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real estate-owned (REO)

Cash Sales Comprise 33 Percent of Total Sales in July 2014

Cash Money/Credit: Adam Gault

Cash sales made up 32.9 percent of total home sales in July 2014, the lowest share since August 2008, and down from 35.9 percent in July 2013. Month over month, the cash sales share was mostly flat, falling only one tenth of a percentage point from June 2014, however, cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market.The year-over-year share has fallen each month since January 2013.Click to continue

Home Prices Rise Nationwide 0.8 Percent in August

House For Sale/Credit: Jupiterimages

The latest FNC Residential Price Index (RPI) shows U.S. home prices have increased another 0.8 percent from July to August. The latest trend—as of August—marks a 30-month rising streak since 2012. Based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest metropolitan areas, the index increased 7.5 percent from the same period in 2013—unchanged when compared to July’s year-to-year rate—amid a persistent slowdown in the annual rate of home price appreciation.Click to continue

Rushmore Loan Management to Expand Into Puerto Rico

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Rushmore Loan Management Services LLC has announced plans to extend its specialty residential loan servicing platform to Puerto Rico. The company will open a new branch in San Juan, Puerto Rico, which will be fully operational by Nov. 1, 2014. According to Rushmore CEO Terry Smith, Rushmore will immediately begin servicing approximately 4,000 residential loans and real estate-owned (REO) properties when the branch office opens in November.Click to continue

Cash Sales Account for Nearly 35 Percent of May Home Purchases

House Atop Money/Credit: Creatas

Cash sales comprised 34.4 percent of total home sales in May 2014, according to CoreLogic, the lowest share since May 2010, and down from 37.4 percent from the same month a year ago. While the cash sales share also fell from the 36.9 percent reported in April 2014, cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market. The share has fallen on a year-over-year basis each month since January 2013.Click to continue

Foreclosure Inventory Found to be Significantly Higher in Judicial States

Black Gavel Pic/Credit: Brand X Pictures

The Data and Analytics division of Black Knight Financial Services (BKFS) has released its latest Mortgage Monitor Report, looking at data as of the end of June 2014. An analysis of the month's mortgage performance data showed that the nation's inventory of loans in foreclosure is disproportionately distributed in states with judicial foreclosure processes.Click to continue

The Viability of GSE Recapitalization

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During a recent National Housing Conference Annual Policy Symposium in Washington, D.C., Treasury Undersecretary Mary Miller discussed the uncertain future of the government-sponsored entities (GSEs). She also covered the basics of the post-economic disaster and its meager, slow-moving recovery.Click to continue