Daily Archives: May 13, 2012

Insight – Time running out for Ally Financial's restructuring

Insight – Time running out for Ally Financial's restructuring
But now ResCap faces litigation from private investors as well as the regulator of Fannie Mae and Freddie Mac over underwriting standards it used in making those loans, bringing a whole new set of liabilities that again threaten to take Ally down with …
Read more on Reuters UK

Phoenix's Hard-Hit Housing Starts to Rise From Ashes
Colony has also been pre-approved to bid on Fannie Mae foreclosures through a new pilot program by the Federal Housing Finance Agency (FHFA). "We really understand what they want to accomplish, and we think we can be good partners," says Chang.
Read more on CNBC.com

Will short sales save the housing market?
The guidelines require servicers of Fannie Mae and Freddie Mac loans to respond to short sale offers faster, making a final decision within 60 days of receiving the purchase request. "As the leading advocate for housing and homeownership, …
Read more on CBS Moneywatch

Ally Financial Reports Preliminary First Quarter 2012 Financial Results

Ally Financial Reports Preliminary First Quarter 2012 Financial Results
Ranked as the top servicer in its peer group in 2011 by Fannie Mae's Servicer Total Achievement and Rewards (STAR) Program, which measures the performance of servicers in helping homeowners avoid foreclosure. Ally maintained a strong capital and …
Read more on MarketWatch (press release)

New Website Offers Free Access to Foreclosure Listings
Bank owned properties, foreclosed homes and REOs, HUD homes and government foreclosures, short sales and even pre-foreclosure auction properties can all be found without jumping through any hoops. Family homes, waterfront estates and high end condos in …
Read more on Albany Times Union

Foreclosure Pipeline Slows to Dribble Because of New Hawaii Law
We check to see whether their mortgages are owned by Fannie Mae or Freddie Mac, who will not consider a short sale unless the borrower is in default. Few Big Island resort properties qualify for conforming loans, so usually this is only an issue for …
Read more on Hawaii Reporter

McFeatters: “No-kill” approach has gone mainstream

McFeatters: “No-kill” approach has gone mainstream
One hurdle is finding volunteers willing to transport an animal often several hundred miles to a new adoptive home. Steps are also necessary to educate the owners, if only to cut the 20 percent return rate of adopted animals.
Read more on Times Record News

Freedom Realty Exchange Launches the First Ever Online Real Estate Auction in

Freedom Realty Exchange Launches the First Ever Online Real Estate Auction in
The Burj Khalifa, the world's tallest building, revels in many accolades; the newest one being home to the first ever online real estate auction in Dubai. The current owner of an entire corporate floor above the 110th story has taken the bold and …
Read more on MarketWatch (press release)

The Village at Robinhood gets no bid in foreclosure auction
The Village at Robinhood, a shopping center in northwest Winston-Salem, has reverted to Capital Bank after failing to draw a bidder at a foreclosure auction Tuesday. The shopping center is off Robinhood Road near Meadowlark Drive and Olivet Church Road …
Read more on Winston-Salem Journal

Business events scheduled for Thursday

Business events scheduled for Thursday
Major business events and economic events scheduled for Thursday: WASHINGTON — Labor Department releases weekly jobless claims, 8:30 am WASHINGTON — Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 am WASHINGTON — National …
Read more on CBS News

Mortgage Rates: Low Mortgage Rates Steady While Concerns Turn to Spain
This program is for underwater borrowers who already have mortgages held with Fannie Mae or Freddie Mac. Today's FHA 30 year fixed mortgage interest rates are at 3.375%, FHA 15 year fixed mortgage rates are at 2.875% and FHA 5/1 ARM loan rates are at …
Read more on FreeRateUpdate.com

Giant housing auction looms from Bank of America
The government-sponsored mortgage finance firm is currently accepting bids for that bulk sale under a trial project by the Federal Housing Finance Agency, which regulates both Fannie Mae and Freddie Mac. The FHFA program is reported this week to be …
Read more on Overseas Property Professional