Freddie Mac’s net income declined 14% year-over-year in the second quarter, because it increased its provision for credit losses. Fannie Mae, when it reported earnings on Wednesday, cited a similar reason as contributing to its own second quarter drop off. Still, Freddie Mac reported net income of $2.39 billion, compared with $2.83 billion in the […]
Freddie Mac lower Q2 income due to rising credit provisions Read More »
While Attom’s recent quarterly numbers for the share of underwater mortgages show improvement in the near term, the percentage is running higher than it was a year ago, revealing regions with stress. The share of seriously underwater loans relative to all outstanding mortgages stood at 2.7% at the close of the second quarter, according to
Underwater mortgages post uptick from year-ago levels Read More »
Economic worries and affordability challenges continued to weigh on the housing market, new data shows, hinting that the unusually slow summer sales could portend a more bearish market in the coming months. Housing prices rose 2.3% year-over-year in May, according to new data from the S&P CoreLogic Case-Shiller Index. This is the slowest increase in
Pronounced housing slowdown appears in latest index reports Read More »
The Department of Housing and Urban Development has been ordered by a federal judge in Washington to resume distribution of Fair Housing Initiatives Program funds. Judge Sparkle Sooknanan issued a temporary restraining order Monday in the case brought by the National Fair Housing Alliance and the Tennessee Fair Housing Council. The suit was filed in
HUD ordered to resume fair housing funds distribution Read More »
Opendoor, whose stock price has soared since early July, has postponed a special stockholder meeting originally scheduled for today to address a Nasdaq listing notification. The vote, now rescheduled for Aug. 27, concerns a potential reverse stock split that, if approved by shareholders and enacted by the board, could help remedy the company’s share price
Opendoor delays vote amid stock surge, Nasdaq threat Read More »
The Federal Housing Finance Agency is proposing to repeal its fair lending, fair housing and equitable housing finance rule, stating it is looking to comply with Pres. Trump’s executive orders. Furthermore, the rule is duplicative, with the laws behind each portion administered by other agencies. But Jannell Byrd-Chichester, general counsel for the National Fair Housing
FHFA set to end equitable housing finance plans for GSEs Read More »
Sales of new homes in the US remained weak in June as builders’ heavier use of sales incentives failed to motivate buyers put off by high costs. Contract signings on new single-family homes increased 0.6% to an annualized rate of 627,000 last month, according to government data released Thursday. That fell short of the 650,000
New-home sales remain tepid on affordability constraints Read More »
Foreclosure auction activity hit a two-year high on the back of a major jump in repossessions for Veterans Affairs-backed loans, a new report from Auction.com found. Auction activity rose 19% year-over-year, according to the report, led by a 428% jump in foreclosure sales on VA-backed loans. The report cited the Federal government ending a VA
Foreclosure auctions spike, but bidders hold off on buying Read More »
The second quarter was a mixed bag for a quartet of publicly traded homebuilders, reflecting the meh 2025 spring home purchase season. All four were profitable, but net income was lower compared with one year prior. The market wasn’t helped by a near 14% drop in the sale of newly constructed properties (on an annualized
Homebuilder profits slip year-over-year in difficult 2Q25 Read More »
Douglas Elliman, the nation’s sixth-largest real estate brokerage, is the latest firm to unite home sales and financing under one roof. The company has entered into a “strategic alliance” with Associated Mortgage Bankers, Ronkonkoma, New York, to create Elliman Capital. “By bringing mortgage services in-house, we’re creating an unprecedented level of convenience and oversight to
Douglas Elliman forms mortgage venture with AMB Read More »