Just two months after matching its lowest reading in a year, the Trepp CMBS Delinquency Rate reversed course and is now close to matching the highest reading of all time. At 9.80 percent, the April 2012 rate for 30-day plus delinquencies is just 8 basi…
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Foreclosures Down to 69,000 in March, Inventory Also Down
Year-over-year, the number of completed foreclosures decreased about 19 percent to 69,000 in March 2012 compared to 85,000 in March 2011, according to CoreLogic’s National Foreclosure Report for March. Month-over-month, with the number of completed fo…
MGIC Settles Over Allegations of Discrimination Against Women
The Justice Department settled its first lawsuit involving discrimination against women and families in the mortgage insurance industry Monday. The lawsuit was against Mortgage Guaranty Insurance Corporation (MGIC) for discriminating against women on m…
REO Prices Increase, Fair Market Prices Drop, Home Values Stabilizing
According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market sales prices dropped 2.9 percent. The real estate data provider explained that demand for REOs is most likely causing the increase in pri…
NAREB Forum on Minority Housing Draws Congressional Support
Studies indicate the foreclosure crisis and its community-debilitating aftereffects are having a disproportionate impact on minorities and minority-owned real estate businesses. The National Association of Real Estate Brokers (NAREB), the oldest Africa…
FAS Appoints Donald F. Neville as CFO
Field Asset Services (FAS) appointed Donald F. Neville as CFO to oversee all finance and accounting functions for the company.
AHMSI and Compliance Connections Form Partnership for Code Issues
American Home Mortgage Servicing(AHMSI) partnered with Compliance Connections, a division of Safeguard Properties, to be more proactive when dealing with code issues for its property portfolio. Compliance Connections offers a web-based portal, allowing…
Banks Resume Mortgage Tightening Lending Standards
With an upsurge in demand, banks resumed tightening standards for residential mortgage loans, the Federal Reserve reported Monday (April 30) in its quarterly survey of bank lending standards. According to the survey, a net 30.2 percent of banks surveye…
Regulators Shut Down Five Banks Friday, Raising 2012 Tally to 22
After what seemed to be a slow month for bank closings, with just one closing April 20, the FDIC announced five bank closings Friday, raising the national tally of failed banks to 22 so far this year. Regulators ceased operations for Bank of the Easter…
Homeownership Rate Falls to 15-Year Low
The nation’s homeownership rate (seasonally adjusted) dropped to 65.4 percent in the first quarter, its lowest level since the first quarter of 1997, the Census Bureau reported Monday. The homeownership rate fell in all four census regions in th…
