There are some lessons the mortgage industry learned the hard way. We learned what happens when loans are made without adequately documenting income. We learned what happens when borrowers are qualified into products they do not understand or cannot reasonably afford....
The US housing market had a total of 39,906 residential properties with foreclosure filings during July, up 1% from the prior month and up 10% from one year ago. According to data from ATTOM, one in every 3,603 housing units nationwide had a foreclosure filing last...
Homebuyer affordability improved in July, with the national median mortgage payment applied for by purchase applicants decreasing to $2,175 from $2,191 in June. According to data from the Mortgage Bankers Association (MBA), last month’s national median mortgage...
A pair of vacant Connecticut office buildings have been acquired for redevelopment as multifamily housing. A joint venture of the developers Saber-Hightower LLC and Granoff Real Estate closed on the acquisition of 101 and 201 Merritt 7, in the Merritt 7 office park in...
The Federal Home Loan Bank System was created in 1932. I don’t bring up that date because there is anything inherently wrong with a 94-year-old institution. Some of the most important pieces of our housing-finance system have been around for generations. I bring...
HomeServices of America, a division of Berkshire Hathaway (NYSE: BRK.A), announced that its subsidiary Prosperity Home Mortgage LLC is adding mortgage servicing to its portfolio of services. Prosperity Home Mortgage is a full-service retail mortgage lender focused...
