Today’s news that may be of interest to you:
Freddie Mac Raises Mortgage Fees as It Seeks Adequate Payments
Bloomberg | November 22, 2010
Freddie Mac, the mortgage-finance company under U.S. control, will boost fees it charges lenders selling it riskier home loans. The changes, which take effect March 1, will raise some of the upfront fees by as much 0.75 percent of loan balances and add costs for consumers using additional home loans as part of their borrowing.
Sales of U.S. Existing Homes Probably Fell as Moratoriums Held Back Market
Bloomberg | November 23, 2010
Sales of existing homes probably dropped in October for the first time in three months as foreclosure moratoriums disrupted the U.S. housing market, economists said before a report today.
Paperwork Problems Steer Buyers from Distressed Properties: Report
DSNews | November 22, 2010
The ongoing controversy surrounding deficiencies in foreclosure documentation is taking its toll on the housing market as a significant share of home shoppers refused to even look at distressed properties in October, according to an industry study conducted by Campbell Surveys.
Investors Eye Opportunities in Distressed Properties and Loans
HousingWire | November 22, 2010
In the time between Black Friday and the Christmas break, nonperforming loan investors look set for a bull run, in what one market player is expecting to be a “buying frenzy.”
Foreclosure Takes Toll on Increasing Number of Children
The Washington Post | November 23, 2010
Three years into the mortgage crisis, the public debate over how to stem the unprecedented tide of foreclosures and the damage they are doing to the housing market has largely overshadowed any discussion of the human toll. But researchers have begun to examine what happens to people after they lose their homes and are becoming especially concerned about the harm to children.
New Fannie & Freddie Litigation the Next Ugly Shoe to Drop in Mortgage Repurchase Nightmare?
CNBC | November 22, 2010
Are Fannie Mae and Freddie Mac, the enormous Government Sponsored Enterprises (GSEs) that purchased about three quarters of the total single-family mortgages in the United States, about to step into the repurchase litigation fray?
More Homeowners Paying Cash in Effort to Deleverage
HousingWire | November 22, 2010
Cash was the top source of financing home purchases in September, as more homeowners look to deleverage their debt.
From the National Association of Realtors®:
MID Talk Already Chilling Markets, NAR Says
Federal budget-cutting proposal leaves owners and buyers wondering if the mortgage interest deduction will be there for them.
Loan Delinquencies Still on the Rise
The percentage of mortgage borrowers who were 60 days or more past due on their payments rose to 6.44 percent in the third quarter, up from 6.25 percent in the same period a year earlier.
Foreclosure Defense Attorney Faces Foreclosure
Peter Ticktin of Boca Raton, Fla., whose firm handles some 3,000 foreclosure cases, hasn’t paid his home mortgage since 2006.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!