Tulare County is not one of the lucky areas that come out of the mortgage crisis with a faster recovery. Instead figures from Corelogic shows a near double compared to the same period last year. This trend is still common across the country.
Fir Tree raised $400 million from investors to invest in mortgage securities that may have undiscovered long term value. The fund will ride out short term swings as the mortgage market stabilizes. Maybe some D rated mortgage back bonds are really AAA rated. Only time will tell.
Benton and Washington counties sold more family homes this month than the previous month. This is a result of average house prices that at 8.4% lower than the same period last year. Home buyers are also taking advantage of lower overall mortgage rates offered by lenders.
http://www.arkansasbusiness.com/article.aspx?aid=115869.54928.127998
Mortgage insurer PMI Group is forecasting lower housing prices by the end of March 2011 in 30 of the top 50 metropolitan areas. Forecasting algorithm uses a combination of price-appreciation trends, affordability, unemployment, interest rates and local economic conditions.
http://www.inman.com/news/2009/07/8/mortgage-insurer-ids-weak-markets
You can view a copy of the PMI research report at http://www.pmi-us.com/econ/index.html
Mortgage lender – North American Real Estate Services Inc. has been fined and ordered to repay homeowners by North Carolina officials for avoiding state regulations.