Source: The New York Times Home buyers may face an unexpected delay or cancellation of their loan if subsequent financial activity raises any red flags for lenders, especially since Fannie Mae now requires a borrower’s credit to be rechecked right… Continue Reading
Five of the largest U.S. mortgage servicers are falling short when it comes to meeting the new rules of last year’s $25-billion national mortgage settlement. According to the settlement’s official monitor, Joseph A. Smith Jr., an investigation revealed insufficient compliance… Continue Reading
Source: HousingWire Approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, according to the CoreLogic first quarter home equity report. Read the full story
Source: Default Servicing News While 22 percent of American admitted they have never checked their credit report, nearly a quarter also said they have encountered issues with their credit report, with incorrect or outdated negative marks leading as the main… Continue Reading
The housing industry in California is in recovery mode and multiple offers and bidding wars are now the norm in many markets. The state median home price continued its year-over-year increase in April for the fourteenth consecutive month at $402,760,… Continue Reading
Scammers are scraping rental listings off the Internet and using real estate agents’ identity from the listings to dupe would-be clients. Scammers are reportedly taking rental listings off of websites and reposting them at lower rent than the original listing.… Continue Reading
When the housing market descended, house flippers went into hibernation. Now, as the recovery creeps along, bargain-hunters are once again looking for homes to fix up and resell for a quick profit Read the full story
Five major banks continue to pursue foreclosures against borrowers seeking loan modifications and fail to provide a single point of contact, according to a survey by the California Reinvestment Coalition. Read the full story