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California and Florida remain biggest trouble spots, but most states fell below the national delinquency average, says latest Mortgage Bankers Association survey.
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Construction loans fastest-growing category of ‘troubled’ loans, according to FDIC report.
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WASHINGTON - Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July.
“If you run out of cash, you’re out of business.”
Resolving unpaid loans backed by depreciating assets at a time of diminished sales is testing builder-lender relationships.
Renegotiating debt can be a lifesaver for builders swamped by the market.
The tightening of AD&C credit has put an extra burden on builders.
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Lenders will be allowed to adjust or defer payments for affected Midwestern borrowers.
Credit conditions have tightened for home buyers and builders.
The House Judiciary Committee on Dec. 12 completed its markup of the Emergency Home Ownership and Mortgage Equity Protection Act of 2007. Introduced by Rep. Brad Miller (D-N.C.), the measure would allow bankruptcy judges to reduce the value of a home loan, extend the terms of the loan, lower the...
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Last night, WCI Communities got another reprieve from its lenders, which agreed to amend the terms of its senior secured revolving credit line and term loan. This was the fourth time in as many months that its banks have extended their loans after the Bonita Springs, Fla.-based builder and...
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Bank of America will become the country's largest mortgage lender and servicer if its agreement to purchase the beleaguered Countrywide Financial is approved by both companies' shareholders and regulatory agencies. Late yesterday, Charlotte, N.C.-based Bank of America revealed that it had agreed to...
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THE SUBPRIME-INDUCED TIGHTENING OF credit conditions in home mortgage markets now is being joined by tightening in credit markets where builders and developers raise funds—the markets for land acquisition, land development, and construction loans (AD&C). Some tightening in AD&C markets has been...
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When 800 registered voters were asked last fall about what would motivate them to either purchase a new green home or “green” their existing home, 64 percent said that reduced energy costs would be the biggest reason. With energy prices on the rise, now's the time to improve the energy efficiency...
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- Fannie Mae announced plan to impose an “Adverse Market Delivery Charge."
- Home-price appreciation rates among resale homes vary significantly among the nation's top markets, according to the latest monthly S&P/Case-Shiller home-price statistics.
- The NAHB and NAHB Research Center to conduct...
The rift between HUD and Congress over modernizing the FHA deepened in recent weeks as HUD moved forward with plans to charge riskier borrowers a higher premium, starting as soon as Jan. 2, 2008.
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The National Association of Realtors (NAR) forecasts a steady housing market for the next few months with a gradual rise in new- and existing-home sales later on this year and well into 2009. However, the trade group says the opposing forces of pent-up demand from 4 million jobs added to the...
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Government continues to react to the turmoil in the mortgage market. The latest to take action is the Federal Reserve, which voted unanimously to endorse a new set of regulations aimed at protecting homeowners from abusive lending practices. The new guidelines range from a ban on low-documentation...
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The U.S. Senate arrived late to the party but they got there. On the heels of response to the turmoil in the mortgage market from the White House, the Fed, and the House of Representatives, the Senate passed legislation that would overhaul how the Federal Housing Administration operates.
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Dec. 16, 2007: The Fed chips in; HOPE NOW hotline operators are kept busy; Centex battles SE Florida sales slump; and the NAHB says no to Fannie Mae.