Today’s Real Estate News 12-21-2010

21 Dec

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

Riding the Unlikely Commercial Real Estate Rebound | December 20, 2010
For years commercial real estate has been billed as the next big train wreck. So why are some investors shouting all aboard?

CoreLogic Sees Mortgage Fraud Rate on the Rise as Origination Volume Drops
HousingWire | December 20, 2010
The probable rate of mortgage fraud on loans written in 2010 increased 20% as the amount of loans originated continues to fall, according to data analytics firm CoreLogic.

New Jersey Orders Court Appearance for 6 Mortgage Lenders
The Washington Post | December 21, 2010
Bank executives who were hoping for a quiet end to this fall’s controversy over irregularities in the foreclosure process are facing a new threat: state judges.

Recession Forces Rise in Low-Wage Families, Report Says
The Washington Post | December 21, 2010
The Great Recession, responsible for boosting unemployment to its highest levels in a generation, has sharply increased the percentage of working people who earn wages so paltry that they are struggling to survive, according to a new report.

Survey: Rising Rates, First-Time Homebuyers Drive Market in November
DSNews | December 20, 2010
Rising mortgage rates helped push first-time homebuyers to buy properties in November, while investors lost some of their enthusiasm for distressed properties last month.

How the Mortgage Industry Polices HAMP
Reuters | December 20, 2010
American Banker’s Kate Berry uncovers a stunning factoid today: the nonprofit Homeownership Preservation Foundation, the official body charged with resolving disputes over HAMP modifications, was founded by ResCap and to this day is run by GMAC and other finance officials from within the mortgage industry.

U.S. Mulls New Push to Shape Bank Pay
The Wall Street Journal | December 20, 2010
U.S. regulators are considering whether to require large financial firms to hold onto a chunk of executive pay to discourage the excessive risk-taking that contributed to the financial crisis, according to people familiar with the situation.

Mortgage Rates Jump. Will Home Prices Fall?
The Wall Street Journal | December 21, 2010
Borrowing money to buy a house just got more expensive. The average rate on a 30-year mortgage rose to 4.83%, Freddie Mac said Thursday. That’s an increase of about two-thirds of a percentage point in five weeks.

From the National Association of Realtors®:

Growing Economy Big Factor for Buyers
The improving economy is a large motivator for home buyers, more so, even, than fear of rising interest rates, say economists.

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

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