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  • Fri, Dec 11 2009
  • 3:31 PM » Geithner on Passage of H.R. 4173, the Wall Street Reform andConsumer Protection Act of 2009
    Published Fri, Dec 11 2009 3:31 PM by US Treasury
    The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner on the passage of H.R. 4173 – The Wall Street Reform and Consumer Protection Act of 2009: "I commend the House for H.R. 4173 – The Wall Street Reform and Consumer Protection Act of 2009. President Obama called on Congress to enact comprehensive reform of our Nation's financial regulatory system in response to last year's financial collapse. The President set forth clear objectives and principles for reform that were endorsed by Congressional leaders. House passage of this bill moves us an important step closer to meeting the President's objectives for reform. Comprehensive reform must establish clear rules of the road with strong enforcement for our nation's financial institutions and markets; end loopholes that allowed big Wall Street firms to escape supervision; make it clear that no firm is "too big to fail ;" and provide strong consumer and investor protections for American families. As with any legislation of this scale and complexity, the Administration looks forward to continuing its close work with Congress to strengthen key provisions as the legislation moves toward final passage. "
  • 2:56 PM » MBA Comment on Passage of Regulatory Reform
    Published Fri, Dec 11 2009 2:56 PM by www.mbaa.org
    Robert E. Story, Jr., CMB, Chairman of the Mortgage Bankers Association, today issued the following statement after the U.S. House of Representatives passed H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009. “Unfortunately, we are not in a position where we can support this bill as currently constituted. Throughout this process, we have worked with members of the House on both sides of the aisle to enhance their understanding of the possible negative implications this bill has for current and future homeowners, the lending industry and the mortgage market as a whole. “Regrettably, the House moved forward and passed a bill that could adversely impact borrowers and lenders alike. By not creating a uniform, national regulatory standard, the bill continues the conflicting and confusing patchwork of state and local laws that result in increased costs for borrowers. “And, the risk retention provisions in the bill could make unsustainable the business models of hundreds of non-depository, independent mortgage banking firms that offer up more than a quarter of the mortgages made in this country today. On top of that, depository institutions will have to restrain their lending to meet the new requirements. Eliminating that much lending capacity will surely increase costs and limit borrowing options for many qualified homebuyers. “We are, however, gratified that the House saw fit to vote down the bankruptcy cram down amendment that would have further increased costs for borrowers. “We will continue to work with members of Congress, especially in the Senate where debate on this issue is just getting underway, on these issues and others in an effort to produce financial modernization legislation that strengthens and improves the regulation of the United States financial infrastructure.”
  • Thu, Dec 10 2009
  • 5:24 PM » MBA Applauds Increased Funding for FHA, Fraud Prevention
    Published Thu, Dec 10 2009 5:24 PM by www.mortgagebankers.org
    Robert E. Story, Jr., CMB, Chairman of the Mortgage Bankers Association, today issued the following statement after the U.S. House of Representatives passed the conference report for H.R. 3288, the Consolidated Appropriations Act. The bill contains at least $80 million for technology upgrades and $20 million for fraud detection programs at the Department of Housing and Urban Development and the Federal Housing Administration (FHA), as well as additional funds for fraud detection and prosecution at the Department of Justice.
    Click Here to Read the Full Article

    Source: www.mortgagebankers.org
  • 8:21 AM » American Dream 2: Default, Then Rent
    Published Thu, Dec 10 2009 8:21 AM by WSJ
    People's increasing willingness to abandon their own piece of America illustrates a paradoxical change wrought by the housing bust: Even as it tarnishes the near-sacred image of home ownership, it might be clearing the way for an economic recovery.
  • Wed, Dec 9 2009
  • 4:46 PM » MBA Sends Letter to House Seeking Amendment to HR 4173
    Published Wed, Dec 09 2009 4:46 PM by mortgagebankers.org
    On Dec. 8, the Mortgage Bankers Association (MBA) and several other trade associations sent a letter to the U.S. House of Representatives Committee on Rules requesting the committee make in order a bipartisan amendment to HR 4173, the Wall Street Reform and Consumer Protection Act of 2009 to require regulators to establish a category of mortgage loans that would be exempt from the bill's risk retention requirements. The exemption for qualified mortgage loans is consistent with the approach the House endorsed in May when it passed HR 1728, the Mortgage Reform and Anti-Predatory Lending Act.
    Click Here to Read the Full Article

