Real estate news update: 5-19

Written by Federal Title | 19 May 2010

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

New credit screening could delay closings
Washington Post: The June 1 changes are part of a new effort by mortgage giant Fannie Mae to cut down on slipshod underwriting by lenders and fraud by borrowers.
For some brokers, location is all relative
The New York Times: These agents sometimes have to be a little more creative, a little hungrier and far more persistent, especially in a sluggish real estate market.
Groundbreaking for new Bethesda home of NRC
DC Mud: The new government building is expected to take 27 months to build and will join LCOR's residential project, Wentworth House, which delivered in 2008. 		Mortgage mods doomed by back-end debt
CNBC: The top four lenders (Bank of America, JP Morgan Chase, Wells Fargo and CitiMortgage) convert less than 26 percent of trial mods to permanent mods.
The statistic behind a mortgage meltdown
Housing Wire: As complex as statistics may be, the bottom line in any mortgage-led structured financial derivative comes back to one very simple concept: prepayments.
FHA will reduce allowable seller concessions by summer
Calculated Risk: Under changes set to take effect May 20, the FHA will stop certifying mortgage brokers or tracking the individual performance of loans that they originate.

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Headlines compiled by Strategic Research.

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