June 2010 RCDs
A digest of recent court cases affecting real estate.
Read MoreTag: TIC
February 2010 RCD
A digest of recent court cases affecting real estate.
Read MoreH.R. 4173 and the failed homeownership cramdown amendment
This article explores the failure of Congress to grant bankruptcy courts the authority to save homeowners from foreclosure.
Read MoreFebruary Forms
Get your buyer the best financial advantage – Submit multiple loan applications and compare
Read MoreThe shrinking California inventory: not quite a weathervane
California’s supply of previously-owned single family residences (SFRs) sank to a five-year low of 3.8 months in January 2010, down from 5.8 months a year ago. When compared to the January 2008 supply of 16.6 months, this...
Read MoreThe year of the investor
Statewide, 41,837 homes were sold in December, up 16.7% from November, and up 10.6% from one year ago. 22,328 of these homes were sold in Southern California (So Cal), up 16.4% from November, and up 12.1% from one year ago. The...
Read MoreNew steps regarding new licensing requirements for mortgage brokers
Effective January 1, 2010, any Mortgage Loan Broker (MLB) who makes, arranges or services residential or commercial mortgage loan secured by real estate in California must report to the Department of Real Estate (DRE) prior to...
Read MoreReduced FHA standards will encourage speculator interference in the market
In the past, the Federal Housing Administration (FHA) has traditionally refused to insure mortgages on homes resold within 90 days. This rule discouraged “flipping” of property by speculators who sandwich themselves between...
Read MoreHUD’s new GFE
An updated version of the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate (GFE) and Settlement Statement (HUD-1) was released by the Department of Housing and Urban Development (HUD) for use in 2010. RESPA...
Read MoreJanuary 2010 Rates
91-Day Treasury Bill – Average Auction Rate Week Ending 01/21/10 0.04% Month Ago 12/24/09 0.05% Year Ago 01/22/09 0.14% Determines the minimum interest rate the seller must impute in a delayed §1031 transaction and report when...
Read MoreCome tour the foreclosure freak show – a speculator’s paradise
The Florida city of Cape Coral has fallen far from its luster at the height of the real estate bubble. Now the only bright spot in the city’s house market is the blazing green bus that can been seen driving around giving tours...
Read MoreCramdowns, cramdowns, cramdowns!
The New York Times reports housing prices in the U.S. flatlined in October, 2009 despite low mortgage rates and a homebuyer’s tax credit. These incentives, which should have been powerful enough to continually prop up national...
Read MoreDecember 2009 California foreclosure activity
December foreclosure activity in California commenced by recording a Notice of Default (NOD) dropped 32.5% on a daily average from the preceding month of November, as reported by Foreclosure Radar. This drop is attributable in...
Read MoreFederal government: give up the comedy routine and get to work
The Making Home Affordable program created by the current administrated has made matters worse for homeowners and the economy. Homeowners have been dragged along with lender’s extend-and-pretend temporary loan modifications,...
Read MoreThe delinquent release of the risk-based pricing notice
In the past, when a loan applicant did not have sufficient or strong enough credit to borrow, his loan was denied. However, lenders and their Wall Street investment bankers saw the potential for profit in simply charging...
Read MoreNationwide Mortgage Licensing System Consumer Access to be available January 25, 2010
The Nationwide Mortgage Licensing System (NMLS) Consumer Access website will launch on January 25, 2010, giving borrowers access to their mortgage originators’ licensing and employment records. The fully-searchable list will be...
Read MoreWhat’s good enough for the goose…
In a recent speech, Mortgage Bankers Association (MBA) president and chief executive officer John Courson urged homeowners to make the responsible, moral decision and keep paying on their underwater mortgages. Like many...
Read MoreThe post-Bubble bump: Speculation or resuscitation?
Statewide, 35, 860 homes were sold in November, down 13.1% from October, but up 11.5% from one year ago. 19,181 of these homes were sold in Southern California (So Cal), down 13.3% from October, but up 14.7% from one year ago....
Read MoreFannie Mae reveals owner-occupant preferential program
Fannie Mae unveiled its First Look program for buyer-occupants. It is designed to give potential buyer-occupants of real estate owned (REO) resale properties priority over all other types of buyers during the first 15 days the...
Read MoreHomebuyer beware: the real estate game lacks fair play
This article classifies participants in the real estate market, differentiating beneficial real estate participants from those that are harmful.
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