    Source: mortgagebankers.org
  • 10:56 AM » JPMorgan CEO: Bank sees more mortgage losses
    Published Wed, Dec 09 2009 10:56 AM by www.google.com
    JPMorgan Chase & Co.'s CEO said Tuesday that the bank sees additional losses on home loans next year even as the economy shows slight improvements. Jamie Dimon told investors at the Goldman Sachs U.S. Financial Services conference in New York that his bank is seeing initial signs of stability in consumer delinquency trends, but he also warned that it is not certain if the trend will continue.
    Click Here to Read the Full Article

    Source: www.google.com
  • Tue, Dec 8 2009
  • 4:46 PM » Obama’s Mortgage Modifications to Fail, Amherst’s Goodman Says
    Published Tue, Dec 08 2009 4:46 PM by Bloomberg
    The U.S. loan modification program is “destined to fail” because it doesn’t confront the real problem of negative home equity that is driving foreclosures, Amherst Securities Group LP’s Laurie Goodman told Congress.
  • 12:47 PM » FHA Condo Guidelines Already Scuttling Projects
    Published Tue, Dec 08 2009 12:47 PM by www.latimes.com
    New lending rules for condominium buyers are already forcing some developers to change or scrap plans for new projects for fear too many buyers will be shut out. On Monday, the Federal Housing Administration started limiting the number of buyers in condo buildings that can get loans insured by the agency. The rules also put restrictions on buildings with poor finances, too many delinquent owners and a high number of rentals.
    Click Here to Read the Full Article

    Source: www.latimes.com
  • Mon, Dec 7 2009
  • 6:25 PM » Option ARMs and the "Time Bomb"
    Published Mon, Dec 07 2009 6:25 PM by www.fixedincomecolor.com
    Fears are growing of a renewed surge in defaults on option ARMs (OAs). Investors have increasingly expressed concern that a spike in defaults driven by mandatory payment recalculations (the recast “time bomb”) is building for the roughly $100 billion unpaid balance of 2006-issue loans, and question whether modifications under the Home Affordable Modification Program (HAMP) can be used to help significant numbers of troubled OA borrowers.
    Click Here to Read the Full Article

    Source: www.fixedincomecolor.com
  • 3:22 PM »  SEC Accuses 3 Ex-New Century Execs of Fraud
    Published Mon, Dec 07 2009 3:22 PM by www.latimes.com
    Federal regulators today accused three former top executives of collapsed mortgage lender New Century Financial Corp. of fraud, saying they misled investors as the company's subprime loan business was failing in 2006.
    Click Here to Read the Full Article

    Source: www.latimes.com
  • 3:07 PM » U.S. Banks Choking on Real Estate Loans
    Published Mon, Dec 07 2009 3:07 PM by Bloomberg
    As the U.S. economy pulls out of a recession and the biggest banks return to profitability, mounting defaults on commercial property may keep regional lenders from repaying bailout funds until at least 2011. Unpaid loans on malls, hotels, apartments and home developments stood at a 16-year high of 3.4 percent in the third quarter and may reach 5.3 percent in two years, according to Real Estate Econometrics LLC, a property research firm in New York. That’s a bigger threat to regional banks, which are almost four times more concentrated in commercial property loans than the nation’s biggest lenders, according to data compiled by Bloomberg on bailout recipients.
  • Thu, Dec 3 2009
  • 12:22 PM » MBA Testifies on Federal Housing Administration
    Published Thu, Dec 03 2009 12:22 PM by www.mbaa.org
    Robert E. Story, Jr., CMB, Chairman of the Mortgage Bankers Association, testified today before the House Financial Services Committee at a hearing on the Federal Housing Administration’s Fiscal Year 2009 actuarial report.
  • Wed, Dec 2 2009
  • 2:12 PM » U.S. Housing Market Meltdown Not Over Yet: Zandi
    Published Wed, Dec 02 2009 2:12 PM by Reuters
    The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday.
  • 1:38 PM » Goldman Sachs Investing $61 Million in Affordable Housing
    Published Wed, Dec 02 2009 1:38 PM by www.benzinga.com
    The Goldman Sachs Urban Investment Group announced today an investment of $61 million to support the preservation of more than 500 affordable rental homes for low-income New Yorkers. The investment will go to the New York Equity Fund (NYEF) and represents the largest single investment in the fund’s history.
    Click Here to Read the Full Article

