Monday, April 5, 2010

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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.
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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.
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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.
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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."
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Inman AM: 3 real estate comedians

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Monday, April 05, 2010

3 real estate comedians
By MARY UMBERGER Heard the one about the three real estate agents who walked into a comedy club? Probably not. But maybe you will, someday. Take Alisha Braatz, who isn't entirely kidding when she says she'd love to be the "opening act" at the National Association of Realtors' annual convention. More »

6 issues to steer financial reform
Part 1: Preventing another crisis


Paying rent for peace and privacy
Letter to the Editor


Still waiting for short-sale approval ...
Inman Comics


OTHER TOP STORIES

Premium Members Read the fine print in job numbers

Premium Members ZipRealty, Zillow launch iPad apps

Premium Members HUD redefines 'foreclosed,' 'abandoned'

Premium Members Beware of taxes in distressed sales

Inspections 'for informational purposes'

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30 Day Social Media Plan
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Premium Members "Technology ... (is) not going to come in and make you a dollar. What it can do -- it can really accelerate you out of this market. If you make the right choices in technology, a company can accelerate out of this faster than those who don't have this focus." --Mark R. Warren


JOSEPH FERRARA: Recent Columns

Premium Members Geo-fencing and mobile marketing

Premium Members 5 tools to promote your events online

Premium Members Get ready for 'virtually virtual' office

More Joseph Ferrara »

Inman News Headlines is a twice daily e-mail delivered by the real estate industry's leading source of breaking news and unbiased market analysis. To gain unlimited access to all Inman News articles and take advantage of exclusive, premium members-only benefits including free access to our Industry Special Reports and Week-in-Review e-mails, plus discounts on our industry-leading events and in-depth research reports, Upgrade to an Inman News Inman News Premium Membership Has Its Benefits - Join Today! Premium Membership today!
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Sunday, April 4, 2010

Inman SUNDAY edition: Short-sale success strategies

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Sunday, April 04, 2010

Short-sale success strategies
Right agent, right offer price work wonders


Inspiring lessons from Zig Ziglar

Geo-fencing: next in mobile marketing?

'Mark,' 'Jane' and the tax credit

Outrage over California tax credit

Know the role of home inspectors

Comics: Still waiting for short-sale approval

Kris Berg's iPad debut

Inspections 'for informational purposes'

A profit-sharing prophecy

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Friday, April 2, 2010

Inman PM: Read the fine print in job numbers

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Friday, April 02, 2010

Read the fine print in job numbers
By LOU BARNES A pleasant surprise in March hiring has pushed up all long-term rates: 10-year Treasurys to 3.94 percent, and mortgages to 5.25 percent. Even better news than the jobs: Rates could have gone a great deal higher. Other new data this week were as positive as employment: the Institute for Supply Management's survey of manufacturing in March jumped past expectations to the best reading since 2004, to a 59.6 reading. More »

ZipRealty, Zillow launch iPad apps
Apps capitalize on larger-than-iPhone screen size


Inspections for informational purposes

Inspections 'for informational purposes'
The Wheel Estate Cam: Episode 18


HUD redefines 'foreclosed,' 'abandoned'
$3.92B in funds must be allocated by September


Beware of taxes in distressed sales
Home Sale Hindsight


OTHER TOP STORIES

ERA looks back to its roots

Manhattan sales soar in Q1

Jumpstart your loan mod

Kris Berg's iPad debut

Latest News »
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Business Today: Asian shares rise on upbeat U.S. data, autos gain

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Good Morning Robert, FRI 02 Apr 2010 
 
Asian shares rise on upbeat U.S. data, autos gain
March payrolls rise 162,000 on private hiring
China central bank sees dollar strength, global inflation
Discounts drive auto sales rise, Toyota surge
Samsung Electronics shares hit record high
Fed's balance sheet down in latest week
Citi spinoff Primerica soars on hopes for economy
Toyota to extend sales incentives
MGM mulls standalone plan, suitor grows restless
Dell says several former staff may face SEC action


Asian shares rise on upbeat U.S. data, autos gain
April 02, 2010 04:26 AM ET
TOKYO (Reuters) - Asian shares rose on Friday, with South Korean stocks hitting a 21-month high, as upbeat U.S. manufacturing data and jobless claims boosted hopes for a sustainable economic recovery.

Full Article
March payrolls rise 162,000 on private hiring
April 02, 2010 08:33 AM ET
WASHINGTON (Reuters) - U.S. non-farm payrolls, a key measure of the economy's health, rose in March for only the third time since recession struck in late 2007 as the private sector stepped up hiring at the fastest pace in almost 3 years.

Full Article
China central bank sees dollar strength, global inflation
April 02, 2010 07:08 AM ET
BEIJING (Reuters) - China's central bank said on Friday that it expected the dollar to strengthen this year, but it raised the specter of worldwide asset bubbles and inflation.

Full Article
Discounts drive auto sales rise, Toyota surge
April 01, 2010 09:49 PM ET
DETROIT (Reuters) - U.S. auto sales jumped to a seven-month high in March led by a 41 percent surge at Toyota Motor Corp after the Japanese automaker offered the steepest discounts in its history to win back sales lost during its recent safety crisis.

Full Article
Samsung Electronics shares hit record high
April 01, 2010 09:41 PM ET
SEOUL (Reuters) - Shares in Samsung Electronics hit a record high on Friday fueled by foreign buying amid current strong memory chip momentum and a robust earnings outlook for the first half.

Full Article
Fed's balance sheet down in latest week
April 01, 2010 07:25 PM ET
NEW YORK (Reuters) - The Federal Reserve's balance sheet fell in the latest week, Fed data released on Thursday showed.

Full Article
Citi spinoff Primerica soars on hopes for economy
April 01, 2010 04:53 PM ET
NEW YORK (Reuters) - Citigroup Inc's spinoff of its life insurance unit, Primerica Inc saw its shares gain more than a third in its debut on optimism that the life insurer will benefit from a rebounding economy.

Full Article
Toyota to extend sales incentives
April 01, 2010 08:19 PM ET
DETROIT (Reuters) - Toyota Motor Corp will extend U.S. sales incentives in April as it recovers from a two-month sales dip linked to recalls and suspended sales.

Full Article
MGM mulls standalone plan, suitor grows restless
April 01, 2010 08:07 PM ET
LOS ANGELES (Reuters) - Metro-Goldwyn-Mayer's steering committee met with creditors on Thursday to present a stand-alone plan for the studio, as Access Industries threatened to drop its bid unless it gets a response soon, sources familiar with the matter said.

Full Article
Dell says several former staff may face SEC action
April 01, 2010 08:06 PM ET
SAN FRANCISCO (Reuters) - Dell Inc said on Thursday several of its former employees had been told they may face some sort of action by financial regulators related to a long-running probe of the PC maker's accounting.

Full Article
 
 











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