According to refinancings through the Home Affordable Refinance Program (HARP) increased 26 percent in the third quarter of 2010.
In addition, Fannie Mae and Freddie Mac loan modifications through the Home Affordable Modification Program (HAMP) increased 16 percent in the quarter, although the overall volume of loan modifications and the pace of HAMP modifications declined from previous periods. The data released in FHFA's Third Quarter 2010 Foreclosure Prevention & Refinance Report includes data on all of the Enterprises' foreclosure prevention efforts.
Findings of the Report include the following:
Loans modified in the last three quarters are performing substantially better three months after modification, compared to loans modified in earlier periods.
More than half of the loan modifications completed in the third quarter lowered borrowers' monthly payments by over 30 percent.
Loans that are 30-days delinquent increased by 17,600 loans or 2.7 percent during the third quarter to approximately 682,000.
Loans 60-plus-days delinquent declined for the third consecutive quarter. The 60-plus-days delinquent loans decreased by 109,700 loans, or 6.8 percent during the third quarter to approximately 1.5 million.
Nearly 35,400 HAMP trial modifications transitioned to permanent during the third quarter bringing the total number of active HAMP permanent modifications to nearly 260,000.
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.
Join 34,000+ real estate professionals worldwide who receive our free weekly newsletter