Foreclosure mess scares off homebuyers: Campbell/Inside Mortgage Finance

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 · Reports of foreclosure disputes are sending buyers scurrying from short sales and transactions involving REO properties, on top of cancellations and delays stemming from servicing issues. Along with a reduction in the market share of foreclosure sales, fall-off in demand among investors and buyers.

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The ongoing controversy surrounding foreclosures is taking its toll on the housing market as a significant share of home shoppers refused to even look at distressed properties in October, according to.

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Foreclosure mess scares off homebuyers: Campbell/Inside Mortgage Finance If you read reports from Real Estate Economy Watch and Campbell/Inside Mortgage Finance, it seems first-time homebuyers make up less of the market today. In fact, Campbell/Inside Mortgage Finance said its housingpulse tracking survey shows the share of first-time homebuyer.

What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents. The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.

U.S. Bancorp resolves repurchase obligations with Freddie Mac U.S. Bancorp has announced that it had entered into an agreement with Freddie Mac that resolves substantially all repurchase obligations related to representations and warranties made on loans sold to Freddie Mac between 2000 and 2008. After adjusting for credits related to prior repurchases, U.S. Bancorp will make a one-time $53 million cash payment to Freddie Mac.