MortgageHeadlineNews.com | Mortgage News, Rates, and Information

money.cnn.com

• Green homes face a red light
  Lots of people, especially those trying to battle high utility bills, believe in energy-efficient homebuilding.
• Can't make your mortgage? Get an emergency loan
  Erin and Robert Smith had no problem handling the $2,000 monthly payment on their home ... until they lost their jobs.
• Cashing in on the condo bust
  Great bargains abound, but you have to shop carefully.
• A plan to save commercial real estate
  Economists have long been predicting commercial real estate could be the next day of reckoning for the financial markets, with a wave of defaults looming as billions of dollars in troubled loans come…
• Rush Limbaugh wants $14 million for his NYC penthouse
  Conservative radio host Rush Limbaugh is saying adios to the Big Apple and selling his Fifth Avenue penthouse, asking almost $14 million.
• Nab a real estate deal - while you still can
  If you've been holding off on a real estate purchase, glimmers of a turnaround in the housing market may have you wondering if it's finally time to make your move.
• Fannie to U.S.: We need another $15.3 billion
  Battered by the housing crisis, mortgage finance company Fannie Mae said Friday that it needs another $15.3 billion in bailout money from the federal government.
• Existing home sales drop
  Sales of existing homes unexpectedly fell in January, according to an industry report published Friday.
• Mortgage servicers offer aid plan for jobless
  The Mortgage Bankers Association proposed a forbearance program Wednesday aimed at helping the unemployed pay their mortgages for up to nine months.
• Duck! Watch out for falling home prices
  Despite signs that the real estate market might be lurching forward, prices are expected to fall further this year.

• New home sales fall to a record low
  Sales of new homes plunged in January to the lowest level on record, government figures showed Wednesday.
• Nearly 25% of all mortgages are underwater
  More bad news on the housing bust front: Nearly 25% of all mortgage borrowers were underwater, meaning they more on their loans than their homes are worth.
• Home prices fall another 2.5%
  Home prices fell just 2.5% during the last three month of 2009 compared with the fourth quarter of 2008, according to a closely watched gauge of home price movement. That was a big improvement over th…
• The boy who cried housing recovery!
  Lowe's reported a better-than-expected profit for the fourth quarter on Monday, and the nation's second-largest home-improvement retailer indicated that 2010 would be a better year for the housing mar…
• $1.5 billion in housing help coming to 5 states
  Under pressure to do more for troubled homeowners, President Obama is expected to announce on Friday a $1.5 billion program to help borrowers in the five states hit hardest by the housing crisis.
• Late FHA loans spike 62%
  The recent spike in the number of delinquent Federal Housing Administration-insured loans has some people worried that taxpayers will eventually have to bail the agency out.
• Is the mortgage market starting to heal?
  The mortgage market may have begun to turn: Fewer borrowers fell behind on their payments during the last three months of 2009.
• Your landlord got foreclosed. Do you have to go?
  Renting a home that is going through foreclosure? If so, don't be fooled: Lenders can't kick you out; they have to honor the terms of your lease.
• America's most overvalued cities
  Don't say we didn't warn you.
• Foreclosures: How bad is your state?
  

