FICO has launched myFICO en Español, the first Spanish-language website where consumers can obtain their personal credit report, credit report analysis, FICO Score and FICO Score analysis in Spanish.
The new site enables users to toggle between Spanish and English, a format that is preferred by many bilingual speakers. More than 600 pages of Spanish-language consumer financial educational materials are available to visitors.
To access the site, visit http://espanol.myfico.com.
More info
Calif. median home price: December 2011: $285,920 (Source: C.A.R.)
Calif. highest median home price by region/county December 2011: Marin: $693,880 (Source: C.A.R.)
Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: December 2011: 91.6, an increase from the revised 82.5 recorded in December 2010
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 1/19/2012 30-yr. fixed: 3.88% fees/points: 0.8% 15-yr. fixed: 3.17 fees/points: 0.8% 1-yr. adjustable: 2.74% Fees/points: 0.6% (Source: Freddie Mac)
A study by the Government Accountability Office (GAO) found that the Appraisal Subcommittee, which oversees the appraiser regulatory programs established by the states, needs to improve its monitoring procedures.
“These findings underscore the need to establish an effective oversight system to ensure that appraisals accurately reflect true market values and don’t harm aspiring home buyers or builders,” said NAHB Chairman Bob Nielsen.
A recent NAHB survey shows that one out three builders have lost signed sales contracts because of flawed appraisals, and a fall survey conducted by NAR shows that 18 percent of REALTORS® reported a recent contract cancellation or delay as a result of a low appraisal.
Numerous flaws in the appraisal system are causing inaccurate home valuations, both in times of housing weakness and strength. Industry groups been actively seeking improvements in appraiser education and training, particularly for appraisals of new homes, as well as more rigorous oversight so appraisal guidelines are enforced and errors can be corrected as they occur.
The GAO report found the Appraisal Subcommittee’s “enforcement tools and procedures for reporting compliance levels have been limited.” The GAO cited “several weaknesses” that have potentially limited the subcommittee’s ability to monitor state appraiser regulatory agencies, the federal financial institution regulators and the Appraisal Foundation, a private, non-profit corporation that sets criteria for appraisals and appraisers.
More info
FICO has launched myFICO en Español, the first Spanish-language website where consumers can obtain their personal credit report, credit report analysis, FICO Score and FICO Score analysis in Spanish.
The new site enables users to toggle between Spanish and English, a format that is preferred by many bilingual speakers. More than 600 pages of Spanish-language consumer financial educational materials are available to visitors.
To access the site, visit http://espanol.myfico.com.
More info
C.A.R. Pending Home Sales Index dropped as expected between November and December, tracking the annual seasonal slowdown. However, the index was higher than a year ago for the eighth straight month, a trend that bodes well for the start of the spring home-buying season.
C.A.R.’s Pending Home Sales Index (PHSI) fell [...]
