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Home | News (page 1266)

Housing Turnaround Seen in Direct Mail

After months of plummeting, mortgage and home equity marketing via direct mail campaigns is finally leveling off, and according to the Chicago-based direct marketing firm Mintel Comperemedia, this detail points to a turnaround in the housing industry.

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Industry Veterans Form Distressed Asset Management Alliance

Boston-based Real Estate Fiduciary Services (REFS), a real estate investment strategist company, has announced the formation of a specialized Asset Management Alliance. Led by REFS President John Baczewski and comprised of seven other senior-level real estate practitioners from diverse backgrounds and cities, the alliance was created in response to the growing number of real estate investors, lenders, and owners with financially distressed and underperforming assets.

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Fed Maintains Rate, Bond Purchases

Citing signs that the U.S. economy is beginning to show improvement but remains strained, the Federal Reserve Board decided this week to leave its benchmark federal funds rate at a target range of 0 to 0.

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NBA All-Stars Take on Miami Foreclosures

Miami Heat basketball star Dwyane Wade and retired Heat center Alonzo Mourning harnessed their celebrity influence Thursday to raise awareness of the foreclosure crisis in Miami and the affordable, certified resources available to struggling homeowners.

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GSEs' Loan Mods Up 57 Percent

Fannie Mae and Freddie Mac modified nearly 37,000 home loans during the first quarter of 2009, according to the GSEs’ regulator, the Federal Housing Finance Agency (FHFA). The Q1 figure represents a 57 percent increase over the fourth quarter of 2008 and more than double the number of modifications made in the first quarter of last year.

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MBA: Mortgage Apps Increase

The Mortgage Bankers Association (MBA) issued its Weekly Mortgage Applications Survey on Wednesday, which showed the applications for home loans – both new purchases and refinances – rose last week.

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Mortgage Rates Remain Relatively Flat

Mortgage rates shifted only slightly this week amid mixed reports on the state of the housing market, according to the Primary Mortgage Market Survey (PMMS) issued by Freddie Mac on Thursday. Frank Nothaft, Freddie Mac’s VP and chief economist, pointed to numbers released by the National Association of Realtors earlier this week, which showed that sales of existing homes have risen for two consecutive months.

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Texas Bank Sees Mortgage Lending Boom

Colonial Savings F.A., headquartered in Fort Worth, Texas, says government initiatives to lower interest rates and provide incentives to first-time buyers have led to a lending boom for the bank’s mortgage divisions.

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