Astepahead
Providing Cutting Edge Data and Information
on the Evolving Real Estate Market
With Occasional Commentary
ARCHIVED BLOG POSTS
2011
PMI Mortgage Insurance Co. (PMI) and PMI Insurance Co. (PIC) have been taken into conservatorship by the Arizona Department of Insurance. As of June 30, PMI was unable to meet its required minimum policyholder position. PMI announced on its website that there will not be a moratorium on claim ...
10/25/2011
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HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers. Overview of Requriements:1. Buyers need a down payment of only $100 to purchase a HUD-owned REO home. (Underwriting guidelines apply, and the sale must be for the full amount of the cur...
10/24/2011
Current Economic Conditions by Federal Reserve District Real Estate and Construction All twelve Districts reported that real estate and construction activity was little changed on balance from the prior report. Residential construction remained at low levels, particularly for single-family homes...
10/20/2011
Bank of America has begun a pilot program in Florida offering extra incentive payouts to distressed homeowners who agree to and successfully close on a short sale. Incentive payments for relocation assistance range between $5,000 and $20,000. The program is being offered on a limited basis for in...
10/12/2011
The Federal Deposit Insurance Corporation requested public comment on a proposed regulation implementing the so-called "Volcker Rule" requirements of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. That section of the Act generally prohibits two activities of banking...
10/11/2011
FICO’s latest quarterly survey of bank risk professionals offered a decidedly pessimistic outlook, reversing the growing optimism seen in late 2010 and early 2011. The survey, conducted for FICO by the Professional Risk Managers’ International Association (PRMIA), shows that bankers expect delinq...
10/04/2011
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Providing Cutting Edge Data and Information
on the Evolving Real Estate Market
With Occasional Commentary