New York dentist indicted in $1.36 million real estate loan scheme

A Staten Island, N.Y., dentist and a former employee were indicted in New Jersey federal court for allegedly operating a scheme to fraudulently obtain $1.36 million in mortgages.

Terrance D.  more...

North Carolina real estate scammers halted

Owners of a North Carolina real estate company that sold mobile homes and lots without clear titles have been asked to stop the practice and pay off deeds of trust and back taxes on the properties, officials said.

A court found that Terri Hart and Jean S.  more...

Missouri title insurance company president, wife commit suicide

A former president of a Missouri title company and his wife died of self-inflicted gunshot wounds Sunday at their home, media reports said Wednesday.

Title insurance company president Thomas Kurzenberger Sr., 65, and his wife, Andrea Kurzenberger, 62, died of self-inflicted gunshot wounds Sunday at their home in Eureka, authorities told the St. Louis, Mo., Post-Dispatch.

Kurzenberger Sr. founded Title Insurers Agency Inc.  more...

Realtor group opposes Wal-Mart Bank application

Thomas M. Stevens, president for the National Association of Realtors trade group, testified this week in opposition to an application by mega-retailer Wal-Mart Stores Inc. to form Wal-Mart Bank.

Stevens stated, "When commercial firms are allowed to engage in banking, the bank functions under an inherent conflict of interest. We cannot afford to open the door to actions that threaten the safety and soundness of the banking system."

Approval of this application by the Federal Deposit Insurance Corp.  more...

Real estate loan application volume drops

Mortgage loan application volume was down for the week ending April 7, and long-term interest rates edged higher, according to the Mortgage Bankers Association's latest weekly survey.

The market composite index, a measure of mortgage loan application volume, was 579.4, down 5.5 percent on a seasonally adjusted basis from 612.8 one week earlier, the MBA reported.  more...

Weichert expands franchise in Florida

Weichert Real Estate Affiliates, the franchise arm of Weichert, Realtors, announced the openings of six more franchise offices in Florida, to bring the total number of signed affiliated Weichert offices there to 74. The new affiliates are located in Naples and Tampa on the Gulf Coast and in Jacksonville and Miami Beach on the East Coast. 

The new Weichert affiliates are:

--Weichert, Realtors - Aventa Real Estate, Tampa, Fla. President and Broker of Record Omar M.  more...

Overnight real estate rates hold steady

Long-term mortgage interest rates remained the same on Tuesday, and the benchmark 10-year Treasury bond yield decreased to 4.92 percent.

The 30-year fixed-rate average was unchanged at 6.07 percent, and the 15-year fixed-rate remained at 5.76 percent. The 1-year adjustable decreased slightly to 5.19 percent.

The 30-year Treasury bond yield decreased to 5 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Colorado lawmakers ponder meth lab disclosure bill

A bill requiring home sellers to disclose if their property has been used as a methamphetamine laboratory and giving purchasers the right to sue for damages is making its way through the Colorado legislature.

State Senate Bill 06-002, sponsored by Sen. Brandon Shaffer, says that a buyer has the right to test the property using a certified industrial hygienist to see if it has been used as a meth lab.  more...