LATEST NEWS

FHA Announces First Look Initiative

July 12, 2010 (Chris Moore)

The U.S. Department of Housing and Urban Development (HUD) today announced a new initiative that gives state and local governments, and nonprofit organizations participating in HUD’s Neighborhood Stabilization Program (NSP) preference to acquire homes from the Department’s inventory of foreclosed properties, commonly known as “HUD homes.” The initiative was announced by HUD Secretary Shaun Donovan at the National Council of La Raza annual conference in San Antonio, Texas.

Read more…

FHA Mortgage Insurance Set To Go Up October 4th

September 12, 2010 (Shirley Allen)

Effective October 4th, FHA loans will see an increase in the monthly mortgage insurance premium. However, perspective borrowers will see a decrease in the Upfront Mortgage Insurance from 2.25 to 1.00 (100 basis points) on most FHA insured loans except Home Equity Conversion (HECM – “reverse mortgage”).

Read more…

FHA “Upside-Down” Refinance Program Begins September 7th.

September 3, 2010 (Shirley Allen)

The Federal Housing Administration’s (FHA) refinance program aimed specifically at homeowners who are “upside-down” begins on Monday September 7th. Participation and effectiveness remains to be seen, because like some of the other ‘bailout” programs qualifications and requirements could disqualify many who could benefit from the program.

Read more…

Mortgage Rates Continue to Hover at Historic Lows

September 3, 2010 (Chris Moore)

Average mortgage rates in the United States continued to hover at historic lows. Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, as did the 5-year adjustable rate in this survey.

Read more…

Freddie Mac Reports Home Prices Increased in 2nd Quarter

September 1, 2010 (Jeff Alan)

Freddie Mac reported on August 30th that there was a slight increase in home prices in the 2nd quarter of 2010. The Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series for the United States registered a 3.1 percent (13.2 percent annualized) increase in the second quarter relative to the first quarter on a not-seasonally-adjusted basis. U.S. home values fell 0.2 percent relative to the second quarter a year ago.

Read more…

Page 384 of 385« First...102030...381382383384385