According to TransUnion’s latest mortgage delinquency report, the rate of borrowers 60 days of more delinquent on their mortgages ended the fourth quarter of 2013 at 3.85%.
“It’s encouraging to see the mortgage delinquency rate drop for two consecutive years, but at the same time, mortgage delinquencies continue to be twice as high as levels observed prior to the housing bubble,” said Steve Chaouki, head of financial services for TransUnion. -- Brena Swanson in HousingWire
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Since Jan. 18, the CFPB's amendment to Regulation B hasrequired lenders to send loan applicants free copies of "all written property valuations" created to support a mortgage credit application. That includes appraisals, automated valuation models and broker price opinions.
Hence DataQuick is offering alternative data support to lenders trying to comply with the new CFPB requirement. It has updated its online property intelligence portal, PropertyFinder 2G, so users can customize comparable sales data and analysis to accurately assess the property without generating a valuation estimate subject to the notification requirement. -- Amilda Dymi in Origination News
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Johnstown Castle Gardens, Ireland
Shared by Tina En
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New single-family homes recorded a sharp uptick in January, running at a seasonally adjusted annual rate of 543,000, according to the latest findings from the Mortgage Bankers Association’s Builder Applications Survey.
“It is also worth noting that the significant January increase also followed a particularly slow pace of sales in November and December,” Fratantoni continued.
Meanwhile, the estimated 543,000 unit sales pace for January increased 35% from December’s pace of 402,000 units.
The average loan size of new homes decreased from $300,444 in December to $289,358 in January. -- Brena Swanson in HousingWire
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Crowdfunding Real Estate, with the SEC's Blessing
Now a New York startup is trying to harness the power of the Internet to raise capital for real estate developments, with less risk and greater transparency for the small-time participants than most crowdfunding platforms.
Investments start at $100. Groundfloor connects independent developers seeking alternative funding outside the traditional banking structure with mass-market investors. Interest rates offered to investors are determined by an algorithm that benefits the earliest who pledge to invest. For example, more than 69 investors are currently set to earn 8.75% interest or more on the inaugural Groundfloor project. "The offered rate decreases incrementally as projects near full funding." -- Amilda Dymi in Origiantion News.
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Landschaftspark Duisburg
Shared by Ralph Leuschner
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"My single-family forecast for 2014 is pretty aggressiv—822,000 starts which is likely 200,000 more than 2013," said NAHB Chief Economist David Crowe. "There are five key points to the turnaround. Consumers are back, pent-up demand is emerging, there is a growing need for new construction, distressed sales are diminishing and builders see it." -- Shared by Sonja Bullard in Angle Oak Weekly.
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The debate continues over how much the weather is really to blame for the poor December and January economic numbers – ranging from job creation and retail sales to home sales and home starts – and now our friends at Trulia (TRLA) have weighed in on the subject......
Finally, housing activity tends to bounce partway back the month after bad weather (unless that next month is unusually bad, too). Rain and cold don’t last forever, and neither do their effects on housing. Therefore, bad winter weather will only delay some construction and sales activity, rather than make it disappear. Severe winter weather may cause housing activity to wobble, but cold, rain, and snow won’t hobble the housing recovery. -- Trey Garrison in HousingWire
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Lunenburg, Novia Scotia
Shared by Nancy Dempsey
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Mortgage rates now between 4.3% and 4.75% and trickling up. -- Geoff Smith
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Nat'l Real Estate Post:
Last week we reported that high level investment execs have been killing themselves. Two of those guys were from Chase and now yet another Chase banker has decided it would be better to jump off a building in Hong Kong rather than go to work the next day. That’s three from Chase in the past few weeks. One jumped off a cliff and the other two jumped off of buildings.
And what if you bank there, or have a mortgage there, does it make you concerned that this most unusual activity is happening within the walls of one of your financial institutions? Is there something coming your way that you should be concerned about? Well, let us know what you think about all this down below and to learn more watch the video above.
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Castle in Trevejo, Spain
Shared by Xalima Miriel
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Auction.com and the National Association of Hispanic Real Estate Professionals are joining forces to advance sustainable Hispanic homeownership.
NAHREP promotes Hispanic homeownership by educating and empowering the real estate professionals who serve Hispanic buyers and sellers. The partnership will help real estate professionals and their clients take advantage of opportunities to buy and sell through Auction.com. -- Trey Garrison in HousingWire
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The oldest Slovenian castle, Bled castle is a medieval castle perched on a rock and rises 130 meters over the glacial Lake Bled in Bled, Slovenia. The castle dates back to the 11th century with most of the present structure coming from the 16th century. The castle forms a dramatic backdrop to the romantic island and the beautiful area set against the Julian Alps makes it a popular tourist destination.
Shared by Yen Baet
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Fannie Mae reports $84.8 billion income for 2013 and $6.6 billion for 4Q13
Payments to Treasury finally exceed bailout amount
Fannie Mae reported annual net income for 2013 of $84 billion, which includes the release of the company’s valuation allowance against its deferred tax assets, and annual pretax income for 2013 of $38.6 billion.
Fannie Mae reported net income of $6.5 billion for the fourth quarter of 2013, the company’s eighth consecutive quarterly profit, and pretax income of $8.3 billion for the fourth quarter of 2013.
Fannie Mae will pay Treasury $7.2 billion in dividends in March 2014.
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Shared by Uros Kralj
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Housing starts dropped in January, but what would you expect with all that snow on the ground? I don't know of any contractors who would even try. Just wait until the weather warms up and housing starts will explode. JPierce
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Nat'l Real Estate Post: Zig Ziglar says that 84% of all salespeople have some sort of call reluctance. We think it’s more, don’t you?
http://thenationalrealestatepost.com/enough-with-the-call-reluctance-already/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheNationalRealEstatePost+%28The+National+Real+Estate+Post%29
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Bandra-Worli Sea Link, shared by Rajinder Jindal
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