Freddie Mac: Threat of shadow inventory subsides, home prices rise

MBA: New home purchase applications slip back down MBA: New-home sales pick up to end summer Mortgage applications for new-home purchases dropped in August and was running behind the level a year ago, but the pace of sales has picked up, the Mortgage Bankers Association (MBA) reported..

What It Costs To Live In San Francisco | Making It A lower supply of inventory and fewer distressed sales led to stronger home price gains across the country, the National Association of Realtors (NAR) revealed in a recent report. On a national level, the median price for existing single-family homes increased 7.6 percent to $186,100 in the third quarter of this year compared to last year.

HSBC yanks massive PHH mortgage servicing portfolio June Kudos: Celebrating milestones, launches and awards in the mortgage industry LenderClose, a digital lending platform for credit unions and community banks, has hired two associates to its team, naming Erika DeMers sales associate and David Stiennon senior front-end developer..

CoreLogic estimates there is a shadow inventory of 1.6 million homes, which is the biggest drag on prices. There is still waaaaay to much supply out there. There is no reason to jump in – even if the bottom is now (its not), there will be no meaningful increase in prices for years. Is the shadow inventory threat overstated?. threat of shadow inventory subsides, home prices rise.. role in supporting the mortgage market through Fannie Mae and Freddie Mac..

Changes to increase the number of refinances through government subsidized Fannie Mae and Freddie Mac are contributing to a cut in the number of homeowners at risk. But high unemployment remains the key obstacle to slow the flood of homes that are defaulting. Without an increase in the level of employment the crisis will sustain.

Posts about Freddie Mac written by esisolutions. By Jeffery Marino Oct 1st, 2010 The two largest holders of real estate owned property (REO) in the country, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), are biting their nails as their REO inventory grows while the real estate market shows all the signs of softening.

The median price of an existing home climbed 10.1 percent to $177,400 from $161,100 in April 2011, the strongest year-to-year gain since January 2006. The median price in April reached its highest.

The company released the results of its most recent home price expectations survey, showing that economists surveyed expect home prices to rise by a total of 2.3 percent during 2012. This change in sentiment is a major turnaround from June, when respondents predicted home prices would experience a net decline this year.

(The full results of the Journal’s July survey will be released at 2pm ET) Housing is still far from healthy despite the Federal Reserve’s efforts to resuscitate it by helping to push mortgage rates to extraordinary lows: 3.62% for a 30-year loan, according to Freddie Mac’s latest survey. Single-family housing starts, though up, remain 60.

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