Housing Market

Detroit developer bids on 6,300 foreclosed properties in auction


DETROIT - A Detroit real estate developer whose group won a bundle of more than 6,300 properties in a county tax foreclosure auction said on Wednesday he intended to help get low-income residents into fixed up homes and turn vacant lots into community developments.

U.S. loan applications to buy homes lowest since February: MBA

NEW YORK - U.S. mortgage applications to buy homes fell to their lowest level last week since February as interest rates on 30-year home loans edged up from the previous week's 16-month trough, an industry group said on Wednesday.

29 Oct 2014

U.S. homeownership rate falls to 20-year low

WASHINGTON - Home ownership in the United States fell to a near 20-year low in the third quarter as more Americans turned to renting, in a sign housing still has a long way to fully recover from the effects of the recession.

28 Oct 2014

U.S. home prices rise less than expected in August: S&P/Case-Shiller

NEW YORK - U.S. single-family home prices rose in August on a year-over-year basis but fell short of expectations, a closely watched survey said on Tuesday.

28 Oct 2014

U.S. consumer watchdog finds 'illegal' acts in mortgage, student loans

WASHINGTON - Companies that service U.S. student loans and mortgages tricked customers into paying higher fees or engaged in other acts that violate U.S. consumer laws, the U.S. Consumer Financial Protection Bureau said in a report released on Tuesday.

U.S. services sector growth slows, pending home sales miss forecast

WASHINGTON - U.S. services sector activity dipped to a six-month low in October, while manufacturing output in Texas dipped, pointing to some moderation in economic growth early in the fourth quarter.

27 Oct 2014

Exclusive: Blackstone to seek $13 billion for global real estate fund - sources

NEW YORK - Blackstone Group LP , the world's largest private equity investor in real estate, is preparing to seek around $13 billion for its next flagship global real estate fund, in line with its predecessor fund, according to people familiar with the matter.

Deals, 27 Oct 2014

U.S. new home sales at six-year high; recovery still fragile

WASHINGTON - Sales of new U.S. single-family homes rose to a six-year high in September, but a sharp downward revision to August's sales pace indicated the housing recovery remains tentative.

24 Oct 2014

Ocwen to hire independent firm to probe backdated foreclosure letters

- Ocwen Financial Corp said it was hiring an independent firm to investigate how the mortgage servicer had sent backdated letters to borrowers about loan modifications and foreclosures and the reason for the delay in fixing the issue.

Americans face post-foreclosure hell as wages garnished, assets seized

NEW YORK - (This corrects paragraph 28 to show financial institutions in Maryland have 27 years, not 36, to collect deficiency judgments)