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Email not displaying correctly? View it in your browser. HUD Redefines "Foreclosed" to Include 60-Day Delinquencies HUD's got a big red editing pen in hand and is going to work on what we've all understood to be the traditional meaning of foreclosure. The federal agency announced Friday that, effective immediately, it is classifying any property that is at least 60 days behind on the mortgage or the property owner is 90 days or more delinquent on tax payments as a "foreclosed" home. Officials say the new wordsmith-ing will help communities acquire and re-sell foreclosed properties more quickly under the Neighborhood Stabilization Program. TARP Repayments Reach $181 Billion The Treasury Department announced Friday that it has received a total of $181 billion from companies to repay their government bailouts. The new figures were released after the Treasury collected full repayment on Troubled Asset Relief Program (TARP) money given to insurance and investment firm Hartford Financial Services Group, Inc. in the sum of $3.4 billion. Automaker General Motors also repaid $1 billion. While the auto industry's bailout is expected to be one of the biggest TARP losers, Treasury now estimates that its programs aimed at stabilizing the banking system will earn a profit. Lawmakers Introduce Bill to Eliminate Servicing Conflicts of Interest There are thousands of troubled mortgages in need of modification, but some lawmakers think there is a conflict of interest, in the form of second mortgage ownership, that may be preventing large mortgage companies from voluntarily offering modification services. In hopes of eradicating this issue, two members of the House Financial Services Committee have introduced the Mortgage Servicing Conflict of Interest Elimination Act, which prohibits servicers from owning debt secured by a home that backs a mortgage they already service. Unemployment Rate Holds at 9.7% The U.S. Department of Labor released new numbers Friday, and although the unemployment rate held steady at 9.7 percent, the still-elevated number of jobless Americans continues to be one of the biggest obstacles to recovery in both the residential and commercial real estate markets. Treasury Secretary Timothy Geithner said in an interview ahead of the labor report, "The unemployment rate is still terribly high, and it's going to stay unacceptably high for a long period of time." You are receiving this e-mail because you opted in at our Web site DSNews.com or attended a Five Star Conference. Unsubscribe roballeyrealtor@gmail.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 2010 Five Star Conference DARE

Business Today: Futures rise, buoyed by payrolls data

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Good Morning Robert, MON 05 Apr 2010    Futures rise, buoyed by payrolls data China economist sees "room for talk" on currency row Office vacancy rate hits 16-year high Greek deputy PM says Portugal may be next victim: report China quiet on U.S. currency report delay Analysts expect Apple to sell 5 million iPads in first year Walgreen March sales rose, helped by early Easter Wilbur Ross backing Virgin Money in RBS branch bid CEO pay down 15 percent, Ellison tops list: NYT Starbucks goes upmarket with Seattle test cafe Questions over China's currency Waiting Game for iPad is Over 3D to launch on mobile phones Futures rise, buoyed by payrolls data April 05, 2010 08:11 AM ET NEW YORK (Reuters) - Stock index futures rose on Monday, the first trading day after government data showed the economy added the largest number of jobs in three years, boosting hopes the recovery was accelerating. Full Article China economist sees "room for talk" on currency row April 05, 2010 07:56 AM ET BEIJING (Reuters) - A Chinese government economist said on Monday that the U.S. decision to delay a contentious currency report did not mean Beijing will change the value of its currency any time soon. Full Article Office vacancy rate hits 16-year high April 05, 2010 01:26 AM ET NEW YORK (Reuters) - The U.S. office vacancy rate in the first quarter reached its highest level in 16 years, but the decline in rents eased and crept closer to stabilization, according to a report by real estate research firm Reis Inc. Full Article Greek deputy PM says Portugal may be next victim: report April 05, 2010 06:35 AM ET LISBON (Reuters) - The sort of debt problems seen in Greece are likely to spread further in the euro zone and Portugal could be the next victim, Greek Deputy Prime Minister Theodoros Pangalos was on Monday quoted as saying. Full Article China quiet on U.S. currency report delay April 05, 2010 05:51 AM ET BEIJING (Reuters) - A Chinese central bank adviser said Beijing could ease pressure over the yuan by buying more from recession-hit U.S. states, but China had no official reaction on Monday to the Obama administration's delay of a contentious currency report. Full Article Analysts expect Apple to sell 5 million iPads in first year April 05, 2010 07:42 AM ET (Reuters) - Wall Street analysts on Monday joined the masses in terming Apple Inc's iPad launch as "rock-solid," with some pegging sales of the tablet computer at about 5 million units in the first 12 months. Full Article Walgreen March sales rose, helped by early Easter April 05, 2010 08:21 AM ET CHICAGO (Reuters) - Walgreen Co said on Monday that sales at drugstores open at least a year rose 2.3 percent in March, as an earlier Easter drove sales of candy and other general merchandise and an extra weekday boosted sales of prescription medications. Full Article Wilbur Ross backing Virgin Money in RBS branch bid April 04, 2010 11:25 PM ET NEW YORK (Reuters) - Billionaire investor Wilbur Ross said on Sunday he is prepared to commit up to 500 million pounds ($760 million) to support Virgin Money in its bid to buy the branch network of the Royal Bank of Scotland . Full Article CEO pay down 15 percent, Ellison tops list: NYT April 05, 2010 06:50 AM ET NEW YORK (Reuters) - The average compensation for chief executives at the largest publicly traded U.S. companies fell 15 percent last year to $9.53 million, a decline attributable to the falling value of stock and option awards, the New York Times said on Sunday. Full Article Starbucks goes upmarket with Seattle test cafe April 05, 2010 06:53 AM ET SEATTLE (Reuters) - Heavy velvet curtains, indie movie nights, single-origin coffees, wine and beer, mouth-watering organic pastries and gourmet cheese and meat plates -- this is Starbucks? Full Article

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