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Mamta Badkar | Business Insider | “According to a report from the Mortgage Bankers Association, 11.8% of New Jersey’s loans in foreclosure are seriously delinquent. That figure sees New Jersey oust Florida from the top spot, which has 11.7% of seriously delinquent loans. New York takes the third spot at 9.11%. Following this, Bloomberg News reported that “the epicenterRead more

Prashant Gopal | Bloomberg | The rate of new foreclosures in the U.S. dropped to the lowest level in eight years as rising property prices erased negative equity and allowed more delinquent homeowners to sell without losing money. The share of loans on which foreclosure actions were started declined in the fourth quarter to 0.54 percent from 0.7 percentRead more

Prashant Gopal | Bloomberg | “The share of U.S. mortgages that are seriously delinquent fell to a five-year low as job gains help borrowers keep up on payments while rising home prices enable others to sell. The percentage of home loans that were more than 90 days behind or in the foreclosure process fell to 5.65 percent in theRead more

By Jeff Kearns | Bloomberg.com   “Federal Reserve Governor Elizabeth Duke said pending bank regulations may “seriously” impair mortgage lending by community banks, which play a “significant” role in the market for home loans. Duke, a former community bank executive, said she and other Fed governors, including Chairman Ben S. Bernanke, are concerned about the potential harm from several rules mandatedRead more

By Jody Shenn, Clea Benson and Heather Perlberg | “Fannie Mae (FNMA) and Ginnie Mae are seeking to protect taxpayers as a flood of new lenders apply to do business with them. That’s also helping big banks’ profit and blunting Federal Reserve efforts to boost housing. Fannie Mae, the government-supported mortgage financier, has begun limiting howRead more