According to the National Association of Realtors® (NAR), first-time homebuyers accounted for only 27% of all home sales in December 2013—the lowest level since the NAR started tracking such statistics in 2008. Factors that may be contributing to diminishing numbers include high student loans, poor credit scores, low employment, and the rise in home prices […]
Brian Leibowitz, CEO/Owner, Affordable Financial Services LTD, says the new rules from the U.S. Department of Housing and Urban Development regarding mortgages will negatively impact the mortgage lending business. He says the rules — which will take effect on January 10, 2014 — will place an unnecessary burden on these financial institutions, especially on the […]
U.S. investment sales volume reached $76 billion in the third quarter of 2013, which is up 29% year after year, according to Jones Lang LaSalle New York Capital Markets. This is due to the rise in volume in office, retail and industrial real estate markets. So far, $65 billion in Commercial Mortgage-Backed Securities (CMBS) have […]
The Wall Street Journal reported yesterday that the U.S. Treasury may introduce new guidelines for mortgage lenders to give distressed borrowers more time to try and qualify for the Home Affordable Modification Program (HAMP). Among other proposed changes, loan servicers would have to give borrowers 30 days to respond after they are denied a loan […]