2012 May | The Outspoken Investor

Affordable housing summit reflects better times for Valley homeownership

“The San Joaquin Valley Housing Collaborative has jump-started discussions about the region’s housing problems after a quiet year of co-sponsoring foreclosure recovery workshops.”

Should banks reduce mortgage principal?

“It appears more U.S. lenders have become more willing to do principal reductions. Bank of America officials, for instance, recently announced it will cut the unpaid mortgage balances for 200,000 borrowers.”

Cities with the most homes in foreclosure

“According to data released last week, the worst effects of the housing crisis are beginning to wind down. RealtyTrac’s latest report shows the number of foreclosures in the U.S. in April is down 13 percent to 188,780 from 219,258 a year ago.”

Under Pressure, FHA Skews to Wealthier Home Buyers

“The Federal Housing Administration, the government insurer of home mortgages, is often credited with saving the home finance market during the worst of the latest housing crash.”

Real estate industry pushes Senate on refi bill

“WASHINGTON (MarketWatch) — Real estate and mortgage industry leaders urged a Senate committee on Thursday to back a plan that would lower interest rates for homeowners with government-owned mortgages.”

Are O.C. home prices still too high?

“A decade ago this spring, I dared to ask “Have Orange County home prices peaked?”

In the post-9/11-dot-com-bust economic malaise, local housing was a rare bright spot. It wasn’t even yet the silly season for real estate, but home prices in 2002 had nearly doubled off the previous downturn’s bottom. And they’d more or less double again before, well, you know.”

9,200 OC homes worth half their mortgage

“An estimated 9,200 Orange County homeowners have mortgages that are double their homes’ current value, new figures on “underwater” home loans show.”

Seller's market returns as homes for sale drop in some areas

“Multiple offers and bidding wars have returned to some housing markets amid shrinking supplies of homes for sale.”

Senate Republicans may be on board with more HARP expansions

“Senate Republicans are considering some Democrat proposals to expand refinancing to even more Fannie Mae and Freddie Mac borrowers.”

MBA Increases Originations Estimate for 2012 by Almost $200 Billion

“Washington, DC (May 24, 2012) — The Mortgage Bankers Association (MBA) today announced it is increasing its mortgage origination forecast for 2012 by almost $200 billion, due entirely to an increase in refinances. MBA now expects that mortgage originations will reach $1.28 trillion in 2012, up from $1.26 trillion in 2011.”