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Fannie, Freddie May Lose Top Credit Rating

by John TayebJuly 20, 2011 commercial real estate

Standard & Poor’s cautioned Fannie Mae and Freddie Mac that they may lose their top credit ratings if lawmakers don’t soon raise the government’s borrowing limit to avoid default. The S&P also said that the government-sponsored enterprises could potentially default on their debts since they are so reliant on the U.S. government for funding. Fannie [...]

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Help on the Way for Underwater Home Owners?

by Tayeb Realty GroupJuly 20, 2011 Foreclosures

A bill introduced in the Senate aims to remove barriers for underwater home owners looking to refinance. “The Helping Responsible Homeowners Act” would order Fannie Mae and Freddie Mac to waive fees and remove barriers that are keeping underwater borrowers from refinancing to lower mortgage rates. The bill, authored by Sen. Barbara Boxer, D-Calif., has [...]

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Bill Calls for Extending Jumbo Loan Limits

by John TayebJuly 19, 2011 commercial real estate

A bill introduced late last week calls for extending the current conforming loan limits on government-backed mortgages at Fannie Mae and Freddie Mac for another two years. The bill, introduced by Rep. John Campbell, R-Calif., and Rep. Gary Ackerman, D-N.Y., would allow the government-sponsored enterprises and the Federal Housing Administration to guarantee or buy mortgages [...]

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FTC No Longer Enforcing Parts of MARS

by Tayeb Realty GroupJuly 18, 2011 Foreclosures

The Federal Trade Commission announced on Friday that it would no longer enforce against real estate professionals most of a new rule in the Mortgage Assistance Relief Services (known as MARS). This had been a roadblock for practitioners trying to assist consumers in short-sale transactions. “Real estate professionals will not have to make several disclosures [...]

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Can a New HUD Program Save Home Owners?

by Tayeb Realty GroupJuly 6, 2011 Foreclosures

In June, the Department of Housing and Urban Development launched a new grant program to help home owners who have fallen behind on their mortgage payments due to unemployment or unexpected medical bills. The program offers eligible home owners $50,000 in interest-free loans for up to two years. HUD has until the end of the [...]

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Foreclosure Sales Drop, But Inventories Swell

by John TayebJuly 6, 2011 Foreclosures

Foreclosure sales continue to drop, but foreclosure inventories remain high in many markets across the country. By the end of May, the number of mortgages that were 90 or more days delinquent, combined with the foreclosure inventory, outpaced foreclosure sales by 50:1, Lender Processing Services Inc. reports. The biggest drop in foreclosure sales occurred in [...]

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Down Payment Plan May Price Buyers Out of Market

by Tayeb Realty GroupJuly 5, 2011 Housing Market News Update

How much a home buyer should have a for a down payment on a home has been up for dispute among policymakers. Some recent federal regulators and lawmakers calling for a 20 percent or 10 percent down payment in order for mortgages to be considered a “qualified residential mortgage” and not subjected to extra fees. [...]

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7 Highest-Performing Major Housing Markets

by Tayeb Realty GroupJune 14, 2011 commercial real estate

Several real estate markets are starting to show signs of improvement with home prices in the last quarter as the industry demonstrates more signs of stabilizing, according to Clear Capital’s latest monthly Home Data Index Market Report. REO saturation rates have improved in the majority of the country’s largest markets. However, many areas are still [...]

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Mortgage Rates Reach Another Low for 2011

by John TayebJune 6, 2011 Foreclosures

For nearly two months, mortgage rates have been steadily dropping, and this week rates reached another low for the year, Freddie Mac reports in its weekly mortgage market survey. Here’s a closer look at average mortgage rates for the week: 30-year fixed-rate mortgage: The most popular financing choice among buyers, the 30-year fixed-rate mortgage continued [...]

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Real Estate’s ‘Clearance Sale’?

by Tayeb Realty GroupJune 6, 2011 Foreclosures

For those who love a deal, now is the time to buy a home, experts say. Pete Flint, CEO of Trulia, predict a “clearance sale” in real estate. “We don’t imagine a stampede of buyers, like outside of Macy’s on Black Friday,” he told CNN. “We see this more akin to January sales where retailers [...]

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