News

Initial Unemployment Claims Drop to Four Year Low

First time claims for unemployment insurance fell 5,000 to 348,000, a four-year low in the week ended March 17 and the second straight weekly decline, the Labor Department reported Thursday. Data for the prior week was revised upward, to 353,000 fro…

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Rate of Properties Entering Shadows = Rate of Properties Finding Light

The current rate at which mortgage borrowers are falling into serious delinquency closely matches the rate of distressed sales – short sales and REO sales – according to CoreLogic’s latest report released Wednesday. While distressed sales are keeping t…

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Survey Suggests More Homeowners Are Open to Strategic Default

An alarming number of homeowners see strategic default as a viable option should their home continue to depreciate. Almost half – 47 percent – of homeowners participating in an online poll from Housing Predictor say they will walk away from their mortg…

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MBC to Make Company-Specific App for RFS

Mobile Business Concepts (MBC) and Reliance Field Services (RFS) struck a technology agreement for the creation of an app to increase the efficiency of RFS contractors as they send and receive work orders. MBC is designing a company specific app called…

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Weltman, Weinberg & Reis Co. Hires New Associate in Ft. Lauderdale

Weltman, Weinberg and Reis Co. brought a new associate on board to its Ft. Lauderdale office. Ana Cosculluela practices in the real estate default group with a focus on real estate title and closing services. Cosculluela’s specialties include residenti…

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Number of Overdue Mortgages Drops to 5,846,000

The number of delinquent mortgages continued declining into February based on comparisons for both the prior month and year, according to data from Lender Processing Services (LPS). The delinquency rate, which consists of loans at least 30 or more days…

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Zillow Survey: Prices Projected to Fall 0.7%, but Rise Next 4 Years

Home prices are projected to fall 0.7 percent this year, a more negative expectation than the 0.2 percent decline economists previously anticipated, according to the March 2012 Zillow Home Price Expectations Survey. Economists in the survey did express…

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Existing-Home Sales Dip in February as Prices Rise, Inventories Increase

Existing-home sales fell in February from an upwardly revised January sales pace, the National Association of Realtors (NAR) reported Wednesday. February sales – completed transactions – were down 0.9 percent from January to a seasonally adjusted annua…

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Foreclosure Counseling Agencies to Receive $73.8M

NeighborWorks America announced $73.8 million in awards for foreclosure counseling efforts this week, which followed HUD’s recent revelation of $42 million to support housing counselors. This latest round of funding will go to 32 state agencies, 18 HUD…

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DataQuick Introduces PortfolioQ to Help Equity Lenders

In response to the need for in-depth portfolio analysis, DataQuick announced the introduction of PortfolioQ in a company release. The hosted solution provides equity lenders with an in-depth analysis of outstanding liens against the property to accurat…

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