January 2013 Blog Posts (2)

Housing Recovery Bailed Out 1.4 Million Underwater Homeowners in 2012

One of the most significant effects of the nation's housing bust has been the swelling ranks of underwater borrowers trapped in homes worth far less than they are worth.

But thanks to sustained rises in home prices, the number of homeowners stuck in the negative equity trap is dwindling. According to analytics firm CoreLogic, 100,000 borrowers edged into the positive equity territory in the third quarter of 2012, adding to the more than 1.3 million borrowers that…

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Added by Realty Associated on January 20, 2013 at 11:39am — No Comments

CFPB compensation rules shift mortgage broker direction

The Consumer Financial Protection Bureau topped off a week of mortgage rule rollouts by launching the agency's guidelines for loan officer and broker compensation Friday.

Among other provisions, the CFPB's final rule keeps originators from steering borrowers into risky and high-cost loans, ends dual compensation from both the consumer and creditor and bans the attachment of mandatory arbitration agreements to mortgage and home equity…

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Added by Realty Associated on January 20, 2013 at 11:17am — No Comments

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