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Multifamily sales volume reached a new high in 2014, and debt and equity markets remained strong, according to real estate firms JLL and Marcus & Millichap, MBA NewsLink reported Jan. 29. The multifamily sector saw $100 billion in fourth quarter transactions, up 32 percent from the same point a [...]
A home auction program launched last May in Detroit met its goal of auctioning nearly 400 abandoned homes, but only one-third of the sales actually closed — a snag that’s being partly blamed on appraisals and the comparisons being used, The Detroit News reported Jan. 23.
The Consumer Financial Protection Bureau on Jan. 29 proposed several changes to its mortgage rules to expand lending in rural and other underserved areas. If finalized, the proposal would increase the number of financial institutions allowed to offer loans in those areas.
The U.S. Court of Federal Claims on Jan. 28 rejected a bid by the federal government to delay a series of lawsuits filed by investors challenging the U.S. Department of the Treasury’s decision to take profits from now-profitable Fannie Mae and Freddie Mac, Bloomberg reported.
The U.S. Department of Commerce announced Jan. 29 that the nation’s homeownership rate dropped to 63.9 percent in the fourth quarter — a 20-year low, Reuters reported. However, household formation more than quadrupled during the fourth quarter 2014 to 1.7 million, which is expected t [...]
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