Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
128,356
# of Subscribers
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 7 and 3 and type the answer here:
Leave this field blank.
What is Around the Web?
It is a continuously updated stream of news from around the web
Visit throughout the day for the latest breaking news.
» Click any link below to read more.
  • Tue, Oct 27 2009
  • 2:47 PM » MBA Convenes Council on the Future of FHA
    Published Tue, Oct 27 2009 2:47 PM by www.mbaa.org
    The Mortgage Bankers Association (MBA) today announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace.
  • 8:02 AM » Goldman Sachs sees 'False Bottom' in Housing, Merrill Sees 'Treat'
    Published Tue, Oct 27 2009 8:02 AM by Bloomberg
    The stabilization in U.S. home prices won’t last, according to economists at Goldman Sachs Group Inc. in New York. Their counterparts at BofA Merrill Lynch Global Research see a “treat” rather than a retreat.
  • 7:35 AM » Senate Said to Extend, Reduce Homebuyer Tax Credit
    Published Tue, Oct 27 2009 7:35 AM by Bloomberg
    Senate leaders are negotiating to extend and gradually reduce an $8,000 tax credit for first-time homebuyers through 2010, Senator Bill Nelson of Florida said. “We should be able to extend that later this week,” Nelson, a Democrat, told reporters traveling today with President Barack Obama on Air Force One to a speech in Jacksonville, Florida. Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus of Montana, both Democrats, may seek to add the homebuyers extension to legislation extending unemployment benefits that may be debated as early as this week, according to Regan Lachapelle, an aide to Reid.
  • 7:32 AM » The Home-Buyer Tax Credit: Throwing Good Money After Bad
    Published Tue, Oct 27 2009 7:32 AM by Washington Post
    Congress and the administration seem likely to extend the first-time-home-buyer tax credit. Senate Majority Leader Harry M. Reid wants to extend it through December 2010 but phase out the amount over time; Republican Senator Johnny Isakson, a former real estate agent, wants to extend it through June but double the income limit and make it available to all home buyers.
    Click Here to Read the Full Article

    Source: Washington Post
  • Mon, Oct 26 2009
  • 12:03 PM » U.S. RMBS Servicers’ Loss Mitigation and Modification Efforts Update
    Published Mon, Oct 26 2009 12:03 PM by fixedincomecolor.com
    Loss mitigation and modifications continue to change to meet the current market conditions and government guidelines. Based on information submitted by Fitch’s rated servicers, as well as performance data on private securitizations, RMBS servicers have continued to increase the overall number of loss mitigation (loss mit) resolutions or workouts, including significantly increasing the number of loan modifications (mods). As of September 2009, approximately 10% of all RMBS loans, including 25% of RMBS subprime loans, have received at least one modification, up from 3% and 7%, respectively, in September 2008.
    Click Here to Read the Full Article

    Source: fixedincomecolor.com
  • 12:01 PM » Chicago Fed National Activity Index (CFNAI)
    Published Mon, Oct 26 2009 12:01 PM by www.chicagofed.org
    The Chicago Fed National Activity Index (CFNAI) is a monthly index designed to better gauge overall economic activity and inflationary pressure. The CFNAI is released at 8:30 a.m. ET on scheduled days, normally toward the end of each calendar month.
    Click Here to Read the Full Article

