Real Estate News And Views

Realestatelicense.com has created this blog to keep you informed on recent real estate news, views, and topics. Real estate is a very dynamic field. Everyday there's something new and exciting happening in the world of real estate. Use this blog to stay on top of current real estate events, news, and views and support your real estate license and career. As a licensed real estate professional, you need to know this information.

First Servicer Performance Report Encouraging to Those Ready to Obtain a Real Estate License

Have you always wanted to get your real estate license? Now may be a good time. The real estate market continues to experience an increase in activity, and with the recent release of the first monthly Servicer Performance Report, the future of the real estate industry is looking brighter.

As an initiative of the current administration, the Servicer Performance Report is a monthly progress review the Making Home Affordable (MHA) loan modification program. The report also includes a plan of action that promotes the continued stabilization of our housing market.

MHA loan modification initiatives include:

- Additional protection for borrowers. The administration has asked program compliance agent Freddie Mac to create a "second look" process to review MHA modification applications that have been repeatedly declined.

- CEOs of participating servicers were asked to redouble their efforts to increase staffing, improve borrower response times and streamline the application process.

- Stricter real estate laws aimed at alleviating past mistakes, standards for smarter real estate transactions and greater accountability in the real estate profession.

In just a few short months, the MHA has made rapid progress. For example, servicers covering more than 85 percent of loans are making modifications under the program. To date, over 400,000 modification offers have been extended and more than 230,000 trial modifications are underway. At this pace, the program is on track to offer assistance to some 3 to 4 million homeowners over the next three years.

And here's more good news - pending listings are up for the fifth consecutive month and many first-time buyers who qualify for the $8,000 tax credit are taking advantage of the opportunity to own a home. The continued upswing in the real estate market is a positive indication that recovery is underway.

Curious about what training is needed to sell real estate? Start your research online and consider an accredited online real estate school. In a matter of months, your dedication could contribute to greater stabilization in your local real estate market.