Real Estate News – March 29, 2011

Flush with cash, health care real estate investment trusts (REITs) have been on a buying binge over the past six months, gobbling up nearly $27 billion worth of seniors housing. Industry observers expect more deals to be announced soon as the REITs bet that an improving economy will boost property returns (via NREIOnline.com): http://bit.ly/huEc8b

A White Bear Township board member admitted to a $2 million scheme involving the “flipping” of an Orono home in a plea that immediately forced him to abandon his elected post (via StarTribune.com): http://bit.ly/gT8MZ5

8 Bills to Chip Away at Fannie, Freddie (via REALTORMag): http://bit.ly/gHH9rs

Authorities are investigating an Ankeny, Iowa, couple who–after only making one mortgage payment–were able to save their home from foreclosure and have their mortgage voided by using a loophole in a 100-year-old state law (via REALTORMag): http://bit.ly/e8uuia

Federal regulators, seeking to outlaw a leading cause of the financial crisis, voted on Tuesday to propose new rules that would prohibit Wall Street banks from selling packages of risky mortgages to investors without holding onto a stake in the loans (via NYTimes.com): http://nyti.ms/dQMOjH