August 21, 2013
HUD Takes a "Wait and See" Approach on Eminent Domain
The Wall Street Journal | Aug. 16, 2013
Despite acknowledging general concerns, Obama administration officials said it's too soon for them to weigh into a messy debate between bondholders and community groups over the use of eminent domain to forcibly purchase and restructure underwater mortgages. Elliot Mincberg, a top official at the Department of Housing and Urban Development, responded earlier this week to three California lawmakers who had asked the agency to clarify its views on the proposed use of eminent domain by cities to write-down mortgages. The City of Richmond, Calif., has said that it will use the powers of eminent domain to acquire some 624 mortgages on which the homes are worth less than the loan balance.
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Fannie Mae, Freddie Mac Delaying Write-offs of Delinquent Mortgages
Los Angeles Times | Aug. 20, 2013
Record profits from bailed-out Fannie Mae and Freddie Mac have helped reduce the federal budget deficit and put off an increase in the nation's debt limit, but a new government report raises questions about how the mortgage finance giants are accounting for future losses. The two companies, which were seized by the government in 2008, have been avoiding billions of dollars in potential long-term losses by delaying a requirement that they write off more of the delinquent mortgages they own or back, according to the inspector general for the Federal Housing Finance Agency, which oversees the firms.
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TLTA Live Webinar: Divorce and the Real Estate Process
Wednesday, Sept. 18 | 10:30 - 11:30 a.m.
Divorce is sometimes the unfortunate ending of what starts with so much hope, promise and dreams, including the dream of home ownership. This webinar examines the difficult subject of divorce from a practical perspective, focusing on issues the title professional can expect when closing transactions where divorce is an issue.
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A Challenge to All Escrow Officers!
The TLTAPAC Board of Trustees has issued a challenge this year to every escrow officer in the state to contribute to the TLTAPAC. The voluntary, non-partisan organization is exclusively dedicated to promoting the Texas land title insurance industry to members of the Texas Legislature and other elected officials. With almost 6,000 escrow officers currently licensed in Texas, a $25 contribution from each would raise $150,000 for the PAC from escrow officers alone! Please donate online today here or send a personal check payable to the TLTAPAC with this form.