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08 Apr

Today’s news that may be of interest to you:

Administration Will Fight Efforts to Water Down Dodd Bill
The Hill | April 7, 2010
Senior Obama administration officials said Wednesday that President Barack Obama will vigorously fight efforts to weaken the current Senate bill reforming the financial regulatory system.

The Wall Street Reform Fight We Really Need
BusinessWeek | April 7, 2010
The coming Senate battle over the Dodd bill will distract attention from a simple, powerful change that could actually buffer banks against the next financial crisis.

Homebuyers Scramble as Mortgage Rates Jump
The Washington Post | April 7, 2010
The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market – a threat to the fragile recovery in the housing market.

Fed in Same Boat as Banks on Soured Real Estate Assets
DSNews | April 7, 2010
The Federal Reserve has gotten a first-hand look at the kind of havoc residential and commercial real estate loans can wreak on a balance sheet in today’s market.

US Subprime Delinquencies Drop 1st Time in 4 Years
Reuters | April 7, 2010
Late payments on U.S. subprime mortgages fell in March for the first time in four years while defaults on prime home loans kept escalating to top 10 percent for jumbo loans, Fitch Ratings said on Wednesday.

Fed Reviews Find Errors in Oversight of Citigroup
The New York Times | April 7, 2010
Citigroup ran into trouble under the noses of federal regulators. But even after taxpayers rescued the financial giant, regulators failed to monitor the company adequately, according to reviews by the Federal Reserve.

Greenspan Defends Decisions Before Panel Investigating Crisis
The Washington Post | April 8, 2010
Former Federal Reserve chairman Alan Greenspan on Wednesday defended his stewardship of the U.S. economy in the run-up to the financial crisis, rebuffing accusations that regulatory and other failures by the Fed under his leadership were a major cause of the near-collapse of the financial system.

US Financial Reform Bill ‘Picking Up Momentum’
Financial Times | April 7, 2010
The prospects for passage of sweeping financial reform legislation have improved recently as negotiations over the bill enter the final stretch, senior officials in the Obama administration said on Wednesday.

From the National Association of Realtors®:

This link is to the Realtor.com site showing the top 10 cities nationwide with year over year search increases.

This link is to the Realtor.com site showing the top 10 most expensive home listings in the US right now.

Survey: Americans Prefer Owning Over Renting
Nearly two-thirds of Americans would still prefer to own a home instead of renting, according to a Fannie Mae national housing survey.

10 Big Commercial Real Estate Busts
Stuvesant Town apartments in New York tops the list of commercial projects facing enormous losses.

Practitioners Indicted in $10 Million Scam
Two New York real estate practitioners were among those charged in a scheme to obtain home mortgages fraudulently.

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Anthony Carollo 2007 EMAIL 

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

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