Fannie Mae and Freddie Mac have resumed sales of foreclosed properties that were placed on hold in late September due to questions about improper affidavits used in the foreclosure process.
A subsidiary of homebuilder Lennar Corp. completed its first closing of a real estate fund to invest in distressed real estate assets.
Walter Investment Management Corp., Tampa, said it has signed deals to pay $90 million for several pools of mostly performing first liens from undisclosed sellers.
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Lender Processing Services reports that by the end of October 2010 the total U.S. foreclosure inventory rate reached 3.92%, marking an all time high in the size of the inventory — which now equals 7.4 times the historical averages and continues to rise.
National house prices will continue to decline through the first half of 2011, but local markets will experience varying degrees of decreases, according to Moody’s Analytics.
The Department of Housing and Urban Development cut corners when it attempted to upgrade a number of internal computer systems and hastily awarded a $17 million contract add-on to an IT services procurement originally valued at $800 million, according to the findings of a HUD Office of Inspector General audit.
