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Welcome to DealWire, the weekly
eletter from DoublePositive. The DealWire is packed with breaking
industry news, comprehensive sales tips, deals on LIVE Hot Transfers
and much more. Our goal is to help provide you with the tools and
insight you need to expand your marketing portfolio and transform
your business.
Please let me know if you have any questions.
Have a great day.
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Ahhh, spring is
in the air - check out the view of a spring morning from our new office. The flowers are starting to bloom,
and here in the Baltimore area, Cherry Blossoms are in full force.
But the tulips may not be the only thing coming out of hibernation.
As I check out the housing market, I see some several interesting
things happening. Real Estate brokers across the country are now
tepidly reporting that houses are staying on the market for shorter
periods of time and that pricing is finally starting to normalize.
In fact, we have a co-worker that put up his house for sale in the
beginning of March and now is working with two competing offers on
his home. Perhaps this is a stabilization rather than a recovery.
Who knows? As long as its heading in the right direction, that's a
great start.
At the same time it looks like the stock prices
of some our friends (or not) over at Fannie and Freddie have jumped
over 5% as of late. Others have also followed suit with IndyMac,
among others, jumping more than 7.5%. All these signs are good. No
one said this mess would be fixed over night, but there definitely
is a pulse. Now that the finance guys are trying to work their magic
and fix this, the government is right on point with their attempt to
find the one person responsible for this whole mess.
The
Justice Department has been called in to investigate "potential
criminal wrongdoing in the mortgage lending and securitization
industry". I don't know what's going to come out of that but I guess
they have to try to make the public feel better. Oh well, I am off
to see some Cherry Blossoms. Give me a call or shoot me an email if
you want to chat.
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Just a
reminder...SATURDAYS ARE BACK!
Set your own hours and
name-you-price for LIVE Hot Transfers on Saturdays. Great price
opportunities and even better sales opportunities happen for the
weekend warriors. Contact us now to get setup. |
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Reuters |
| While the data
says "no end in sight" for the housing crisis, real estate agents
are beginning to see signs of life among people looking for homes to
buy around the United States. It's too early to talk of a trend, but
lower house prices and mortgage rates are bringing buyers out of
hibernation, at least in some markets. Provided sellers are prepared
to cut prices, buyers are willing to bid, real estate agents say. Full Story |
CNBC |
| "Closing Bell"
host Maria Bartiromo spoke with two mortgage brokers from regions
with high home prices. They said forget Fannie and Freddie -- FHA
loans are becoming the way to go for their customers. Why? Mitchell
Ohlbaum, president of Los Angeles-based Legend Mortgage, said the
only plus for Fannie and Freddie is the higher limit -- up to
$729,500. After that it's all downhill. Full Story
|
MarketWatch |
| Sen. John
McCain, the presumptive Republican nominee for president, called on
Thursday for an "immediate" Justice Department probe to investigate
what he called "potential criminal wrongdoing in the mortgage
lending and securitization industry." Full Story |
Forbes |
| Shares of
mortgage lenders spiked in intraday trading Wednesday after data
showed the number of mortgage applications rose last week, helped
mostly by homeowners looking to refinance. The Mortgage Bankers
Association said application volume rose 2.5 percent in the week
ended April 11. About half of that jump was due to refinance
applications. Full Story |
Associated Press |
| Democrats in
Congress and President Bush will agree on a bill to help half a
million or more strapped homeowners get into lower cost mortgages,
but it won't be through the bankruptcy courts, the chairman of the
House Financial Services Committee said Tuesday. Full Story |
Wall
Street Journal |
| In its annual
report to Congress on the two shareholder-owned but
government-chartered companies, the Office of Federal Housing
Enterprise Oversight cited "matters requiring attention," including
Freddie Mac's internal controls and corporate governance. Ofheo also
pointed to Fannie Mae's strategy for managing interest-rate risk,
which it described as "somewhat aggressive in light of higher and
increasing credit-related losses." Full Story |
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