Today’s news that may be of interest to you:
FHA Bailout Risk Looming Larger After Guarantee Binge: Mortgages
Bloomberg | March 27 2012
The Federal Housing Administration won?t be able to earn its way to financial health this year, increasing the chance it will need a taxpayer bailout, based on an updated forecast from Moody’s Analytics, which provides the agency’s housing-market analysis.
Low Interest Rates Put Cash in Americans’ Pockets
USA Today | March 26, 2012
A historic drop in interest rates is helping save U.S. households more than $3,000 a year on average, allowing consumers to spend more even as their earnings fall. (While the low interest rates DO help folks to spend more, here is another viewpoint that shows how those same rates hurt retirees. ~Anthony How the Fed Hurts Retirees )
FHA to Deny Mortgage Backing for Credit Disputes Above $1,000
HousingWire | March 27, 2012
Beginning April 1, potential borrowers with ongoing credit disputes totaling more than $1,000 will not be able to get a mortgage insured by the Federal Housing Administration.
Lawsuit Against Fannie Mae, Freddie Mac May Give State Millions
Detroit Free Press | March 26, 2012
Michigan’s school aid fund could get a windfall of up to $100 million, and 82 of Michigan’s 83 counties could collectively claim millions more under a judge’s ruling last week that mortgage giants Fannie Mae and Freddie Mac illegally withheld payments of transfer taxes in property sales.
Fed Will Keep Interest Rates Low, Bernanke Signals
The Los Angeles Times | March 26, 2012
Though the labor market and the economy have improved in recent months, he stresses that labor-market conditions are “far from normal.”
White House, Democrats at Odds Over Obama-Backed Pro-Business Bill
The Washington Post | March 26, 2012
Obama allies are in uproar over pro-business legislation embraced by the president, exposing a new rift in his relations with Democratic lawmakers and supporters amid efforts to mend those ties.
Freddie’s Haldeman: Would have been happy with $1 in exec pay
HousingWire | March 26, 2012
The outgoing CEO of Freddie Mac, Charles ‘Ed’ Haldeman, is in a state of reflection. He predicts he will leave by mid-year and is deeply dismayed at some of the things that happened in the short time he held the reins at Freddie Mac. (While I don’t know much about the guy, Haldeman’s interview points about the focus of the two Congressional hearings is revealing. ~Anthony)
Market Has ‘Tall Order to Fill’ as $362B in CRE Loans Matures in 2012
DSNews.com | March 26, 2012
The commercial real estate (CRE) sector faces $362 billion in maturing debt this year, according to the latest estimates from Trepp LLC, a New York-based provider of commercial mortgage information and analytics.
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!