden scofflaws), Mr Addy seeks to provide information that will let legislators and Alabamans determine whether the law is worth the costs it imposes. He is scrupulously fair-minded.
First, the potential benefits of the law. Mr Addy identifies four: savings from the costs of providing services to illegal immigrants, increased safety, more "business, employment and education opportunities for legal residents" and "ensuring the integrity of various governmental programs and services". To those I might suggest adding a fifth, one routinely brought up by supporters of laws such as Alabama's: the...
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FAIRNESS played a central role in Barack Obama's state-of-the-union address, and I suspect it will play a central role in the president's re-election campaign. But what does Mr Obama have in mind when he deploys the f-word? It may not be the case that fairness is, as Scott Adams, the creator of Dilbert, puts it, "a concept invented so dumb people could participate in arguments". But it cannot be denied that fairness is an idea both mutable and contested. Indeed, last week's state-of-the-union address seems to contain several distinct conceptions of fairness worth drawing out and reflecting upon.Toward the beginning of his speech, as Mr Obama was trying to draw a parallel between post-second world war America and today's post-Iraq war America, he offered this rather stark choice:
We can either settle for a country where a shrinking number of people do really well while a growing number of Americans barely get by, or we can restore an...