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Today’s Real Estate News 3-25-2011

25 Mar

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

Survey: Nearly Half of Economists See Double-Dip Before Year End
DSNews | March 24, 2011
Almost half of the 111 economists and real estate experts polled this month by an investment and financial technology firm are forecasting a double-dip in home prices to happen this year, and not a single panelist expects property values to recover to the pre-bubble trend for at least the next five years.

Warren Says Consumer Bureau Foes Should Look at Bank ‘Behemoths’
Bloomberg | March 25, 2011
Elizabeth Warren, the Obama administration adviser assigned to set up the Consumer Financial Protection Bureau, said lawmakers looking to limit the agency’s authority should focus instead on the Wall Street “behemoths” aiming to undermine its mission.

Fannie Report Warned of Foreclosure Problems in 2006
The Wall Street Journal | March 25, 2011
Fannie Mae was warned in a 2006 internal report of abuses in the way lenders and their law firms handled foreclosures, long before regulators launched investigations into the mortgage industry’s practices.

Freddie Mac Tells Servicers Not to Foreclose in MERS Name
HousingWire | March 25, 2011
Freddie Mac told servicers managing its loans this week that they can no longer foreclose in the name of Mortgage Electronic Registration Systems.

Mortgage Rates Increase; 30-Year Fixed at 4.81%
The Wall Street Journal | March 25, 2011
Mortgage rates increased in the latest week, with the average rate on 30-year fixed-rate mortgages edging closer to 5%, though it remained lower than a year earlier, according to Freddie Mac’s weekly survey of mortgage rates.

Bernanke to Speak Out More to Explain, Bolster Policies
The Wall Street Journal | March 25, 2011
Federal Reserve Chairman Ben Bernanke in April will start holding quarterly, televised news conferences, in the central bank’s latest effort to better explain its actions.

U.S. Commercial Rents to Reach Previous Peak by 2015, RREEF Says
Bloomberg | March 25, 2011
U.S. commercial rents will reach their former peak levels by 2015, with growth in office and warehouse rates surpassing the apartment sector in two years, according to a forecast by RREEF.

Paving the Way for an Indian Fannie Mae
The Wall Street Journal | March 25, 2011
As the U.S. thinks about how to phase out the two mortgage finance firms it took over in 2008, India is getting ready to open its first mortgage guarantee company, which an official says could eventually pave the way for an Indian Fannie Mae.

Lenders Rush to Meet Fed’s Reg Z Rules on Loan Officer Pay
HousingWire | March 24, 2011
Mortgage brokers and lenders are running in a deep fog as they scramble to comply with broker and loan officer compensation rules that take effect April 1.

From the National Association of Realtors®:

What Is a ‘Safe’ Mortgage?
Is it a loan with a 20 percent down payment? Or 10 percent down payment with mortgage insurance? Next week, the FDIC will consider new rules that will define what a “safe” mortgage is.

Bunker Sales Soar Amid Japan Crisis
Add a bunker to your backyard? Sales of luxury doomsday bunkers have jumped 1,000 percent in some cases as fear prompts more U.S. residents to seek protection from earthquakes, wars, or nuclear meltdowns.

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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