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Info below published in the US weekly MBA newsletter
Economy & Business: Delinquencies
Washington Post (02/09/10) P. A11
While the rest of the private loan market seems to be stabilizing, Fitch Ratings reports that delinquencies on prime "jumbo" mortgages nearly tripled last year and continued to climb in 2010. January -- when 9.6 percent of big loans not backed by government agencies were 60 days or more late -- marked the 32nd consecutive month of growth in "serious delinquencies," according to the ratings firm.
Real estate association’s rules challenged by federal competition watchdog
The Canadian Press
OTTAWA — The Competition Bureau says it’s challenging rules imposed by the Canadian Real Estate Association, a body that represents more than 98,000 real estate brokers, agents and salespeople.
The federal agency says the association’s rules limit choices for consumers and force them to pay for services they don’t want, also stifling innovation in the market for residential real estate services.
The Competition Bureau is challenging association rules imposed on agents who list properties on the association’s Multiple Listing Service, also known as MLS.
The agency says most real estate transactions in Canada make use of the MLS system, which includes information available only to association members.
But under association rules, according to the Competition Bureau, agents are forbidden from offering consumers the option of simply paying a fee to list a home on MLS.
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