Wednesday, December 2, 2009

Your Daily Dose from DSNews.com

Email not displaying correctly? View it in your browser.
DS News
Amidst the high-profile news Monday about the administration's push to make more loan modifications permanent, the Treasury also laid out finalized guidelines for short sales. The administration is urging servicers to use short sales as an alternative to foreclosure for those homeowners that don't qualify for a reworked mortgage under the Home Affordable Modification Program. To entice servicers, Treasury will pay out $1,000 for each successful short sale.
Read More

The National Association of Realtors (NAR) said Tuesday that its index of home sales contracts is up yet again, representing the ninth straight month that pending sales have recorded a rise - the longest run of increases since NAR began tracking sales agreements back in 2001. Perhaps even more noteworthy is that the latest reading is the highest on record since March 2006 and is nearly 32 percent above October 2008. The rise from a year ago is the biggest annual increase ever posted for NAR's pending sales index.
Read More

In the most recent report by New York-based Real Estate Econometrics (reeconometrics), the property research firm updated its projections, predicting the default rate for bank-held commercial mortgages will rise to 4.0 percent by the end of 2009 and will peak in 2011. Already defaults on commercial real estate mortgages held by depository institutions has hit a 16-year high.
Read More

Ideal Mortgage Bankers (Ideal), doing business as Lend America and Lending Key, lost approval from the Federal Housing Administration (FHA) on Monday after being faulted for poor underwriting and false certifications. The action, which will take effect immediately, prevents Ideal from originating or underwriting new FHA-insured mortgages and from participating in the FHA single family insurance program.
Read More

Short Sale Approval
You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference.

Unsubscribe roballey.434-974-5586@blogger.com from this list.

Corporate Office:
DS News
1909 Woodall Rodgers
Suite 300
Dallas, TX 75201

Add us to your address book
Washington Bureau:
1101 Pennsylvania Avenue NW
Suite 600
Washington, D.C. 20004

Copyright (C) 2009 DS News All rights reserved.



Forward this email to a friend
Update your profile
QUICK LINKS
DSNews.com
DS News' Red Book
DS News' Black Book
2009 Five Star Conference
DARE

0 comments:

Post a Comment

Pages

About me

Blog Archive