Today’s question: Shadow inventory is the housing inventory that is in different stages of delinquency, but has yet to be foreclosed upon. In our market area, what is your sense of our shadow inventory? What is your guess on what percentage of your clients are in some stage of delinquency?Today’s news that may be of interest to you:
FHA’s Ryan Says Mortgage Down Payment Rule Could Restrict Credit
Bloomberg | April 14, 2011
U.S. regulators “must be mindful of the trade-off” between borrower equity and access to credit as they consider new rules for mortgage risk-retention, Acting Federal Housing Administration Commissioner Bob Ryan said.
Banks, SEC in Talks to Settle Mortgage Charges: Report
Reuters | April 15, 2011
The securities regulator is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported.
Fed Policy Makers Differ Over Policy as Inflation Accelerates
Bloomberg | April 15, 2011
Federal Reserve policy makers aired their differences over how to tackle accelerating inflation, one day before a report that may show the biggest two-month gain in consumer prices since 2008.
New York Shadow Inventory Extends Past Ten Years
HousingWire | April 14, 2011
The shadow inventory in the state of New York – properties with mortgage borrowers more than 90 days delinquent – will take around 154 months to clear.
Should You Take That Job Offer?
The Wall Street Journal | April 15, 2011
If you recently launched a business to dodge unemployment, the thawing job market may be creating a sticky situation: Should you continue growing your start-up or go back to earning a steady paycheck?
Budget Passes, but Conservatives Let Down
The Washington Post | April 15, 2011
A federal budget compromise that was hailed as historic for proposing to cut about $38 billion would reduce federal spending by only $352 million this fiscal year, less than 1 percent of the bill’s advertised amount, according to the Congressional Budget Office.
From the National Association of Realtors®:
Obama Calls for Limits on Itemized Deductions
In his speech on the budget deficit, President Obama recommended reducing spending in the tax code, which could include changes to the mortgage interest deduction.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
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Direct Fax: 866.652.8834
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