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Top News

U.S. abandons case against AIG – CNN Money – – default swaps on mortgage securities. The value of those securities plummeted when the bottom fell out of the housing market in the summer of 2007. 0:00 /3:32Hank Greenberg on AIG’s future At the same time, Cassano said publicly that the company’s losses

Coulee Bank, La Crosse, Wisconsin, Assumes All of the Deposits of Pinehurst Bank, St. Paul, Minnesota
FDIC – – May 21, 2010 Media Contact: David Barr Office Phone: (202) 898-6992 Cell Phone: (703) 622-4790 Email: dbarr@fdic.gov Pinehurst Bank, St. Paul, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the 

Market News

Real Estate Weekly: Most wouldn’t walk away from mortgage: survey – MarketWatch – – Forty-one percent of homeowners with a mortgage would consider walking away from their home if the loan were to go underwater, meaning they’d owe more than

April existing home sales jump 7.6% before tax breaks run out – USA Today – – Existing home sales leaped more than expected in April as buyers rushed to take advantage of a homebuyer tax credit before it expired at the end of the month. HOME PRICES 

Buyers’ attitudes about foreclosures changing – Las Vegas Review Journal – – no matter what, Trulia co-founder and Chief Executive Officer Pete Flint said Thursday. For every borrower who avoided foreclosure through the $75 billion Home Affordable Mortgage Program, 10 otherfamilies lost their homes, he said. ‘It now seems clear 

Technology News

Try these 7 features of Google Maps – USA Today – – Google Maps has become the go-to site for maps and driving directions. And, thanks to satellite and street-level photos, you can explore the world. But, these aren’t the only tricks

Other News

Staging With This Year’s Hot Hue – REALTOR Magazine – – Turquoise can instantly add a pop of color to any space, and the versatile color which is often associated with forms of escape, such as a tropical paradise often elicits pleasant and inviting feelings as you step into a room. That’s

New rule says banks must prove ownership before foreclosing – Miami Herald – – Foreclosure filings have backed off this year compared to 2009, but it may not be a brightening economy causing the decline.A new Florida Supreme Court rule requires lenders to verify 

Top News

Fed expects economy to keep improving – CNN Money – – NEW YORK (CNNMoney.com) — The Federal Reserve has a more optimistic outlook for the U.S. economy, according to meeting minutes released Wednesday, but the central bank is still debating how to shrink its massive balance sheet.

Market News

Freddie Mac: Mortgage rates hit yearly low – USA Today – – WASHINGTON (AP) — Mortgage rates fell to the lowest level of the year this week, as rates fell on U.S. government securities. Fixed mortgage rates tend to be influenced by movements in the yield of 10-year Treasury notes.

5/19/2010 Mortgage Purchase Applications Plummet While Refinance Applications Increase in Latest MBA

Weekly Survey » – Mortgage Bankers Association – – Welcome to MBA. The Refinance Index increased 14.5 percent from the previous week and the seasonally adjusted Purchase Index decreased 27.1 percent from one week earlier. This is the lowest Purchase Index observed in the survey since May of 1997.

FBI’s Mortgage Fraud Cases up 400% since 2005 – DSNews.com – – Enter your email to receive Daily Email Updates: Of all frauds perpetrated against financial institutions, mortgage fraud, in particular, has spiked, the Office of Thrift Supervision (OTS) said in a report released this week.

5/19/2010 Delinquencies, Foreclosure Starts Increase in Latest » – Mortgage Bankers Association – – Welcome to MBA. The combined percentage of loans in foreclosure or at least one payment past due was 14.01 percent on a non-seasonally adjusted basis, a decline from 15.02 percent last quarter. 

Technology News

4 students build popular real estate iPhone app – Inman – – Extract not available.

Google TV Unveiled – Wall Street Journal Online – – SAN FRANCISOGoogle Inc. detailed its long-awaited plans for entering the living room, based on software that melds conventional TV programming with content delivered from the Internet.

Other News

Nearly 75% of homes are affordable – CNN Money – – Indianapolis is the most affordable city in the country – a post it’s held for five years. By Les Christie, staff writerMay 20, 2010: 1:03 PM ET NEW YORK (CNNMoney.com) — It’s prime time for house hunters.

Commercial, Multifamily Originations Post Mixed Results in Q1 – DSNews.com – – In the first quarter of 2010, commercial and multifamily mortgage loan originations were 12 percent higher than the same period last year but 26 percent lower than the fourth quarter of 2009, the Mortgage Bankers Association (MBA) reported Tuesday. 

Toll Bros. on a land buying spree – CNN Money – – Companies Economy International The Buzz Street Sweep Corrections Pre-market Trading After-hours Trading US Stocks Bonds and Interest Rates Currencies Commodities Mut ual Funds World Markets Subscribe to Real Money Newsletter Subscribe to Money 

 

