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Today’s Real Estate News 3-30-2011

30 Mar

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

Role of Fannie Mae May Be Reinforced by U.S. Risk-Retention Rule
Bloomberg | March 30, 2011
Just as the Obama administration seeks to reduce the government’s role in housing, reliance on Fannie Mae and Freddie Mac may be reinforced by a rule growing out of the Dodd-Frank regulatory overhaul.

Industry Readies Pushback Against Mortgage Risk Retention Proposal
HousingWire | March 29, 2011
Hours after federal regulators released the new proposal on what mortgages will be exempt from risk retention rules, the industry began to push back.

Divisions Emerge in Congress on Fannie, Freddie Overhaul
The Wall Street Journal | March 29, 2011
Divisions among U.S. lawmakers about how soon to overhaul the mortgage market emerged Tuesday, as Senate lawmakers in both parties cautioned against moving too fast, even as House Republicans introduced a slew of new bills that would start to overhaul the sector.

Republicans Introduce Eight Bills to Wind Down Fannie and Freddie
HousingWire | March 29, 2011
Republicans on the House Financial Services Committee unveiled their plans to reform the government-sponsored enterprises Fannie Mae and Freddie Mac Tuesday with eight bills aimed at ending taxpayer bailouts, adding transparency and reducing costs.

Consumer Bureau’s Richard Cordray, From State Regulator to Federal Enforcer
The Washington Post | March 30, 2011
Just months ago, Richard Cordray was Ohio’s attorney general. Today, he is the chief enforcement officer for the Consumer Financial Protection Bureau.

U.S. Mortgage Applications Fell 7.5% Last Week on Refinancing
Bloomberg | March 30, 2011
Mortgage applications in the U.S. fell last week by the most since the period ended Feb. 11 as higher interest rates discouraged home buying and refinancing.

Drop in Home Prices in January Raises Fear of Double Dip
The Washington Post | March 30, 2011
Home prices dropped in nearly all major housing markets in the country in January, according to price index numbers released Tuesday. Analysts said the decrease might be a harbinger of a double-dip recession in the housing market.

From the National Association of Realtors®:

Top 6 Cities Where Buying Is Better Than Renting
A new report from Deutsche Bank offers a list of the cities with some of the best buys in real estate. In one city topping the list, it costs 24 percent less to buy a home than it does to rent there.

‘Worst’ Trashed House Attracts Lots of Offers
It’s moldy, cement was poured down the drains, and a Jacuzzi tub was left running for months, but the badly trashed $1.1 million foreclosed home in Huntington Beach, Calif., attracted five offers after being on the market for less than two weeks

More Builders Offer Extra Safety Net to Buyers
Home builders are offering buyers insurance programs that will make borrowers’ mortgage payments for up to six months in case they lose their job.

Banks Suggest Changes to Mortgage Servicing
As part of a settlement into lending abuses, banks have drafted their own proposal of new mortgage-servicing standards, including timelines for processing loan modifications and a “borrower portal.”


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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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