News Brief - Rainbow Assurance, Inc.

MARS RULES IMPACT REAL ESTATE PROFESSIONALS
The Federal Trade Commission (“FTC”) has issued a final rule that
may impact real estate professionals who represent clients involved
in a short sale transaction. Depending on certain factors, the rules
may require real estate professionals to make certain disclosures
to consumers if they negotiate a short sale with a lender, advertise
short sales experience, or take upfront fees from short sale sellers.
To view the MARS rules in their entirety:
http://www.ftc.gov/os/fedreg/2010/december/R911003mars.pdf

FREDDIE MAC IMPLORES MORTGAGE SERVICERS TO
REACH BORROWERS EARLY
In February, Freddie announced it will use a new scorecard to
measure how its mortgage servicers perform beginning in the third
quarter. The change is part of a wider revamp of how Freddie will
manage its 1,400 servicing companies and monitor how they put
troubled mortgages through the loss mitigation process.
By Jon Prior, 3/09/2011
To read the full article please visit:
http://www.housingwire.com/2011/03/09/freddiemac-
implores-mortgage-servicers-to-reach-borrowers-early

FHFA EXTENDS HARP FOR ONE YEAR
The Federal Housing Finance Agency said Friday (3/11) it extended
its Home Affordable Refinance Program for one year. HARP was
set to expire June 30, but with the extension, it will expire June 30,
2012.
By Jon Prior, 3/09/2011
To read the full article please visit:
http://www.housingwire.com/2011/03/11/fhfa-extends-harp-for-one-year

BEIGE BOOK SUMMARY REPORT
Each Federal Reserve Bank gathers anecdotal information on
current economic conditions in its District through reports from
Bank and Branch directors and interviews with key business
contacts, economists, market experts, and other sources.
Commonly known as the Beige Book, an overall summary of the
twelve district reports is prepared by a designated Federal Reserve
Bank on a rotating basis.
To view the current report please visit:
http://www.federalreserve.gov/FOMC/BeigeBook
/2011/20110302/default.htm

HOUSEHOLD WORTH UP $2.1 TRILLION: A POSITIVE
FOR THE MORTGAGE MARKET
Americans are beginning to gain ground against the worst
recession in recent history as more and more economic indicators
point to recovery. A new study from the Federal Reserve says
household net worth in the U.S. soared $2.1 trillion during the last
three months of 2010.
Carrie Bay, DS News, 3/11/2011
To read the full article please visit: http://www.dsnews.com/articles/household-worthincreases-
21-trillion-positive-for-mortgage-market-2011-03-11

TWO MORTGAGE TRADE GROUPS SUING FED OVER
LOAN ORIGINATOR COMPENSATION
Claiming the Federal Reserve is turning a blind eye to unintended
consequences from the implementation of new regulation on loan
originator compensation, two mortgage industry trade associations
have filed suit against the central bank.
By Jason Philyaw, 3/10/2011
To read the article in full please visit: http://www.housingwire.com/2011/03/10/twomortgage-
trade-groups-suing-fed-over-loan-originator-compensation

First American Title Insurance Company
New Jersey offices-
Marlton: (856) 810-0909
Freehold: (732) 462-6442

First American Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions.

Rainbow Assurance, Inc. - A New Hope, Bucks County real estate title and escrow company