Search
Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Filter by Custom Post Type
{ "homeurl": "http://rismedia.com/", "resultstype": "vertical", "resultsposition": "hover", "itemscount": 4, "imagewidth": 70, "imageheight": 70, "resultitemheight": "auto", "showauthor": 0, "showdate": 0, "showdescription": 1, "charcount": 3, "noresultstext": "No results!", "didyoumeantext": "Did you mean:", "defaultImage": "http://rismedia.com/wp-content/plugins/ajax-search-pro/img/default.jpg", "highlight": 0, "highlightwholewords": 1, "openToBlank": 0, "scrollToResults": 0, "resultareaclickable": 1, "autocomplete": { "enabled": 1, "googleOnly": 1, "lang": "en", "mobile": 1 }, "triggerontype": 1, "triggeronclick": 1, "triggeronreturn": 1, "triggerOnFacetChange": 1, "trigger": { "delay": 300, "autocomplete_delay": 310 }, "overridewpdefault": 0, "override_method": "post", "redirectonclick": 0, "redirectClickTo": "results_page", "redirect_on_enter": 0, "redirectEnterTo": "results_page", "redirect_url": "?s={phrase}", "settingsimagepos": "left", "settingsVisible": 0, "hresulthidedesc": "0", "prescontainerheight": "400px", "pshowsubtitle": "0", "pshowdesc": "1", "closeOnDocClick": 1, "iifNoImage": "description", "iiRows": 2, "iiGutter": 5, "iitemsWidth": 200, "iitemsHeight": 200, "iishowOverlay": 1, "iiblurOverlay": 1, "iihideContent": 1, "loaderLocation": "auto", "analytics": 0, "analyticsString": "", "show_more": { "url": "?s={phrase}", "action": "ajax" }, "mobile": { "trigger_on_type": 1, "trigger_on_click": 1, "hide_keyboard": 0 }, "compact": { "enabled": 1, "width": "200px", "closeOnMagnifier": 1, "closeOnDocument": 0, "position": "fixed", "overlay": 0 }, "animations": { "pc": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "fadeInDown" }, "mob": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "voidanim" } }, "autop": { "state": "disabled", "phrase": "", "count": 10 } }
Select Page

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the February edition of the Obama Administration’s Housing Scorecard—a comprehensive report on the nation’s housing market. Data continues to show signs that the housing market is strengthening, although the recovery remains fragile. The supply of new and existing homes on the market continued to decline last month. However, home prices dipped again as seasonal lows continued for the fourth month in a row. The continued fragility of the housing market underscores the need for recently-announced expansions of assistance to help prevent foreclosures and strengthen hard hit communities. The full Housing Scorecard is available online at www.hud.gov/scorecard.

“Since April 2009, more than 13 million homeowners have taken advantage of our refinance programs. Following enhancements to the Home Affordable Refinance Program, another 300,000 families have already started the process of refinancing and stand to save on average $2,500 per year—the equivalent of a good-sized tax cut. So the Administration’s efforts have produced significant positive benefits,” says HUD Assistant Secretary Raphael Bostic. “But 1 in 5 Americans still owes more than their home is worth. This lasting scar of the Great Recession driven by housing’s collapse is a clear sign that we are not yet out of the woods. That is why we are asking the Congress to approve the President’s housing proposals so that more homeowners can receive assistance.”

Included in this month’s Making Home Affordable Program Report are detailed assessments for the largest mortgage servicers participating in the program with results from the fourth quarter of 2011. The Servicer Assessments—first introduced in June 2011 and published quarterly—have set a benchmark for disclosure around servicer efforts to assist struggling homeowners.

“The Making Home Affordable Program has established critical standards that have changed the mortgage industry for the better, and the assessments have been a principal tool for measuring that progress,” says Treasury Assistant Secretary for Financial Stability Tim Massad. “By shining the spotlight on key practices, we have prompted servicers to improve their implementation of the Making Home Affordable Program. However, there is still more work to be done to ensure that the industry treats all borrowers properly. The implementation of the broader standards required by the settlement, together with our continued compliance efforts, will help bring this about.”

The standards established by the Making Home Affordable Program were also a guide for many of the servicing standards included in the historic $25 billion settlement recently announced between the federal government, 49 state Attorneys General and the five largest mortgage servicers regarding mortgage servicing and foreclosure deficiencies.

Since inception of the Making Home Affordable Program, Treasury has required participating servicers to take specific actions to improve their processes through ongoing program reviews. The latest Servicer Assessments summarize performance on metrics in three categories of program implementation: identifying and contacting homeowners; homeowner evaluation and assistance; and program reporting, management and governance. Results for the fourth quarter of 2011 show that servicers are focusing attention on areas identified in previous program reviews and, as a result, are demonstrating considerable improvement in program implementation:

• Mortgage servicers show continued improvement in calculating homeowner income, which is used to determine a homeowner’s eligibility and modified payment amount under the program.

• Servicers are more effectively evaluating homeowners under program eligibility criteria as performance in the “second look disagree” category, which reflects the rate at which Treasury’s program reviews disagree with the servicers’ decision not to assist a homeowner, remains consistently below the established benchmark.

As the Administration continues to push servicers to provide more effective assistance to struggling homeowners, the ongoing recovery of the housing market demonstrates the need for the Administration’s efforts. The February Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:

Market data show progress on housing overhang and sales but continued fragility in home prices. The supply of homes on the market continued to decline last month. At the current rate, it would take 6.1 months to turn over the supply of existing homes currently on the market – and just 5.6 months to turn over the stock of new homes for sale – the lowest inventory of homes for sale since 2006. Existing home sales continued to improve this month, reaching their highest pace since May 2010. However, home prices dipped again in December, as measured by the Case-Shiller index, as seasonal lows continued for the fourth month.

