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NMP News

HUD Leads Multi-Governmental Agencies in Stamping Out Homelessness

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The U.S. Department of Housing & Urban Development (HUD), U.S. Department of Veterans Affairs (VA), and U.S. Interagency Council on Homelessness (USICH) released a new national estimate of veteran homelessness in the United States. Data collected during the annual Point-in-Time Count conducted in January 2014 shows there were 49,933 homeless veterans in America, a decline of 33 percent (or 24,837 people) since 2010. This includes a nearly 40 percent drop in the number of veterans sleeping on the street.Click to continue

Quicken Loans Pledges Aid to Active Servicemembers

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Quicken Loans announced a partnership with the Obama Administration to make sure active-duty military members receive the benefits their service entitles them. The company, along with a number of other top mortgage lenders, has agreed to enhance the financial protections that active military members are granted under the Service Members Civil Relief Act (SCRA). The SCRA is a federal law that assures protection for military members as they enter active duty.Click to continue

Latest Credit Managers’ Index Indicates No Change, Month to Month

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Consistency is generally a positive development when the overall readings have been positive and this is the case for the August report of the Credit Managers’ Index (CMI) from the National Association of Credit Management, which posted no change from July’s 56.8. This marks five months of readings between 56 and 56.8 and given the volatility in the economy as a whole for this period, this stability in credit is a positive signal as far as the rest of the year is concerned.Click to continue

FHFA Sets Goals For GSE's Next Few Years

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The Federal Housing Finance Agency (FHFA) proposed a rule that would establish housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2015 through 2017. FHFA is requesting comment on all aspects of the proposed rule. The Housing and Economic Recovery Act of 2008 requires FHFA to establish annual housing goals for both Enterprises, and FHFA’s current housing goals rule is effective through the end of 2014.Click to continue

Estimated Annual Pace Down Three Percent For Condos, Apartments and Single Family

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RealtyTrac released its July 2014 U.S Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 4,634,513 in July, down three percent from the previous month and down 12 percent from a year ago — the third consecutive month where annualized sales volume has decreased on a year-over-year basis.Click to continue

Title Insurance Volume Down Over 16 Percent, According to ALTA

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The American Land Title Association (ALTA) reported title insurance premium volume declined 16.6 percent during the second quarter of 2014 when compared to the same period a year ago.

The title insurance industry generated $2.7 billion in title insurance premiums during the second quarter of 2014 compared to $3.3 billion during the second quarter of 2013 according to ALTA’s 2014 Second-Quarter Market Share Analysis.Click to continue

July Home Sales Indicate Rebound According to NAR

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Pending home sales rebounded in July and have now risen in four of the last five months, according to the National Association of Realtors. All major regions experienced healthy gains except for the Midwest, which saw a slight decline.Click to continue

Wells Fargo Tops MBA Survey of Commercial and Multifamily Mortgage Servicers’ Volumes

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The Mortgage Bankers Association (MBA) released its mid-year ranking of commercial and multifamily mortgage servicers’ volumes as of June 30, 2014. At the top of the list of firms is Wells Fargo with $446.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $378.2 billion, Berkadia Commercial Mortgage LLC with $242.9 billion, KeyBank National Association with $167.2 billion, and GEMSA Loan Services, L.P. with $95.7 billion.Click to continue

Multifamily Production Index Gains Five Points

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The Multifamily Production Index (MPI) recently released by the National Association of Home Builders (NAHB), posted a gain of five points to a reading of 58 for the second quarter. It is the 10th straight quarter with a reading of 50 or above.Click to continue