Real Estate News – April 6, 2011

The country’s top mortgage servicers have reportedly reached an agreement on changes to their foreclosure procedures (via REALTORMag):

Adzookie, a startup advertising firm, has an unusual proposition to home owners: The company wants to turn the exterior of their house into a massive billboard. Of course, they don’t expect home owners to do this for free. Adzookie says it will pay home owners’ mortgage every month that the exterior billboard remains on the home (via REALTORMag):

Jurors at the federal courthouse in Alexandria, Va., continue to hear testimony at the $2 billion fraud trial of the former majority owner of what had been one of the nation’s largest private mortgage companies (via

New rules took affect today that make significant changes to the way mortgage loan officers get paid. A judge in Washington yesterday ordered that a temporary stay that was in place since last Friday to be dissolved. The decision means that rules that were supposed to take effect on April 1, are now in place (via

Applications for government-backed mortgages soared this week as borrowers tried to secure a loan before FHA premium hikes set in, the Mortgage Bankers Association reports (via REALTORMag):