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FHA changes align appraisal rules Premium Content

By Matt Carter, Friday, September 18, 2009.

The Federal Housing Administration will tighten credit standards and implement new rules for appraisals on Jan. 1, saying a study to be published in November is expected to show FHA's capital reserve ratio slipping below mandated minimums.

FHA's insurance fund is sufficient to cover future losses, Federal Housing Commissioner David H. Stevens said, but the tighter policies will ensure that the loan guarantees remain self-sustaining and continue to be funded by premiums paid by borrowers, not taxpayers.  more...

Tax-credit decision down to the wire

By Inman News, Friday, September 18, 2009.

Sen. Johnny Isakson -- a former real estate broker known for taking up industry causes -- has signed onto a bill that would extend, but not expand, the current $8,000 tax credit for first-time homebuyers, which is set to expire Nov. 30.

Isakson, a Georgia Republican, had previously introduced a bill that would more than double the tax credit's ceiling to $15,000, and expand the pool of those eligible to claim it by lifting first-time homebuyer and income restrictions.  more...

Refi boom a bonanza for lenders

By Inman News, Friday, September 18, 2009.

The refinancing boom helped independent mortgage lenders boost profits from $148 per loan at the tail end of last year to $1,088 per loan in the first three months of 2009, the Mortgage Bankers Association said.

Refinancings made up 66 percent of mortgage originations during the first quarter, compared with 42 percent in the fourth quarter of 2008, according to an MBA report measuring the performance of independent mortgage bankers and subsidiaries of banks, thrifts and hedge funds.  more...

'Leading RE' network gets tech suite

By Inman News, Friday, September 18, 2009.

Market Leader, an online marketing company for real estate professionals, has entered into an agreement to offer its RealtyGenerator technology platform to the more than 600 real estate companies comprising the Leading Real Estate Companies of the World.  more...

Title insurers back in black

By Inman News, Friday, September 18, 2009.

The refinancing boom and rising home sales during the second quarter helped slow shrinkage of title insurance premiums, which nonetheless registered their 13th consecutive quarter of year-over-year declines.

The title insurance industry generated $2.55 billion in premiums during the second quarter, down 8.1 percent from the $2.77 billion in policies written during same period a year ago, the American Land Title Association reported.  more...

Mortgage rates fall again

By Inman News, Friday, September 18, 2009.

Long-term mortgage rates fell for the third week in a row, with 15-year fixed-rate loans hitting a new record low and the 30-year fixed-rate hovering at just above 5 percent, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) averaged 5.04 percent -- with an average 0.7 point -- for the week ending Sept. 17, Freddie Mac said, down from 5.07 percent last week and 5.78 percent a year ago.  more...

LendingTree settles with vendor

By Inman News, Friday, September 18, 2009.

LendingTree has reached a settlement with a vendor it alleged was working with Google to provide online offers from mortgage lenders, dropping a lawsuit that sought a temporary restraining order and preliminary injunction to halt the venture.

The settlement is confidential, and neither LendingTree nor the vendor it sued, Mortech Inc., is saying much about it.  more...

Review 1: RealtyTrac Premium Content

By Inman News, Friday, September 18, 2009.

Your name: Deb Agliano (DebOnTheWeb)

Name of product: RealtyTrac.com 7-day free trial

1. Ease. Is it easy to use for real estate professionals? For real estate consumers? How steep is the learning curve?

--Strengths (250 words or less):  more...

Review 2: RealtyTrac Premium Content

By Inman News, Friday, September 18, 2009. Your name: Anita S. Crum

 

Name of product: RealtyTrac.com 7-day free trial

1. Ease. Is it easy to use for real estate professionals? For real estate consumers? How steep is the learning curve?  more...

Review 3: RealtyTrac

By Inman News, Friday, September 18, 2009.

Your name: Mark Bergman

Name of product: RealtyTrac.com 7-day free trial

1. Ease. Is it easy to use for real estate professionals? For real estate consumers? How steep is the learning curve?

--Strengths (250 words or less):  more...

Product Review: RealtyTrac Premium Content

By Inman News, Friday, September 18, 2009.
RealtyTrac screenshot

Product: RealtyTrac.com seven-day free trial.

About: RealtyTrac, an online real estate site, offers information on more than 1.5 million properties and attracts about 3 million unique monthly visitors. The company's data has been used by several government agencies to aid in evaluating foreclosure trends, and RealtyTrac also supplies data through partnerships with a range of real estate Web sites, including Yahoo Real Estate and The Wall Street Journal's Real Estate Journal. The company was founded in 1996.  more...