1 ) Big news this week as rumors spread like wild fire about an An August Surprise from Obama? Would Fannie and Freddie really be willing to give principle reductions to all underwater home owners? This news caused a tidal wave of bloggers commenting and Tweeting about it. We heard on Friday that the Treasury Department puts kibosh to Fannie/Freddie mortgage debt forgiveness rumors. I can tell you from my experience in over a decade in politics, rumors like this that caused by a story by Reuters just do not happen out of the blue. Where there is that much smoke there is also a fire. Now the administration will likely look at the public reaction to their trial balloon to make a decision.
2 ) It is amazing how much power banks give to BPO’s when they determine what they are going to do with a short sale. BPO Power…..it’s more serious than you think! takes a look at the process and some of its problems.
3 ) Now that mortgage loan originators have become regulated by the Feds, what is next? Could Federal Regulation of Realtors Be Likely?
4 ) The FHA mortgage insurance rate is likely on the way up soon. Both the House and the Senate voted to increase FHA mortgage insurance rate from .055% to 1.55%.
5 ) Anyone who has been in the real estate business full-time for more than six months, has probably heard these 10 Things Realtors Hate to Hear. As always Elizabeth is entertaining.
6 ) Do short refinances really exist? Check out HUD Announces Possible Principal Reduction: The “FHA Short Refinance”.
7 ) The Wall Street Journal top residential real estate agents list has been released. Congrats to all those on the list who are crushing it.
8 ) One growing use of technology is the QR code. Looking for a good way to use these in real estate? Greg Swan has found one as me makes it one click easy to get listing information texted to your phone.
9 ) The mortgage approval process is changing and Your Credit Report Will Be Re-Pulled Just Prior To Closing (And It Could Change Your Loan Terms). Make sure your clients know about this well before closing.
10 ) RE.net lost one of its pioneers this week. Here is what some are saying about the loss of Joe Ferrara:
– In Memory of My Friend, Joe Ferrara
– Joe Ferrara, Real Estate Attorney & Founder of Sellsius Real Estate Passes
– We miss you Joe
– Farewell, Joe…
Note From the Editor: I want to send my condolences to the family of Joe Ferrara, someone who was a friend and trusted resource for the past few years. He will be deeply missed. – Josh Dorkin