Your Copper State Guide to the Desert

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• WaMu failed to heed lesson learned in the '80s

  Twelve years ago, Washington Mutual was on a can't-miss roll. The Seattle-based thrift had made 22 bank buys since 1983 and increased its lead over the competition in mortgage lending in all Northwest states. It was riding high on the commercial success Read More... Posted Wednesday, October 08, 2008 12:11 PM by Laura & Ron Canny | 0 Comments Filed under: Market Conditions, Announcements, Industry, Finances, Community Information

• States settle over Countrywide lending

  California's attorney general today announced a multibillion-dollar settlement over alleged unfair and deceptive lending practices by Countrywide Financial Corp. -- the company was acquired by Bank of America earlier this year. The settlement is expected Read More... Posted Monday, October 06, 2008 5:51 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Announcements, Industry, Finances

• To pass or not to pass the $700 Billion rescue plan?

  TO PASS OR NOT TO PASS? That was indeed the question of the week...and the final answer came on Friday, as the House of Representatives followed the Senate's lead and passed the $700 Billion rescue plan. The week began with the House initially voting Read More... Posted Monday, October 06, 2008 7:59 AM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Events, Finances

• Shopping for a Mortgage? FHA Improvements Benefit You

  Here's all you need to know about FHA Insured Mortgages REALTORS® AND FHA – WORKING TOGETHER TO HELP PEOPLE FULFILL THE AMERICAN DREAM REALTORS ® and the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing Read More... Posted Tuesday, September 30, 2008 4:21 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Finances, Buyer Information

• Deal or no deal?

  DEAL OR NO DEAL? It appears a deal has indeed been struck, as Congressional leaders and the Bush administration announced they had come to an agreement to spend up to $700 Billion on the historic Bailout Plan. But first - a look back at the past week, Read More... Posted Sunday, September 28, 2008 6:01 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Announcements, Industry, Finances, Buyer Information

• Forecast: 'State of shock' hits home

  It wasn't supposed to happen. "Housing prices weren't supposed to decline absent a significant decline in employment, but they have: big time," according to a quarterly economic forecast released today. "Put bluntly, housing consumers Read More... Posted Wednesday, September 24, 2008 3:45 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Industry, Finances

• Dow falls 500 points in worst day since 2001

  NEW YORK - A dramatic makeover of Wall Street sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks. Investors reacted badly to a shakeup of the Read More... Posted Tuesday, September 16, 2008 2:12 PM by Laura & Ron Canny | 0 Comments Filed under: Market Conditions, Announcements, Finances

• 'Frannie' bailout makes money cheaper, not easier

  The government takeover of mortgage financiers Fannie Mae and Freddie Mac could mean lower interest rates for many borrowers but is unlikely to solve one of the biggest problems of the credit crunch: the shrinking number of people who can get a loan in Read More... Posted Tuesday, September 09, 2008 1:31 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Announcements, Industry, Finances

• Fed move on Fannie, Freddie is 'good news'

  Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart held a press conference Sunday to announce that the government had placed Fannie Mae and Freddie Mac under conservatorship. After meetings with the boards of directors Read More... Posted Tuesday, September 09, 2008 1:21 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Announcements, Industry, Finances

• Re/Max CEO Margaret Kelly at NBC Studios today

  Live from the NBC Studios at 30 Rockefeller Plaza in New York… On Tuesday, Aug. 26, RE/MAX International Chief Executive Officer Margaret Kelly is scheduled to appear in the 9 a.m. hour of “The Today Show”. She will discuss two topics, Read More... Posted Tuesday, August 26, 2008 1:32 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Industry, Finances, Buyer Information

• Fannie Mae sweetens loan workouts

  Fannie follows Freddie, boosts workout incentives Fannie Mae has boosted incentives for loan servicers who engage in workouts with troubled borrowers that help them avoid foreclosure, including repayment plans, loan modifications, short sales and deeds-in-lieu Read More... Posted Thursday, August 14, 2008 1:15 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Announcements, Industry, Finances

• HUD: bankrupt Arizona lender violated RESPA

  Payments to brokers, builders run afoul of anti-kickback rules A bankrupt Arizona mortgage lender paid $856,000 in bonuses, marketing fees and "non competition" fees to mortgage brokers, builders and real estate brokerages that referred nearly Read More... Posted Tuesday, August 12, 2008 1:38 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Announcements, Industry, Finances

• Will shopping multiple lenders hurt credit?

  Some mortgage brokers advise against it It's not uncommon for home buyers to talk with several mortgage brokers or lenders to compare loan products and interest rates. One buyer who shopped around was scolded by a mortgage broker when he found out Read More... Posted Monday, August 11, 2008 1:02 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Finances, Buyer Information

• Freddie Mac must raise capital as losses grow

  Government-chartered mortgage financier Freddie Mac posted an $821 million net loss in the second quarter, bringing losses for the last 12 months to nearly $1.6 billion. The news raised concerns that the company will have to raise more capital than the Read More... Posted Wednesday, August 06, 2008 2:52 PM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Industry, Finances

• Mortgage crisis drives home value of PMI

  Borrowers finding loan mods easier when not dealing with two lenders. The blame game for the development of the current mortgage crisis is now in full swing, and, with one exception, no major participant escapes unscathed: Lenders and investment bankers Read More... Posted Monday, August 04, 2008 8:11 AM by Laura & Ron Canny | 0 Comments Filed under: Real Estate, Market Conditions, Industry, Finances