Archive for January, 2013


ResCap to Pay Fannie Mae $298 Million to End Objection

Residential Capital LLC, the mortgage company liquidating assets in bankruptcy, agreed to pay $297.6 million to end opposition by government-run loan investor Fannie Mae to the sale of ResCap’s main business. The Federal National Mortgage Association (FNMA) agreed to drop its objection to the $3 billion sale of ResCap’s mortgage servicing unit to Ocwen Financial […]

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Federal role in home mortgages keeps taxpayers on hot seat

B y Carten Cordell │ Watchdog.org ALEXANDRIA, Va. — Five years after the housing collapse of 2008, the government’s role in the mortgage market could still have taxpayers on the hook for another multibillion-dollar rescue of Fannie Mae and Freddie Mac. The Federal Housing Finance Agency took over both government-sponsored enterprises in 2008 to ensure their solvency in the wake […]

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US rate on 30-year mortgage rises to 3.53 pct.

WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage rose this week to its highest level in four months but remains low by historical standards. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 3.53 percent. That’s up from 3.42 percent last week and the first […]

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MGIC Announces A Streamlined Underwriting Program

Facebook Earnings Beat, Shares Sink: What’s the Deal?Breakout “In the end, you are left to decide if the 75% rally which preceded last night’s earnings announcement took most …

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Freddie Mac: Mortgage rates jump; 30-year up from 3.42% to 3.53%

The typical interest rate for a 30-year fixed-rate mortgage shot above 3.5% early this week for the first time in more than four months, according to the widely watched Freddie Mac survey. Freddie Mac’s weekly tally, released Thursday morning, showed lenders were offering the loan to solid borrowers at an average 3.53%, up from 3.42% […]

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Mortgage Rates Trending Higher

Facebook Earnings Beat, Shares Sink: What’s the Deal?Breakout “In the end, you are left to decide if the 75% rally which preceded last night’s earnings announcement took most …

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Earn a Reward Equal to Your National Dues from Your Credit Union

NAR PULSE—There is still time to learn how the Three Rs of Banking can equal $120 for you. Simply start a relationship with REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union, use their checking and online banking services and the amount of your 2013 NATIONAL ASSOCIATION OF REALTORS® membership dues could be […]

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Pending Home Sales Fall Due to Supply

The Realtors’ monthly index fell 5.4 percent in the Northeast month-to-month, rose 0.9 percent in the Midwest, fell 4.5 percent in the South and fell 8.2 percent in the West. The West, and its severely distressed markets like Phoenix and Las Vegas, has been the center of most investor interest and is therefore seeing the […]

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Veteran to head Realtors association

The Santa Clara County Association of Realtors on Friday announced industry veteran Carl San Miguel is its 2013 president. San Miguel is the broker and owner of Highland Properties in Campbell, a company he founded in 1972. ÊHe is involved in the sale of residential and commercial real estate, property management and loan services. This […]

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Pending Home Sales Fall Due to Dwindling Supply

Signed contracts to buy existing homes fell 4.3 percent in December from the previous month, according to a monthly index from the National Association of Realtors. That missed analysts’ expectations of a one A model home sits for sale in Carlsbad, California. REUTERS/Mike Blakepercent gain. The index is 6.9 percent higher than December of 2011. […]

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