    Source: www.chicagofed.org
  • Fri, Oct 23 2009
  • 9:41 AM » Fed weighs language on rates guidance
    Published Fri, Oct 23 2009 9:41 AM by www.ft.com
    Ever since, the US central bank has stuck with the “extended period” phrase – indicating policymakers see little likelihood that interest rates will rise over a time frame that has never been defined, but some see as at least six months. But now senior officials are starting to mull changing the statement in a way that would soften this guidance. That would be a natural step in the slow glide- path towards eventual policy normalisation.
  • Thu, Oct 22 2009
  • 2:29 PM » BlackRock's Fisher: Fed's MBS buys may be deferring pain
    Published Thu, Oct 22 2009 2:29 PM by Reuters
    It is too soon to tell whether the Federal Reserve's purchases of mortgage-related assets are a success as they may just be putting off the pain until a later date, BlackRock's fixed income co-head Peter Fisher, said on Thursday. Fisher, in comments prepared for a panel at the Boston Fed's annual conference in Cape Cod, said there was an "absence of a credible exit" strategy from programs such as the Fed's buying of mortgage-related assets and the program to restart securitization markets.
  • Wed, Oct 21 2009
  • 4:46 PM » Briefing Document: Statement on FASB 166 and 167
    Published Wed, Oct 21 2009 4:46 PM by www.fasb.org
    The FASB concluded its deliberations of two proposals on May 18, 2009 which were finalized as standards on June 12, 2009. One of the proposals relates to the consolidation of variable interest entities, and one will amend existing guidance for when a company “derecognizes” transfers of financial assets. A variable interest entity (VIE) is a business structure that allows an investor to hold a controlling interest in the entity, without that interest translating into possessing enough voting privileges to result in a majority. After considering all of the feedback received on these original proposals exposed for comment in September 2008, the FASB concluded its deliberations and expects to issue final standards in June 2009.
  • 12:22 PM » IRS: Form Aids Processing of Mortgage Applications, Makes Ordering Tax Transcripts Simpler
    Published Wed, Oct 21 2009 12:22 PM by www.irs.gov
    The Internal Revenue Service today issued a new form to aid the processing of mortgage applications under the Home Affordable Modification Program (HAMP) as part of the Making Home Affordable Program. The new form will make it simpler for people, especially homeowners trying to modify or refinance their mortgages, to order copies of their tax return transcripts.
  • 11:53 AM » Cheaper Mortgages Spark Lower FICO Scores for Payers
    Published Wed, Oct 21 2009 11:53 AM by Bloomberg
    Banks, including Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp., report the loan modifications to credit bureaus. The adjustments can lower credit scores because of the way the FICO formula, the most widely used by U.S. lenders, works.
  • 11:49 AM » Yesterday's 'State of the Housing Market' Senate Banking Hearing
    Published Wed, Oct 21 2009 11:49 AM by banking.senate.gov
    The witness on Panel I will be: The Honorable Johnny Isakson (R-GA), United States Senator. The witness on Panel II will be: The Honorable Shaun Donovan, Secretary, U.S. Department of Housing and Urban Development. The witnesses on Panel III will be: Ms. Diane Randall, Executive Director, Partnership for Strong Communities; Mr. Ronald Phipps, First Vice President, National Association of Realtors; Mr. Emile J. Brinkmann, Chief Economist and Senior Vice President for Research and Economics, Mortgage Bankers Association; and Mr. David Crowe, Chief Economist, National Association of Home Builders.
    Click Here to Read the Full Article

    Source: banking.senate.gov
  • Mon, Oct 19 2009
  • 12:51 PM » Obama Administration Announces Initiative for State and Local Housing Finance Agencies
    Published Mon, Oct 19 2009 12:51 PM by treasury.gov
    Programs Designed to Expand Resources for Working Families to Access Affordable Rental Housing and Home Ownership over Long Term at Little or No Expected Cost to the Taxpayer
  • 10:24 AM » Fed Statement Regarding Reverse Repurchase Agreements
    Published Mon, Oct 19 2009 10:24 AM by NY Fed
    Numerous Federal Reserve communications have indicated that reverse repurchase agreements are a tool that could be used to support a reduction in monetary accommodation at the appropriate time. Over the past year, the Federal Reserve Bank of New York has been working internally and with market participants on operational aspects of reverse repos to ensure that this tool will be ready when and if the Federal Open Market Committee decides they should be used. This work is a matter of prudent advance planning by the Federal Reserve, and no inference should be drawn about the timing of monetary policy tightening.
  • Wed, Oct 14 2009
  • 8:51 AM » Mortgage Bankers Association 2010 Economic Forecast
    Published Wed, Oct 14 2009 8:51 AM by www.mbaa.org
    MBA expects economic growth to continue through the rest of 2009 before slowing in the first half of 2010. Unemployment is expected to climb to 10.2 percent by the middle of 2010 before beginning to moderate as economic growth resumes sustained growth in the second half of the year.
  • Mon, Oct 12 2009
  • 1:38 PM » NABE Outlook: Recession Is Over, but a Muted Recovery to Follow October 2009
    Published Mon, Oct 12 2009 1:38 PM by www.nabe.com
    “The Great Recession is over,” according to NABE’s latest survey. “The survey found that the vast majority of business economists believe that the recession has ended but that the economic recovery is likely to be more moderate than those typically experienced following steep declines. The NABE panel upgraded the economic outlook for the next several quarters, compared with the previous survey,”said NABE President-elect Lynn Reaser, chief economist at Point Loma Nazarene University. “Following a sharp 6.4 percent (annual rate) contraction in the first quarter of this year and another 0.7 percent drop in the second quarter, NABE forecasters expect real GDP to rise at an above trend 2.9 percent rate in the second half. The more-than-three-year downturn in the housing market is very close to coming to an end, with substantial growth (from a low base) expected for next year. According to the survey, the key areas of concern involve the large increases in federal debt and unemployment rates that are expected to remain very high through next year. The unemployment rate is forecast to rise to 10 percent in the first quarter of next year and edge down to 9.5 percent by the end of 2010. Inflation is expected to remain contained throughout 2010. The good news is that this deep and long recession appears to be over, and with improving credit markets, the U.S. economy can return to solid growth next year without worry about rising inflation.”
  • Thu, Oct 8 2009
  • 3:46 PM » FHA may be setting up repeat of housing bubble, lawmakers worry
    Published Thu, Oct 08 2009 3:46 PM by www.latimes.com
    In the wake of the mortgage meltdown, the Federal Housing Administration has emerged as a pillar of the still wobbly housing market -- providing vital insurance that enables borrowers to qualify for loans with as little as 3.5% down. The percentage of loans backed by the agency that are delinquent or in foreclosure hit nearly 8% at the end of June. Critics say borrowers don't have enough of a stake in keeping up with payments.
    Click Here to Read the Full Article