    Source: www.benzinga.com
  • Tue, Dec 1 2009
  • 12:52 PM » Lend America Ceases Mortgage Operations
    Published Tue, Dec 01 2009 12:52 PM by www.lendamerica.com
    Effective immediately the company has ceased it loan origination and operations. The company will continue to operate to fulfill its obligations to past and current borrowers, FNMA, GNMA and the regulatory agencies.
    Click Here to Read the Full Article

    Source: www.lendamerica.com
  • Mon, Nov 30 2009
  • 12:22 PM » Fed's Withdrawal from Housing Threatens Growth
    Published Mon, Nov 30 2009 12:22 PM by washingtontimes.com
    The housing market has shown some encouraging signs of strength in recent months, but analysts caution that the market is mostly responding to powerful government stimulus measures and is not healthy enough to keep growing on its own after the withdrawal of federal aid.
    Click Here to Read the Full Article

    Source: washingtontimes.com
  • 10:46 AM » FHA Goes Upmarket: Washington's latest benefit for the not-so-poor
    Published Mon, Nov 30 2009 10:46 AM by Washington Post
    Created during the depths of the Great Depression, the Federal Housing Administration has a long history of supporting homeownership in the United States. In recent decades, its mission has been to enable lower-income Americans to tap otherwise inaccessible mortgage credit. Purchasers who meet certain qualifications can get a house with a lower-than-usual down payment -- as little as 3.5 percent, currently -- and the FHA compensates the lenders for the added risk by agreeing to pay off defaulted loans. The money comes from buyers' insurance premiums, not tax revenue, but these deals are possible only because, in the final analysis, they're backed by the U.S. government.
    Click Here to Read the Full Article

    Source: Washington Post
  • 8:44 AM » U.S. Will Push Mortgage Firms to Reduce More Loan Payments
    Published Mon, Nov 30 2009 8:44 AM by www.nytimes.com
    The Obama administration on Monday plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a $75 billion taxpayer-financed effort aimed at stemming foreclosures is foundering.
    Click Here to Read the Full Article

    Source: www.nytimes.com
  • Wed, Nov 25 2009
  • 5:50 PM » Judge blasts bad bank, erases $525G debt
    Published Wed, Nov 25 2009 5:50 PM by www.nypost.com
    A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present -- canceling their debt to ruthless bankers trying to toss them out on the street. Suffolk Judge Jeffrey Spinner wiped out $525,000 in mortgage payments demanded by a California bank, blasting its "harsh, repugnant, shocking and repulsive" acts. The bombshell decision leaves Diane Yano-Horoski and her husband, Greg Horoski, owing absolutely no money on their ranch house in East Patchogue.
    Click Here to Read the Full Article

