REO inventories for Fannie Mae fell by 43,961 units in 2011, as it disposed of more distressed units than it acquired, according to data it released yesterday. The GSE sold 243,657 units in 2011, while overtaking just 199,696; those

Midwest Real Estate Data (MRED), the Chicagoland Multiple Listing Service (MLS), announced it has introduced additional green design, disclosure and data verification to its connectMLS system. The “green” expansion is to further enhance the ability of MRED’s real estate

Construction spending posted a strong 7.1 percent year-over-year increase for the month of January, and though spending was mainly flat from December, it did show an uptick in residential

Homes in some state of foreclosure accounted for 24 percent of all U.S. residential sales during the fourth quarter of 2011, up from 20 percent in quarter three but down from 26 percent in 2010’s fourth quarter, according to the latest

In early February, news leaked that Bank of America was so overwhelmed by homeowners applying for the Home Affordable Refinance Program (HARP) that it was literally asking borrowers to wait 60 to 90 days before starting their applications; if

Two government mortgage bodies, Fannie Mae and the Federal Housing Administration (FHA), are revisiting their policies regarding condominiums, though their approaches could have contradictory effects on the condo

Christine Chase has been recognized as the 2012 Realtor of the year by the organization, Realtors (MORe). The recipient of the award is selected using a list of criteria that includes local, sate and national Realtor association service, community

The Conference Board, the non-profit research group that is responsible for some of the world’s most closely-watched economic indexes, announced yesterday that consumer confidence rose 9.3 points in February in what is perhaps the strongest indication yet that the economy

The Department of Housing and Urban Development (HUD) slapped Bank of America (BofA) on Monday with a housing discrimination suit claiming that the bank unfairly treated homebuyers with disabilities. According to a press release released by HUD, BofA violated

Trulia has just announced a partnership with Midwest Real Estate Data (MRED) to directly syndicate more than 100,000 MRED listings in Chicago, northern Illinois, southern Wisconsin and northwest Indiana through its site. MRED is the largest MLS in the country based on listing

The Federal Housing Administration (FHA) has officially announced that, in an effort to boost its Mutual Mortgage Insurance Fund (MMI), it will raise its insurance premiums in April. Confirming statements made last week by the agency’s Acting Director Carol

Michael Jordan listed his longtime residence in Highland Park earlier today, putting the nine-bedroom, 15-bath, five-fireplace property on the market for $29 million. A secluded compound with three levels and more than 56,000 square feet of livable space, the

The principal modification just earned a new player in the form of Earl Blumenauer, a Democratic congressman from Oregon who is backing a bill that would allow bankruptcy judges to force write downs on loans during bankruptcy proceedings. The

The Federal Housing Finance Agency (FHFA) yesterday announced the pilot transaction for its new REO Initiative, a program that targets some of the hardest-hit metropolitan areas with the intention of converting vacant and distressed properties into rental units. Now, pre-qualified

Standard & Poor’s Case-Shiller Home Price Index for the 20-City Composite fell 1.1 percent from November to December, capping off a 3.8 percent decline in the fourth quarter of 2011 and 4.0 percent year-over-year decline that pushed the rate

Bank of America’s long-running relationship with Fannie Mae ended late last week, when the bank announced that it would no longer sell new mortgages to the GSE. According to a New York Times overview of the split, tensions were running