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$1 Million Homes: A Prestigious Purchase
BusinessWeek Online surveyed million-dollar homebuyers in 20 markets across the country and concluded that buyers today who are seeking $1 million homes can truly afford them and see the purchase as a confirmation of their success – even when there are lots of other nice homes available for less.
FTC Sues Two Mortgage Foreclosure “Rescue” Operations
As part of the Federal Trade Commission’s intensified efforts to protect consumers from mortgage foreclosure rescue scams, the agency has filed two lawsuits charging six individuals and their businesses with falsely claiming that they will stop foreclosure.
REALTORS® Speak Out on Behalf of Housing Affordability for Veterans
WASHINGTON, February 28, 2008 - The National Association of Realtors® testified today in Congress that the Veterans Home Loan Guaranty Program should continue to be a valuable asset in helping the nation’s veterans achieve the dream of homeownership in a way that is safe, fair and affordable.
Best Places To Get Ahead
Move to New York, and you could become an investment-banking millionaire. Head for Los Angeles for a chance at an eight-figure Hollywood paycheck. Or go prospecting in San Francisco for dot-com gold.
Existing-Homes Sales Slip in January as Some Potential Buyers Wait on Sidelines
WASHINGTON, February 25, 2008 - Existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 0.4 percent to a seasonally adjusted annual rate(1) of 4.89 million units in January from an upwardly revised level of 4.91 million in December, and are 23.4 percent below the 6.44 million-unit pace in January 2007.
Foreign Buyers Look to U.S. Housing
The strength of the Canadian dollar, the euro, and other foreign currencies, on top of a slowdown in the U.S. real estate market, is making the United States an enticing place for foreigners to buy property.
MBA’s Quinn Sounds Caution on Senate Housing Package
WASHINGTON, D.C. (February 14, 2008) – Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) expressed reservations about several of the provisions contained in the Foreclosure Prevention Act of 2008, introduced in the Senate yesterday.Mr.
Mortgage Applications Decrease In Latest MBA Weekly Survey
WASHINGTON, D.C. (February 20, 2008) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 15, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 822.8, a decrease of 22.6 percent on a seasonally adjusted basis from 1063.5 one week earlier.
Fourth Quarter Commercial Real Estate Index Eases
WASHINGTON, February 20, 2008 - The Commercial Leading Indicator for Brokerage Activity(1) slipped 0.4 percent to an index of 120.1 in the fourth quarter from a reading of 120.6 in the third quarter, but remains 0.1 above the fourth quarter of 2006 when it stood at 119.9.
Bush Administration seeks $38.5 billion HUD budget in 2009
WASHINGTON – The Bush Administration’s Fiscal Year 2009 Budget seeks $38.5 billion for the U.S. Department of Housing and Urban Development, which represents a $3.2 billion or nine percent increase over the President’s proposed budget for FY 2008 and $1 billion more than HUD’s current budget authority.
MBA Reports Commercial/Multifamily Originations Down in Q4
Washington, DC - February 4, 2008 - Commercial and multifamily mortgage bankers' loan originations fell on a year-over-year basis in the fourth quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Fourth quarter originations were sixteen percent lower than during the same period last year.
Mike Sloggatt to Lead Live SIP Demonstrations at IBS
ORLANDO - Professional construction educator Mike Sloggatt will demonstrate SIP installation techniques inside the SIPA Village exhibit at the International Builders’ Show, February 13-16.
REALTORS®, Mayors Recognize Miami-Dade for Virtual Housing Center
WASHINGTON, February 01, 2008 - The National Association of Realtors® and the U.S. Conference of Mayors have named Miami-Dade County an Ambassador City for its Housing Central Web portal. The virtual one-stop housing center connects residents with affordable homes and rental units and provides valuable information and resources for area families
DOL Grant to Address Shortage of Energy Sector Workers
Under the President's High Growth Job Training Initiative (HGJTI), the Department of Labor Employment and Training Administration (DOL-ETA) has announced the availability of approximately $10 million in grant funds for high-impact regional approaches to meet the workforce challenges of the energy industry and/or address the shortage of construction and skilled trade workers needed to maintain and expand the energy industry infrastructure
Foreclosures Push Down Rents
Due to home owners trying to rent homes they can’t sell, rentals are abundant and prices are at bargain levels in areas hit hard by foreclosures.
MBA’s “Stop the Cram Down Resource Center” Puts a Price Tag on Bankruptcy Reform
WASHINGTON, D.C. - Jan. 15, 2007 - A proposed change in the bankruptcy law that would allow bankruptcy judges to unilaterally change the terms of mortgage contracts would cost home buyers across the country hundreds of dollars every month and thousands of dollars a year, according to a new resource on MBA’s website
Analytical Case for Loan Modification Reported in FDIC Quarterly
In the current issue of FDIC Quarterly the FDIC outlines the analytical case for a systematic and streamlined loan modification process that will help avert foreclosure for borrowers who are current on their loans, but who cannot refinance or afford the higher payments when interest rates reset
NAR Campaign Relates Real Facts About Real Estate
WASHINGTON, January 14, 2008 - Beginning today, the National Association of Realtors® is reaching out to consumers with the facts about homeownership and the value of real estate as a long-term investment.
CampusMBA Launches Robust “Enterprise Certification Program”
WASHINGTON, D.C. - January 11, 2008 - CampusMBA, the award winning education division of the Mortgage Bankers Association (MBA) today launched the Enterprise Certification Program, a specialized and comprehensive bundle of top tier, certification-based and results-oriented learning solutions designed to elevate and uphold a company's quality and excellence.
Register Today for the Mortgage Bankers Association’s (MBA) 2008 National Mortgage Servicing Conference &...
As current market conditions dictate changes to the way companies do business, now is the time for servicing professionals to pool knowledge, information, resources and discover new ways to increase operating efficiencies
