A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of June 2010 shows some encouraging news; there are signs that the foreclosure and mortgage delinquency rates are stabilizing, albeit at very elevated levels.

Highlights from the report..

Continue reading... Foreclosure and Mortgage Delinquency Rates Stabilizing

1. Delinquent Home Mortgages 21.3 Percent Higher Than Last Year; Foreclosure Rates at Record High Dennis Norman A report published by Lender Processing Services (LPS)...
2. US Foreclosure Rate and Mortgage Delinquency Rate Continues to Rise Dennis Norman A report released by First American CoreLogic shows...
3. Mortgage Delinquencies Increase In May; 1 in 8 Borrowers At Risk of Losing Home Dennis Norman Homeowners’ mortgage delinquency rates increased in May 2.3...

The U.S. Department of Housing and Urban Development (HUD) announced Friday that a HUD Administrative Law Judge has ordered an Iowa landlord to pay $52,150 in damages and civil penalties for retaliating against a single mother of three by threatening to evict her because she

Continue reading... Judge Orders Iowa Landlord to Pay $52,150 To Resolve Discrimination Case

1. DOJ Files Discrimination Lawsuit against Property Manager and Owner in Missouri The Justice Department announced it has filed a lawsuit today...
2. Justice Department Resolves Lawsuit Alleging Disability-Based Housing Discrimination in Davenport, Iowa The Justice Department today announced a settlement of a lawsuit...
3. Orange City Landlord and Property Manager Pay $415,000 to Settle Discrimination Suit The Justice Department today announced that landlord James Stevens, his...

By now most real estate agents and brokers have probably heard about the changes to RESPA (Real Estate Settlement Procedures Act) that went into effect at the beginning of this year.  One thing that has been a frequent topic of conversation among agents is whether or not they will still be able to

Continue reading... New RESPA Rules Prohibit Home Warranty Referral Fees to Agents

1. HUD Publishes New FAQs on new RESPA rules Dennis Norman By: Dennis Norman New RESPA rules go into...
2. Appeals Court Rules Builder Incentive did not violate RESPA Dennis Norman The United States Court of Appeals for...
3. Buyers Agents Beware – You May Not Be Able To Sue Seller for Commission Dennis Norman Last month the Missouri Court of Appeals handed...

Ronald Harris Jr., 40, of West Orange, N.J.; Sterling

Continue reading... Three in New Jersey Arrested and Charged in Foreclosure Rescue Scheme

1. Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme Department of Justice Press Release Scam Involved Lawyers, Mortgage...
2. Four Broward and Palm Beach Residents Charged in Multi-Million-Dollar Mortgage Fraud Scheme Defendants Include a Mortgage Broker and Loan Processor This week...
3. Six Charged with Wire Fraud Based on $20 Million Mortgage Fraud Scheme A 10-count indictment has been unsealed charging six individuals with...

Back in January I did a post about FHA’s decision to temporarily (until February 1, 2011 if not revoked earlier) waive their “anti-flipping” rule, thereby allowing homes to be resold with FHA-insured financing even if the sale took place within 90 days of the selling acquiring the property. There were, of course,

Continue reading... FHA Looking For Input On Anti-Flipping Rule Waiver Conditions

1. FHA Waives Anti-Flipping Rule Dennis Norman In an effort to “stabilize home values and...
2. California REALTORS Push Legislation To Extend Anti-Deficiency Protection for Homeowners Dennis Norman California typically marches to the beat of it’s...
3. Help for homeowners facing foreclosure or are underwater Dennis Norman Back in early December I did a post...

Last month the Missouri Court of Appeals handed down a decision on a case that caught my attention.  The case, Deer Run Properties, L.L.C. vs. Keys To The Lake Lodging, Co. L.L.C., stemmed from the sale of some condominiums and involved a commission claim by a buyers agent.

According to the court records, Deer

Continue reading... Buyers Agents Beware – You May Not Be Able To Sue Seller for Commission

1. Real Estate Agents and brokers eligible for SBA loans Charles McMillan 2009 President, NAR By: Dennis Norman In response...
2. Do Real Estate Agents and Brokers Know The Value of a Home? Dennis Norman “Generally speaking, real estate agents and brokers are...
3. Help for homeowners facing foreclosure or are underwater Dennis Norman Back in early December I did a post...

California typically marches to the beat of it’s own drum, as I discovered last year when I did a post on the Mortgage Forgiveness Act only to find out that the State of California was not following suit, as most states were, and forgiving homeowners of their state income taxes on forgiven debt.

Continue reading... California REALTORS Push Legislation To Extend Anti-Deficiency Protection for Homeowners

1. FHA Offers Alternative For Underwater Homeowners Dennis Norman Last week HUD announced changes to FHA home...
2. Help for homeowners facing foreclosure or are underwater Dennis Norman Back in early December I did a post...
3. FHA Looking For Input On Anti-Flipping Rule Waiver Conditions Dennis Norman Back in January I did a post about...

Continue reading... Miami Beach Hotel Developers Charged with Conspiring to Defraud United States

1. More Legal Woes for Consolidated MLS Dennis Norman In August 2009 there was a final judgment...
2. FBI ‘Operation Bad Deeds’ results in 41 defendants charged in Mortgage Fraud Takedown Department of Justice Press Release PREET BHARARA, the United...
3. Accountant and Realtor Plead Guilty to Mortgage Fraud WASHINGTON – Dennis G. Sartain of Hilliard, Ohio; and...

Every facet of the apartment industry was touched by the Great Recession in 2009, according to the NMHC 50, the National Multi Housing Council’s annual ranking of the 50 largest apartment owners and the 50 largest apartment managers.

“Apartment sales transaction volume plummeted,” noted Mark Obrinsky, NMHC Chief Economist. “Only $14 billion in properties

Continue reading... ‘Great Recession’ Challenges Apartment Industry

1. Property managers; fair housing laws protect people with disabilities too Dennis Norman By: Dennis Norman When we speak of discrimination...
2. Justice Department Files Lawsuit Alleging Racial Discrimination at Ann Arbor, Michigan, Apartment Complex The Justice Department today filed a lawsuit against the owner...
3. Wells Fargo Was Top U.S. Commercial/Multifamily Originator in 2009 According to MBA Dennis Norman Wells Fargo Bank was the top commercial/multifamily originator...

“Generally speaking, real estate agents and brokers are not independent or properly trained valuation specialists.”  This was said in a letter from several appraiser organizations that was sent to Treasury Secretary Timothy Geithner last week.  The letter, not actually signed by anyone, but instead just bearing the names of the following four appraiser

Continue reading... Do Real Estate Agents and Brokers Know The Value of a Home?

1. Real Estate Agents and brokers eligible for SBA loans Charles McMillan 2009 President, NAR By: Dennis Norman In response...
2. Green building information and resources for real estate agents and brokers Dennis Norman As green building gains in popularity and...
3. NAR asks SBA to make real estate agents eligible Charles McMillan 2009 President, NAR By: Dennis Norman National Association...