Compliance & Regulation

With construction activity, sales and home prices still well below pre-crisis levels, a revival of the U.S. housing sector still faces significant challenges and the benefits remain quite uneven.

While Automated Valuation Models are industry tools used in the traditional property valuation process, they lead to flawed results for determining an accurate value for a specific property.

“We cannot continually buy more securities and create more bank reserves without jeopardizing our inflation goal,” said Federal Reserve Bank president Jeffrey Lacker.

A strong sign that the housing market is improving was seen just looking at the attendance figures from the Mortgage Bankers Association’s annual convention in Chicago.

Most of the relief Bank of America provided to mortgagors continues to come in the form of short sales.

“I think it’s reasonable to expect that premiums will rise,” said one Washington-based consultant close to the issue.

Recriminations about what caused the greatest mortgage meltdown in U.S. history continue to play out in various ways.

Lenders on the deal include First Republic, Fremont, Prime Lending, Flagstar, WL Bradley and Cornerstone Mortgage.

Mortgage bankers should let the Nationwide Mortgage Licensing System and state regulators know about any Hurricane Sandy-related problems at their shops.

Alfred Pollard said $1 trillion of household debt delinquent in the second quarter of 2012 support his case that are a housing crisis still lingers.