8 Articles match "July","Real Estate","Subprime"

• The Best from RealtyTrac

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• July Foreclosure Report
  
  foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details . That is in contrast to REOs accounting for just 16 percent of all activity in July 2007, while defaults in July 2007 were still at 41 percent and auction notices were at 43 percent. U.S. Bank Repossessions (REOs) accounted for 28 percent of all activity during the month, while defaults accounted for 41 percent and auction notices accounted for 31 percent.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• MBA Numbers Mirror RealtyTrac Data:
  
  percent from July through September. Among subprime borrowers, the rate of delinquencies and foreclosures were much higher, rising to 12.6 percent of all subprime adjustable mortgages were delinquent or going through the foreclosure process in the third quarter. “Third Increases in delinquency rates were noticeably larger for subprime loans, particularly subprime ARMs.” The number of delinquent mortgage payments and foreclosures jumped in recent months, according to a new survey released today by the Mortgage Bankers Association . The MBA’s quarterly report
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• What's Causing the Credit Crunch?
  
  Skyrocketing foreclosure filings on subprime loans, those made to borrowers with poor credit, have caused huge losses for Wall Street hedge funds and other buyers of securities backed by those mortgages. Meanwhile, nervous lenders have responded by tightening their lending standards, making it more difficult and expensive for real estate investors and homeowners to borrow money, according to new survey conducted by the Federal Reserve in July. A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The $3 Billion Foreclosure Payday
  
  Meanwhile, Wall Street had started a new trading index to bet for or against subprime mortgages, called the ABX, which reflect the value of a pool of subprime mortgages made over a six month period. In July 2006, the ABX index began with a value of 100, but it soon fell to 60 and Paulson’s profits began to pile up. As the more and more subprime mortgage giants tumbled You may not know who John Paulson is, but you soon will. Last year, Paulson made $3 billion betting on foreclosures .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Lending Standards Continue to Tighten
  
  The Fed’s July 2008 Senior Loan Officer Opinion Survey , which covered 52 domestic banks and 21 U.S. And six out of seven banks that originate subprime loans said they had tightened lending standards on those loans in the last three months. About 45 percent of loan officers from domestic banks said they expected their banks to tighten lending standards on prime home loans in the second half of they year, and about 65 percent said they expected standards on nontraditional The results of a new survey released today by the Federal Reserve confirms what many people looking to buy or refinance already know — it’s hard to get approved for a loan.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• I'll Take Sour Cream and Chives
  
  RealtyTrac’s latest numbers released this morning show that the top five states with the highest number of foreclosure filings in July accounted for 55 percent of all foreclosure filings in the country. (see Edwards had to deflect some controversy last week as it was revealed that the former North Carolina senator reportedly has invested $16 million in a hedge fund involving subprime lenders that are presently foreclosing on homeowners in New Orleans after the devastation of Hurricane Katrina. No butter for me. Personally, I like my hot baked potato covered with sour cream and chives.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• OTS Director Offers Alternative Plan to Congress
  
  Representing the interests of the 826 thrift institutions under his agency’s supervision, Reich began by explaining to committee members just how much of a stake the thrift industry has in loan originations in this country and how much the subprime meltdown has impacted its members’ businesses. Having such a vested interest in how many borrowers will continue to go into foreclosure as more and more subprime loans reset to higher interest rates in the immediate future (the OTS report estimates that 1.3 In a statement delivered before the Committee on Financial Services of the U.S.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Home Prices Plummet, When Will You Buy?
  
  Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from their peak in July 2006. "There percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 Does this make it a good time to buy real estate? percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today. Prices in those metro areas were down 19.5
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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