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Freddie Mac in search of CEO, $35 billion

By Matt Carter, Monday, March 2, 2009.

Freddie Mac is looking for a new chief executive officer, and an additional $30 billion to $35 billion in government purchases of the company's preferred stock.

David Moffett, the former U.S. Bancorp executive who was named to lead the company in September after it was placed in government conservatorship, is resigning the job to "return to a role in the financial services sector."  more...

When seller financing goes awry

By Benny Kass, Monday, March 2, 2009.

DEAR BENNY: We carry the first and only mortgage on our married daughter's house, which is approximately $200,000. Without our knowledge they obtained an equity loan on the house for $100,000.

Our son-in-law has since lost his job and we are carrying them on the first mortgage. If he defaults on the equity loan, what effect does this have on us? --Joan  more...

Smart buyers put on reporter's hat

By Dian Hymer, Monday, March 2, 2009.

It's risky to buy a home in an area you know nothing about. Plan to investigate the neighborhood before you buy to make sure you'll like living there.

Buyers who know homeowners in the neighborhood have a ready source of information. Buyers transferring from out of the area face a bigger challenge.

Your future employer can recommend neighborhoods, and may know people living there that you can contact. Subscribing to a local newspaper will give you access to local news and events.  more...

It's time to take up 'tweeting' Premium Content

By Bernice Ross, Monday, March 2, 2009.
Flickr photo by <a href="http://flickr.com/photos/pagedooley/416901865/" target=blank>kevindooley</a>.

Don't want to blog? Would you like an innovative way to reach the next generation of buyers and sellers? If so, it may be time to take up "tweeting" on Twitter.

In case you haven't visited Twitter.com, it would be smart to take a hard look at what this seemingly simple tool can do for your business. On the surface, Twitter looks like a series of unrelated text messages known as "tweets."  more...

Rates head up as title insurance biz booms Premium Content

By Inman News, Monday, March 2, 2009.

After cutting thousands of employees to stem losses in 2008, title insurers have seen a dramatic increase in business in recent months that's largely driven by homeowners rushing to refinance loans to take advantage of low interest rates

As business picks up, First American Corp. and Fidelity National Financial Inc. -- parent companies of underwriters that insure about three quarters of title insurance policies -- have increased or plan to increase rates by up to 20 percent in the states that generate most of their businesses.  more...

Licensing alone won't prevent bad loans

By Jack Guttentag, Monday, March 2, 2009.

"The Associated Press recently ran a story about how the mortgage crisis was leading the federal government and states to tighten licensing and other requirements for operating as a mortgage broker. Will this have a material effect in curbing the abuses that led to the crisis?"

No, because mortgage brokers played only an incidental role in the crisis. Blaming the crisis on brokers makes as little sense as blaming it on greed. Brokers have been with us for decades; greed has been with us forever; and neither suddenly caused a financial crisis.  more...