(WASHINGTON, D.C.) -- David G. Kittle, CMB, Chairman of the Mortgage Bankers Association (MBA) issued the following reaction to the release of guidelines and details for the Federal Housing Administration's (FHA) loan modification program under the Obama administration's Home Affordable Modification Program (HAMP).
"We are excited to have another tool that lenders can use to help borrowers who have the ability and desire to stay in their homes, do so. Allowing lenders to set aside up to 30 percent of the loan principal in an interest-free second mortgage will make it possible for lenders to reduce the monthly mortgage payment for thousands of troubled borrowers with FHA loans.
"Combined with the other programs that the administration has created, lenders now have more options than ever before to help delinquent borrowers. Data is showing that lenders are consistently helping more and more borrowers, and we expect that will continue with the addition of this new option."
It's a tale of two markets; distress home sales versus normalized sales, that is creating appraisal pricing issues in many markets across the U.S. today. According to a recent nationwide survey conducted by the National Association of Home Builders (NAHB), one out of three builders are reporting losing signed sales contracts during the preceding six months ...
Frank Nothaft Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), average fixed mortgage rates largely unchanged and near their record lows helping to keep housing affordability high for those borrowers who are in the market. The 30-year fixed...
The French Riviera ranks amongst the most stable second home markets in Europe. The upper market segment in particular is characterized by a level of demand that remains consistently high. According to Hamburg, Germany-based international real estate firm Engel & Völkers, prime locations in the French Côte d'Azur are reaching new price highs.
According to three leading U.S. economists, despite national and global economic headwinds, Florida's real estate market is entering 2012 on an upward trend. But clouds may be on the horizon. "Our state is in a mini-recovery," said Florida Realtors Chief Economist Dr. John Tuccillo at the state association's 2012 Real Estate and Economic Forecast Conference in Orlando.
Global economic turmoil since 2008 has led to sharply different responses from luxury developers around the world today, says Knight Frank's newly released 2012 Global Development Review Report. Knight Frank's reports shows luxury residential development in 14 key locations around the world reveals that 50%-60% of demand for newly-built property ...
(MIAMI, FL) -- According to the Miami Association of Realtors, October cumulative pending home sales - including single-family homes and condominiums - in Miami-Dade County were 10 percent above what they were a year earlier, up from 10,264 to 11,245, and 0.4 percent below the previous month, down from 11,296.
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