Thursday, March 11, 2010
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Below are excerpts of some of the industry specific news which are updated daily.  NAMFS is committed to providing our membership with this timely information so be sure to log in for access to the complete articles.

  
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3/11/2010 10:07 AM
Fewer US homes for sale experienced listing price reductions this month, according to online real estate market Trulia.com. It’s further indication of a leveling out in listing price declines amid government stimulus to buy homes. A new low of 19% of listings currently on the market experienced a price cut as of March 1, 2010, based [...]


3/11/2010 12:01 AM
US foreclosure filings in February remained 6% above the level in 2009, despite dropping 2% from January, according to the real estate data provider RealtyTrac. More than 308,000 homes – or one in every 418 – received a foreclosure filing in February, which includes default notices, scheduled auctions and bank repossessions. James Saccacio, CEO of RealtyTrac, said [...]


3/10/2010 6:13 PM
Of all homebuyers in California in 2009, 47% were first-time homebuyers, up from 35.9% in 2008, according to a report from the California Association of Realtors (CAR). And while new blood entered the market, real estate owned (REO) and short sales made up half of the assets sold in the state. It’s the highest share of [...]


3/10/2010 4:49 PM
GMAC Financial Services announced in a regulatory filing yesterday that chief financial officer (CFO) Robert Hull “elected to depart” the company, effective at the end of March. The news of his resignation arrives after GMAC mortgage operations subsidiary Residential Capital (ResCap) said last week it is addressing credit-rating agency “concerns” over the servicing of certain mortgage [...]


3/10/2010 3:39 PM
There is a close-to-truth joke currently circulating around the HousingWire newsroom. Spoiler alert: It’s not funny. OK, stop me if you’ve heard this before: A spaceship lands in the States during the last quarter of 2007 and the alien aboard demands, “take me to your leader, the one who leads your mortgage markets.” Everyone responds by pointing [...]

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