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Residential

New Credit for Revolving Home Equity Loans Rises More Than 21 Percent Year-Over-Year

Home Block Wood/Credit: Phil Ashley

Equifax has announced its latest National Consumer Credit Trends Report, the total balance of new credit for revolving home equity loans year-to-date in July 2014 is $65.9 billion, a six-year high and a year-over-year increase of 21.4 percent.Click to continue

Defining a Settlement Service Provider

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Question: We continually hear about the importance of the “Settlement Service Provider” in originating residential mortgage loans. But it seems sometimes that almost everybody involved in a loan transaction is such a company. Is there a list that we can go by to determine who is and who is not a Settlement Service Provider?Click to continue

U.S. Housing Production Rises 6.3 Percent in September

Housing Rise/Credit: Comstock Images

For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.Click to continue

NIMBY, Hamptons-Style

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When most people think of the Hamptons, the luxury real estate market on New York’s Long Island, perhaps the last thing that comes to mind is affordable housing. And the school board of a ritzy Hamptons community is working hard to keep affordable housing out of their neighborhood.Click to continue

Foreclosures Down 16 Percent Year-Over-Year in Q3

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RealtyTrac has released its U.S. Foreclosure Market Report for September and the third quarter of 2014, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions— were reported on 317,171 U.S.Click to continue

More Than 40,000 Permanent Loan Mods Reportedly Granted in August

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HOPE NOW has released its August 2014 loan modification data, which found that an estimated 40,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP).Click to continue

Fixed-Rates Hit Lowest Mark Since June 2013

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates hitting new lows for the year as 10-year bond yields briefly dipped below two percent. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below four percent in the PMMS until this week.Click to continue