Existing homes sales improved 5.6 percent to a to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October according to the National Association of Realtors.  However, sales remain 27.9 percent below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit. [...]

The number of reverse mortgage applications fell 0.4% in November, coming in at 8,217 units according to data released by the Department of Housing and Urban Development (HUD).  While the number may not be too exciting, November’s application volume is up 25% from last year. Overall, Federal Housing Administration applications fell 19.5% during the month, [...]

A contract the Department of Housing and Urban Development awarded to service a group of loans insured by the Federal Housing Administration has been deemed illegal in Federal court.  The contract, given to C&L Service Corporation with Morris-Griffin Corporation (MGC) as the subcontractor was in dispute because MGC asked a judge to force C&L to [...]

1st Maryland Mortgage Corp (dba Great Oak Lending Partners) announced it has held onto the title of #1 reverse mortgage lender in Maryland for the fiscal 3rd quarter of 2010 according to data from Reverse Market Insight. It’s the second consecutive quarter that the company has held the number one position as it begins to expand [...]

The Midwest region experienced the biggest quarterly price change (-9.9%), and increasing number of local markets drop into double dip territory according to the Clear Capital monthly Home Data Index™ (HDI) Market Report. Through November 2010, the quarter over quarter price saw national prices fall 5.8%.  While current quarterly and yearly price changes indicate Denver is [...]

With only a few more days until 2011, we thought it was the perfect time to reflect on the past year and that means showing you the biggest news of 2010. While 2010 was a challenging year, it hasn’t been all negative.  The Department of Housing and Urban Development released a new low cost reverse mortgage [...]