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BUSINESS
January 13, 2010 | By E. Scott Reckard
Government officials have subpoenaed documents from 15 lenders whose Federal Housing Administration-backed loans have high default rates, including a failed Missouri bank that was owned by an Orange County financial firm. Many of the FHA-backed loans issued by the lenders went bad almost immediately, said Kenneth M. Donohue, inspector general for the Department of Housing and Urban Development, which includes the FHA. At a news conference Tuesday, he called the action a review that was not yet an investigation.
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BUSINESS
January 24, 2010 | By Scott Marshutz
After spending 20 years of decorating huge multimillion-dollar homes, interior designer Ann Fraser decided it was time to apply her design expertise to her own home. She tore down a 1950s single-level home in the Newport Heights area of Newport Beach and in its place built a two-story that looks like a centuries-old plantation-style estate. Features that give it an aged look are numerous. Iron railings enclose an expansive balcony where Mexican pavers were installed upside down to make them look older.
BUSINESS
December 18, 2009 | By Alejandro Lazo
California home prices and sales showed steady improvement during the typically slow month of November, fresh data released Thursday showed, with the San Francisco area outpacing Southern California. The state's median home price in November was $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. The statewide year-over-year increase was the first since July 2007. The increase reflected an overall improvement in the housing market, with fewer foreclosures making up the total mix of homes for resale and an overall bounce back from the severely depressed prices seen in 2008, according to MDA DataQuick, a San Diego research firm that closely tracks California's housing market.
BUSINESS
November 25, 2009 | By Alejandro Lazo and Tiffany Hsu
U.S. home prices rose in September for the fifth month in a row, a closely watched national index showed Tuesday, but the scant improvement suggests that the nascent housing recovery may be fading after a summer's worth of steady gains. Brisk sales fueled by low interest rates, inexpensive properties and a popular tax credit for first-time buyers helped bolster home prices in the summer. Now the resiliency of that rebound is a matter of debate among economists and housing analysts.
BUSINESS
February 14, 2010 | By Kenneth R. Harney
With all the bad news about underwater homeowners and strategic walkaways, you might think that U.S. homeowners' equity holdings are continuing to slide. But a little-publicized recent statistic on real estate is that home equity is again on the rise. Is that some piece of rosy propaganda put out by housing lobbyists to stimulate more home buying? Not unless you consider Federal Reserve economists to be shills for the real estate industry. The Fed conducts massive ongoing research into mortgage balances and home-value changes in hundreds of local markets around the country, and reports its findings quarterly.
BUSINESS
March 7, 2010
Newly built in Cheviot Hills Location: 10285 Kilrenney Ave., Los Angeles 90064 Size: Five bedrooms and five bathrooms in 3,962 square feet Published on: Sept. 6 Listed then for: $2.9 million Sold for: $2.59 million last month Brentwood contemporary Location: 171 3rd Anita Ave., Los Angeles 90049 Size: Five bedrooms and seven bathrooms in 6,354 square feet Published on: May 31 Listed then for: $6.85 million Sold for: $4,320,800 last month -- Lauren Beale
BUSINESS
January 17, 2010
1557 Park Vista Way, No. 32, West Covina 91791 Listed for: $748,888 Size: Four bedrooms and three bathrooms in 2,362 square feet Lot size: 0.23 acre (9,969 square feet) Features: Built in 2009, the two-story house sits on a cul-de-sac and has a living-room fireplace, a deck, a balcony and a two-car garage. MLS ID: T09101655 2111 E. Casa Linda Drive, West Covina 91791 Listed for: $585,000 Size: Four bedrooms and three bathrooms in 1,898 square feet Lot size: 0.32 acre (14,070 square feet)
BUSINESS
October 18, 2009 | By Kenneth R. Harney
With Americans' credit scores plunging after record numbers of mortgage and credit card delinquencies, companies that promise quick fixes -- eliminating negative information in credit bureau files -- are proliferating, federal officials say. The pitches are especially attractive to home buyers and mortgage applicants because they offer a way to raise credit scores enough to get loan applications accepted, and even qualify for lower interest rates....
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