Daily News 10/20/14
October 20, 2014
Monday – October 20
Federal Housing Finance Agency’s Director Mel Watt will be speaking this week at the Mortgage Bankers Association’s conference in Las Vegas and could announce loosening of GSE credit standards. Rumors are swirling that Mr. Watt could lay out a plan to make credit more available to potential home buyers, many of whom have been cut off from securing a mortgage due to the tighter credit standards enacted after the housing crisis took place in late 2007.
A recent study done by non-profit Transamerica for Retirement Studies found that many companies across the nation say they have been hiring in the past year. The study went on to show that 74% of those polled say they have increased salaries versus 12% that have frozen salaries. Of the companies polled, 79% are offering 401(k) plans or similar plans up from 72% in 2007.
RealtyTrac reported last week that foreclosure filings, including default notices, scheduled auctions and bank repossessions increased in the third quarter of this year, which was the first quarterly increase since the third quarter of 2011. The minor increase was just 0.42% from the second quarter, but are down 16% from a year ago. In addition, foreclosure filings were down 9% from August and down 19% from a year ago. September was also the 48th consecutive month where foreclosure activity declined on a year-over-year basis.