Today’s Real Estate News 6-14-2011

14 Jun

The results are in!  In answering the question “Is getting a purchase loan difficult today or does it seem reasonable?” most of the respondants said it is harder than it once was but it is still within reach for many borrowers.  Most of the other responses were fairly optimistic.  To see who voted and how they voted, or to add your vote, the question is still posted on Facebook at:

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

Fannie Mae Offering REO Agents $1,200 Incentive
HousingWire | June 13, 2011
Real estate agents selling real-estate owned properties on behalf of Fannie Mae must work toward selling the home to owner occupants.

Economists in AP Survey Say Time, Not More Action By the Fed, is Best Prescription
The Washington Post | June 14, 2011
The best cure for the economy now is time. That’s the overwhelming opinion of leading economists in a new Associated Press survey. They say the Federal Reserve shouldn’t bother trying to stimulate the economy – and could actually do damage if it did.

GSEs’ Boom Loans Make for ‘Critical Supervisory Concerns’
DSNews | June 13, 2011
The Federal Housing Finance Agency (FHFA) issued its third report to Congress Monday, detailing the regulator’s 2010 annual audit of Fannie Mae and Freddie Mac.

Regulators Extend Deadline for Servicers’ Foreclosure Review Plans
DSNews | June 13, | 2011
Federal regulators with the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) have issued notices extending the deadline for 12 of 14 mortgage servicers to submit their action plans for conducting foreclosure reviews.

Retirement Plans Make Comeback, With Limits
The Wall Street Journal | June 14, 2011
Many U.S. companies that during the recession cut 401(k) matching contributions – one of the most valuable employee benefits – are beginning to restore them.

Beazer’s CEO Departs
The Wall Street Journal | June 14, 2011
In a surprise move, builder Beazer Homes USA Inc. said Chief Executive Ian McCarthy stepped down over the weekend, three months after he agreed to repay millions of dollars as part of a settlement with the Securities and Exchange Commission.

US Bancorp’s Davis Warns Against Overreaction to Consumer Bureau
Bloomberg | June 13, 2011
Richard K. Davis, chairman and chief executive officer of US Bancorp (USB), said banks shouldn’t “overreact” to the creation of the U.S. Consumer Financial Protection Bureau, or worry about its effect on business.

Servicers make philosophical shift to rehab more REO
HousingWire | June 13, 2011
Servicers made a fundamental shift in how they resell previously foreclosed property at the end of 2010.  More are now willing to go through the extra expense of repairing REO ahead of the sale, according to Kevin Schriver, a Wells Fargo vendor network manager.

Fannie, Freddie Improving but Still Draining Federal Resources: FHFA
HousingWire | June 13, 2011
Conservatorship has been good for Fannie Mae and Freddie Mac, but the companies continue to drain federal resources away from other government operations, according to the regulator of the mortgage giants.  (I think I see a pattern here.  See the first article at the top.  Where do you think Fannie Mae is getting the $1,200 incentive? ~Anthony)

From the National Association of Realtors®:

7 Highest-Performing Major Housing Markets
Where is real estate coming back strong? Find out which markets are posting the strongest quarterly gains.

2 Executives Sentenced in $3 Billion Fraud Ring
Two executives were sentenced to several years in prison for their involvement in a massive fraud ring that led to the collapse of one of the country’s largest privately held mortgage lending companies, as well as a bank.

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


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





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