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Mortgage interest rates may be at historically low levels, but the housing industry is not helping the overall economic recovery in the U.S. With the secondary market all but dried up except for Freddie and Fannie, who together purchased over three-quarters of originations in 2011, getting a mortgage these days is near impossible-perfect borrowers need only apply.
As the housing industry continues to make a recovery from the most recent recession, the theme of this year's show in Dallas was "shifting gears to build for the future." Some popular topics that were talked about among session panelists and attendees were short sales, strategic defaults strategies and the REO-to-rental initiative.
A pair of real estate investment firms agreed to invest $22.5 million of equity to acquire and recapitalize PJ Finance Company, which filed for Chapter 11 bankruptcy protection in March 2011.
