Attorneys’ Title Guaranty Fund, Inc. – Underwriters’ Bulletin Casenotes – March 2014 | Volume 7 – Number 3

In re Application of the County Treasurer (IL) Summary: Tax purchaser must provide a correct section 22-5 notice with expiration for the period of redemption. The statute prohibits the time period to end on a weekend or holiday. Failure to satisfy the precise notice requirements will result in an invalid notice.   In re Application … More Attorneys’ Title Guaranty Fund, Inc. – Underwriters’ Bulletin Casenotes – March 2014 | Volume 7 – Number 3

Survey: Small Banks Frustrated by Dodd-Frank Author: Colin Robins March 20, 2014

The results of a recent small-bank survey found small banks are facing rising compliance costs, and finding it harder to serve customers, due to the new regulations from the Dodd-Frank Wall Street Reform and Consumer Protection Act.   The study was published through the Mercatus Center, a university-based research center at George Mason University.   … More Survey: Small Banks Frustrated by Dodd-Frank Author: Colin Robins March 20, 2014

5 Things You Need to Know About Home Equity Loans Published March 06, 2014 Credit.com

Home equity lending is making something of a comeback. After being nearly shut down with the collapse of housing prices during the Great Recession, lenders are once again opening up their wallets and allowing people to borrow against the value of their homes.  Newly originated home equity loans and lines of credit rose by nearly … More 5 Things You Need to Know About Home Equity Loans Published March 06, 2014 Credit.com

Senate easily passes flood insurance fix bill By Jeremy Wallace , Herald-Tribune / Thursday, March 13, 2014

It took nearly six months, but Congress on Thursday finally passed a bill to undo the mess lawmakers made of the federal flood insurance program by imposing sharply higher premiums for thousands of property owners across the country and Florida, threatening the state’s tenuous housing market. By a 72-22 vote, the U.S. Senate passed what … More Senate easily passes flood insurance fix bill By Jeremy Wallace , Herald-Tribune / Thursday, March 13, 2014

$63.1 Million Awarded to Stave Off Foreclosures Author: Colin Robins March 19, 2014

NeighborWorks America announced Tuesday in a press release that $63.1 million had been awarded to 29 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 67 community-based NeighborWorks organizations. The money, provided through the National Foreclosure Mitigation Counseling (NFMC) program, is earmarked for counseling to families and individuals facing the threat of foreclosure. The organization notes … More $63.1 Million Awarded to Stave Off Foreclosures Author: Colin Robins March 19, 2014

Midwest Reflects National Cold Weather Woes Author: Colin Robins March 14, 2014

Sales of residential homes in the seven-county metro of Chicago followed a pattern similar to January: rising prices, but the pace of sales slow when compared to the same month last year. According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales … More Midwest Reflects National Cold Weather Woes Author: Colin Robins March 14, 2014

Foreclosures Drop 10 Percent in February Thu, 2014-03-13 17:12 — NationalMortgage Professional

RealtyTrac released its U.S. Foreclosure Market Report for February 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 112,498 U.S. properties in February, a 10 percent decrease from January and down 27 percent from February 2013 to the lowest monthly total since December 2006 — a more … More Foreclosures Drop 10 Percent in February Thu, 2014-03-13 17:12 — NationalMortgage Professional

Total Foreclosures Fall; ‘Zombie Foreclosures’ Pose Challenges Author: Colin Robins March 12, 2014

Foreclosure filings are down to record lows, but a more sinister-sounding problem may be on the rise—”zombie foreclosures.” RealtyTrac released its U.S. Foreclosure Market Report for February, reporting that foreclosure filings (default notices, schedule auctions, and bank repossessions) were 112,498, down 10 percent from January and down 27 percent from the previous year. Foreclosure filings … More Total Foreclosures Fall; ‘Zombie Foreclosures’ Pose Challenges Author: Colin Robins March 12, 2014

Lawmakers revisit Michigan foreclosure rules by NBC25 Newsroom Posted: 03.10.2014 at 7:46 AM

LANSING (AP) — Legislation to rewrite or clarify recent changes in Michigan’s foreclosure rules has taken a step forward. The bill approved 107-3 by the House last week retains main elements of a law signed last summer by Governor Rick Snyder, including taking away someone’s right to save his or her property if an inspector … More Lawmakers revisit Michigan foreclosure rules by NBC25 Newsroom Posted: 03.10.2014 at 7:46 AM

Why Jumbo Mortgages Are So Cheap January 20, 2014 By Peter Miller, Contributor

Jumbo mortgages — gigantic loans which historically have been much-more expensive than FHA, VA and conventional financing — are selling at a discount. In fact, at the start of December elephantine loans were cheaper than conventional mortgages. Jumbo  borrowers are no longer paying a premium for their huge loans and you have to wonder, how … More Why Jumbo Mortgages Are So Cheap January 20, 2014 By Peter Miller, Contributor