The Administration’s foreclosure programs are providing relief for millions of homeowners as we continue to recover from an unprecedented housing crisis. More than 5.7 million modification arrangements were started between April 2009 and the end of January 2012 – including nearly 1.8 million trial modification starts through the Home Affordable Modification Program (HAMP) and more than 1.2 million FHA loss mitigation and early delinquency interventions. The Administration’s programs continue to encourage improved standards and processes in the industry, with HOPE Now lenders offering families and individuals more than 2.7 million proprietary mortgage modifications through January.

Homeowners entering HAMP demonstrate a high likelihood of long-term success in the program. As of January, more than 950,000 homeowners received a permanent HAMP modification, saving more than $530 on their mortgage payments each month. Eighty-five percent of homeowners entering the program in the last 19 months have received a permanent modification, with an average trial period of 3.5 months. Homeowners in HAMP permanent modifications have saved an estimated $11 billion to date. View the January Making Home Affordable Program Performance Report.

For more information, visit www.treasury.gov.


Buying/Selling Consumer Luxury National Spotlights
Red and white "Sale Pending, Home for Sale" sign in front of a red brick house that is for sale and has recently been sold. Green grass and bushes indicate the spring or summer season. Front porch and windows in background. Real estate sign in residential neighborhood.  Moving house, relocation concepts.
Pending Home Sales Creep Higher in June

Pending home sales were mostly unmoved in June, but did creep...

woman with manicured hand ready to  tap an her tablet. Buying pink high heel slingback online with a mini tablet. The website is fictional, shoes photographed by Peter Hermus
New Members-Only Online Mall Offers Cool Gadgets, Trending Technology and Luxury Gifts

Most members of the National Association of REALTORS® (NAR) already know...

the mississippi river flows southward over st. anthony falls, and by the minneapolis skyline, on its way to the gulf of mexico.
Strongest Housing Gains Seen Down South

Two more states, Mississippi and Maryland, as well as eight metro...

Agent Broker Coaching Lead Gen Teams
Key to success
3 Keys to Success in 2016

Two years ago, we completed a comprehensive planning session at Real...

Marketing Diagram on Futuristic Interface Touch Screen
When Marketing Is Top Priority

To really be seen in the real estate industry, it all...

Couple sitting in their electric car
Save on Your Summer Road Trip

NAR PULSE—Right now, until August 31, you can save $25 on...

Agent Best Practices Branding Broker Niche
La Habra, United States - July 12, 2016: Macro closeup image of pokemon go game app icon among other icons on an iphone smartphone device. Pokemon Go is a popular virtual reality game for mobile devices.
Pokémon GO for Real Estate – Must or Bust?

If you’re anything like me, your social media newsfeeds look a...

Man inputing data on laptop and holding mobile phone in another hand.
Boost Your Online Presence with More .REALTOR Options

Website addresses that end in .REALTOR provide instant recognition as a...

Person. More>>
4 Ways to Update Your Digital Persona

Your digital presence is more important than ever, and now is...

Agent Apps/Gadgets Best Practices Broker Innovation
Silhouette of business people moving and joining pieces of jigsaw puzzle on a business and stock market  blue background, with charts, diagrams, world maps and data arranged on grid and tables. World maps showing continents and countries with economy data and growth diagrams. Light glowing from the center. Copy space on bottom.
PNC Offers Online Business Insights, Webinars and Tools for Agents

Looking for the latest real estate industry information, education and networking...

Woman holding tablet
Stay Connected to Your Business When You’re on the Go

As a busy real estate professional, you’re likely most productive when...

snapchat_real_estate_665x350
Why Snapchat Is Pure Gold for REALTORS®

There is a huge amount of attention being paid to Snapchat...

Business Insights Content Generation Marketing Trends
000027558128_Double
Webinar Recap: Build Your Brand with Next-Gen Social Media

If you’re working in the real estate industry, you already know...

000042086008_Double.jpg
Expanding Your Client Base through Social Media

Today’s buyer will search online at some point during the buying...

Facebook_Live_665x350
Facebook Live the Latest Trend to Infiltrate the Open House Scene

Drumming up interest in an open house may be about as...

Buying/Selling For Your Clients Home Improvement How-To Lifestyle
comback_kitchen
Comeback Kitchen: 3 Old-Is-New Trends

Kitchen design’s trending more behind the times than ahead of the...

468752934
5 Kitchen Island Styles to Fit Any Use

Regardless of the size of your kitchen remodel, adding an island to...

Wall_Panel_450x300
Luxury Wall Panels Take Home Décor to a Whole New Level

Looking to revamp your living space? Before you head out to...

manhattan
RISMedia’s CEO Exchange

RISMedia’s 2016 Real Estate CEO Exchange September 13 & 14, 2016...

Capital Building, Washington
RISMedia’s Power Broker Forum at the NAR REALTORS® Legislative Meetings & Trade Expo

RISMedia’s Power Broker Forum at the REALTORS® Legislative Meetings & Trade Expo...

PB-annual
RISMedia’s Power Broker Forum, Reception & Dinner – Annual

RISMedia Power Broker Events 2016 Orlando, Fla. Friday, November 4, 2016...