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Today’s Real Estate News 10-19-2010

19 Oct

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

Banks Restart Foreclosures
The Wall Street Journal | October 19, 2010
Two major lenders at the center of the foreclosure crisis took steps Monday to put the mess behind them by restarting home seizures that were frozen by documentation concerns.

U.S. Homebuilder Confidence Rose to Four-Month High
Bloomberg | October 18, 2010
Confidence among U.S. homebuilders rose in October to the highest level in four months, a sign residential construction is stabilizing at depressed levels.

MERS Mortgage Registry Comes Under Fire in Foreclosure Crisis
Bloomberg | October 19, 2010
Bellistri, who bought the house as an investment after it was seized for non-payment of taxes, failed to notify Mortgage Electronic Registration Systems Inc. of his purchase, the judge said.

Mortgage Buybacks May Cost Lenders $120 Billion, JPMorgan Says
BusinessWeek | October 18, 2010
Forced repurchases of soured U.S. mortgages may be the “biggest issue facing banks” even as errors in the foreclosure process draw attention to other industry risks, according to JPMorgan Chase & Co. analysts.

NY Fed Study Shows Limited Lending to Small Businesses
HousingWire | October 18, 2010
Small businesses are telling Fed officials that they don’t have access to credit. Data from a recent study by the Federal Reserve Bank of New York showed more than two-thirds of small businesses experienced declines in sales and revenue during the first half of the year, implying a broad weakening of finances in the industry. But only half of loan applicants were approved.

Foreclosure Freeze Leads to Uneasy Politics for Democrats
The Washington Post | October 18, 2010
The details of the foreclosure mess are ugly and complicated. The politics of it are even worse.

Homebuyer Tax Credit Casts Shadow on Mortgage Market Until Next Year
HousingWire | October 18, 2010
The pull forward in housing demand created by the homebuyer tax credit will likely take the rest of 2010 to wear off completely.

A Little Bit of Sanity, Please
HousingWire | October 18, 2010
Where to start? You might think the mortgage and banking world is ending, if you manage to read some of the financial blogs and news sources out there as of late. The world of financial writing and reporting has seemingly and collectively degraded itself into one, long version of CNBC’s Fast Money – where everyone is competing to see who can scream the loudest about the most useless information, until everyone forgets what they started talking about in the first place.

Foreclosed Homeowners Break Into Former Home
CNBC | October 18, 2010
There’s been a lot of funny business in the mortgage industry. It’s getting less funny by the minute.

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
acarollo@stewart.com

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