Underwater homes keeping a lid on inventory

Home prices saw the largest spring gain in a quarter century during the three months through May, but the sluggish economy threatens further price recovery, according to a monthly report from economists at real estate and mortgage data aggregator CoreLogic. After reaching a low for the downturn in February, home prices rose 5.6 percent during …

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Fannie Mae’s CEO Lauds ‘New Realism’ of Better Underwriting

Fannie Mae is building the “strongest book of business we’ve seen in the last decade,” the GSE’s president and CEO, Michael Williams, proclaimed to a group of industry professionals this week. While tighter underwriting standards may mean fewer consumers are able to get loans and banks are holding credit close to their chests, Williams says …

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