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09/29/2006 Regulators tighten guidelines for 'exotic' mortgages
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Federal banking regulators today published new guidelines for banks to follow when originating and underwriting "nontraditional" or "exotic" mortgages that carry potential payment shock for borrowers.
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09/29/2006 Housing is 'gorilla' in economic slowdown
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Long-term interest rates and commodities are in the natural rebound upward following any straight-line decline.
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09/29/2006 Overpricing: a common fault of today's home sellers
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Handling the matter of pricing is like handling a porcupine. It should be done very carefully. Often agents are faced with the challenge of feeling like they need to win a popularity contest to get the listing, and at the same time bring a sometimes-harsh reality about market value to the seller's attention. A good pricing suggestion is built on a solid foundation of the market's current facts and figures because ultimately the market's opinion of value carries more weight than yours or the sellers.
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09/29/2006 FBI: Suspicious loan activity up in Southern California
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Southern California is on track to see twice as many reports of potential mortgage fraud cases in 2006 as last year, according to a Los Angeles Times report based on FBI figures.
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09/29/2006 First American Title grows in Kansas
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First American Title Insurance has acquired Winfield, Kan.-based Barbour Title Co., which offers title insurance, escrow closings and contract escrows to residents of Kansas' Cowley and Sumner counties.
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09/29/2006 Countrywide sues over Indiana mortgage fraud operation
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An Indianapolis man allegedly tricked dozens of Virginia residents into buying homes in Indiana at inflated prices as part of an elaborate mortgage fraud scheme, Countrywide Financial Corp. claims in a lawsuit.
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09/29/2006 East Coast real estate slowdown escalates
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The real estate slowdown along the East Coast continued in August, as markets in Virginia and Massachusetts endured plummeting sales and sinking prices, according to Realtor associations in both states.
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09/29/2006 The media call
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I have worked in media long enough that I think I'm pretty immune to it: I know that the difference between who appears in a newspaper and who doesn't is a matter of connections and timing. Sometimes it's sheer luck that a story appears at the same time as a news hole. That broker down the street who gets more press than you may be a better broker; she may be more knowledgeable; or she may just have a better publicist.
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09/29/2006 Job market forecast: gloomy
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A key indicator that measures job offerings in major U.S. newspapers dropped for the second straight month in August, as businesses faced lower sales and rising costs, the Conference Board reported Thursday.
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09/29/2006 PNC selling $2 billion in home loans
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PNC Financial Services Group Inc. will sell or securitize $2 billion in residential mortgage loans and replace them with other residential loans with higher yields.
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