 
Half of Owners Think Their Home Value is Up
About half of home owners surveyed by Zillow.com believe the value of their homes declined in the past year, which may actually be a sign of overconfidence.
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Putting Technology to Work to Boost Sales
Be strategic in the tools you use so they free up your time for selling.
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Foreclosures Hit Record High in First Quarter
Despite the bad figures, the problem isn’t getting worse, an analyst says.
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Commercial Real Estate Business Still in Slump
Prices are still heading down, although not by much, according to Moody’s.
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Good News, Tempered By Greece and Oil
Both existing-home sales and pending sales have continued to increase. Home prices also continue to stabilize. The U.S. economy as well is posting positive figures. There was even good news in the jobs market. But in his commentary this month, NAR Chief Economist Lawrence Yun tells us that while improving conditions may help give a boost to consumer confidence, we need to watch out for the fall-out from the Greek crisis as well as the looming and possibly lingering impacts of the Gulf of Mexico oil disaster.
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First-Quarter 2010 Metro Area Home Prices and State Resales
 The latest figures on metropolitan area home prices have been released by NAR and they show that a growing number of metropolitan areas experienced price gains from a year ago. At the same time, most states posted healthy gains in home sales from the first quarter of 2009. Wannasiri Chompoopet, Manager of Existing-Home Sales, reports.
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When Will the Housing Market Rebound?
While the housing market should slowly grow in 2010, two housing experts warn that it will take years until the inventory is line with population demands.
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5 Fixes to Gain More Clients
Here are some quick tips for reaching your audience, converting leads to clients, and keeping customers after the transaction closes.
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Commercial Markets May Turn Around in 2011
The darkest days may be over for commercial, according to NAR Chief Economist Lawrence Yun.
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What Is the FHA’s Post-Recovery Role?
HUD’s Deputy Assistant Secretary of Single-Family Housing Vicki Bott weighs in about the future of the FHA.
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Report: Minorities Need Better Access to Credit
A study by seven nonprofit housing agencies has concluded that the foreclosure crisis has seriously reduced lending in minority communities.
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Mansion Under Contract for Year’s Top Price
An Indonesian man is expected to close on a $50 million estate in Bel Air, Calif., which would be the largest residential sale in the United States for 2010.
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Top News

More move, but not long distance- USA Today – – More Americans moved last year than in the previous year, but most didn’t go far, a sign that foreclosures and housing costs are still keeping people close to home.

States: Let taxpayers cover your mortgage – CNN Money – – NEW YORK (CNNMoney.com) — Unemployed? Owe more on your mortgage than your home is worth? Your state might one day pay your mortgage

Market News

Mortgage rates hit lowest levels of the year – MarketWatch – – Mortgage rates fell to their lowest levels of the year, and rates on 5-year adjustable-rate mortgages hit a record low, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday

5/12/2010 Refinance Applications Surge, Purchase Applications Drop in Latest MBA Weekly Survey »
Mortgage Bankers Association – – Welcome to MBA. The Refinance Index increased 14.8 percent from the previous week and the seasonally adjusted Purchase Index decreased 9.5 percent from one week earlier. 

Home prices fall, but key markets improve – Bankrate.com – – Nationwide home prices were down slightly in the first quarter when compared to the same time last year, according to the National Association of Realtors’ latest quarterly survey. 

Home foreclosure rate posts first annual decline in five years – USA Today – – Foreclosure filings dropped 2% in April from a year ago, the first annual decrease in more than five years, according to a report out Thursday. HOME PRICES: May drop as tax credit expires CHARTS: Housing market’s rise, fall and rebound 

Maryland Governor Signs Power of Sale Law – DSNews.com – – Maryland Gov. Martin O’Malley has signed a new law establishing that a power of sale is valid in existing and future deeds of trust originally granted to a corporate trustee. 

Technology News

Google and Verizon building iPad competitor – Fortune – – McAdam, in an , said that tablets are part of the “next big wave of opportunities,” and that “work on a tablet is part of a deepening relationship between the largest U.S. wireless carrier and Google

Other News

Game Changing Ideas Help Realtors® Respond to Challenging Real Estate Market – REALTOR Magazine – – The National Association of Realtors® has selected 14 winning ideas from its “Game Changers Challenge” to create innovative programs that help Realtor® associations and their members respond to and excel in today’s challenging real estate

Green practices conflict with homeowners association rules – USA Today – – Early last year, Larry Lohrman, a homeowner in Salem, Ore., decided to try to cut his energy consumption by installing solar panels on his roof. He researched the panels, hired an installer and put a down payment on a 3,000-watt solar installation 

Recovery Requires Reshaping the Real Estate Industry, Say Realtors® – REALTOR Magazine – – While the fragile housing market has begun to stabilize, the economy and real estate industry still face many challenges on the way to a full 

 

HVCC Not Going Away Anytime Soon
The Home Valuation Code of Conduct, intended to help ensure appraiser independence, is set to expire on Nov. 1. But that doesn’t mean it will disappear.
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Temporary Bankruptcy Instead of Loan Mods?
The government’s program for helping hard-hit home owners avoid foreclosure could be having the unintended effect of encouraging strategic defaults.
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NAR Pushes Back on Private Transfer Fees
“We are on the front end of this issue,” says Gerry Allen of NAR’s Community and Political Affairs group. “Our goal is to get legislation passed in all 50 states as soon as possible.”
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Protecting Consumer Data Is Serious Business
Most brokers and sales associates say that they’re satisfied with their data security setup, even though most of them have only the most basic safeguards in place.
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More People Living Under One Roof
Household size has continued to grow as multigenerational households become more common. This trend is expected to translate into an excess of housing units.
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Ruling Could Get Condo Buyers off the Hook
A court case in suburban Washington, D.C., could release condo buyers from their obligation to complete a transaction if the developer fails to live up to its promises.
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