New home sales on the rise, more pressure for principal reduction, unlikelihood of the credit union bill passing, and more in today's industry news round-up!
New-home sales show a winter glow l CNN Money - Real Estate
While sales of new homes slowed in March, government figures for the previous two months were revised sharply higher Tuesday, pointing to a solid winter rebound in the housing market.
FHFA House Price Index Up 0.3%; Comparisons with Case-Shiller l DSNews.com
FHFA's house price index showed a monthly increase of 0.3 percent in February and a 0.4 percent increase compared to a year ago. This marks the first 12-month gain since the July 2006 - July 2007 yearly increase. The FHFA index uses purchase prices of houses backing mortgages sold to or guaranteed by Fannie Mae or Freddie Mac.
Home prices lowest since 2002 l CNN Money - Real Estate
Home prices hit new post-bubble lows in February, according to a report out Tuesday.
Call for GSEs to Apply Principal Reduction Continues l DSNews.com
In a speech to the National Council of State Housing Agencies on Monday, a Treasury official named a number of measures to address challenges in the housing market, and stressed one solution that has not been applied by Fannie Mae and Freddie Mac: principal reduction.
Housing Notches Tiny Gains l Wall Street Journal - Real Estate
Home prices and sales of new units declined, but beneath disappointing headline numbers, there were other signs that housing could be slowly improving.
LPS: National Delinquency Rate Falls to Almost 7% l Origination News - REO
March represents the third consecutive month that the delinquency rate for the 40 million mortgages tracked by LPS declined.
Tips for creating compliant, non-AfBA business partnerships l The Title Report
Not necessarily a fan of affiliated business arrangements (AfBA) but looking for some type of synergy with your local clients? The recent Real Estate Services Providers Council’s (RESPRO) 2012 Annual Conference provided some tips on alternative strategies for approaching this type of business.
FAQ: Why the Credit Union Lending Bill Likely Won't Pass This Year l American Banker
Ignore the rhetoric from both sides on the issue. The odds that the business lending bill will be enacted this year are significantly slimmer than they were just last week.