Perhaps you've known someone who raised money for a documentary or civic project by making an appeal through crowd funding on the Internet. Now, the concept of pooled resources is being used as an investment vehicle offering equities in home ownership to investors and loan assistance to selected prospective homeowners.
PNC Financial Services Group and Freddie Mac announced that they reached an agreement in principle to resolve substantially all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008. This agreement successfully resolves a large portion of PNC's outstanding obligations.
While rising home prices have lifted many underwater homeowners to positions of positive equity, the real estate information and analytics provider DataQuick warns tight credit will still preclude many traditional buyers from the market. Instead, investors will continue to carry an outsized portion of the purchase market for the foreseeable future, according to DataQuick.