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news.search.yahoo.com

• Bay State Mortgage Rates Decline From A Week Ago (Banker & Tradesman)
  The average rate for a 30-year fixed mortgage in the state dropped to 4.79 percent last week, down from 4.9 percent the prior week, according to online mortgage tracker Zillow.
• Firm starts mortgage reward scheme (Channel 4)
  Property services group Countrywide has launched a new reward scheme for mortgage customers. The group believes it is the first company in the property industry to give people who take out a mortgage…
• U.S. MBA Mortgage Applications Index Rose 0.5% Last Week (Bloomberg)
  March 10 (Bloomberg) -- Mortgage applications in the U.S. rose for a second week, led by an increase in purchases that may indicate the renewal of a homebuyer tax credit is starting to invigorate dema…
• Club Kalua owners charged with mortgage fraud (AP via Yahoo! Finance)
  The mother and son owners of the defunct strip club made infamous by the shooting of Sean Bell have been charged in a mortgage fraud case in Queens.
• Airport watch for former mortgage broker (The Australian)
  AN airport alert has been issued after one of the nation's biggest former mortgage brokers, who is under investigation, left the country.
• Former Rock pitchman launches mortgage company of his own (Detroit Free Press)
  Best known for years as the pitchman of Rock Financial before a falling-out with his boss, Dan Gilbert, David Hall has launched a mortgage company in Birmingham called Hall Financial.
• Owners of strip club where Sean Bell was killed nabbed in $2M mortgage fraud scam (New York Daily News)
  THE MOTHER-AND-SON owners of the strip club where Sean Bell was killed were nabbed yesterday in a $2 million mortgage fraud scam.
• U.S. indicts Md. man in mortgage fraud (UPI)
  GREENBELT, Md., March 9 (UPI) -- Authorities Tuesday arrested a Maryland man in what the Department of Justice called a massive mortgage fraud scheme that left victims homeless.
• Mortgage 'Half' Payments: How Much Do They Save? (The Christian Science Monitor)
  One frequent question I’m often asked is whether or not paying half of a mortgage payment twice a month versus paying a full mortgage payment once a month is actually worthwhile.
• Fannie Mae Mortgage-Bond Spreads Fall to Record: Credit Markets (Bloomberg)
  March 9 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates fell to the lowest relative to Treasuries on record, even as the scheduled end of Federa…

topix.com

• Northern Rock's losses shrink in 2009
  Nationalised UK mortgage lender Northern Rock's headline losses shrank in 2009, helped by rising net interest income and lower loan losses in the second half, though it said loan writedowns would stay…
• Consumer confidence holds steady: survey
  The Reserve Bank of Australia's decision to raise interest rates in this month has failed to dent consumer confidence, a report says.
• Phones top Ore. AG complaint list
  Consumer complaints to the Oregon attorney general's office jumped 13 percent last year, with phone companies leading the list for the fourth straight year.
• Bank of America ends overdraft fees on debit cards
  By EILEEN AJ CONNELLY, AP Personal Finance Writer NEW YORK -- Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards.
• Commercial and multi-family loans show signs of strength
  While speculation over an impending commercial crisis has abounded, Mortgage Bankers Association data released today shows that commercial and multi-family mortgages nationwide had the lowest charge-o…
• Lawsuit: Bank wrongly repossessed home, took bird
  A Pittsburgh-area woman is suing Bank of America, claiming it wrongfully repossessed her home and saying that a bank contractor trashed the house and took her parrot.
• Majestic Star mortgages may be invalid
  The creditors' committee for Majestic Star Casino LLC constructed a theory where secured lenders didn't properly perfect liens on the two riverboat casinos in Indiana.
• Mich. faces growing home mortgage default woes
  Thousands of Michigan residents who owe more on their mortgages than their homes are worth are walking away from their homes, and their mortgages.
• Centerline Capital restructures debt
  NEW YORK - Centerline Capital Group said Monday it has completed a series of deals that allows the real estate asset management firm to substantially restructure its outstanding debt.
• More Canadians plan to buy a new home by 2012, says RBC study
  A new study by the Royal Bank suggests more Canadians are very likely to buy a new home in the next two years.

• Housing starts rise 6.1% in February
  Home construction rose by a more-than-expected 6.1 per cent to 196,700 units in February, Canada Mortgage and Housing Corp.
• Farkas all set to buy Centerline Holding Co: report
  U.S. real estate investor Andrew Farkas is all set to buy Centerline Holding Co, a provider of real estate financial and asset management services, by investing $100 million in equity in the company,…
• Economists see Fed rate hike in 6 months
  Most U.S. business economists expect the Federal Reserve to raise benchmark interest rates within six months by between a quarter and a half percentage point, according to a survey released on Monday.
• 4 ways to fixing our financial flaws
  Kiplinger interviewed Robert Pozen, chairman of mutual fund company MFS Investment Management and the author of Too Big to Save? How to Fix the U.S. Financial System .
• Volcker Says Too Early to Withdraw U.S. Monetary, Fiscal Stimulus Measures
  White House adviser Paul Volcker said it's too soon for U.S. policy makers to withdraw the stimulus measures and interest-rate cuts used to fight the worst slump since the Great Depression.
• Leader of Mortgage Fraud Group Pleads Guilty to RICO Charges
  The leader of a corrupt enterprise that defrauded mortgage lenders out of more than 100 properties, resulting in a loss of at least $20 million, pleaded guilty Friday.
• FDIC sells $1.81 billion of notes backed by mortgages
  The Federal Deposit Insurance Corp. sold $1.81 billion of debt backed by mortgage securities, as it seeks to raise cash after the worst financial crisis since the Great Depression.
• Renasant Corp. nominates board member
  Financial services holding company Renasant Corp. said Friday it has nominated real estate executive Jill Deer to its corporate and bank boards.
• Hong Kong expecting strong economic growth in 2010
  This year's Hong Kong Government Budget proposes a series of measures to consolidate its economic recovery from the global financial crisis, and develop its economy.
• San Jose man gets prison in mortgage fraud
  Federal prosecutors say a San Jose man has been sentenced to prison and ordered to pay $3.5 million in restitution for a mortgage loan fraud scheme he ran for several years.

