Monthly Archives: November 2016

Existing home sales increased to highest pace in nearly 10 years

Written on November 28, 2016 at 9:39 am

October brings autumn revival for housing market Existing home sales shot up in October to the highest annualized pace in almost a decade, according to the new report from the National Association of Realtors.  “The existing home sales market continues to show surprising strength, defying expectations for a modest fall and instead delivering the strongest  Read More Read More...

What happens now that the CFPB appealed its “unconstitutional” ruling? Compass Point on the next steps in the PHH legal battle

Written on November 23, 2016 at 9:41 am

As expected, the Consumer Financial Protection Bureau last week appealed the U.S. Court of Appeals for the District of Columbia Circuit ruling that declared the agency’s leadership structure unconstitutional and vacated a $103 million increase to a $6 million fine levied against PHH. (Source: Housing Wire, November 21, 2016, Ben Lane).  Read more. Read More...

What Is Blockchain And How Does It Apply To Real Estate?

Written on November 15, 2016 at 10:11 am

The internet made it possible for individuals to transfer information, quickly, cheaply and paperlessly without obtrusive intermediaries. Similarly, blockchain technology offers the same advantages for transferring VALUE. You use the internet to transfer words and pictures. You use blockchain platforms to transfer money and assets. (Source: Realcomm, Author: Ragnar Lifthrasir, President, IBREA, 03.29.2016). Read more.  Read More...

Federal Watchdog Agency Steps Up Inquiry Into Home Contracts

Written on November 15, 2016 at 9:58 am

The Consumer Financial Protection Bureau, the nation’s top consumer watchdog, is stepping up an investigation into seller-financed home sales that target lower-income home buyers unable to get a traditional mortgage. Source: New York Times, ALEXANDRA STEVENSON and MATTHEW GOLDSTEINNOV. 14, 2016. Read more. Read More...

A RISE IN NON-FHA SOLUTIONS FOR LOW-VALUE HOMES

Written on November 15, 2016 at 9:54 am

Along with FHA, a little known financing instrument called a contract for deed have helped low-credit borrowers, according to Daren Blomquist with RealtyTrac. Read more, Source: Builder News, November 10, 2016) Read More...

What the Heck’s going on with Foreclosures? Why this Spike?

Written on November 15, 2016 at 9:49 am

Foreclosures suddenly spike most since the last Housing Bust The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Read more. (By Wolf Richter • November 10, 2016) Read More...

Banks No Longer Make the Bulk of U.S. Mortgages

Written on November 3, 2016 at 10:01 am

Taking their place are nonbank lenders more willing to make riskier loans banks now shun.  Six of the top 10 mortgage lenders by origination volume were nonbanks as of September, up from four for all of 2015 and two in 2011.  Banks no longer reign over the U.S. mortgage market. They accounted for less than half  Read More Read More...