Mon, Nov 15 2010, 9:07 AM
The Federal Reserve Bank of NY reports that Americans are becoming more frugal, maintaining fewer open lines of credit and paying down dept. The ques...
Fri, Nov 12 2010, 12:22 PM
The Mortgage Bankers Association was quick to respond to a suggestion in draft proposal from the Cost-Cutting Commission that the tax code be revamped...
Thu, Nov 11 2010, 2:09 PM
Saying they are already overburdened, eight financial service sector trade groups on Wednesday sent a letter to three regulators asking for a delay in...
Thu, Nov 11 2010, 1:50 PM
"October marks the 20th consecutive month where over 300,000 U.S. homeowners received a foreclosure notice," said James J. Saccacio, chief executive o...
Wed, Nov 10 2010, 3:36 PM
FHA Commissioner David Stevens today released another letter to the industry. This communication focused on two topics. A new FHA loan product aimed a...
Wed, Nov 10 2010, 3:28 PM
The Mortgage Bankers Association has written to federal regulators urging them to be flexible and realistic in writing those regulations under the Dod...
Tue, Nov 9 2010, 2:45 PM
The Department of Housing and Urban Development and the National Association of Realtors have jointly produced three videos to assist potential home b...
Mon, Nov 8 2010, 3:59 PM
The National Association of Realtor, meeting in New Orleans, asked the lending industry to reevaluate credit policies now in place to improve the chan...
Mon, Nov 8 2010, 2:45 PM
The Federal Reserve has released the October 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices. The Senior Loan Officer Survey addres...
Fri, Nov 5 2010, 1:08 PM
Pending home sales retreated after two monthly gains, signaling an uneven recovery entering 2011 with some near-term disruptions from the foreclosure ...
Fri, Nov 5 2010, 1:03 PM
Kansas City Fed president Thomas Hoenig said Friday that the government should rethink its housing policies and subsidies and opt for a new path of re...
Thu, Nov 4 2010, 4:08 PM
Witnesses testifying before the Congressional Oversight Panel on TARP generally gave servicers a low grade for their response to the foreclosure proce...
Tue, Nov 2 2010, 12:38 PM
The Census Bureau has released its survey of Residential Vacancies and Homeownership for the third quarter of 2010.
Fri, Oct 29 2010, 11:53 AM
The plain and simple version of this story is title insurers are nervous about covering foreclosed properties without some sort of guarantee that they...
Fri, Oct 29 2010, 2:56 PM
The recent news coverage has returned many mortgage and MBS-related issues, both real and illusory, to prominence. The initial headlines that stemmed...
Wed, Oct 27 2010, 11:30 AM
"Economic growth in 2010 has been subdued and this trend will likely continue for most of 2011. Households remain cautious given the weak job market. ...
Wed, Oct 27 2010, 3:35 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have jointly released NEW RESIDENTIAL SALES for September 2010.
Wed, Oct 27 2010, 2:46 PM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 22, 2010.
Tue, Oct 26 2010, 10:55 AM
Negativity and uncertainty are abundant and guess whose fault it is? OURS! At least that's the perspective of the outside world. It doesn't matter wha...
Tue, Oct 26 2010, 10:43 AM
FDIC Chairperson Sheila Bair pointed to the robo-signing controversy as just another indication of the need to improve institutional practices all alo...
Tue, Oct 26 2010, 3:32 PM
The administration's October Housing Scorecard released this morning shows that recovery in the housing market remains fragile, with continued foreclo...
Mon, Oct 25 2010, 12:45 PM
U.S. mortgage finance giants Fannie Mae and Freddie Mac are looking to more aggressively move loan workout duties to specialist firms as their frustra...
Mon, Oct 25 2010, 10:03 AM
RTRS-US SEPT EXISTING HOME SALES 4.53 MLN UNIT ANNUAL RATE (CONS 4.30 MLN) VS AUG 4.12 MLN (PRV 4.13 MLN). SEPT EXISTING HOME SALES +10.0 PCT (CONS +...
Mon, Oct 25 2010, 4:26 PM
Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy ...
Mon, Oct 25 2010, 4:19 PM
Federal Reserve Chairman Ben Bernanke departed from the focus of a conference on foreclosures and mortgage financing today to report that the Fed is l...
