By: Carrie Bay Could the U.S. economy slip back into the throes of the recession that nearly crippled the nation’s financial system and protracted any semblance of a housing recovery? The analysts at Moody’s Investors Service think so. “The risk of a double-dip recession is rising. We believe the odds of a near-term double dip […]

By: Carrie Bay The percentage of borrowers underwater on their mortgage declined during the second quarter, but that welcome change of pace could come to an abrupt end as home values are again beginning to fall in markets across the country. The real estate data provider Zillow reported Monday that negative equity — which refers […]

By: Carrie Bay Fannie Mae’s second-quarter losses narrowed considerably from the demoralizing financials of the past several years that found the nation’s largest mortgage financier underwater itself in a sea of red ink. The GSE reported late Thursday that it lost $1.2 billion during the second quarter of 2010, compared to a net loss of […]

By: Carrie Bay The nation’s REO stock fell 0.6 percent in May to 524,000 properties, according to analysis released by Barclays Capital. In addition, the research firm estimates that housing’s shadow inventory – which Barclays defines as the supply of homes that are 90 or more days delinquent or in the process of foreclosure, meaning […]

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By: Carrie Bay The Federal Housing Administration (FHA) has just $3.5 billion in its ‘capital reserve account,’ according to the agency’s quarterly report submitted to Congress this week. That’s lower than the $3.6 billion reserve balance last November when FHA informed officials that its cash cushion had fallen below the lawfully permitted threshold. The decline […]

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By: Carrie Bay Mortgage borrowers with balances over $1 million are faring just as poorly, but not worse, than borrowers with lower balances, according to Moody’s Investors Service. According to the New York-based credit rating agency’s data of securitized private-label mortgages, as of June 2010, mortgages originated from 2005 to 2008 are 60 or more […]

By: Carrie Bay The nation’s failed-bank tally continues to climb. Regulators closed the doors on five more financial institutions over the weekend – two in Florida and one each in Georgia, Oregon, and Washington. That pushes the number of bank closings for the year to 108. In Florida, Port Saint Joe’s Bayside Savings Bank and […]

By: Carrie Bay Fannie Mae is building the “strongest book of business we’ve seen in the last decade,” the GSE’s president and CEO, Michael Williams, proclaimed to a group of industry professionals this week. While tighter underwriting standards may mean fewer consumers are able to get loans and banks are holding credit close to their […]

By: Carrie Bay A new report published by RealtyTrac Thursday shows that 75 percent of the nation’s largest metro areas posted increases in foreclosure activity during the first half of 2010. RealtyTrac says it’s seeing early signs that foreclosures may have peaked in some hard-hit markets, but with three-quarters of the nation’s most populated metros […]

By: Carrie Bay The nation’s foreclosure crisis and economic pressures, such as rising unemployment, continue to batter the U.S. housing market, as evidenced by the latest figures from the Census Bureau on homeownership rates. Data released by the federal agency Tuesday shows that the U.S. homeownership rate dropped to 66.9 percent during the second quarter […]

By: Carrie Bay A drop in homebuyer activity following the contract deadline for the federal tax credit incentive helped trigger a noticeable decline in home prices between May and June, according to an industry study released Monday by the research firm Campbell Surveys. The company’s latest market analysis found that home prices fell in three […]

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