Today’s Real Estate News 12-28-2010

28 Dec

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

Housing Starts Seen Rising to 3-Year High with Boost for Jobs
Bloomberg | December 28, 2010
Federal Reserve Chairman Ben S. Bernanke may be about to get help in his attempt to boost the economy, from an industry at rock-bottom: housing.

Out of Lehman’s Ashes Wall Street Gets Most of What It Wants
The Washington Post | December 28, 2010
Wall Street’s biggest banks, whose missteps caused a global financial crisis and economic slowdown two years ago, were more agile when it came to countering the political and regulatory response.

Ally Subsidiaries Reach $462M Settlement with Fannie on Repurchases
HousingWire | December 27, 2010
Ally Financial’s mortgage unit, Residential Capital, and certain ResCap subsidiaries reached a $462 million settlement with Fannie Mae on potential mortgage repurchases.

‘Deadbeat’ TARP Banks on Rise
The Washington Post | December 28, 2010
The Obama administration has begun monitoring the high-level board meetings of nearly 20 banks that received emergency taxpayer assistance but repeatedly failed to pay the required dividends, according to Treasury Department officials and documents. And it may soon install new directors on some of their boards.

Federal Reserve Board approves interim rule to amend Regulation Z
HousingWire | December 27, 2010
The Federal Reserve Board approved an interim rule late last week that will require lenders to show borrowers examples how of a loan’s interest rate or monthly payments can change in accordance with a five-year, adjustable-rate mortgage.

LPS: Nearly 2.2 Million Mortgages are More than 90 Days Delinquent
HousingWire | December 27, 2010
The volume of loans moving to REO continued to drop in November as moratoria further delayed foreclosure sales, according to the latest Mortgage Monitor report from Lender Processing Services.

Prediction: Mortgage Delinquencies Will Decline in 2011
DSNews | December 27, 2010
The annual consumer credit forecast from U.S. credit bureau TransUnion predicts a 20 percent drop in national mortgage loan delinquencies by the end of 2011.

U.S. Housing Prices Likely to Fall 5% to 7% More, Zillow’s Humphries Says
Bloomberg | December 27, 2010
U.S. home prices will fall 5 percent to 7 percent more before a reaching a bottom in late 2011, said Stan Humphries, chief economist of Zillow Inc., a provider of housing data.

Officials Search for Fannie-Freddie Road Map
The Wall Street Journal | December 24, 2010
Obama administration officials are struggling to reach consensus on a future path for mortgage giants Fannie Mae and Freddie Mac, unable to agree on whether the government should provide a guarantee for new mortgages when the market stabilizes, according to people familiar with the discussions.

Startups Key to Job Growth
The Wall Street Journal | December 27, 2010
New businesses are the most important source of new jobs, researchers say. And that’s just counting people who are on the payrolls of firms that get counted in official job statistics.

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