Portland Oregon Property Appraisers

The Obama administration’s October Housing Scorecard showed mixed results, according to a joint report released Nov. 3 by the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development. Although new home sale rose in September, they remained down compared to a year ago. Mortgage defaults and foreclosure sales continued a downward pattern despite more homeowners being able to participate in mortgage modification and relief programs.
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The multifamily market is expected to see significant growth as financially stressed homeowners are forced into the rental market, David Brickman, senior vice president of Freddie Mac’s multifamily division, reported Oct. 31 in his Executive Perspectives blog.
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Commercial and multifamily mortgage loan originations in the third quarter were up 10 percent compared to the previous quarter and 98 percent compared to the same period a year ago, the Mortgage Bankers Association reported Nov. 3.
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Delinquencies on commercial mortgage-backed securities crept up in October, according to data from Trepp LLC, National Mortgage News reported Nov. 2.
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A federal judge dismissed claims against Lender Processing Services for alleged appraisal negligence, HousingWire reported Nov. 3. The claims were filed by the Federal Deposit Insurance Corp., citing LPS’ alleged mishandling of appraisals completed for Washington Mutual Bank. The FDIC, which filed its complaint against both LPS and CoreLogic in May, had hoped to recover $ 283 million in total losses related to WaMu mortgages — $ 154 million in damages from LPS alone.
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A state court judge ruled that Illinois can proceed with a lawsuit against Wells Fargo for allegedly steering minority borrowers into risky mortgages, The Wall Street Journal reported Nov. 3.
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Thanks to tight lending standards, more banks held on to their deposits and therefore required fewer advances from the Federal Home Loan Bank System during the third quarter, the group reported Oct. 28.
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The Financial Stability Board, the enforcement agency for financial stability of the Group of 20 industrial and developing nations, announced Nov. 4 its list of world banks that will be forced to hold more capital because of their importance to the global financial system, The Wall Street Journal reported. The list of globally systemically important financial institutions includes 17 European banks, eight U.S. banks, three Japanese banks and one Chinese bank. The 29 banks have until the end of 2013 to detail how their businesses would be unwound if they collapsed.
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Losses continue to mount at Freddie Mac and Fannie Mae. Freddie reported a $ 6 billion loss during the third quarter while Fannie reported a $ 7.6 billion loss, The Associated Press reported Nov. 8.
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The Financial Crimes Enforcement Network released a proposal Nov. 3 to streamline reporting of money laundering and suspicious activity for government-sponsored enterprises Fannie Mae and Freddie Mac, and the Federal Home Loan Banks.
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