[ more posts from topix.com ]

mortgagenewsdaily.com

• Underwriters: Loan Quality Still in Need of Improvement; Interesting FICO Score Data; Will the Fed sell their MBS Holdings?
  Posted To: Pipeline PressAt the last company Christmas party, loan agents lined up on one side of the room and the underwriters on the other side. The loan agents throw fire cracker at the underwriter…
• MBS OPEN: Rates Ticking Higher Just Because They Can
  Posted To: MBS CommentaryGood Morning. I've had some great coaches in my lifetime...none better than my high school/juniors hockey skipper. Many of the messages he bestowed upon me have carried over f…
• The Day Ahead: Inventories, Budget Statement, Treasury Auction
  Posted To: MND NewsWireInvestors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afternoon’s budget statemen…
• Explaining The MBS Settlement Process
  Posted To: MBS Commentary10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as wel…
• Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
  Posted To: MND NewsWireCommercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios…
• HUD Enforcing Job Creation Requirements for State and Local Governments
  Posted To: MND NewsWireThe Department of Housing and Urban Development (HUD) has released the results of the first stage of its increased oversight and enforcement of job creation requirements under S…
• MBS AFTERNOON: Potential Reprices For The Better
  Posted To: MBS CommentaryMBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly like…
• Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News
  Posted To: The Garrett Watts ReportWe commented last week how a lot of people didn’t know what HSBC stood for... If you go back to when they bought a bank in Buffalo, New York to established themsel…
• MBS LUNCH: 3 Year Note Auction Results And Reaction
  Posted To: MBS CommentaryImmediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day,…
• MBS MORNING: Fed President Reminds About Labor Market Weakness
  Posted To: MBS CommentaryI am kinda bummed no one laughed at my Kathy Ireland reference in MBS OPEN . Her dress was so tight you could see her liver processing the booze (that's a rumor). I suppose I…

• Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat
  Posted To: Mortgage Rate WatchAfter last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices…
• Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
  Posted To: Pipeline PressOften I start the commentary off saying something witty, but I couldn't think of anything clever so I thought I'd suggest you take a look at this video about, of all things, s…
• MBS OPEN: Flight to Quality in Light Trading Volume
  Posted To: MBS CommentaryGood Morning. Happy Standardized Test Tuesday! My nephew has Maryland School Assessment tests today, we were pre-gaming this morning. I remember those days pretty well...mostl…
• The Day Ahead: Stocks Dip on Sovereign Debt Fears Abroad. Treasuries Get Flight to Quality
  Posted To: MND NewsWireEquity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 point…
• MBS CLOSE: Strong Vs. Treasuries, But Lackluster Day All Around
  Posted To: MBS CommentaryNo material change since 10:30AM MBS 4.5's unchanged on the day at 101-07 10yr note 4bps higher on the day to 3.72 Stocks were up, down, up, closed flat No data tomorrow eithe…
• MBA: Servicing Specialists Should Not be Required to Obtain SAFE Act Licensing
  Posted To: MND NewsWireThe Mortgage Bankers Association (MBA), American Bankers Association (ABA), and the American Financial Services Association (AFSA) joined with 11 state and local mortgage lendin…
• GSEs: Long Term Rates Again Below 5 Percent
  Posted To: MND NewsWireMortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's P…
• MBS AFTERNOON: Extremely Quiet Day Winding Down
  Posted To: MBS Commentaryridiculously flat trading in MBS and Tsy's low volume, sparse data calendar, looking toward auctions Did we mention flat trading? You'll rarely see MBS and Treasuries trade th…
• HVCC is Here to Stay. Any Chance for Improvements to the Process?
  Posted To: The Garrett Watts ReportOur FOCIS –plus study has a section on Home Value Code of Conduct (HVCC) compliance. Warehouse lenders in particular are interested in whether a mortgage company h…
• MBS LUNCH: Support Found at Mid-Range Marks. Preparing for More Debt Supply
  Posted To: MBS CommentaryDid anyone happen to catch Saturday Night Live this weekend? Alan, the lovable moron from "The Hangover" was the host. I suppose I should share his real name too: Zach Galifia…
• The Ultimate Solution for the Appraisal Industry
  Posted To: Community CommentarySince the inception of the Home Valuation Code of Conduct (HVCC) in May 2009, there has been much discussion, and misinformation, about the benefits and harm caused by t…
• Mortgage Rates Hold Near Best Levels of 2010 as Benchmark Yields Rise
  Posted To: Mortgage Rate WatchI described last week as a roller coaster ride for mortgage rates. A busy schedule of economic data provided much of the motivation for movement in the rates marketplace…
• Credit Unions Expanding Loan Production; Ready for Buybacks?; Lender Rating Model; FHA Approval News; Four More Bank Failures
  Posted To: Pipeline PressWhen I was a kid, I used to pray every night for a new bike. Then I realized that God doesn't work that way. So instead I stole a bike and asked Him to forgive me. Neither str…
• MBS MORNING: Benchmark Rates Higher in Quiet Trading Environment
  Posted To: MBS CommentaryGood Morning. Happy Monday. I don't know what the weather was like this weekend where you live, but here in the DC/Baltimore metro area we finally had a change of pace from sn…
• The Week Ahead: Treasury Auctions Highlight Slow Econ Calendar Until Friday
  Posted To: MND NewsWireEquity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1…

[ more posts from mortgagenewsdaily.com ]

imfpubs.com

• Mortgage Market at a Glance
  Weekly mortgage rates and application survey data as well as indexes for ARMs.
• Large Mortgage Servicier Delinquency Rates
  With the addition of more servicer data, the Inside Mortgage Finance Large Servicer Delinquency Index shows a significant increase in overall default rates in late 2009. The revised index, covering $6…
• HUD Drafts New RESPA Rule
  The Office of Management and Budget is reviewing a proposed rule that would revise the definition of “required use” under Real Estate Estate Settlement Procedures Act regulations. The Department of…
• Fannie Mae Reports Strong Net Interest Income, But Losses Continue to Mount for Struggling GSE
  Fannie Mae and Freddie Mac may be losing money at unfathomable rates, but one piece of their business – the one most reformists want to do away with – actually was more profitable in 2009 than it ha…
• FDIC Works on Principal Forgiveness Option for Underwater Borrowers
  The Federal Deposit Insurance Corp. is developing a program to reduce the principal owed by underwater borrowers whose loans were held by banks and thrifts that have gone insolvent. FDIC Chairman Shei…
• Dodd-Corker Proposal to Entrust Fed with Consumer Protection Draws Mixed Reviews, Revives Ill Feelings
  A plan proposed by Sen. Chris Dodd, D-CT, this week to house consumer protection in the Federal Reserve rather than in the Department of the Treasury as he initially planned is getting mixed reviews a…
• Freddie Drops IO Program
  Freddie Mac this week said it will stop buying interest-only loans in September. “Our decision to stop purchasing all interest-only type mortgages – through all flow and bulk purchase paths – and t…
• Fannie Launches Initiative to Focus on Origination Practices as Buyback Demands Continue Climbing
  Citing lessons learned from the dramatic increase in loan repurchases it has forced lenders to make, Fannie Mae launched a new Loan Quality Initiative to bolster loan production practices. The initiat…
• Mortgage Repurchases, Indemnifications Soared to Record Levels in Late 2009
  Commercial banks reported a hefty $18.85 billion in mortgage repurchases and indemnifications during the fourth quarter of 2009, according to a new analysis of call report data by Inside Mortgage Prof…
• Agency Production Still Dominates 2009 Mortgage Lending; ARMs Rebound But Home-Equity Slumps
  The breakdown in mortgage lending activity in 2009 looked a lot like the market’s profile in 2008, with an even more intense focus on the agency-conforming sector. A new Inside Mortgage Finance ranki…

