Real Estate Headlines 05.14.2013

Did you hear about the loan underwriter who demanded a letter from the borrower’s doctor stating the borrower had been healed and his illness would not come back? How about the underwriter who wanted a verification of employment from the borrower who listed her occupation as “homemaker”?

Yes, things are tough out there. And despite some evidence that lenders are easing up just a tad, in the new world of “prove everything — and prove it twice,” there have been some unusual demands, to say the least.

Loan underwriters make ‘absurd’ demands in effort to verify data ~ LA Times

Zero down mortgages making a comeback? ~ AG Beat

Higher Home Sales with Falling Homeownership Rate ~ NAR

Market Leader being sold to Trulia for more than $300M ~ Seattle Times

Freddie Mac Posts $4.6 Billion Quarterly Profit ~ NY Times