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In a further sign that the housing market is in the tank, banks have been outselling home builders for the last 18 months, according to a new report from Housing Intelligence, an independent research and analytical firm.
July 16 -
JPMorgan Chase & Co. is taking a hard line with some borrowers who want to sell their homes for less than they owe on the mortgage and avoid foreclosure.
July 16 -
Bank of America lost $1.5 billion on its residential mortgage business in the second quarter with credit charges remaining high and loan production barely rising from the first quarter.
July 16 -
A few minutes after the Senate passed historic legislation to reform Wall Street, the Securities and Exchange Commission announced that Goldman Sachs had agreed to a record $550 million settlement of civil charges that the firm misled clients that lost $1 billion on a subprime CDO known as ABACUS.
July 15 -
Today’s way of managing the REO sales process is still built around the same technology system that was in place two decades ago, which creates inefficiencies that prevent offers from going through, according to industry insiders.
July 15 -
What are the best options available to lenders to deal with today's ever-changing loan volumes while maintaining loan performance?
July 15 -
FBR Capital Markets is recommending investors be "more aggressive" on private mortgage insurers ahead of their second quarter earnings reports.
July 15 -
The average rate for a 30-year fixed rate mortgage during the week ended July 15 matched the previous week's record low of 4.57%, according to Freddie Mac's Primary Mortgage Market Survey.
July 15 -
Midyear foreclosure numbers are on pace to exceed 3 million properties by the end of the 2010, and more than 1 million REOs. These are the latest findings from the Irvine, Calif.-based tracking service RealtyTrac, which says a total of 1.96 million foreclosure filings were reported on 1.65 million U.S. properties in the first six months of 2010.
July 15