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Today’s Real Estate News 11-18-2010

18 Nov

 
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Today’s news that may be of interest to you:For you readers in Washington, we have some good news this morning!
Gov. Gregoire suspends state rule making process
Gov. Chris Gregoire today signed an executive order suspending and limiting the state rule making process to help small businesses and local governments as the state continues its economic recovery.

5 Must-knows About Title Insurance
The Boston Globe | November 18,2010
Surely, many a first-time homebuyer who has waded through the closing process has come across the line-item charge for something called “title insurance” and has been simultaneously puzzled at just what it is he’s buying and annoyed by its several-hundred-dollars cost.
 

Management Tip of the Day: Reduce organizational clutter
Reuters | November 18, 2010
The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org.

 

CoreLogic: Mortgage Fraud Up 20% from 2009
HousingWire | November 18, 2010
When CoreLogic analyzed 7 million loan files in its database, it found the rate of mortgage fraud increased by more than 20% from early 2009 with specific processes and products being targeted.
 

MERS to Testify it Forecloses Only by Mortgage Servicer Request
HousingWire | November 18, 2010
In written testimony for the House Financial Services Committee, R.K. Arnold, CEO of MERS Corp, will state that the electronic mortgage registry system only begins a foreclosure when instructed by the mortgage servicer and receives no financial compensation when it does so.

Mortgage Rates Rise, Applications Fall to Four Month Low
The Wall Street Journal | November 18, 2010
Mortgage applications plunged last week to a four-month low after mortgage rates jumped to 4.46% for an average 30-year fixed-rate mortgage, up from 4.28% in the previous week, the Mortgage Bankers Association reported on Wednesday.

Fishing for Housing Bargains
The Wall Street Journal | November 18, 2010
This could be a good time to buy a house. Here are 5 low-risk markets.
From the National Association of Realtors®:

Tips for Getting Vacant Homes Ready for Winter
Insulation or electric heating tape can prevent pipes from freezing in empty houses. Here are additional tips.

Big Banks Fixing Foreclosure Processes
A Treasury official notes that 11 federal agencies contend that the foreclosure document problems don’t represent a threat to U.S. financial stability.

Mortgage Activity Logs Biggest Drop of the Year
Higher interest rates drove down refinancings 17 percent last week, while overall mortgage demand dropped 14 percent, according to the Mortgage Bankers Association.

FHA Cushion Still Low
Though the Federal Housing Administration’s cash reserves are still short, officials say they won’t be seeking a taxpayer bailout.

Housing Starts Fall in October
The annual rate of housing starts dropped 12 percent to 519,000, according to the Commerce Department.
 

 

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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

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

www.StewartSpokane.com

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