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Changes made to the Home Affordable Refinance Program could open the initiative up to almost twice the number of borrowers eligible under previous criteria, according to a DataQuick study. Researchers found that 6.7 million more households may qualify under HARP 2.0, which has been tweaked to now include borrowers with an 80 percent or more loan-to-value ratio on their homes.   The author of this article is: realtormag.realtor.org  See the original post at: http://realtormag.realtor.org/daily-news/2012/02/07/harp-20-could-help-67-m-more-borrowers At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate […]

Changes made to the Home Affordable Refinance Program could open the platform up to nearly double the number of homeowners eligible per previous requirements. A study from San Diego-based DataQuick found an additional 6.7 million households may qualify under HARP 2.0, according to new loan-to-value ratio requirements. Those changes remove a 125% LTV upper limit, altering it to include borrowers with 80% or more LTV on their homes. In total, DataQuick said 13.8 million mortgages meet HARP requirements based on LTV ratios, with the 6.7 million accounting for loans with […]

Real estate investment firm Post Properties ($44.95 0.21%) saw its funds from operations fall slightly in the fourth quarter to $20.9 million from $21.1 million a year earlier on reduced incremental gains from condo sales. That breaks down to 40 cents a share for the Atlanta-based REIT, down from 43 cents a share in the fourth quarter 2010. FFO per share met analyst expectations, according to Yahoo Finance. FFO represents an operating measure of a REIT’s performance, according to the National Association of Real Estate Investment Trusts. Net income, another […]

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Home prices and sales remained fragile in January even as housing inventory levels and foreclosure starts improved during the same month, the Obama administration said in its latest Housing Scorecard Report. Inventories of existing homes for sale declined from 3.2 million in the second quarter of 2011 to 2.4 million in the fourth quarter, according to data from the U.S. Department of Housing and Urban Development and the Treasury. Overall, housing results were a mixed bag, the scorecard said. Inventory levels improved in the last two quarters while the number […]

The Treasury Department said it expects mortgage servicers to begin evaluating borrowers under an expanded Home Affordable Modification Program in May. The latest program is being referred to as HAMP 2.5. In January, the Treasury extended the application deadline to the end of 2013, eased debt-to-income requirements, allowed investors with rental homes into the program, and announced it would pay investors triple for principal reductions. While the administration wouldn’t estimate how many borrowers could be allowed into the program as a result of the changes, bank analysts said it could net roughly 500,000 extra modifications. Roughly […]

Multifamily loans backing commercial mortgage-backed securities are performing better than expected, but remain weighed down by the influence of rent-stabilized properties in New York, a Fitch Ratings report said Friday. “Multifamily loans, along with hotels, have rebounded by the most strides over the past two years,” said Huxley Somerville, managing director of Fitch Ratings. Somerville claims in a research note that multifamily loans in New York are driving total late-payment rates higher in the segment. In 2006 and 2007, issuers underwrote fixed-rate multifamily loans with stabilization plans, whereby rent stabilized […]

New York Attorney General Eric Schneiderman filed a lawsuit Friday against three of the nation’s biggest banks and Mortgage Electronic Registration Systems over allegedly fraudulent foreclosure actions. In the complaint, Schneiderman said the creation of MERS led to a system that resulted in homeowners and public servants being unable to track their own mortgages. MERS, in response, said that is not operating outside the law and that pass judgement will exonerate the validity of the electonic registry’s actions. Schneiderman, who also named Bank of America ($8.18 0.05%), JPMorgan Chase ($37.86 […]

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“Cash-out” refinances hit a 26-year low in the fourth quarter at Freddie Mac, as more homeowners looked to maintain or lower their mortgage balance. The mortgage giant said Thursday 85% of borrowers refinanced with the same or lower loan balance, a bump up from 82% in the third quarter. That breaks down to 37% who maintained their balance and 49% who lowered it by paying additional money at closing. Cash-out refinances, or balances increased by at least 5%, made up just 15% in the fourth quarter, a sharp drop from […]