Title defects have become a major cause for concern for the mortgage industry. To make things smoother, Nationwide Title Clearing revamped its website and added online ordering of several critical property record documents.
Home price gains have been slowing and now Bloomberg confirms what we’ve been seeing. None of the 100 largest U.S. metropolitan areas had increases of more than 20% in residential asking prices last month.
Although the foreclosure crisis was five years ago, struggling borrowers have a new threat to worry about: lawyers who say they are acting in their best interest.
Fannie Mae’s book of business shrank again in April, continuing an uninterrupted streak of declines that started at the end of 2013. According to the enterprise’s volume summary report, the book’s total value contracted in April at a compound negative growth rate of 2.7 percent. The latest drop brings the book’s average year-to-date growth rate to -2.3 percent.
The nation’s domestic economic output for the first quarter was revised downward last week, posting a contraction of -1.0% from a meager positive 0.1% initially reported.
RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices.
The post Bank Foreclosures Listed Far Below Regional Selling Prices appeared first on DSNews.com.
Home flipping isn’t the share of home sales it used to be; it stood at 3.7% of the total homes sold in the first quarter of 2014. But there’s still gold in them thar hills, so to speak, as profits from flipping a house are up to 30%. Notably though, the returns in the top 14 markets are more like 70-80%.
Foreclosures continue to be a national problem, and one metro’s City Attorney thinks a large chunk of the problem came from discrimination. Los Angeles City Attorney Mike Feuer is suing one of the nation’s largest banks, JPMorgan Chase, alleging the bank engaged in discriminatory lending.
The post JPMorgan Chase Sued for Discriminatory Lending Practices appeared first on DSNews.com.
The stall out in household formation is one of maybe half a dozen primary factors hurting housing sales, and Dr. HousingBubble goes deep into the problem.
First-time buyers know owning is a better investment than renting, but the type of homes first-time buyers are looking for are being kept off the market in part because nationally, those homes are almost three times more likely to be underwater than the most expensive homes.