    Source: www.nypost.com
  • Tue, Nov 24 2009
  • 4:56 PM » Updates to the Home Affordable Modification Program - MBS Mortgage Loans Introduction
    Published Tue, Nov 24 2009 4:56 PM by Fannie Mae
    Announcement 09-05R, Reissuance of the Introduction of the Home Affordable Modification Program, HomeSaver Forbearance™, and New Workout Hierarchy, provided guidance to Fannie Mae-approved servicers on the adoption and implementation of the Home Affordable Modification Program (HAMP). This Announcement describes updates to the policies regarding reclassification and removal of MBS mortgage loans from MBS pools.
  • Mon, Nov 23 2009
  • 5:57 PM » MBA Reports Multifamily Lending 40 Percent Lower in 2008 Than 2007; Market Remained Broad and Diverse
    Published Mon, Nov 23 2009 5:57 PM by www.mbaa.org
    In 2008, 2,877 different multifamily lenders provided a total of more than $88 billion in new financing for apartment buildings with five or more units, according to an annual report from the Mortgage Bankers Association (MBA). The 2008 dollar volume represents a 40 percent decline from 2007 levels.
  • 2:42 PM » Bill Berliner Market Update: November 23, 2009
    Published Mon, Nov 23 2009 2:42 PM by www.fixedincomecolor.com
    Mortgages lagged for most of last week, putting a bit of a damper on their recent run. The Fannie 30-year Current Coupon spread widened out by 5 basis points on the week, even though the sector had a good day on Friday (as shown in Chart 3 below). Most coupons had a very bad week, with Fannie 4.0s lagging the 5-year by almost ½ point. The 15-year current coupon appeared to widen substantially, but this represents a bit of a distortion; since Dwarf 4.0s (trading over 102) are the lowest liquid coupon, the current coupon yield has to be extrapolated from higher coupon prices, rather than interpolated from discount and premium coupons. (On a duration-neutral basis, they generally underperformed Treasuries in line with their 30-year counterparts.) The widening may reflect the recognition that the Fed is winding down its agency MBS purchase program, having “only” net purchases of $16 billion last week and $29.5 billion for the last two weeks.
    Click Here to Read the Full Article

    Source: www.fixedincomecolor.com
  • Wed, Nov 18 2009
  • 3:27 PM » Toll Brothers Bashes the FHA
    Published Wed, Nov 18 2009 3:27 PM by Bloomberg
    The Federal Housing Authority, which insures home purchases with as little as 3.5 percent down payments, may create another crisis in the lending industry, Toll Brothers Inc. Chief Executive Officer Robert Toll said. “Yesterday’s subprime is today’s FHA,” Toll said today at a New York conference for builders sponsored by UBS AG. “It’s a definite train wreck and the flag will go up in the next couple of months: Bail us out. Give us more money.” Toll Brothers is largest U.S. luxury homes builder..,
  • 11:17 AM » HUD Updates RESPA FAQ
    Published Wed, Nov 18 2009 11:17 AM by www.hud.gov
    On November 17, 2009, the U.S. Department of Housing and Urban Development (HUD) released updated Frequently Asked Questions (FAQ) on the Real Estate Settlement and Procedures Act (RESPA) Final Rule.
  • Tue, Nov 17 2009
  • 2:56 PM » Fannie and Freddie Fire Inspector General
    Published Tue, Nov 17 2009 2:56 PM by The Huffington Post
    There is no independent auditor overseeing the federal agency responsible for some $6 trillion in home mortgages, because the Department of Justice's Office of Legal Counsel ruled that the agency's inspector general didn't have authority to operate, according to internal memos obtained by the Huffington Post. The ruling came in response to a request from the Federal Housing Finance Agency itself -- which means that a federal agency essentially succeeded in getting rid of its own inspector general.
    Click Here to Read the Full Article

