Homebuyer affordability is even greater now with the fixed mortgage rates slipping to new record lows, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year fixed averaged 3.84 percent (0.8 point) for the week ending May 3, down from t…
News
Initial Unemployment Claims Drop Sharply
First time claims fell a surprising 27,000 to 365,000 for the week ended April 28, the Labor Department reported Thursday after revisions drove the prior week’s report up by 4,000 to 392,000, the highest level in five months. Economists had expe…
Phoenix Finds Its Way Out of the Downturn: A Model for Recovery
The Arizona capital of Phoenix was one of the hardest hit markets by the housing crisis, with home values plunging nearly 60 percent from 2006 through mid-2011 and foreclosure filings soaring. One analyst says it wasn’t too long ago that Phoenix was co…
Equifax Reports Delinquencies Decline in March
Total delinquent first mortgage balances are under $500 billion in March 2012, the lowest since January 2009, according to Equifax’s March National Consumer Credit Trends Report and Creditforecast.com, a joint product of Equifax and Moody’s Analytics. …
LoanSifter Hires VP of Business Development
LoanSifter hired Mark Coupland as VP of business development. In his new role, Coupland will his use previous experience running a secondary department and implementing technology to enhance the company’s solutions and increase awareness of its product…
Foreclosure Inventory Still High, but It’s Much Lower in Judicial States
While delinquencies saw a decline and reached their lowest level since August 2008, foreclosure inventory stayed near historic highs, according to data from the March Mortgage Monitor report released by Lender Processing Services (LPS). The rate for de…
Principal Reduction: A Matter of Analysis or Ideology for DeMarco?
Based on documents Reps. Elijah Cummings (D-Maryland.) and John Tierney (D-Massachusetts) received, Acting Director Edward DeMarco’s reason for not allowing principal reduction appears to be based on ideology, not analysis, according to a May 1 letter…
Freddie Mac’s Exec in Charge of Loss Mitigation Steps Down
After just over two years as executive vice president over the single-family mortgage business at Freddie Mac, Anthony Renzi is stepping down. According to documents filed with the Securities and Exchange Commission Monday, Renzi submitted his resignat…
DebtX White Paper Promotes Mark-to-Market Valuations in Stress Tests
According to a new white paper from DebtX, adopting mark-to-market loan valuations in stress testing reveals potential weaknesses in loan portfolios during times of economic hardship and can assist financial institutions in strengthening portfolio mana…
First Preston HT Appoints Lisa Barrentine as President and CEO
First Preston HT announced the appointment of Lisa Barrentine as president and CEO of the family of companies, which include First Preston Management, HomeTelos, BidSelect, HomeTracker, and Castle Peak Homes.
Barrentine first joined First Preston H…
