Purchase Applications Wane as Housing Affordability Reaches 39-Year Low
According to the November 2023 ICE Mortgage Monitor Report, purchase-mortgage applications declined nearly 50% below pre-pandemic levels, with annual home price growth experiencing the weakest monthly gain since January. Read [...]
FDIC Takes Over Fifth U.S. Bank of 2023
Due to financial instability, Sac City, Iowa-based Citizens Bank has been placed in receivership by the FDIC, marking the fifth U.S. bank failure reported this year. Source: DS News
Florida Court Affirms Foreclosure Judgment for HOA
Attorney Lisa Woodburn details a recent Florida case where a property owners association was awarded nearly $90,000 for delinquent assessments, interest, late charges, costs, and attorneys’ fees. Source: DS News
October Net New Listing Volume Sharply Down YoY
HouseCanary has released its most recent iteration of the Market Pulse Report covering October 2023 which showed that marked activity—in terms of net new listing volume—remains sharply down year-over-year as [...]
Homebuyers Finding Relief in Home Price Drops
Redfin reports that many home sellers are getting just two or three offers as opposed to 20 at the pinnacle of the market, as nearly 7% of the homes for-sale [...]
CFPB Examines State Community Reinvestment Laws
The Bureau has issued a new analysis on state Community Reinvestment Act laws, examining affirmative lending, service delivery, and investment obligations by mortgage companies and deposit-taking institutions. Source: DS News
FHA Extends Foreclosure Protections to Victims of Maui Wildfires
In an effort to assist borrowers impacted by Maui’s August wildfires, mortgage servicers will be prohibited from initiating or completing foreclosure actions through May 6, 2024. Source: DS News
Homeowner Equity Remained Strong During Q3, But Still Experienced a Drop
While underwater mortgages continue to improve throughout the U.S., ATTOM's 2023 U.S. Home Equity & Underwater Report revealed nearly half of all mortgaged properties were considered equity-rich in Q3, despite [...]
A Sign of Things to Come? Commercial Bankruptcies Doubled YoY
Total bankruptcy filings increased in October on a yearly basis at a rate of 24%. Click through to read an analysis of the latest data. Could it prove an alarm [...]