    Source: The Huffington Post
  • Fri, Nov 13 2009
  • 4:26 PM » Fannie Mae: Conventional Loan Limits for 2010
    Published Fri, Nov 13 2009 4:26 PM by Fannie Mae
    The purpose of this Announcement is to publish Fannie Mae’s loan limits for 2010 for all conventional mortgage loans. The Federal Housing Finance Agency (FHFA) has issued the loan limits that will apply to conventional loans to be acquired by Fannie Mae in 2010; these first mortgage loan limits are defined in terms of general loan limits and high-cost area loan limits.
  • Thu, Nov 12 2009
  • 10:15 AM » FHA COMMISSIONER REPORTS ON FHA'S FINANCES
    Published Thu, Nov 12 2009 10:15 AM by HUD
    U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and Federal Housing Administration (FHA) Commissioner David H. Stevens today briefed members of the media, industry leaders and congressional Members on the FHA’s financial outlook, in coordination with the agency’s release of its annual independent actuarial study.
  • 10:13 AM » FHFA Reaffirms Undercapitalized Status of the Federal Home Loan Bank of Seattle
    Published Thu, Nov 12 2009 10:13 AM by FHFA
    Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today announced that he has reaffirmed the status of the Federal Home Loan Bank of Seattle (Seattle Bank) as “Undercapitalized” under the FHFA’s Prompt Corrective Action Regulation. This determination continues the restrictions currently imposed on the Federal Home Loan Bank of Seattle that prohibit it from redeeming or repurchasing any capital stock or paying any dividends. Acting Director DeMarco took this action because of uncertainty concerning collateral values and potential for future losses on the Seattle Bank’s private-label mortgage-backed securities portfolio.
  • Tue, Nov 10 2009
  • 5:09 PM » Federal Reserve: Ways to improve housing options for low-income renters
    Published Tue, Nov 10 2009 5:09 PM by Federal Reserve
    The Federal Reserve Board on Tuesday announced the availability of a collection of brief articles that examine ways to improve the availability of housing options for low-income renters. The publication, commissioned in conjunction with the Community Affairs staff at the Federal Reserve Bank of St. Louis, focuses on opportunities to strengthen the Low Income Housing Tax Credit (LIHTC) program. Since its creation in 1986, this program has been a major source of capital for the development of rental housing. However, the recent economic downturn has significantly reduced investor interest in this tax credit.
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 10:08 AM » Dodd to Propose Removing FDIC and Fed Bank Supervision Powers
    Published Tue, Nov 10 2009 10:08 AM by Bloomberg
    Senator Christopher Dodd will propose creating a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority, said a person familiar with the matter.
  • 10:06 AM » Banks Choosing Treasury Bonds Over Loans
    Published Tue, Nov 10 2009 10:06 AM by blogs.wsj.com
    You know an economy isn’t healthy when banks are using as much of their money to buy government debt as they are to make loans to businesses. That’s just what’s happening right now. According to the Federal Reserve ’s latest weekly measure of bank assets and liabilities, released every Friday, banks held 1.37 trillion of Treasury and Fannie Mae or Freddie Mac debt securities at the end of October and $1.37 trillion of commercial and industrial loans.
    Click Here to Read the Full Article

    Source: blogs.wsj.com
  • Mon, Nov 9 2009
  • 4:18 PM » Bill Berliner Market Update: November 9, 2009
    Published Mon, Nov 09 2009 4:18 PM by www.fixedincomecolor.com
    Treasuries have bounced around in an increasingly narrow range since the beginning of the month. The 10-year opened the week at just under a 102 price, but after closing at 101-23 (for a 3.42% yield) on Monday bounced around between 100-26 and 101-10 for the remainder of the week, closing right at the 3.50% level. Chart 1 below shows the 2SD band analysis for the 10-year yield. As expected, the 60-day lookback upper band has descended and is now on top of the 40-day band, at just under a 3.60% level. In this framework, the 10-year remains vulnerable to a breakout to higher rates; a move above 3.60% would probably trigger some duration shedding that would take its yield past 3.75%, while also pushing longer swap spreads wider.
    Click Here to Read the Full Article

    Source: www.fixedincomecolor.com
  • Fri, Nov 6 2009
  • 11:55 AM » NAIC To Produce New Ratings Model For RMBS
    Published Fri, Nov 06 2009 11:55 AM by www.naic.org
    Members of the National Association of Insurance Commissioners (NAIC) approved a proposal this week to develop a new model for determining the regulatory treatment of residential mortgage-backed securities (RMBS). The new model will produce ratings designations for approximately 18,000 RMBS owned by U.S. insurers at the end of 2009.
  • Thu, Nov 5 2009
  • 1:42 PM » MBA Study: Commercial and Multifamily Mortgage Originations Remained Low in Third Quarter 2009
    Published Thu, Nov 05 2009 1:42 PM by www.mortgagebankers.org
    Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:1; mso-generic-font-family:roman; mso-font-format:other; mso-font-pitch:variable; mso-font-signature:0 0 0 0 0 0;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman","serif"; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-size:10.0pt; mso-ansi-font-size:10.0pt; mso-bidi-font-size:10.0pt;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Commercial and multifamily mortgage loan originations for the third quarter of 2009 were...
    Click Here to Read the Full Article

