By: Rachel Daniels According to an article released by the Federal Reserve Bank of Cleveland this week, much can be gleamed by studying the historic link between foreclosure and unemployment rates—including the fact that according to past patterns, we can expect the current high foreclosure rate to persist for some time. The article abstract., penned […]

By: Brittany Dunn The weekly mortgage rate reports released Thursday by Freddie Mac and Bankrate were mixed. But one thing was certain: the average rate for 30-year fixed-rate mortgages hit a new record low. According to Freddie Mac’s Primary Mortgage Market Survey, 30-year fixed-rate mortgages averaged 4.57 percent with an average 0.7 point for the […]

By: Carrie Bay The U.S. Small Business Administration (SBA) recently announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first mortgage loans. The federal agency called this “a major step to jump-starting a secondary market” that will make financing more accessible for small businesses. The […]

By: Brittany Dunn As fewer foreclosed properties sold and the impact of the federal homebuyer tax credit began to fade, May marked the first time in 21 months that Las Vegas region home sales dropped below the year-ago level, MDA DataQuick recently reported. According to the San Diego-based property data provider, a total of 4,386 […]

By: Brittany Dunn The seasonal improvement period for delinquencies and foreclosure inventories has come to a halt, according to an industry report released Thursday by Lender Processing Services (LPS). The Florida-based analytics firm’s monthly Mortgage Monitor report found that the total U.S. delinquency rate jumped to 9.2 percent in May, inching up 2.3 percent from […]

We are looking for a Tenant Eviction Attorney that works in Nassau and the Brooklyn area. If you email me at jobs@nyonlinerealty.com just put Eviction Attorney in the subject line.

By: Carrie Bay The Department of Veterans Affairs (VA) has joined federal agencies Fannie Mae and Freddie Mac in offering mortgage relief to borrowers who may be impacted by the BP oil spill still ravaging the Gulf Coast. The VA recently issued a notice to servicers of VA-guaranteed home loans instructing them to “extend every […]

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By: Carrie Bay The Home Valuation Code of Conduct (HVCC) instituted by Fannie Mae and Freddie Mac in May of last year has been a topic of heated debate and driven a wedge between industry players since it took form. The GSEs say it has eliminated undue influence and conflicts of interest on appraisals, while […]

If you feel you are facing a foreclosure and want to get out with your credit alive. There is something called a short sale. A short sale can save your credit and you can feel better again.  CALL us today at 516-798-3000 ask for John or MaryAnn and they can help you out. Or email […]

By: Brittany Dunn U.S. Reps. Jeff Miller (R-Florida) and Adam Putnam (R-Florida) have introduced legislation to provide mortgage forbearance to homeowners in the areas affected by the BP oil spill. “People in Northwest Florida are already dealing with the impact of oil on their shores and are worried about the long-term economic and environmental impact […]

By: Carrie Bay As the GSEs and other federal agencies involved in housing finance sell their collective inventory of repossessed homes, they will generate significant pressure on prices, according to a new report from the real estate analytics firm Radar Logic. And with an even larger share of government-backed loans in the delinquency pipeline, their […]

By: Carrie Bay Performance of home mortgages serviced by the largest national banks and federally regulated thrifts improved earlier this year, for the first time in more than 24 months. According to a report released Wednesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS), home loan […]

Ocwen Financial Corporation, a Florida-based servicer of subprime mortgages, continues to find its name at the top of the list of key performance metrics when it comes to the federal government’s Home Affordable Modification Program (HAMP). The U.S. Treasury’s just-released HAMP record card MHA Public 062110.pdf puts Ocwen in the upper echelon on several critical […]

By: Carrie Bay The Federal Reserve decided Wednesday to keep the target range of its benchmark federal funds rate at 0 to 0.25 percent – a level it’s maintained for a year and a half now. The continued holding pattern was widely expected, although central bank officials noted in their monetary policy statement that market […]