Premier Real Estate Attorneys

Most Active States for Mortgage Fraud Schemes

Dated: August 27, 2014

The most active states for mortgage fraud today include California, Nevada, Arizona, Florida and Michigan, report Freddie Mac's fraud investigators.

They say one of the most active mortgage fraud schemes in these states - and across the country - lures borrowers into paying big fees to a "specialist" for a quick loan modification.


Fannie Mae: Housing’s falling momentum will impede 2015 growth

Dated: August 18, 2014
While the forecast for the economy is positive, the outlook for the housing market has deteriorated as housing activity lost momentum and near-term indictors only suggest minor improvement, Fannie Mae said in its latest economic outlook report.   Read MORE

Get Ready for More New Construction in East Manatee

Dated: July 16, 2014

The nation’s largest homebuilder has picked up 665 acres of vacant land in East Manatee for development.

D.R. Horton paid $5.8 million for the vacant grazing land at 15156 and 16000 Upper Manatee River Road. The Texas-based homebuilder acquired the sites from Lawrence Reagan, official property records show.

The purchase price equates to about $8,765 per acre.



Dated: July 11, 2014
HAWK is a pilot program to encourage more housing counseling in the home buying process for borrowers using FHA insured financing.  Homebuyers who participate in the program will qualify for reductions in their mortgage insurance premiums for FHA-insured loans.  The average buyer could save approximately $325 a year – or almost $9,800 over the life of their loan.   Read MORE

Zombie Foreclosures….

Dated: July 7, 2014
Seven years have passed since Southwest Florida's housing downturn pushed the region into recession, bringing about the eviction of tens of thousands of area residents through foreclosure.  But a Herald-Tribune investigation shows that some of the largest mortgage lenders in the country still struggle to process these defaults, even when there is no homeowner left to fight.   Read MORE

These 3 homebuilders are primed to capitalize on the market

Dated: July 2, 2014
According to Freddie Mac’s Primary Mortgage Market Survey last week, the average interest rate for 30-year, fixed-rate mortgages is at 4.12%. That’s the lowest it’s been all year. In fact, it’s the lowest level in nine months. And that’s good news for three homebuilders, according to analysts from Sterne Agee. Jay McCanless of Sterne Agee notes that it does not forecast interest rates, but says that the low interest rate environment could prove to be a boon for D.R. Horton (DHI), Beazer Homes (BZH) and MDC Holdings (MDC). McCanless has all three companies rated as “buy.”   Read MORE

The U.S. Goes From Big to Still Bigger on the New Home Front

Dated: June 25, 2014
The new-home market’s shift to pricier homes resulted last year in the average newly built home getting larger still, with more including trappings of affluence such as four or more bedrooms and three-car garages. U.S. Census Bureau data released Monday show the percentage of U.S. homes built last year with at least four bedrooms increased to 44%, up from 41% in 2012. Last year’s percentage was the highest for new homes with four bedrooms or more since Census began tracking the figures in 1973.   Read MORE

Lenders Easing Up on Jumbo Mortgages

Dated: June 23, 2014

Underwriting guidelines remain rigid on the conforming loans guaranteed by Fannie Mae and Freddie Mac, but lenders are becoming more accommodating on nonconforming, or jumbo, loans.

Over the last few months, lenders have begun approving loans for jumbo borrowers who don’t strictly meet the usual rules for, say, income documentation or credit score minimums, but can compensate for these shortfalls in other ways.


Electronic mortgages could help save industry $1,100 per loan

Dated: June 16, 2014
An electronic mortgage process could shave 30 days off of the average 52 days it takes to close a loan and save the industry an average of about $1,100 per mortgage, or roughly $1 billion a year, according to estimates from a team put together by Fannie Mae.   Read MORE

Five states make up nearly half of U.S. foreclosures: CoreLogic

Dated: June 9, 2014
Just five states made up almost half of all U.S. foreclosures completed over the past year, even as the national market showed a marked improvement, with gauges of troubled properties reaching near pre-crisis levels last month, according to data released Thursday. These usual suspects made up the five states: Florida, Michigan, Texas, California and Georgia. Meanwhile, the national landscape continued to rebound in April, as the number of mortgages per completed foreclosure rose to 65 – the strongest reading since February 2008 – up from 52 a year earlier, according to CoreLogic, an Irvine, Calif.-based analysis firm.   Read MORE

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