Fannie Extends Closing Cost Incentive to Buyers

Fannie Extends Closing Cost Incentive to Buyers

Due to strong buyer response, Fannie Mae has announced it will extend the deadline for an incentive program that allows home buyers to receive up to 3.5 percent in closing cost assistance on purchases of its HomePath foreclosed properties. Home buyers now have until April 30 to submit offers on the REO homes, and transactions must close by June 30 to be eligible. Originally, the incentive applied for offers submitted by March 31 and transactions that closed before May 31. See which states.

Discovery Gateway Children's Museum

Discovery Gateway Children's Museum

Zions Bank Public Finance helped this non–profit museum expand their space within one of Utah’s premier outdoor shopping centers. The Discovery Gateway Children's Museum is a place where kids of all ages can learn about science. Zions Bank Public Finance helped this non-profit museum expand their space within one of Utah's premier outdoor shopping centers. Watch the video to discover more.

High Expectations for Retirement Homes

High Expectations for Retirement Homes

Survey: Seventy percent of Baby Boomers say that the house they live in when they retire will be the best home they've ever had, according to a survey conducted by Better Homes and Gardens Real Estate. The survey had 1,000 respondents.

What’s more, 57 percent say they plan to move out of their current home in order to search for their dream retirement home. Where are the top towns to spend your golden years?

New Report Faults Fannie, Freddie

New Report Faults Fannie, Freddie

Foreclosure Inspections: An investigation into the pre-foreclosure inspections conducted by mortgage giants Fannie Mae and Freddie Mac revealed several errors – including reports that possibly included fraudulent data – and raised "serious quality control issues, claims a new report from the Office of Inspector General for the Federal Housing Finance Agency. The report alleges that the Fannie Mae and Freddie Mac did "not have quality controls in place to obtain reasonable assurance that pre-foreclosure property inspection information is accurate, consistent, and complete." The government-sponsored enterprises paid more than $91.2 million in pre-foreclosure property inspections in 2011 and 2012. Read more on distress properties.

More Banks Lower FICO Score Requirements

More Banks Lower FICO Score Requirements

More banks are lowering minimum FICO score requirements in an attempt to shore up lending for underserved borrowers.

Carrington Mortgage Services is the latest company to announce that it has lowered its minimum FICO score.  It also has expanded guidelines on several FHA, VA, and USDA loan programs to aid those with below FICO scores. Wells Fargo, the nation’s largest mortgage lender, said in February that it was lowering its minimum FICO score requirements on FHA-backed mortgages.

Forecast Home Price Increases

Forecast Home Price Increases
REALTORS® expect home prices to continue to rise over the next 12 months. 
But they expect them to do so at a moderate pace, given tight credit conditions and the chipping away of home affordability, according to the latest REALTORS® Confidence Index, a monthly survey distributed to more than 50,000 real estate practitioners to gauge expectations over home sales, prices, and market conditions. In states with booming economies like Utah, North Dakota, Texas, Michigan, and the D.C.-metro area, the expected price increase is about 3 to 5 percent. read more

More Homes Hit the Market in Time for Spring

More Homes Hit the Market in Time for Spring
Inventories of homes for sale have increased 10 percent year-over-year, 
signaling growing seller optimism and a strong, early start to the spring home-buying season, National Housing Trend Report, which tracks 146 markets. The median list price edged up 76 percent higher in February compared to year-ago levels. The median age of inventory also rose 6.5 percent year-over-year to 114 days. “Overall, these figures indicate a continued reinforcement of steady gains and market stabilization that we've been watching since late last summer. read more