Today’s Real Estate News 2-10-2011

10 Feb

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

The very first article is from the NAR (I usually put those down below) but it’s a good lead-in to the Fannie/Freddie discussion that is happening in Congress right now and the other F&F articles I have today.

Trivia question: I’m curious how many of you know (without Googling it!) what are the real or original entity names of Fannie Mae and Freddie Mac?  Feel free to email me a response to show me how smart you are!  (

What Should Happen to Fannie and Freddie?
The great debate begins today (now yesterday) over the role the government should play in housing finance as a House subcommittee begins determining the GSEs fate.  (Anthony’s Note: Here is an interesting statistical quote from the article: “Fannie and Freddie securitize about 90 percent of all new mortgages.”  90% is incredible.)

Fighting for Fannie, Freddie
The Wall Street Journal | February 9, 2011
Bipartisan support for scrapping the government’s mortgage giants draws criticism from some influential interest groups.

Fannie, Freddie Agreement May Come By End of Year, Frank Says
BusinessWeek | February 10, 2011
Congress may agree on how to overhaul government-owned mortgage companies Fannie Mae and Freddie Mac by year’s end, U.S. Representative Barney Frank said.

Freddie Mac’s Chief Operating Officer Resigns
The Wall Street Journal | February 9, 2011
Freddie Mac said that its chief operating officer, Bruce Witherell, resigned from the company on Wednesday.

U.S. Foreclosure Filings Decline for Fourth Consecutive Month
Bloomberg | February 10, 2011
Foreclosure filings in the U.S. fell 17 percent in January from a year earlier, the fourth straight month of declines, as legal scrutiny of lender practices slowed actions against delinquent homeowners, RealtyTrac Inc. said. (Anthony’s Note: This is great news.  If we continue to see foreclosures drop, that’s a very good sign for the housing market and for the economy.)

Size of FHA-backed Mortgages Should Shrink, Report Says
The Washington Post | February 9, 2011
The size of mortgages backed by the Federal Housing Administration should shrink dramatically so the agency can protect itself against unnecessary financial risk, according to a report to be released this week by George Washington University.

Obama Housing Plan Due Friday; Bernanke Weighs In
Reuters | February 9, 2011
The U.S. government should only back home loans as a last resort in times of economic stress and should explicitly charge for that support, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.

Homebuilders Undermined by Cost of Construction Boom’s Flaws
Bloomberg | February 10, 2011
The rush to meet demand fueled by low interest rates and liberal lending resulted in a doubling of defects per unit from 2000 through 2005 compared with the previous six-year period, according to International Association of Certified Home Inspectors Inc. estimates.

Study Finds 62% Drop in Home Mortgages to Minorities
The Denver Post | February 10, 2011
Since the housing market collapsed, mortgage lending to African-Americans and Latinos has plunged by more than 60 percent, according to a new study of loan information that banks submit to the federal

Do Regulations Kill Jobs? House Report Draws on Businesses’ Answers.
The Washington Post | February 9, 2011
The Republican staff of a key House oversight committee has expressed a degree of sympathy for industry arguments that federal regulations are killing jobs.

From the National Association of Realtors®:

Real Estate Is ‘as Affordable as it Gets’
“Based on incomes, this is as affordable as it gets,” says the chief economist at Moody’s Analytics about purchasing a home in today’s market.

Landing Mortgage More Stressful Than Finding a Job?
Buyers say that navigating the mortgage process was more difficult and stressful than negotiating the sale price on a home or, in some cases, even waiting to hear if they got a job, according to a survey by

FSBO Site Sells for $1 Million, once considered the nation’s largest for-sale-by-owner operation, was recently sold. The company has faced a sharp decrease in revenue since 2008.

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
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Direct Fax: 866.652.8834

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


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