News Flash

The cash sales share for all home sales in January 2017 was 36.5 percent, unchanged from a year ago, according to new data from CoreLogic
Cash Sales for Homes Remains Steady
The cash sales share for all home sales in January 2017 was 36.5 percent, unchanged from a year ago, according to new data from CoreLogic.   Alabama had the largest cash sales share of any state at 52 percent, followed by New York (49.7... Read more
Q1 Home Sellers Saw Greatest Profits in a Decade
Homeowners who sold their property in the first quarter realized an average price gain of $44,000 since purchase, representing an average 24 percent return on the purchase price—the highest average price gain for home sellers in terms of... Read more
President Donald Trump’s proposed overhaul of the tax system includes the preservation of the mortgage interest deduction
Trump Tax Plan to Keep Mortgage Interest Deduction
President Donald Trump’s proposed overhaul of the tax system includes the preservation of the mortgage interest deduction.   According to a Bloomberg report, the only itemized deductions that would be retained if the president’s plan is... Read more
The Consumer Financial Protection Bureau (CFPB) has issued a statement claiming that some mortgage servicers were in violation of federal laws “by failing to provide struggling borrowers with legal protections.”
CFPB Alleges “Slipshod Practices” in Servicing
The Consumer Financial Protection Bureau (CFPB) has issued a statement claiming that some mortgage servicers were in violation of federal laws “by failing to provide struggling borrowers with legal protections.”   In the Spring 2017... Read more
Ocwen Financial Corp. is responding to an enforcement action brought against it by the Consumer Financial Protection Bureau (CFPB)
Ocwen Seeks to Have CFPB Declared Unconstitutional
Ocwen Financial Corp. is responding to an enforcement action brought against it by the Consumer Financial Protection Bureau (CFPB) by filing two related motions for an early court ruling that would void the enforcement action while... Read more
More than two dozen national and regional trade groups representing the mortgage and real estate industries have joined together to support new legislation that is designed to improve consumer protection requirements for PACE loans
Trade Groups Support Upgrade to PACE Loan Protections
More than two dozen national and regional trade groups representing the mortgage and real estate industries have joined together to support new legislation that is designed to improve consumer protection requirements for Property Assessed... Read more
http://info.lres.com/how-effective-amc-communication-can-alleviate-the-impact-of-appraiser-shortages-for-lenders
White Paper Addresses Challenges of Appraiser Shortages
Orange County, Calif.-based LRES has announced the release of a free white paper titled “Effective Communication with Lenders to Alleviate Problems Caused by Appraisal Shortages.”   According to the company, the white paper addresses how a... Read more
Illinois home sales in March rose by 9.6 percent, while the statewide median price saw a 10.7 spike
Illinois Home Sales Up 9.6 Percent
Illinois home sales in March rose by 9.6 percent, while the statewide median price saw a 10.7 spike, according to data from Illinois Realtors.   Statewide home sales in March, including single-family homes and condominiums, totaled 13,274... Read more
Mortgage Applications Up 2.7 Percent
There was more activity among prospective homebuyers last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.   The Market Composite Index took a 2.7 percent ascension on a seasonally... Read more
Lodging Sector Profits Grew in 2016
The U.S. hotel industry recorded its seventh consecutive year of increasing profits in 2016 despite a slowdown in the rate of revenue growth, according to the 2017 edition of Trends in the Hotel Industry by CBRE Hotels’ Americas Research... Read more