Today’s news that may be of interest to you:
Fed Publishes Guidance on Loan Officer Compensation
DSNews | January 29, 2011
Heeding pleas from industry players and trade groups across the country, the Federal Reserve issued additional guidance this week to help smaller mortgage lenders and loan brokers comply with the agency’s new loan officer compensation rules that take effect April 1, 2011.
Home Prices Sink Further
The Wall Street Journal | January 31, 2011
Declines Reported in All 28 Major Metropolitan Areas; Unsold Inventory Piles Up
U.S. Consumer Spending, Incomes Probably Increased in December
Bloomberg | January 31, 2011
Consumer spending in the U.S. probably accelerated in December, capping its strongest quarter in more than four years, economists said before a report today.
FHA Extends ‘Anti-Flipping Waiver’ to Speed Sales of REO Homes
DSNews | January 29, 2011
The Federal Housing Administration (FHA) announced Friday that it is extending the suspension of its ‘anti-flipping rule’ through the remainder of 2011.
Small Business Regulatory ‘Burden’ Is Tough to Quantify
The Wall Street Journal | January 30, 2011
When President Barack Obama announced a review of U.S. regulations last week, he said one important goal was to reduce “the burden regulations may place on small business.” But the basis for the widely repeated notion that small firms face undue regulatory obstacles appears flimsy, some researchers say.
Banks Grip on Prime Shadow Inventory Growing: Morgan Stanley
HousingWire | January 29, 2011
Whether they like it or not, the nation’s banks control most of the country’s shadow inventory, according to a report Friday from Morgan Stanley.
Foot-dragging on Fannie Mae Reform
The Boston Globe | January 31, 2011
When is a deadline not a deadline? When you are the US government. At least that’s the message from the Treasury Department, which today was supposed to submit a recommendation for restructuring Fannie Mae and Freddie Mac, the government mortgage giants.
Hotels Rates to Start Rising in 2011
The Washington Post | January 30, 2011
Consumers contemplating a getaway may want to book a hotel room sooner rather than later, as room rates are set to rise this year. Substantial increases of $10 or more are at least another year or two away, but the lodging industry plans to take advantage of improving market conditions.
In America’s Richest Small Towns: Big Sales Stall
Bloomberg BusinessWeek | January 21, 2011
Want to buy Billy Joel’s Sagaponack home? Last month the piano man dropped the price on his oceanfront house on Long Island’s East End again, this time from $19.9 million to $18.5 million. It started out at $22.5 million when he first listed the property in 2009.
From the National Association of Realtors®:
10 Cities Where Home Prices Will Rise in 2011
Clear Capital released its list of cities expected to see a rise in property values in the new year. The city that topped the list is expected to see a 6.5 percent increase in home values. Can you guess where?
Is Inexperience Hampering the Short Sale Process?
“Many short sales are lost to foreclosure because of the inexperience of the listing agent,” said one real estate practitioner who specializes in distressed sales.
Late Video Rental Fees? No Mortgage!
If you plan to refinance or buy a home, you might think twice about being late on paying a video rental fee ever again. Thousands of customers of Hollywood Video and Movie Gallery are learning that the hard way.
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!