• MBS & ABS Issuance at a Glance
  One page of issuance data.
• Bond Market Participants Gain Access to Much More Data as SIFMA, FINRA Upgrade Reporting Abilities
  Individual and institutional investors can get free price data for roughly 25,000 federal agency bonds through an upgraded Web site, www.investinginbonds.com, maintained by the Securities Industry and…
• Foreclosure Bubble Expands as Loss Mitigation Efforts Lead to Rising Problem Loan Inventory
  Loss mitigation is supposed to find cheaper alternatives to foreclosure, but industry experts are concerned that increasingly aggressive efforts by mortgage servicers are stretching out liquidation ti…
• Rising Non-Agency OTTI, Credit Expenses Help Put Another Hole in the Hull of the USS Fannie Mae
  Fannie Mae reported a leap in other-than-temporary impairment charges for its non-agency MBS holdings during the fourth quarter as the government-sponsored enterprise lost $15.2 billion during the per…
• Amid the Din and Furor of Consumer Protection, Industry Works Quietly on Risk Retention Provision
  Although a lot of the focus in the Senate’s on-again-off-again negotiations over financial services regulatory reform has been on how the final package will address consumer protection, the MBS and A…
• More Prime Jumbo Deals Arising, But Sector is Still in ‘Exploratory’ Phase
  A widely-anticipated mortgage securitization by the Federal Deposit Insurance Corp. could help build some momentum in the non-agency MBS market, as industry observers say a number of issuers have sket…
• Mortgage, Asset Securitization Volume Subdued In Early 2010, But Pace Still Ahead of Last Year
  New issuance of mortgage- and asset-backed securities in the first two months of 2010 was well above the depressed pace set by the market early last year, but production volume has eased slightly from…
• Subprime Volume Indicators and ABX Prices
  A half page of subprime data.
• News Briefs
  Two subsidiaries of American International Group agreed to pay a minimum of... CitiMortgage will likely sign up for the second lien portion of the Home... Moody’s Investors Service this week placed $…
• FDIC’s MBS Proposal Met with Dire Warnings
  A proposal by the Federal Deposit Insurance Corp. addressing securitization activity by insured banks could halt any possible recovery of the non-agency mortgage-backed security market, according to i…
• Federal Government Targets Negative Equity
  The Treasury Department is looking beyond the Home Affordable Modification Program to help borrowers with negative equity. Meanwhile, the Federal Deposit Insurance Corp. is considering testing a negat…
• Going Up: Subprime Delinquencies, HAMP Gripes
  The subprime delinquency rate increased again in the fourth quarter of 2009. While the Mortgage Bankers Association projects that the rate will plateau soon, it will not necessarily be due to the Home…
• Legal Implications Hinder Servicers’ Facebook Use
  Servicers must be careful when contacting delinquent borrowers via social networking Web sites such as Facebook, according to industry lawyers. “The concern is that it is not always obvious what is a…
• Steps Taken Toward Non-Agency MBS Issuance
  The non-agency mortgage-backed security market looks to be awakening from its slumber with help from the Federal Deposit Insurance Corp. and separate jumbo activity. Investors this week began bidding…
• CFPA Negotiations Continue in Senate
  Senators continued to debate specifics of the proposed Consumer Financial Protection Agency this week, with an emphasis on which federal agency would house the CFPA. A proposal by Sen. Chris Dodd, D-C…
• Ocwen Looks for Growth and ‘Self-Serve’ Servicing
  With implementation of the Home Affordable Modification Program complete, Ocwen Financial Corp. is looking to grow its portfolio and “self-serve” servicing options. The specialty servicer this week…
• GSE IO Activity Decreased Significantly In 2009; Freddie to Discontinue Completely
  Fannie Mae and Freddie Mac significantly curtailed their purchases and securitization of interest-only mortgages in recent years, according to a new analysis by Inside B&C Lending. Freddie’s recent a…
• States See FHA Increase, Less Broker Use
  Every state saw a significant increase in FHA lending in 2009, but lenders decreased their use of mortgage brokers, a trend which could continue in 2010 as the Department of Housing and Development in…
• FHA Briefs
  Ted Tozer was sworn in last week as the president of Ginnie Mae, where he will be tasked with ensuring Ginnie safely guarantees the principal and interest payments on mortgage-backed securities backed…
• FHA Rate Assumption an Option, Not Widely Used
  One somewhat hidden benefit to FHA loans is that the mortgage is assumable, meaning an FHA borrower who re-sells a house when interest rates are higher can offer a potential buyer the right to assume…
• HUD Ironing Out FHA-HAMP Incentive Payments
  The FHA’s version of the Obama administration’s Home Affordable Modification Program has been underway for several months, but the Department of Housing and Urban Development is still trying to fina…
• Secondary Market Delivery Could Give H4H Life
