Today’s news that may be of interest to you:
For Sale: Used Army Barracks, Island. Cheap.
The Wall Street Journal | November 21, 2010
Think selling a house in this market is tough? Try unloading a lighthouse. Saddled with buildings, properties and land it can’t use, the U.S. government is ready to deal – which spells opportunity for buyers with a little imagination and about $10,000 down.
U.S. Extends Fannie, Freddie Conforming Loan Limits
Reuters | November 21, 2010
Higher maximum conforming mortgage loan limits for Fannie Mae and Freddie Mac will be extended through September 2011, the housing finance entities’ regulator said on Friday.
Reality Check for Fed Forecasts
Reuters | November 22, 2010
The U.S. economy, to mix two Federal Reserve catch phrases, may be disappointingly slow for an extended period.
HUD Looking Into Warehouse Lending for RESPA Compliance
Reverse Mortgage Daily | November 21, 2010
The Department of Housing and Urban Development may issue new guidance under the Real Estate Settlement Procedures Act (RESPA) to address possible changes in warehouse lending used to fund federally insured mortgages.
Percent of Americans Likely to Rent Their Next Home Grows, Survey Indicates
The Los Angeles Times | November 21, 2010
The mortgage financing company’s chief economist, Doug Duncan, used the word to headline his analysis of Fannie Mae’s new national survey of public attitudes about housing. What it found shouldn’t surprise anybody who has paid any attention to home sales: Consumers feel cautious about home buying.
Geithner Says Obama Opposes Depriving Fed of Employment Mandate
Bloomberg | November 21, 2010
U.S. Treasury Secretary Timothy F. Geithner said the Obama administration would oppose any effort to strip the Federal Reserve of its mandate to pursue full employment and warned Republicans against politicizing the central bank.
Flood Insurance Program Drains Millions in Taxpayer Dollars
CNBC | November 18, 2010
The National Flood Insurance Program (NFIP) is one big hurricane away from costing U.S. taxpayers billions of dollars. Experts say unless Congress makes some much needed changes to the program, taxpayers will find themselves footing the bill for another major disaster.
From the National Association of Realtors®:
Mortgage Bankers: Foreclosures Are Falling
The percentage of homes in some stage of foreclosure went down between the second and third quarter of this year, due in large part to banks’ investigations of their processes.
Signs Mortgage Fraud Might Be Picking Up
Information group says investment companies are involved in a high number of suspicious resales.
Frank: Single Entity for Loan Assistance
Massachusetts Democratic U.S. Rep. Barney Frank says there should be just one organization making decisions related to home loan assistance.
Midwest Farm Prices Rise 10 Percent
The Federal Reserve Bank of Chicago attributes the rise in farm values to increasing agricultural prices.
Anthony V. Carollo / President
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