Today’s Real Estate News 9-27-2010

27 Sep

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

API just published a great article on aquiring distressed properties through a 1031 tax deferred exchange. 

Foreclosure Starts Hit Highest Level Since January: LPS
DSNews | September 27, 2010
The August Mortgage Monitor report released Friday by Lender Processing Services, Inc. shows that foreclosure starts are continuing to accelerate, with the GSEs displaying more aggressive timelines on early stage delinquencies.

RPR Live for Two MLSs
Inman News | September 24, 2010
The National Association of Realtors has flipped the switch for the first two multiple listing services to go live on its Realtors Property Resource property database, and is planning to add about 15 MLSs a week by November.

Lawmakers to Fannie Mae: Why Are You Using Lawyers ‘Accused of Regularly Engaging in Fraud’ in Foreclosures?
The Washington Post | September 29, 2010
Members of Congress called on Fannie Mae to stop working with “foreclosure mills” under investigation for document fraud.

National Credit Union Seizes 3 Credit Unions: will Bundle $50 Billion Securitization
HousingWire | September 27, 2010
The National Credit Union Administration seized three corporate credit unions Friday that had total assets of about $15 billion, and officials will bundle about $50 billion of troubled assets into securities.

Fed Model for Treasuries Shows Diminishing Returns
Bloomberg | September 27, 2010
This year’s rally in Treasuries has pushed yields so low that a Federal Reserve measure of risk shows U.S. government securities are too expensive.

Lenders Have Failed to Repurchase $11B in Bad Loans from GSEs
DSNews | September 27, 2010
Banks that sold bad mortgages to Fannie Mae and Freddie Mac have a contractual obligation to buy the loans back, according to their regulator. But many of the nation’s largest institutions aren’t living up to their end of that commitment.

From the National Association of Realtors®:

National Flood Insurance Extended Through 2011
Both the House and Senate approved a one-year extension of the National Flood Insurance Program, giving Congress another year to debate more substantial changes.

Banks to Review Rejected Loans
“Second look programs” have been established by banks to uncover new information about consumers that may help them get approved for a loan.

Mortgage Apps May Ask for More Personal Info
The Federal Reserve held hearings on expanding loan application data to ask for more personal information.

Anthony Carollo 2007 EMAIL  

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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

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