Real Estate Disposition Corporation (REDC), the nation’s largest real estate auction company, said yesterday that it has completed the sale of a 50 percent interest in the company to Trident IV, L.
Read More »Foreclosures Up 25 Percent From 2007, RealtyTrac Reports
RealtyTrac released its October 2008 U.S. Foreclosure Market Report today, which shows foreclosure filings — default notices, auction sale notices, and bank repossessions — were reported on 279,561 U.
Read More »HUD Releases Final RESPA Rule
The Department of Housing and Urban Development (HUD) released its final rule under the Real Estate Settlement Procedures Act (RESPA) yesterday to improve disclosures in the home financing process. RESPA, a law originally enacted in 1974, now includes new Good Faith Estimate (GFE) and HUD-1 Settlement Statement forms, which require lenders and mortgage brokers to clearly disclose key loan terms and closing costs.
Read More »Treasury, Fed, FDIC Urge Banks to Start Lending
In its latest attempt to thaw the country’s credit freeze, the U.S. Department of the Treasury, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) issued a joint statement yesterday urging banks to start lending again.
Read More »Webster Bank Suspends Foreclosures
Webster Bank N.A., a subsidiary of Webster Financial Corporation, announced today that it is halting foreclosures for 90 days, becoming the latest bank to expand its mortgage assistance program to keep more families in their homes.
Read More »Craig Long LLC Adds Associate Attorney
Craig Long LLC, a real estate law firm with offices in Cumming and McDonough, Georgia, announced today that Ashley Carroll has joined the firm as an associate attorney. In this role, Carroll will conduct closings and handle other general legal practice matters for the firm’s McDonough office.
Read More »Treasury Scraps Plan to Purchase Troubled Mortgages
U.S. Treasury Secretary Henry Paulson announced this afternoon that the government’s plan to purchase financial institutions’ under-performing mortgages has been put on hold. In fact, based on Paulson’s remarks, it is unlikely that the Treasury will conduct any auctions to purchase bad loans and other troubled assets – the original intention of the $700 billion bailout package.
Read More »Zillow: Home Prices Continue Freefall, One-Third of Properties Sold for a Loss
Home values in the United States posted their seventh consecutive quarterly decline, falling 9.7 percent year-over-year to a Zillow Home Value Index of $202,966, according to the third quarter Zillow Real Estate Market Reports released today.
Read More »eMASON Announces New Team Members, Headquarters Expansion
Florida-based eMASON Inc., a software provider specializing in web-based process automation for the financial services industry, today announced the addition of several key team members, as well as the expansion of its corporate headquarters location.
Read More »Title Insurer Fidelity Acquires Rival LandAmerica
Fidelity National Financial Inc. said late last week that it will acquire title insurer LandAmerica Financial Group Inc. The all-stock deal is valued at about $128 million, in which LandAmerica shareholders will receive 0.
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