Mortgage Credit Availability Reaches 3-Year High



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Access to mortgage credit is at its highest level in at least three years, and credit standards are expected to loosen even more this year, according to a newly-released index by the Mortgage Bankers Association.

Foreclosures Increase As Banks Get Busy



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Foreclosure activity rose last month by 4 percent, but it remains at the lowest level since 2007, RealtyTrac reports in its latest U.S. Foreclosure Market Report.

Shadow Inventories Disappearing Fast



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For the past three years, the shadow inventory has declined year-over-year and posted double-digit declines for the past 16 consecutive months as the housing market continues to heal.

‘Pre-Underwriting’ Borrowers To Compete with Cash Buyers



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Some lenders are helping buyers better compete. Known as “pre-underwriting,” they’re putting loan applications through a more thorough venting process before the buyer even enters into a contract for a home.

NAR President Steve Brown Leads Call For GSE Reform



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This is the time to move forward on reform of the secondary mortgage market and finally settle the issue to “bring stability to this market, which is critical.”

Boomers And Reverse Mortgages – Another Crisis In The Making?



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Every time I see one of those reverse mortgage commercials on television – especially the one with Fred Thompson – I have to fight the urge to throw something at the TV.  I’ll come out of the closet and admit it, I hate reverse-mortgage commercials with a passion that is difficult to describe. For one […]

Why You Should Avoid Dual Agency Deals



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Certainly most real estate professionals are exactly that, professionals. Still, there are real estate arrangements that you should avoid just to prevent the temptation for professionals to manipulate the deal. The most prominent is dual agency. Dual agency is when one real estate office represents both the seller and the buyer in the same deal. […]

Fannie Mae Foreclosure Specialist Goes On Trial For Soliciting Kickbacks



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A former Fannie Mae employee is going on trial this week after being accused of soliciting kickbacks from a real estate broker in exchange for foreclosure listings. Armando Granillo, a former foreclosure specialist at Fannie’s western regional office in Irvine, Calif., is arguing in court that he thought such practice was commonly accepted behavior.

Fannie, Freddie Agree Housing Finance Overhaul



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A plan to restructure the secondary mortgage market has emerged from the United States Senate Committee on Banking, Housing and Urban Affairs. Banking committee chairman Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, say their plan includes a government guarantee for mortgages, but only after private investors take the first losses

Subprime Market Grows Stronger As More Lenders Jump In



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More lenders are jumping into the subprime loan market again, ready to give borrowers with flawed credit another shot at the housing market.