REO inventories for Fannie Mae fell by 43,961 units in 2011, as it disposed of more distressed units than it acquired, according to data it released yesterday. The GSE sold 243,657 units in 2011, while overtaking just 199,696; those

Construction spending posted a strong 7.1 percent year-over-year increase for the month of January, and though spending was mainly flat from December, it did show an uptick in residential

Homes in some state of foreclosure accounted for 24 percent of all U.S. residential sales during the fourth quarter of 2011, up from 20 percent in quarter three but down from 26 percent in 2010’s fourth quarter, according to the latest

In early February, news leaked that Bank of America was so overwhelmed by homeowners applying for the Home Affordable Refinance Program (HARP) that it was literally asking borrowers to wait 60 to 90 days before starting their applications; if

Two government mortgage bodies, Fannie Mae and the Federal Housing Administration (FHA), are revisiting their policies regarding condominiums, though their approaches could have contradictory effects on the condo

The Conference Board, the non-profit research group that is responsible for some of the world’s most closely-watched economic indexes, announced yesterday that consumer confidence rose 9.3 points in February in what is perhaps the strongest indication yet that the economy

The Department of Housing and Urban Development (HUD) slapped Bank of America (BofA) on Monday with a housing discrimination suit claiming that the bank unfairly treated homebuyers with disabilities. According to a press release released by HUD, BofA violated

The Federal Housing Administration (FHA) has officially announced that, in an effort to boost its Mutual Mortgage Insurance Fund (MMI), it will raise its insurance premiums in April. Confirming statements made last week by the agency’s Acting Director Carol

The principal modification just earned a new player in the form of Earl Blumenauer, a Democratic congressman from Oregon who is backing a bill that would allow bankruptcy judges to force write downs on loans during bankruptcy proceedings. The

The Federal Housing Finance Agency (FHFA) yesterday announced the pilot transaction for its new REO Initiative, a program that targets some of the hardest-hit metropolitan areas with the intention of converting vacant and distressed properties into rental units. Now, pre-qualified

Bank of America’s long-running relationship with Fannie Mae ended late last week, when the bank announced that it would no longer sell new mortgages to the GSE. According to a New York Times overview of the split, tensions were running

The Pending Home Sales Index (PHSI), a monthly measure of pending home sales activity from the National Association of Realtors (NAR), posted both monthly and yearly increases for January, evidence of continued gains in housing for the next two

For nearly four years now, the narrative in housing has been essentially unchanged – as soon as inventories go down, and the vast number of vacant, excess homes are cleared from the market, prices will increase and a housing

The housing market is expected to make a positive contribution to gross domestic product for the first time in seven years in 2012, albeit a very modest one, according to Fannie Mae. The government-sponsored enterprise reported gross domestic product

By Stephanie Becerra Real estate photography has flourished into a powerful and lucrative industry despite the economic state, because selling houses is no different than selling products. Today, Realtors are highly cognizant that high-quality images not only sell homes,

How did existing-home sales look in January? Is Quicken Loans preparing to take the stand in the nation’s highest court? And could Illinois become even more smoke free? We look at the week’s top news (Feb. 20 – Feb.