The housing market may already have hit bottom, but homebuilders are likely facing a slow recovery, according to Standard & Poor's Ratings Services.S&P said the reasons for this expectation are affordability problems in key coastal markets, a glut of unsold homes that could worsen, and a reluctant consumer that is still waiting for the market to hit bottom despite builders' price concessions. "Our bet is on a slower recovery with plenty of mixed signals and false starts along the way as undercapitalized homebuilders falter and consumers maintain their pricing power," said S&P credit analyst James Fielding. "The picture is likely to become clearer after the first half of 2007, when homebuilders report results from the important spring selling season." The S&P report is titled "Industry Report Card: Mixed Signals and False Starts Ahead in the U.S. Homebuilding Sector." The rating agency can be found online at http://www.standardandpoors.com.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
3h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25