    Source: www.latimes.com
  • Wed, Oct 7 2009
  • 8:25 AM » Fannie Mae Pushes Back Originator Identification Requirements
    Published Wed, Oct 07 2009 8:25 AM by view.exacttarget.com
    In Announcement 09-11, Mortgage Loan Data Requirements, Fannie Mae stated that in compliance with Federal Housing Finance Agency (FHFA) requirements, loan origination identifiers and appraiser data elements will be required for mortgage loan applications dated on or after January 1, 2010. Policy Update With approval from FHFA, Fannie Mae has issued a Selling Guide Notice to inform lenders that the effective date for the requirement to deliver the loan origination identifiers and appraiser data elements has been extended to July 1, 2010. However, beginning March 1, 2010, Fannie Mae's systems will be ready to capture this data at the time of delivery should the lender be prepared to send the data prior to July 1, 2010.
    Click Here to Read the Full Article

    Source: view.exacttarget.com
  • Tue, Oct 6 2009
  • 12:53 PM » Berliner Discusses Regulatory Reform and the Fed
    Published Tue, Oct 06 2009 12:53 PM by fixedincomecolor.com
    Early last summer, the Obama administration proposed a sweeping revision of U.S. financial regulation. Among its notable features are the elevation of the Federal Reserve to the role of primary financial regulator and the creation of a Financial Services Oversight Council to monitor so-called systemic risks, i.e., those exposures that risk a cascading series of failures based on the collapse of one entity.
    Click Here to Read the Full Article

    Source: fixedincomecolor.com
  • Sun, Oct 4 2009
  • 2:43 PM » Week of October 4, 2009: Mortgage Market and Refinance Update
    Published Sun, Oct 04 2009 2:43 PM by www.fixedincomecolor.com
    The drop in rates has exhibited a few interesting phenomena. The spread between the Freddie survey rate and other measures (such as the Bankrate.com national average) has widened, reflecting disparities in offering rates among lenders. While there are always timing issues involved with the survey rate, it was reported at 4.94%, solidly below the 5% threshold that is generally assumed to be a trigger for refi activity. As of the end of the week, however, the Bankrate.com national average remained at 5.13%. It will be interesting to observe whether, and how quickly, the two measures converge back to their normal spread, where the Bankrate.com rate is generally about 10 basis points higher than the Freddie survey rate.
    Click Here to Read the Full Article

    Source: www.fixedincomecolor.com
  • Thu, Oct 1 2009
  • 5:34 PM » FHA Borrowers May Need Bigger Down Payments in Bill
    Published Thu, Oct 01 2009 5:34 PM by Bloomberg
    Legislation introduced in the U.S. House of Representatives would require higher down payments from borrowers seeking federally backed loans as lawmakers try to prop up the Federal Housing Administration’s insurance fund. Representative Scott Garrett, a New Jersey Republican, is pushing the legislation to recoup some of the program’s losses as record-high delinquencies drive FHA’s reserve fund below 2 percent of loans insured, he said in a statement. The measure brought forward today would increase the minimum down payment required for an FHA loan to 5 percent from 3.5 percent.
  • 5:30 PM » Leaving Affordable Mortgage May Become Winning Gambit
    Published Thu, Oct 01 2009 5:30 PM by Bloomberg
    Scott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it’s worth 33 percent less than what he owes and it may take more than a decade to break even. Homeowners like Conroy who can afford their monthly payments are weighing whether to sell and pay the difference, stick it out until housing prices recover, or walk away. In the U.S., 26 percent of borrowers owe more than their home is worth, said Karen Weaver, global head of securitization research for New York-based Deutsche Bank Securities. In parts of California, Florida and Nevada, it’s as high as 75 percent. So-called strategic defaults, in which homeowners stop paying their mortgages while remaining current on other debts, rose 128 percent to 588,000 last year, according to Experian PLC, a Dublin-based credit-checking company, and Oliver Wyman, a New York-based consulting firm. Two-thirds of those who walked away defaulted on their primary residences.
  • 1:08 PM » Federal Reserve on High Priced Mortgages
    Published Thu, Oct 01 2009 1:08 PM by Federal Reserve
    The Federal Reserve Board approved a final rule for home mortgage loans to better protect consumers and facilitate responsible lending. The rule prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. The final rule also establishes advertising standards and requires certain mortgage disclosures to be given to consumers earlier in the transaction.
    Click Here to Read the Full Article