    Source: www.mortgagebankers.org
  • 1:39 PM » Short Sale Battles Weigh on Housing Recovery
    Published Thu, Nov 05 2009 1:39 PM by Reuters
    Home equity lenders faced with losses from the U.S. property slump are holding out for more money in distressed sales, slowing transactions needed to support a recovery, real estate agents and analysts say. These secondary lenders are gaining power in negotiating payments from "short sales," a growing part of the market where homes are sold for less than the balance of outstanding loans.
  • 1:19 PM » FHA Delays the Release of Audit
    Published Thu, Nov 05 2009 1:19 PM by Washington Post
    The Federal Housing Administration abruptly delayed the release of a long-awaited independent audit of the financial soundness of the agency, citing potential problems with the accuracy of some of the study's economic models. The audit, compiled by Integrated Financial Engineering of Rockville, was scheduled to be released Wednesday, and the agency's top officials planned to brief reporters on its results. But on Tuesday evening, the agency postponed the event, saying the report had yet to be finalized. In a separate statement Wednesday, FHA Commissioner David H. Stevens said the delay was related to economic scenario tests that the agency requested "above and beyond" what was originally to be included in the audit so that the FHA could "better understand a broader range of risk scenarios."
    Click Here to Read the Full Article

    Source: Washington Post
  • Wed, Nov 4 2009
  • 7:33 PM » Fannie Mae Update: Electronic Appraisal Delivery
    Published Wed, Nov 04 2009 7:33 PM by view.exacttarget.com
    Announcement 09-14, Electronic Appraisal Reports, Enhancements to the Loan Delivery File Format, and Mortgage Fraud Reporting, stated that Fannie Mae will require the submission of electronic appraisal reports and their addenda in an acceptable XML format for all loans requiring an appraisal report. The date lenders will be required to comply with this requirement has changed from March 1, 2010 to sometime on or after July 1, 2010 (effective date to be announced). Also, the acceptable submission format has changed to accommodate XML formats that are commonly used in the residential appraisal marketplace.
    Click Here to Read the Full Article

    Source: view.exacttarget.com
  • Mon, Nov 2 2009
  • 4:51 PM » Freddie Mac Updates to HAMP Program
    Published Mon, Nov 02 2009 4:51 PM by Freddie Mac
    Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 &lt;!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:-1610611985 1107304683 0 0 159 0;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman","serif"; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin;} a:link, span.MsoHyperlink {mso-style-priority:99; color:#0362AA; text-decoration:underline; text-underline:single;} a:visited, span.MsoHyperlinkFollowed {mso-style-noshow:yes; mso-style-priority:99; color:purple; mso-themecolor:followedhyperlink; text-decoration:underline; text-underline:single;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-size:10.0pt; mso-ansi-font-size:10.0pt; mso-bidi-font-size:10.0pt;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --&gt; /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} Today, we issued Single-Family Seller/Servicer Guide (Guide) Bulletin 2009-26, which...
  • 4:44 PM » Fannie Updates and Clarifications to the Home Affordable Modification Program
    Published Mon, Nov 02 2009 4:44 PM by view.exacttarget.com
    On Monday, November 2, 2009, Fannie Mae issued Servicing Guide Announcement 09-31: Updates and Clarifications to the Home Affordable Modification Program, which updates and clarifies the Home Affordable Modification Program (HAMP) for Fannie Mae loans that was originally introduced in Announcement 09-05R: Introduction to the Home Affordable Modification Program, HomeSaver Forbearance™, and the New Workout Hierarchy. This Announcement provides important guidance to servicers participating in the Home Affordable Modification Program (HAMP) and outlines changes that streamline the program documentation and standardize the evaluation process.
    Click Here to Read the Full Article

    Source: view.exacttarget.com
  • 2:05 PM » Pay Limits and Financial Reform
    Published Mon, Nov 02 2009 2:05 PM by fixedincomecolor.com
    Discussions and proposals on reining in the excesses of the financial system remain active. The last few weeks saw an announcement by the Federal Reserve targeting executive compensation as a component of its plans for financial reform, along with discussions about reducing the financial system’s exposure to firms that are “too big to fail."
    Click Here to Read the Full Article

    Source: fixedincomecolor.com
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 3.23%
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  • Jumbo 30 Year Fixed 3.80%
MBS Prices:
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  • 30YR FNMA 5.0 111-07 (-0-01)
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  • 30YR FNMA 5.5 113-05 (-0-01)
Recent Housing Data:
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  • Purchase Index -3.68%