Wednesday, April 13, 2011

Two Stories: Fed sees economic improvement, Fed releases mortgage lender enforcement actions

by Bill McBride on 4/13/2011 02:32:00 PM

• Fed's Beige Book:

Reports from the twelve Federal Reserve Districts indicated that economic activity generally continued to improve since the last report. While many Districts described the improvements as only moderate, most Districts stated that gains were widespread across sectors, and Kansas City described its economic gains as solid.
On Real Estate:
Real estate markets for single family homes for the most part either were little changed from low levels or continued to weaken across all Districts. ...

Commercial real estate activity remained weak across all Districts, although seven reported slight improvements since their last report.
• From the Fed: Federal Reserve issues enforcement actions related to deficient practices in residential mortgage loan servicing and foreclosure processing. This includes LPS and MERS.