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NMP News

Dillard’s Encouraged to Follow REIT Route

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For the second time in two weeks, a major retailer is being aimed in the direction of establishing a real estate investment trust (REIT) as a solution to ongoing financial concerns.

Marcato Capital Management LP, a San Francisco-based investment manager, has released a presentation that it claims will result in “significantly increasing shareholder value” at Dillard's Inc., a retailer with nearly 300 stores across 28 states.Click to continue

Survey Finds Proposed G-Fee Increase Will Hurt Originations

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Genworth U.S. Mortgage Insurance, a unit of Genworth Financial Inc., has released results from a survey of industry executives conducted at this year’s Mortgage Bankers Association Annual Conference in Las Vegas, which polled 302 mortgage professionals. Key findings showed significant concern about the proposed rise in guarantee fees, among other issues regarding regulation, credit and technology.    Click to continue

Mortgage Rates Decline and Head Below the Four Percent Mark

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) slightly down from the previous week with the 30-year FRM dipping just below four percent to 3.99 percent, with an average 0.5 point for the week ending Nov. 20, 2014. This total was down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM averaged 4.22 percent.Click to continue

HUD Partners With National League of Cities to Combat Veteran's Homelessness

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The U.S. Department of Housing & Urban Development (HUD) and National League of Cities (NLC) have announced a new Memorandum of Understanding (MOU) to help fight against veteran homelessness in cities across the country. To date, more than 255 cities, counties and states are pledging to end veteran homelessness in their communities by 2015 using the power of federal, state, local, and non-profit resources.Click to continue

Existing-Home Sales See October Upswing

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Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors (NAR). Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million in October from an upwardly-revised 5.18 million in September.Click to continue

Permanent Loan Mods Hit 109,000 in Q3

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HOPE NOW has released its third quarter 2014 data, showing that approximately 468,000 homeowners received non-foreclosure solutions from mortgage servicers in July, August and September. Permanent loan modifications totaled approximately 109,000 and short sales totaled 30,000. Other solutions (including repayment plans, deeds in lieu, other retention plans and liquidation plans) made up the rest of the total number.Click to continue

FHFA: G-Fees Increase an Average of 51 BP in 2013

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The Federal Housing Finance Agency (FHFA) has released its sixth annual report on the single-family guarantee fees (g-fees) charged by Fannie Mae and Freddie Mac.Click to continue

Builder Confidence Optimistic in November

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Builder confidence in the market for newly built single-family homes rose four points to a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "Growing confidence among consumers is what's fueling this optimism among builders," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "Members in many areas of the country continue to see increasing buyer traffic and signed contracts."Click to continue

Congress Called Upon to Extend Mortgage Forgiveness Debt Relief Act

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The Financial Services Roundtable (FSR) and several other financial trade associations sent a joint letter to congressional leadership today calling for lawmakers to grant a two-year extension of the Mortgage Forgiveness Debt Relief Act, which preventsClick to continue

Multifamily Developers Remain Positive on Future of the Market

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The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), reached 54 in the third quarter, four points below the previous quarter's reading. This is the 11th consecutive quarter with a reading of 50 or above. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.Click to continue