Today’s Real Estate News 10-14-2010

14 Oct

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

 The Short Sale Alternative
The Wall Street Journal | October 13, 2010
While the foreclosure market stalls out, an alternative way to buy distressed property is starting to look more desirable-despite shortcomings. <1> Note: Chris Black of Winged Foot Title, LLC, will give a presentation Oct. 15 at ALTA’s Annual Convention on how title agents can increase order counts and profitability by capitalizing on the short sale market.

JPMorgan Chase Drops MERS as Foreclosure Agent, Still Uses System
HousingWire | October 13, 2010
JPMorgan Chase CEO Jamie Dimon assured investors Wednesday the bank no longer allows Mortgage Electronic Registration System (MERS) to foreclose on mortgage notes it owns because some states will not allow it, but the bank still uses the system.

JPMorgan Leads Big Banks in Residential Foreclosure Volume, Survey Finds
HousingWire | October 13, 2010
JPMorgan Chase, Bank of America and Wells Fargo, respectively, hold the most residential one-to-four family homes in foreclosure, according to analytics provider SNL Financial.

Foreclosure Activity up 4% in Third Quarter: RealtyTrac
DSNews | October 13, 2010
A record number of homes in September and the third quarter fell into foreclosure as lenders continue to work through the shadow inventory of distressed properties, according to RealtyTrac, which monitors the filings across the country.

U.S. Mortgage Applications Increase for First Time in Six Weeks
Bloomberg | October 13, 2010
The number of mortgage applications in the U.S. climbed for the first time in six weeks as record- low interest rates led to a surge in refinancing.

New Day for Home Builders
The Wall Street Journal | October 13, 2010
Some home builders that collapsed during the early years of the housing bust are emerging from bankruptcy with less debt, choice land holdings and sharpened business plans, giving them a competitive advantage.

Stance on Fannie, Freddie Haunts Frank
Boston Globe | October 13, 2010
When US Representative Barney Frank spoke in a packed hearing room on Capitol Hill seven years ago, he did not imagine that his words would eventually haunt a reelection bid.

All States to Take Part in Coordinated Foreclosure Investigation
DSNews | October 13, 2010
The highest counsels from all 50 states have teamed up to launch a coordinated investigation of the mortgage servicing industry.

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

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


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