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Today’s Real Estate News 1-18-2011

18 Jan

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

Toward a 21st-Century Regulatory System
The Wall Street Journal | January 18, 2011
For two centuries, America’s free market has not only been the source of dazzling ideas and path-breaking products, it has also been the greatest force for prosperity the world has ever known. That vibrant entrepreneurialism is the key to our continued global leadership and the success of our people.

Texas Releases $45 Million More for First-Time Homebuyer Tax Credit
HousingWire | January 17, 2011
The Texas Department of Housing and Community Affairs recently made available a second round of funding for its first-time homebuyer tax credit program under its Texas Mortgage Credit Program.

Fed Officials Signal Growth Pickup Won’t Alter Bond Purchases
Bloomberg | January 18, 2011
Federal Reserve policy makers, who see unemployment falling too slowly for their liking, are giving no indication that signs of an accelerating recovery will dissuade them from carrying out record monetary-stimulus plans.

VA Directs Mortgage Servicers to Pay Short Sale Relocation Assistance
HousingWire | January 17, 2011
The Department of Veterans Affairs directed its mortgage servicers to provide $1,500 in relocation assistance to borrowers leaving their home after a short sale or a deed-in-lieu of foreclosure.

NAHB: Housing Starts to Grow 21% in 2011
HousingWire | January 17, 2011
Housing will see gradual improvements this year, establishing momentum for stronger gains in 2012, said economists at the National Association of Home Builders International Builders’ Show in Orlando this week.

Obama Launches Rule Review, Pledging to Spur Jobs, Growth
The Wall Street Journal | January 18, 2011
President Barack Obama plans a government-wide review of federal regulations, aiming to eliminate rules that stymie economic growth.

FDIC’s New Tools to Close Troubled Banks Offer Opportunity, Challenge
The Washington Post | January 17, 2011
New powers given to the FDIC under the landmark financial regulation bill represent a daunting challenge for the agency, which has plenty of experience shutting down troubled firms but has dealt primarily with small banks. Focusing on some of the nation’s financial behemoths, observers say, will require different skills

Fed Felt Hamstrung By 2005 Housing Bubble
The Wall Street Journal | January 17, 2011
Federal Reserve officials acknowledged a housing-market bubble more than a year before U.S. house prices peaked, but they showed little inclination to address it, according to transcripts of their 2005 meetings released Friday.

Citigroup 46% Gain Masks Flawed Mortgages Sold to Freddie Mac
Bloomberg | January 18, 2011
As Vikram Pandit celebrates his first full-year profit as head of Citigroup Inc., an old nemesis clouds the bank’s future: defective mortgages.

Rosengren Sees Limited Housing Recovery Slowing Overall Growth
HousingWire | January 17, 2011
One Federal Reserve official doesn’t expect the housing market to spur economy growth, as it has in prior recoveries, and he defended the central bank’s monetary and fiscal policy decisions as necessary and appropriate.

From the National Association of Realtors®:

Down Payments Under 30% Risky?
Some in the real estate industry are speaking out against a proposal that would make loans with a down payment below 30 percent meet a new risk retention requirement that could ultimately work against many borrowers.

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
acarollo@stewart.com

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

www.StewartSpokane.com

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