Today’s Real Estate News 9-29-2010

29 Sep

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

Anthony’s note: There are three articles in here today on the subject of “faulty foreclosures” which could become a huge deal for the the title insurance industry since foreclosures are generally insured.

New Bill Calls for Refinancing of 30 Million GSE Mortgages
DSNews | September 28, 2010
Legislation to stabilize the foreclosure crisis through the federal government’s conservatorship of Fannie Mae and Freddie Mac was introduced in the U.S. House of Representatives Tuesday by Congressman Dennis Cardoza (D-California).

HUD Highlights System Changes Regarding Third-party Origination
Housing Wire | September 29, 2010
The Department of Housing and Urban Development today hosted a webinar to guide lenders through changes in data requirements associated with originating a loan backed by the Federal Housing Administration through a sponsored originator.

Ohio, Colorado AGs Start Reviews of GMAC Foreclosures
Housing Wire | September 29, 2010
The Ohio Attorney General Richard Cordray and Colorado AG John Suthers joined five other states in a review of the GMAC Mortgage, now Ally Financial, foreclosure issue.

Will Massachusetts Become the Latest State to Take on Faulty Foreclosures?
The Boston Globe | September 28, 2010
Attorney General Martha Coakley may become the latest to jump into the burgeoning controversy over allegations of assembly-line style foreclosures at major mortgage industry loan servicers.

Case Shiller Index Posts 0.6% Increase in July, but Gains Are Slowing
DSNews| September 28, 2010
Home prices rose again in July, according to one of the industry’s most closely watched gauges of property value trends.

More Fed Easing Not Yet a Done Deal, Lockhart Says
Reuters | September 29, 2010
A top Federal Reserve official said on Tuesday that he has yet to make up his mind whether further ease monetary policy is needed, despite a weakening U.S. economy and some risk of deflation.

Case Says Housing Will Grow Slowly After Free-Fall: Tom Keene
Bloomberg | September 29, 2010
The U.S. housing market has reached its lows and will expand slowly as the economic recovery remains subdued, said the S&P/Case-Shiller index co-creator Karl Case.

From the National Association of Realtors®:

Fannie Mae Offers a Break to Service People
Injured members of the military can reduce or suspend their mortgage payments for up to six months through a new program with Fannie Mae.

Mortgage Study Critical of 30-Year Fixed Loans
An investigation from San Diego State University says the housing collapse was due in part to poor underwriting.

Bank of America Urges Funding for Investors
Analysts from B of A recommend that monetary aid should be directed toward property managers instead of home owners.

Foreclosure Gaffs May Further Roil the Market
Real estate experts warn that inaccuracies in foreclosure documents could result in more legal woes and further postpone a recovery. 

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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