Tag Archives: foreclosure

FNC Report: Housing Recovery Takes Hold for the Long Haul

Posted on February 18, 2013 by FNC

housing-recovery
Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul.
According to FNC’s Foreclosure Market Report, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising… Continue reading

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Happy Fiscal New Year: An origination-foreclosure-forgiveness-money-back potpourri

Posted on October 1, 2012 by Nora Brown

Happy Fiscal New Year.

Last week it was announced that new home sales are up, at a seasonally adjusted annual rate of 373,000. From the bottom, that number is up nicely. But from the top, it’s way down. (Source: Calculated Risk)

As there were 141,000 new homes for sale last month, FNC’s Bob Dorsey says it should take four-and-a-half months until that inventory is clear.

Continue reading

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Weekly Wrapup: Halfway In, Halfway Out, or Stuck in the Middle…

Posted on November 18, 2011 by Joe Meek

Earlier this week, the Obama administration announced new rules included in a major overhaul of the Home Affordable Refinance Program (HARP). Among these were steps that would relax certain rules and lower borrower fees for homeowners with mortgages backed by Fannie Mae or Freddie Mac, allowing these homeowners with endangered mortgage positions to possibly refinance their mortgages at current historically low rates. Another provision in the changed rules would streamline… Continue reading

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FNC’s Weekly Business Wrap-Up

Posted on August 26, 2011 by Joe Meek

The business news this week has not been unlike the weather. While market swings have moderated and somewhat stabilized, as the week ended, investors were still faced with both real and potential triple-digit swings. Economic conditions, like Hurricane Irene, seem to be slowly swirling, creating a vortex that no one can predict with certainty how, when, or with what fury it will come home to roost. The fact that 2012… Continue reading

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Are Distressed Home Sales Misleading the Public?

Posted on July 6, 2011 by Seth Klein

In an article published today by Alan J. Heavens in the Philadelphia Inquirer’s digital edition, the writer says taking out the sales of distressed properties makes for a less abrupt drop in overall home prices. (Check out the article at philly.com.)

Mark Zandi, chief economist of Moody’s Analytics, believes that distressed home sales account for… Continue reading

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Is it Time to Appoint a Housing Czar?

Posted on June 24, 2011 by Seth Klein

Mortgage Banking News’s Lew Sichelman says it’s time for the Obama Administration to appoint a “housing czar” to clear the market of distressed houses.

At this week’s Pacific Coast Builders Conference in San Francisco, Ken Rosen, chair of the Fisher Center for Real Estate, said the nation’s 20 largest banks are ready to get the… Continue reading

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Wells Fargo Creates Alliance with U.S. Conference of Mayors

Posted on June 14, 2011 by Seth Klein

On Monday, Wells Fargo Home Mortgage and the U.S. Conference of Mayors began a three-year partnership to help avoid mortgage loan foreclosures.

In an article from The Des Moines Register, Mary Coffin, executive vice president of Wells Fargo Home Mortgage, said both parties intend to provide “proven technical capabilities and educational materials” in an effort called Leading the Way Home, which will help municipalities address the current housing crisis… Continue reading

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True Foreclosure Price Discounts Nonexistent…Until Now

Posted on April 21, 2011 by Linda Peal

Last month FNC, Inc. released the industry’s first market value-based foreclosure price discount data on single-family homes. Now a distressed property’s foreclosure sale price can be compared to its underlying market value, what it would have sold for if it weren’t in the foreclosure pipeline. FNC’s estimation of a property’s underlying market value is based on the FNC Residential Price Index™, the industry’s leading hedonic price index. In a report this week… Continue reading

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11 Million Households Underwater and Other Ups and Downs

Posted on March 10, 2011 by Jason Verlangieri, CUA

What’s up: foreclosures, underwater mortgages and mortgage applications
What’s down: home prices
What’s happening: federal agencies and banks trying to agree on a solution to reduce home loans; Bank of America meets with investors and analysts

Last week, U. S. banks received a 27-page proposal from state attorneys general and several federal agencies that could lead to a broad agreement to overhaul millions of foreclosures. The proposal, which could… Continue reading

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FNC’s Foreclosure Discount Estimate

Posted on March 2, 2011 by Linda Peal

The financial ruin and other non-financial impact on homeowners from the loss of homes through foreclosures, as well as the negative spillover effects on the neighborhoods, has inspired constant media coverage and political attention. Not surprisingly, low-to-median-income homeowners who relied heavily on subprime loans for mortgage financing have borne the brunt of the impact of the housing downturn and the collapse of subprime lending. Last week, Collateral Vision posted a… Continue reading

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