Today’s news that may be of interest to you:
MetLife originates $1.6 billion in agricultural mortgages
HousingWire | November 8, 2011
Insurer MetLife which runs its own agricultural investment unit, originated $1.6 billion in agricultural mortgages this year to support farms, ranches, timberland and agribusiness facilities. The firm’s recent originations included a $75 million contribution towards a $90 million senior secured loan on Aurora Cooperative out of Aurora, Neb. The loan is secured by grain handling and storage facilities. (It’s great to see positive news of investment into the breadbasket of America. If you are a Spokanite and you haven’t yet visited our local breadbasket and supported the folks at Green Bluff or the farmers market, it’s worth the trip! I believe there is real value in teaching the younger generation where their food comes from. http://www.greenbluffgrowers.com/ or http://www.spokanefarmersmarket.org/ )
CFPB Reveals Larger Prototype Mortgage Form for Public Scrutiny
HousingWire | November 8, 2011
After collecting feedback from thousands of members of the industry on its prototype mortgage disclosure forms, the Consumer Financial Protection Bureau is ready to accept public opinions on the documents.
Mortgage Applications Jump 10.3% as Interest Rates Decline
HousingWire | November 9, 2011
Mortgage applications increased 10.3% this past week as more homeowners refinanced existing mortgages or took advantage of lower interest rates to buy homes.
Housing Market Looks Fine From Here
The Wall Street Journal | November 8, 2011
The number of housing markets showing signs of improved economic health grew from 23 to 30 nationwide, according to a market index produced by a housing industry trade group and a national title insurance firm.
Foreclosure Backlogs Could Take Decades to Clear Out
USA Today | November 9, 2011
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
Wealthy Qualifying for Loans Intended for Low-Income Borrowers
Bloomberg | November 8, 2011
Congress is weighing a proposal to restore higher loan limits that expired on Oct. 1. The measure, already adopted by the Senate, would allow the FHA and government-controlled Fannie Mae and Freddie Mac to insure single-family mortgages for as much as $729,750, up from the current $625,500, in high-cost parts of the country.
Governments on the Prowl
The Wall Street Journal | November 9, 2011
Municipalities in many parts of the U.S. are buying properties rather than renting or building them to take advantage of the weak sales markets.
Holiday Travelers Should Expect Higher Airfares and Packed Planes
The Los Angeles Times | November 9, 2011
Because airlines have reduced thousands of available seats, low-fare airline tickets for the busiest days surrounding Thanksgiving and Christmas will go quickly, experts say, leaving only high-priced seats or fares for flights several days before or after the holidays.
Green Bluff 2011
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!