News

The National Auctioneers Association (NAA), headquartered in Overland Park, Kansas, released the results of its 2008 industry survey this week. The report showed an increase in revenue from residential real estate sold at auction.

In an effort to help reduce the surplus of vacant homes sitting on the market, Hudson & Marshall has developed the Alliance Network Program to attract more buyers and tenants in search of affordable housing to its auctions.

As part of the administration’s Financial Stability Plan, on Tuesday, the Department of the Treasury and the Federal Reserve Board announced the launch of the Term Asset-Backed Securities Loan Facility (TALF).

The Treasury Department released guidelines on Wednesday that will enable servicers to begin modifications of eligible mortgages under the administration’s Homeowner Affordability and Stability Plan – announced by President Barack Obama just two weeks ago.

Amidst the announcement of President Barack Obama’s housing plan, and with mortgage rates reaching historic lows, Seattle-based real estate web site Zillow.com reports record-breaking traffic and loan request activity within its free marketplace for custom mortgage quotes.

With President Obama’s recent proposal to provide $75 billion to help modify home loans, millions of Americans on the brink of foreclosure now have hope in sight. But what’s uncertain, particularly for those who are facing imminent foreclosure, is how quickly the assistance will funnel down the pipeline to homeowners.

Citigroup announced on Tuesday that it is initiating a new mortgage program to help the rising numbers of unemployed Americans hold onto their homes. The initiative is aimed at those homeowners whose economic conditions have changed because of the deteriorating national economy, leaving them unable to meet their mortgage obligations.

Washington, D.C.-based Fannie Mae reported a loss of $58.7 billion, or ($24.04) per diluted share for fiscal year 2008. The GSE’s annual deficit is a significant increase from 2007, when the company reported a loss of $2.

HOPE NOW, a foreclosure prevention alliance of mortgage servicers, non-profit counselors, and investors, today announced that its members and the larger mortgage lending industry modified 123,000 mortgages in January 2009.

According to a new report released Tuesday by the National Association of Realtors (NAR), pending home sales declined on the heels of a weakening economy as buyers awaited clarity on the federal government’s housing stimulus provisions.