Mortgages and Banking

Mortgages and Banking

• A View of the Housing Market from Capitol Hill

  Johnny Isakson weighs in on how policies might affect the industry.

   

• Worst May Be Over for Tucson Home Prices

  May 11--An uptick in home prices could signal stabilization in the housing market, but the sustainability of those rising prices has some analysts concerned.

   

• Hurdles to Homeownership Defy Good Mortgage Rates, Expert Says

  May 10--MCALLEN -- A troubled economy has caused the percent of U.S. residents who own homes to drop to its lowest point since 1997.

   

• Philly Home Price Declines Are Slowing, Reports Say

  May 10--Three measures of housing market health released so far this week indicate that price declines might be slowing in many areas of the country.

   

• National Association of Home Builders Proposes Overhaul

  The NAHB advocates reform for the nation's housing finance system.

   

• Private Home Builders Still Struggling

  Private home builders draw on 2011 insights to drive momentum into 2012.

   

• Fiserv: U.S. Housing Markets Stabilizing

  Fiserv, Inc. (NASDAQ: FISV) today released an analysis of home price trends in more than 380 U.S. markets based on the Fiserv® Case-Shiller Indexes®.

   

• Fannie, Freddie Accelerating Short Sales

  Loan servicers must make decisions in 30 days—unless they need 60.

   

• Principal Forgiveness May Save GSEs $1.7 Billion

  With new incentives from the Treasury, FHFA may be legally obligated to implement a write-off program.

   

• FHA Ban on Loans to Collections-Plagued Buyers Postponed

  The restriction, which was put into effect last week and pummeled some builders’ sales rates, has been pushed back.

   

• Where Are New-Home Sizes Going?

  Much has been made of the death of the McMansion, but new trends are questioning whether that pronouncement was made too early.

   

• American West Expects a Short Stay in Bankruptcy

  The Las Vegas builder, which filed Chapter 11 last week, has already taken steps that, if approved, would resolve its debt and other liability issues.

   

• Home Builder American West Development Files for Chapter 11 Protection

  The builder has already reached an agreement with its bank lenders to restructure its debt.

   

• Fed Chair Urges Swifter Action to Strengthen the Housing Sector

  Ben Bernanke lays out problems and possible solutions at IBS.

   

• Two Builders Extend Helping Hands to Medically Oriented Philanthropies

  Hearthstone and Builder magazine recognize the efforts of Dan Wallrath and Van Metre Homes.

   

• Underwater Homeowners More Likely to Move, Study Finds

  Despite the long-standing belief that homeowners underwater on their mortgages are tethered to their properties, a new paper by economist Sam Schulhofer-Wohl shows the opposite may be true.

   

• Foreclosures Down in December, but Trend May Not Last

  Last year’s rate of filings was down 34% from 2010.

   

• FHA Will Keep Funding Flips

  The waiver for 90-day resales has been extended through 2012.

   

• Starts: November/December 2011

  David Weekley Homes reenters the Phoenix market with the acquisition of the bulk of local builder T.W. Lewis' lots. Plus, a look at the markets where the biggest builders' volume and share might not add up to good operating leverage.

   

• Barney Frank Won’t Seek Re-Election in 2012

  The Massachusetts congressman has been an advocate of affordable housing and a vanguard in curbing the financial sector's excesses.