  While many mortgage market participants are waiting for the Department of Housing and Urban Development to again fix the HOPE for Homeowners program, one company is trying to take the matter into its…
• January Applications Fall From Tighter Standards
  The number of applications for FHA-insured mortgages dropped dramatically in the first month of 2010, which the Department of Housing and Urban Development attributed to inclement weather and tighter…
• FHA Delinquency Still Raising Eyebrows
  While the FHA delinquency rates are at record highs, government data on the cure rates of those delinquent loans show that the problem may not be as pressing as some observers think. As the Department…
• CRA Ratings
  Recent CRA Ratings issued by federal agencies.
• Worth Noting …
  CitiMortgage, as manager for the California Public Employees Retirement System (CalPERS) Member Home... Ted Tozer was sworn in Feb. 24 as president of Ginnie Mae. Prior to his new position... The Mort…
• Federal Roundup
  Revised HMDA Exam Procedures. The OCC has changed its Home Mortgage Disclosure Act examination... Loan Correspondent Renewal. The Federal Housing Administration is extending the deadline... HARP Exten…
• State Roundup
  CSBS/AARMR. The Multistate Mortgage Committee of the Conference of State Bank Supervisors... Illinois. State Attorney General Lisa Madigan sued two mortgage brokers for their... Florida. Administrativ…
• AIG Subs Settle with FFETF to Resolve Biased Lending Charges
  Two subsidiaries of American International Group have agreed to pay $6.1 million to the government to settle allegations of discriminatory pricing against African American borrowers. AIG Federal Savin…
• HUD Sends Proposed ‘Required Use’ Rule to OMB for Clearance
  The Office of Management and Budget is reviewing a proposed rule from the Department of Housing and Urban Development addressing the revised definition of “required use.” Submitted Feb. 26, the prop…
• Senate Negotiators Continue Talks On Consumer Protection Location
  Senate lawmakers continued to negotiate after efforts to craft an alternative to an independent Consumer Financial Protection Agency hit another brick wall last week. A proposal drafted by Sens Christ…
• Risk Retention Concerns Remain High Despite Focus on CFPA
  Lobbying for changes to the risk-retention requirements embedded in Sen. Chris Dodd’s draft regulatory reform legislation continues despite the bigger focus on where consumer protection will end up i…
• Revamped RESPA Rule Increases Litigation Risk, Attorney Warns
  The revamped Real Estate Settlement Procedures Act regulations create more compliance risks and potential pitfalls that could result in more litigation, according to Rebecca Redmond, a closing attorne…
• Industry Nixes Licensing of Mod Specialists
  Requiring mortgage servicers and loss mitigation specialists to be licensed as if they were loan originators would be counterproductive and likely impair foreclosure prevention efforts, according to i…
• Use of Prequalification, Worksheet Slammed
  Federal housing regulators have warned major mortgage lenders against using pre-qualifications and worksheets on undecided borrowers as a way to avoid providing the good faith estimate as required by…
• News In Brief
  FHLBank of Seattle is Now Officially Undercapitalized: The Federal Home Loan Bank of Seattle continued to get pounded by... FHFA’s Lockhart Gets a New Gig. So Who Will Replace Him?: Outgoing Federal…
• FHLBanks Oppose Centralized Reporting Function
  The Federal Home Loan Banks and the Office of Finance are opposed to the recommendation of a study the Office of Finance sponsored last year that calls for more centralization of their collective repo…
• Technology Briefs
  In an effort to streamline the sales process and make mortgage professionals more successful, Leads360... Veros Real Estate Solutions, a provider of enterprise risk management and collateral valuation…
• Illiquid Assets Plagued With Uncertainty
  Correctly valuing illiquid assets is no more certain now than during the credit crisis of 2007 and 2008, but with the proper tools and strategies, investors and fund managers can still find hidden lon…
• Vendors Rush to Meet Demand for Short Sales
  Short sales have long been part of the mortgage industry’s toolbox of loss mitigation strategies, but these transactions have become much more prevalent in a market where housing prices have declined…
• PHH Lays Out Transformation Plan, Few Details
  PHH Corp., the parent of PHH Mortgage, announced the broad goals and approach to its transformation initiative, which is aimed at cutting costs, increasing shareholder value and re-thinking the way th…
• Natty Mac Garnering GSE Warehouse Support
  Natty Mac, a warehouse lender based in St. Petersburg, FL, is finding success in drumming up support from Fannie Mae and Freddie Mac. Months after Freddie announced it was participating in a warehouse…
• Banks Hit With Heavy Mortgage Repurchase Demands in 2009
  Banking organizations were pressed to buy back a record $18.85 billion of mortgage loans during the fourth quarter of 2009, according to a new analysis of call report data by Inside Mortgage Profitabi…
• Government Activity in Agency MBS Market
  MBS purchases and sales by the government entities through August 2009.

