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Sep 07, 2016 12:30 PM

Boston Fed: Low Interest Rates Could Harm CRE Market

Eight years of low interest rates resulted in a rapid increase in commercial real estate prices that could quickly decrease if economic conditions change, according to Boston Fed President Eric Rosengren, The Street reported Aug. 31. Rosengren recommends raising interest rates to keep the commercial real estate market from overheating.

Sep 07, 2016 12:30 PM

Freddie Mac: Housing Market Remains Stable

The housing market is largely unchanged from the previous month and is on the outer range of the benchmark for historic housing activity, Freddie Mac reported Aug. 31 in its Multi-Indicator Market Index. Thirty-eight states plus the District of Columbia have MiMi values within range of their benchmark averages.

Sep 07, 2016 12:30 PM

States Still Struggle with Bubble-era Loans: Report

Ten years after the housing bubble burst, nine states and the District of Columbia still have a foreclosure backlog of loans originated between 2004 and 2008, according to analytics firm ATTOM Data Solutions, Forbes reported Aug. 26. Topping the list is the District of Columbia, where 76 percent of loans originated during that four-year period are in foreclosure.

Aug 31, 2016 12:30 PM

FHFA Extends HARP into 2017, Launches New Refi Program

The Federal Housing Finance Agency announced Aug. 25 that its Home Affordable Refinance Program will be extended to Sept. 30, 2017, and that a new refinance product aimed at borrowers with high loan-to-value ratios will be available next year through Fannie Mae and Freddie Mac.

Aug 31, 2016 12:30 PM

Appeals Court Declines to Reconsider Bank of America Ruling

The 2nd U.S. Circuit Court of Appeals in New York on Aug. 22 rejected a request to reconsider its ruling that overturned a $1.27 billion penalty against Bank of America for mortgage fraud, Reuters reported. Manhattan U.S. Attorney Preet Bharara had hoped the government could pursue a new trial.

Aug 31, 2016 12:30 PM

Fixed Mortgage Rates Unchanged

Average fixed mortgage rates were unchanged during the past week, remaining near historic lows ahead of Fed Chair Janet Yellen's comments on a possible rate hike, Freddie Mac reported Aug. 25 in its Primary Mortgage Market Survey.

Aug 24, 2016 12:30 PM

FEMA Proposes New Rules for Construction in Flood Zones

The Federal Emergency Management Agency proposed regulations Aug. 22 that would require developers and homeowners using federal funds for construction projects in flood zones to build on higher ground - in some cases as much as two feet higher than 100-year floodplains.

Aug 24, 2016 12:30 PM

ASB Releases Second Exposure Draft on 2018-19 USPAP

The Appraisal Standards Board of The Appraisal Foundation on Aug. 16 released its second exposure draft on proposed changes for the 2018-19 edition of the Uniform Standards of Professional Appraisal Practice. Changes in this version primarily address draft reports and preliminary communication of an appraiser’s assignment results. Comments are due Oct. 21.

Aug 24, 2016 12:30 PM

Fannie Mae: Expect Economic Rebound

Economic growth is expected to rebound for the remainder of the year thanks to a higher than expected July jobs report, credit expansion, improving labor market conditions and strengthening household finances, Fannie Mae reported Aug. 18 in its newest Economic and Housing Outlook report.

Aug 17, 2016 12:30 PM

Fannie, Freddie May Require Billions in Crisis Bailout

The Federal Housing Finance Agency on Aug. 8 released stress test results for government-sponsored enterprises Fannie Mae and Freddie Mac that showed the GSEs could need as much as $125.8 billion in bailout money during a severe economic downturn, Bloomberg reported. FHFA said the minimum bailout figure would be $49.2 billion.

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