Fri, Oct 22 2010, 9:50 AM
These include a new product option for FHA’s Home Equity Conversion Mortgage (HECM), changes to our Mortgage Insurance Premiums (MIPs), and new credit...
Fri, Oct 22 2010, 3:43 PM
Using three different scenarios, the FHFA released projections for the additional amounts of taxpayer money that may be required to keep Freddie Mac a...
Thu, Oct 21 2010, 11:12 AM
Two cabinet level departments have announced recipients of $68 million dollars in planning grants for local projects that integrate housing, employmen...
Thu, Oct 21 2010, 9:05 AM
In my experience, in most instances, buyback requests aren't ending favorably for the complaining party unless there was blatant fraud in the loan fil...
Wed, Oct 20 2010, 10:32 AM
Less than 34 months after its official launch, all 50 states have joined the Nationwide Mortgage Licensing System and Registry (NMLS, or the System). ...
Wed, Oct 20 2010, 3:52 PM
Bank of America and GMAC have announced they will be resuming foreclosures but the brief lived moratorium has created its own momentum. There are oth...
Tue, Oct 19 2010, 9:19 AM
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 539,000. This is 5.6 percent (±...
Tue, Oct 19 2010, 7:09 PM
We're all waiting for the dust to settle, it just never seems to dissipate. Hopefully America doesn't turn into Gotham City.In the here and now, all R...
Mon, Oct 18 2010, 2:37 PM
The monthly NAHB/Wells Fargo survey of home builder perceptions improved for the first time in five months. Builders are seeing some increased buyer ...
Mon, Oct 18 2010, 1:09 PM
It's very clear that the Obama Administration doesn't support a 50 state foreclosure moratorium, but I haven't seen them offer up much in terms of a s...
Fri, Oct 15 2010, 3:08 PM
Federal regulators have expanded the list of Community Reinvestment Act approved activities to include educational loans to low-income students and jo...
Thu, Oct 14 2010, 11:02 AM
FDIC Chairperson Sheila Bair told a Washington audience on Tuesday that servicer incentives need to be reformed to encourage loan modifications rather...
Thu, Oct 14 2010, 10:47 AM
"Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog of distressed properties ...
Wed, Oct 13 2010, 12:16 PM
The FHA has requested comment on regulatory changes that will strengthen its ability to force lenders to indemnify or reimburse the FHA for claims ag...
Wed, Oct 13 2010, 10:45 AM
"After five weeks of steadily declining rates to yet another new low, borrowers who had been on the fence jumped off, which factored into refinance ac...
Wed, Oct 13 2010, 3:33 PM
I called attention to the phrase "the servicer must work with counsel". I am not sure if this guidance was intended to be a solution or not. If it ...
Tue, Oct 12 2010, 11:34 AM
One billion dollars in emergency funds will soon be available to help homeowners "bridge" their mortgage payments while they recover from the impact o...
Fri, Oct 8 2010, 11:15 AM
Bank of America, the largest servicer of mortgage loans, has announced it will halt foreclosure sales in all 50 states. While news flashes on trading ...
Thu, Oct 7 2010, 2:01 PM
So far from what I can tell......
This is a procedural loophole. lots of noise surrounding a technicality. But why does no one stop to consider the...
Wed, Oct 6 2010, 10:13 AM
While new upfront MIP requirements lower the cost for borrowers at the closing table, the plain and simple truth is the increase in the annual premium...
Tue, Oct 5 2010, 12:36 PM
Three lenders have now suspended foreclosure and/or evictions in 23 judicial foreclosure states. While this issue started a PR problem, it is growing...
Tue, Oct 5 2010, 2:07 PM
Bank of America Home Loans will exit the first mortgage wholesale channel to focus more operational resources toward fulfillment capacity for its lead...
Mon, Oct 4 2010, 12:22 PM
FYI: Fannie and Freddie have issued policy review directives to seller/servicers on following proper procedure in the foreclosure process.Unfortunatel...
Mon, Oct 4 2010, 1:43 PM
Pending home sales have increased for the second consecutive month, according to the National Association of Realtors®. "Attractive affordability cond...
Fri, Oct 1 2010, 1:17 PM
Judge says GMAC submitted foreclosure affidavit in bad faith, must cover borrower's attorney fees
