Today’s news that may be of interest to you:
Sens. Begich, Brown Introduce Bill to Reform Federal Housing Admin.
InsuranceNewsNet | August 4, 2010
U.S. Sens. Mark Begich (D-AK) and Sherrod Brown (D-OH) today introduced legislation to protect taxpayers by ensuring sound lending practices by the Federal Housing Administration (FHA). The bill is companion legislation to the FHA Reform Act which overwhelmingly passed the U.S. House of Representatives in June 2010.
For Fannie Stock, Even Betting Pennies Is a Risk
The New York Times | August 4, 2010
It is flotsam of the housing wreck, a stock no longer worthy of the Big Board. But penny by penny, the mortgage giant Fannie Mae is being salvaged in the stock market.
HUD Gave ‘Troubled’ Housing Agencies Stimulus Funds
The Wall Street Journal | August 5, 2010
The Senate just agreed to take a final vote on a bill to extend stimulus aid to states. You can count on it becoming another data point as Republicans continue hammering away on stimulus spending this summer.
Aid Package Aimed at Saving State Jobs Passes Key Hurdle in Senate
The Washington Post | August 5, 2010
An emergency plan to save the jobs of tens of thousands of public school teachers and other government workers overcame a key Senate hurdle Wednesday, and House Speaker Nancy Pelosi said she would summon lawmakers back from their August break to finish work on the measure.
FHA’s Capital Reserves Fall as Agency Prepares for Higher Claims
DS News | August 5, 2010
The Federal Housing Administration (FHA) has just $3.5 billion in its ‘capital reserve account,’ according to the agency’s quarterly report submitted to Congress this week.
U.S. Economy: Service Companies Grew at Faster Pace
Bloomberg | August 5, 2010
Service industries expanded in July at a faster pace than forecast, reflecting an increase in employment that eases the risk U.S. economic growth will slacken in the second half of the year.
Fannie Mae Sells $2 Bln Bills at Lower Rates
Reuters | August 5, 2010
Fannie Mae (FNMA.OB), the largest U.S. home funding source, on Wednesday said it sold $2 billion of benchmark bills at lower interest rates compared with last week’s sale of similar maturities.
CREDIT MARKETS: No End In Sight For High-Grade-Debt Surge
The Wall Street Journal | August 4, 2010
Nearly $2.5 billion in new high-grade supply was brought to market Wednesday, furthering a solid issuance pipeline that began last week and continued in earnest Monday and Tuesday. Meanwhile, Fannie Mae sold $7 billion of its $3 billion bond, and Vornado is in the market with a $660 million commercial mortgage-backed security.
From the National Association of Realtors®:
Practitioners Can Add Listings on LinkedIn
Real estate tech company Rofo has a new app for residential and commercial professionals.
Home Purchase Applications Rise
Mortgage activity increased 1.5 percent last week and was up more than 7 percent compared to a month ago, according to the Mortgage Bankers Association.
10 Steps to Win Over Sellers
Here are tips for helping eager buyers to get the house they want.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
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