Real Estate News – March 10, 2011

Bank of America Corp., the biggest U.S. lender, is a “very active seller” of commercial real estate as the firm seeks to limit losses on assets accumulated through acquisitions, Chief Risk Officer Bruce Thompson said (via

The number of foreclosure notices filed in February declined 14 percent compared with last month, and foreclosure notices dropped 27 percent compared to last year at this time. That marks the largest year-over-year decline that RealtyTrac, a foreclosure tracking site, has ever recorded (via REALTORMag):

Foreclosures of Minnesota homes dropped by 29.6 percent in February compared to the same period a year earlier, according to the same RealtyTrac report:

The White House is threatening to veto any Republican bill that would end an administration-backed program that helps underwater home owners refinance their homes (via REALTORMag):

Former Subprime Lender Runs Key HAMP Program (via