As Fannie Mae did earlier in January, Freddie Mac kicked off 2016 in a big way with residential non-performing loan (NPL) sales. On Friday, Freddie Mac announced its largest bulk NPL transaction yet—an auction of residential NPLs serviced by Nationstar Mortgage totaling $1.6 billion in unpaid principal balance (UPB).

The NPLs are being offered in seven pools—five Standard Pool Offerings (SPOs), which are geographically diversified, and two Extended Timeline Pool Offerings (EXPOs), which are geographically concentrated. EXPOs. While SPOs often include larger pools of loans, the loans featured in EXPOs include smaller pool sizes and a longer marketing period, and target participation from smaller investors, including non-profits and minority- and…

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1031 Crestview Ln, Casselberry FL

$85,000 

Beds  4 Baths   Sq Ft  2,084 Built  2007

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Huge manufactured home in Casselberry - Come and see this wonderful home today! This home boasts 4 beds, 3 baths, a huge kitchen with cooking island, dining room, living room with wood burning fireplace and big family room on a great open floor plan set up. Split bedrooms means the Master Bed is the other side of the house to the other 3 bedrooms. The Master's en-suite has separate shower as well as a garden tub and double vanity sinks. The second bedroom has it's own small wooden deck, as does a side door off the living room. 

 

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A 15-year mortgage is a smart choice for households in housing markets where price increases have been modest, but a tougher call for households in hotter markets.

The Federal Reserve Board is on track to raise interest rates as soon as today. It’s a move that will mean higher mortgage rates, higher monthly payments, and reduced purchasing power for new borrowers. Homebuyers, who haven’t seen an interest rate increase in nearly 10 years, may be tempted by lower-rate 15-year mortgages. But do the advantages of a 15-year mortgage outweigh the costs? The answer depends partly on where you live.

We’ve crunched the numbers for the largest U.S. metros, and found that:

  • With the median US household income, a 30-year mortgage allows homebuyers to…

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Today's the big day for the Citrus Bowl parade in downtown, so plan your travel time in and out accordingly.

Now, let's start this morning with an interesting item from Forbes, which named Orlando as one of the top "Cities Doing the Most to Address the U.S. Housing Shortage."

Forbes notes that nationwide, there is an undersupply of new housing, but some metros are doing better than others at meeting demand.

Orlando is No. 5, with 19,306 permitted multifamily units, trailing only Charlotte, Houston, Raleigh and Austin in the rankings, which were created by looking at the number of building permits for single and multifamily units in the 53 largest U.S. metros from 2011 through 2014 as compared to those metros' existing housing bases.

If you…

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The National Association of Realtors (NAR) released their latest Existing Home Sales Report which covered sales in November. The report revealed that sales:

“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”

That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which went into effect on October 3. These regulations caused house closings to be…

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In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of those reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always, find some…

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In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of…

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The Federal Reserve made the long-awaited, much-anticipated announcement on Wednesday afternoon that federal funds target rate will increase by 25 basis points from its near-zero level where it has been since 2006.

The announcement came as the Fed wrapped its eighth and final Federal Open Market Committee (FOMC) meeting of 2015 on Wednesday afternoon. The vote was unanimous.

“The Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise, over the medium term, to its 2 percent objective,” the FOMC said in its statement Wednesday. “Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the…

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