July 2009 - Around The Web

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VA Fee Increase for 1004MC Addendum - VA Circular 26-09-11

Published Mon, Aug 03 2009 7:22 PM by feedproxy.google.com

Effective on August 1, 2009, for any appraisal assigned on or after August 1, the appraisal fees have been increased by $50 to cover the new 1004MC form. MARKET CONDITIONS ADDENDUM TO VA APPRAISAL - PREPARATION FEE PURPOSE . The purpose of this circular...
Mortgage Modification, Full Speed Ahead!

Published Sat, Aug 01 2009 8:55 PM by feedproxy.google.com

Yesterday’s Washington Post article on mortgage servicer meetings with Administration officials and today’s Wall Street Journal on the same topic both seem to have overlooked yesterday’s Joint Economic Committee hearing on mortgage modification, entitled...
Unemployment Batters Housing Market

Published Fri, Jul 31 2009 4:03 PM by Realtor.Org

Job losses are shifting the foreclosure trend to regions that were previously unscathed.
How far out of line is the unemployment rate?

Published Fri, Jul 31 2009 3:49 PM by krugman.blogs.nytimes.com

There have been a number of assertions that the unemployment rate is much higher than we should have expected, given the decline in GDP. Now we have updated GDP numbers, which include a revision that makes the decline in GDP since the end of 2007 bigger...
Real Estate Weekly: Home buyers, sellers less happy with agents

Published Fri, Jul 31 2009 3:48 PM by www.marketwatch.com

Don’t miss these top real-estate stories.
U.S. House Prices Haven’t Bottomed Yet

Published Fri, Jul 31 2009 3:47 PM by feedproxy.google.com

Turnover in the American real-estate market may be bottoming, but prices are unlikely to do so for some time. History suggests they’ll keep drifting for another year or two before they find a floor.
"Forecasts vs. Mechanisms in Economics"

Published Fri, Jul 31 2009 3:47 PM by feedproxy.google.com

Putting up another post all too quickly between conference sessions: : This between Edmund Conway and Andrew Lilico on the Today programme on the alleged crisis in economics seems to me to rest upon a misunderstanding of what economics is. Conway says...
Court Throws Out Mortgage Brokers' RESPA Suit

Published Fri, Jul 31 2009 3:47 PM by Realtor.Org

Brokers will now be required to disclose lender rebates and credit borrowers at closing.
RGE Monitor - Weekly Roundup

Published Fri, Jul 31 2009 1:26 PM by feedproxy.google.com

Check out all the great contributions that were published during the past week on RGE’s , , , , , , , , and . This week on , Nouriel makes the case for Ben Bernanke’s reappointment. Considering his initial missteps and miscalculations, Mr. Bernanke, through...
Federal Reserve Balance Sheet Update: Week Of July 29

Published Fri, Jul 31 2009 10:50 AM by www.zerohedge.com

Total Federal Reserve balance sheet assets for the week of July 29 of $2,011 billion consisting of: Securities held outright: $1,343 billion (an increase of $125 billion MoM , resulting from $47.5 billion in new Treasury purchases and a $77.4 billion...
CRE: Another Half Off Sale

Published Fri, Jul 31 2009 8:31 AM by Calculated Risk Blog

Actually more than half off of the loan amount ... From Silicon Valley / San Jose Business Journal: (ht Ross) Note: the building is actually in Sunnyvale. California Bavarian Corp.’s Bordeaux Centre has been sold at auction to its lender Wrightwood Capital...
Unemployed Over 26 Weeks

Published Fri, Jul 31 2009 8:31 AM by Calculated Risk Blog

The DOL this morning showed seasonally adjusted insured unemployment at 6.2 million, down from a peak of about 6.9 million. This raises the question (and frequent emails) of how many unemployed workers have exhausted their regular unemployment benefits...
HUD charges Atlanta Condo Association and real estate agent with discrimination for refusing to sell to families with children

Published Thu, Jul 30 2009 7:23 PM by www.hud.gov

WASHINGTON - The U.S. Department of Housing and Urban Development today announced that it is charging an Atlanta condominium association, a local real estate company, and its agent with housing discrimination for refusing to sell to families with children...
Hope Now: Mortgage Loss Mitigation Statistics

Published Thu, Jul 30 2009 7:23 PM by Calculated Risk Blog

Hope Now released the Q2 today. Most of the data concerns modifications, but here are couple of graphs on delinquencies and foreclosures. Click on graph for larger image in new window. There are now more than 3 million mortgage loans 60+ delinquent based...
Are Servicers Really Reaping Rewards to Foreclose?

Published Thu, Jul 30 2009 5:11 PM by CNBC

Posted By: An article in the New York Times today, suggesting that loan servicers would rather collect hefty fees on loans in delinquency and foreclosure than modify those loans, set off a bit of a firestorm in the community that oversees all those modifications...
Refinances in Second Quarter Reduce Mortgage Payments by $3.4 Billion in Coming Year

Published Thu, Jul 30 2009 5:10 PM by www.freddiemac.com

McLean, VA – In the second quarter of 2009, half of borrowers who refinanced their loan lowered their annual mortgage interest rate by at least 20 percent according to Freddie Mac’s quarterly Refinance Report.
SEC Begins Probe Of Flash Trading

Published Thu, Jul 30 2009 5:09 PM by www.zerohedge.com

*SEC IS EXAMINING FLASH ORDERS TO ENSURE FAIR ACCESS TO DATA 2009-07-30 19:04:18.188 GMT Next up: Dark Pools (hint, hint, Mary) Update: July 30 (Bloomberg) -- The U.S. Securities and Exchange Commission will review so-called flash orders used by four...
Treasury Announces Nearly $90 Million in Recovery Act Funds

Published Thu, Jul 30 2009 5:08 PM by US Treasury

July 30, 2009 TG-248 Treasury Announces Nearly $90 Million in Recovery Act Funds to Strengthen Communities, Provide Affordable Housing In Kansas, Deputy Secretary Visits Housing Development Built with Recovery Act Funds WASHINGTON – As part of the Obama...
Feds Charge Dozens in Mortgage Scam

Published Thu, Jul 30 2009 5:07 PM by Realtor.Org

A mortgage fraud case in South Florida is similar to abuses seen during housing boom.
Home ATM: Low on Cash, but Not Totally Tapped Out

Published Thu, Jul 30 2009 5:06 PM by Wall Street Journal

Using a home-equity loan for extra cash was popular during the housing boom, and while fewer people are taking advantage of the home ATM, a new Freddie Mac report indicates that it still has some cash left. Some are still able to pull extra cash out of...

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July 2009 - Around The Web

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