U.S. seeks $2.1 billion from Bank of America
“The Justice Department is seeking $2.1 billion in fines from Bank of America related to mortgage fraud perpetrated by Countrywide Financial before it was purchased by BofA.”
Why the OCC is worried about looser lending standards
“A new report from the Office of the Comptroller of the Currency (OCC) is a definite study in contrasts.”
Disappointing pending home sales blamed on winter weather
“Is it the winter weather, a slowdown in housing or a combination of both that caused real estate contract signing to cool in December?”
Second REO-to-rental deal to raise millions, and questions
“With Bloomberg breaking news Tuesday night that American Homes 4 Rent, the nation’s second-largest single-family landlord, has tapped Goldman Sachs (GS) to arrange a bond backed by house rental payments, it looks like REO-to-rental as an asset class is here to stay a while.”
Don’t look now: Fannie, Freddie, Ginnie bonds are on a roll
“While the Federal Reserve continues to reduce holdings of mortgage-backed securities and Treasurys, the mortgage bond market is reacting well. Very well.”
Did Freddie just prove multifamily is making a comeback?
” Multifamily seems to be the buzzword of January.
Every time you turn around, there is another analyst report suggesting the sun is either shining on or about to shine on multifamily properties.”
Foreclosure Inventory Down 31% in 2013, Slow Progress Expected in 2014
“National foreclosure inventory fell 31 percent year-over-year in December, with 2.1 percent of all homes with a mortgage in some stage of foreclosure, according to CoreLogic’s December National Foreclosure Report.”
Mortgage Rates Down on Tepid Housing Numbers
“Fixed mortgage rates this week moved down to their lowest levels so far in 2014, according to surveys from Freddie Mac and finance site Bankrate.com.”
FOMC Moves Forward on Tapering
“In its first meeting this year, the Federal Open Market Committee (FOMC) voted to once again cut back on the Federal Reserve’s bond-buying program.”
Why the Real Estate Industry Is Interested in Drones, Too
“In this halting, vertigo-inducing video, you can watch a couple of guys from the creative agency Neoscape toy with their newly built drone, outfitted off the Boston Inner Harbor with a GoPro camera…”
Jobless claims rise more than expected
“(Reuters) – The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend suggested the labor market continued to heal.”