[ more posts from imfpubs.com ]

banks.com

• FDIC to Auction Commercial Real Estate Loans
  When the FDIC declares a failed bank and takes over operation of that bank, it takes on the burdens of servicing loans and other responsibilities. Right now, with 26 banks failed so far this year (as…
• Buying a Foreclosure? Make Sure the Property Really is Clean
  Right now, there is a lot of interest in buying foreclosures. There are still quite a few on the market, even though delinquencies are starting to decline. And it is true that you can get a great deal…
• Reader Question: How Do I Know If I Can Afford a Mortgage Payment?
  In this climate, with low home prices and low interest rates (not to mention a tax credit), it is little surprise that first time home buyers are out in force, looking for opportunities. Mortgage appl…
• Mortgage Applications Increase
  Indeed, if you can, you might be advised to refinance. You can get a shorter term, and save even more money over the long run. I myself plan to refinance this year, looking for a good mortgage rate, a…
• IRS Payment Plan: Do You Still Get a Refund?
  As a condition of your installment agreement, any refund that you should receive in the future will be applied against the amount that you owe. In other words, you are not going to receive any money.…
• Hidden Debt Could Balloon Federal Deficit
  We know that the federal deficit is ballooning at a rather scary pace. However, the growing debt that we see is only a part of the picture. There is probably more debt to come as we work to get out of…
• AIG Loss of $9 Billion
  Insurance giant AIG reported a 2009 fourth-quarter loss of $9 billion, leading to speculation that there is plenty of work to be done on the financial sector front.
• U.S. Home Prices Likely to Continue Fall
  U.S. home prices are expected to continue to fall through this year, according to Moody’s and Fiserv. There have been recent signs that the housing market is getting ready to move forward, showing i…
• January New Home Sales Disappoint
  The latest information on January new home sales is quite disappointing. Many analysts had been expecting that great mortgage interest rates, along with the home buyer tax credit, would result in an i…
• U.S. Problem Banks Increase — And So Do Profits
  The U.S. continues to see an increasing number of banks considered problem. A report from the FDIC for the last quarter of 2009 shows that there were 702 banks on the troubled list.

fool.com

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• 7 Reasons to Worry About Next Week
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• AIG: We Like Our Toxic Waste
  ...-rated) mortgage securities are still substantially below their highs
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• 6 Stocks Even Retirees Can Love
  .... Those who've stayed in one place for a while may already have paid off their mortgage entirely
• 5 Easy Ways to Save on Taxes
  ... mortgage interest, insurance, utilities, repairs, business furniture, and depreciation