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Real Estate News 3-7-2012

07 Mar

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

Refinancing Fees Are Reduced for Some FHA Borrowers
The New York Times | March 6, 2012
In what it described as part of an initiative to lift the housing market, the Obama administration said Tuesday that it would make refinancing less expensive for certain borrowers with mortgages backed by the Federal Housing Administration.

Fannie Mae Seeks $4.6 Billion in Aid After Q4 Loss
Bloomberg | March 6, 2012
Fannie Mae, the biggest source of money for U.S. home loans, said on Wednesday it would seek $4.6 billion in additional federal aid after reporting a fourth-quarter loss.

Are More New Foreclosures a Good Thing?
The Wall Street Journal | March 6, 2012
The freeze on new foreclosures is starting to crack, a report out today says.  Foreclosure starts – or when a lender files paperwork to begin the foreclosure process – jumped 28% in January compared with December, although starts were down 11.5% from the same month in 2011, according to data firm Lender Processing Services.

Senate Democrats Push Plan to Rehabilitate Vacant Houses, Buildings
The Hill | March 6, 2012
A group of Senate Democrats introduced a plan Tuesday that would expand a housing program aimed at rehabilitating residential and business properties. 

Obama Unveils Housing Initiatives for Military, FHA Families
Washington Post | March 6, 2012
President Obama on Tuesday unveiled two housing initiatives intended to assist members of the military and Americans with government-insured loans.

CFPB Readies New Mortgage Servicing Rules This Year
HousingWire | March 6, 2012
The Consumer Financial Protection Bureau plans to issue new rules for mortgage servicers this year with the state attorneys general ready to enforce them.

Housing Dependent on Young, Struggling Americans
HousingWire | March 6, 2012
The Echo Boomers, better known as children of Baby Boomers and Gen X, are the future of the housing market. Unfortunately, they continue to struggle financially creating uncertainty in the real estate market, the Bipartisan Policy Center said.   

Private sector added 216,000 jobs in February
HousingWire | March 7, 2012
The private sector added 216,000 jobs in February, according to the latest national employment report from Automatic Data Processing.

NAR affordability index breaks new threshold
HousingWire | March 6, 2012
The National Association of Realtors‘ affordability index broke the 200 mark for the first time ever, rising to 206.1 in January.

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
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acarollo@stewart.com

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