    Source: Federal Reserve
  • Wed, Sep 30 2009
  • 12:51 PM » OCC and OTS Release Mortgage Metrics Report for Second Quarter 2009
    Published Wed, Sep 30 2009 12:51 PM by US Treasury
    The latest OCC and OTS Mortgage Metrics Report showed that difficult economic conditions resulted in higher rates of mortgage delinquencies and foreclosures in process, which increased to 8.5 percent and 2.9 percent of all serviced mortgages, respectively, but as the Administration’s “Making Home Affordable” program got underway during the quarter, efforts to assist homeowners and avoid loss were also on the rise.
  • Fri, Sep 25 2009
  • 10:05 AM » The Fed's Job Is Only Half Over
    Published Fri, Sep 25 2009 10:05 AM by WSJ
    Recent media stories have chronicled in great detail the events of the last couple of years. A pair of conclusions might be fairly drawn from these early drafts of history. One is that the financial-market turmoil of the last year proved to be of significant consequence to the economy. The second is that the Federal Reserve distinguished itself from historical analogues by taking extraordinary actions to address risks to the economy. Commentators, however, tend to disagree as to whether the extraordinary actions undertaken were to the good or the detriment of the U.S. economy in the long-run.
  • Thu, Sep 24 2009
  • 1:57 PM » Housing Crash to Resume on 7 Million Foreclosures , Amherst Says
    Published Thu, Sep 24 2009 1:57 PM by Bloomberg
    The crash in U.S. home prices will probably resume because about 7 million properties that are likely to be seized by lenders have yet to hit the market, Amherst Securities Group LP analysts said. The “huge shadow inventory,” reflecting mortgages already being foreclosed upon or now delinquent and likely to be, compares with 1.27 million in 2005, the analysts led by Laurie Goodman wrote today in a report. Assuming no other homes are on the market, it would take 1.35 years to sell the properties based on the current pace of existing-home sales, they said.
  • Wed, Sep 23 2009
  • 8:08 AM » Fannie Updates Minimum Credit Scores, Mortgage Insurance, Pricing for Certain Desktop Underwriter® Loans
    Published Wed, Sep 23 2009 8:08 AM by Fannie Mae
    Fannie Mae continually reviews its risk appetite, eligibility requirements, mortgage insurance options, and pricing. As a result of the most recent review, Fannie Mae will implement a number of changes, including Desktop Underwriter® (DU®) Version 8.0, changes to credit score requirements, and mortgage insurance coverage levels.
  • Fri, Sep 18 2009
  • 2:31 PM » FHA ANNOUNCES CREDIT POLICY CHANGES, ADDING CHIEF RISK OFFICER
    Published Fri, Sep 18 2009 2:31 PM by www.hud.gov
    Federal Housing Administration (FHA) Commissioner David H. Stevens today announced plans to implement a set of credit policy changes that will enhance the agency's risk management functions. Stevens also announced his intention to hire a Chief Risk Officer for the first time in the FHA's 75-year history.
  • Thu, Sep 17 2009
  • 3:11 PM » First-Time Homebuyer Credit Provides Tax Benefits to 1.4 Million Families to Date, More Claims Expected
    Published Thu, Sep 17 2009 3:11 PM by www.irs.gov
    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: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;} p {mso-style-priority:99; mso-margin-top-alt:auto; margin-right:0in; mso-margin-bottom-alt:auto; margin-left:0in; 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...
  • 9:58 AM » SEC Carves Out New Division to Docus on Financial Risks and Trends
    Published Thu, Sep 17 2009 9:58 AM by www.investmentnews.com
    The Securities and Exchange Commission is establishing a Division of Risk, Strategy and Financial Innovation to help it identify potential potholes and developments in the financial markets.The division will have responsibility over three broad areas: risk and economic analysis, strategic research and financial innovation.
    Click Here to Read the Full Article

    Source: www.investmentnews.com
  • 9:52 AM » Japan Foreign Bond Buys Reach 4-Year High as Funding Costs Drop
    Published Thu, Sep 17 2009 9:52 AM by Bloomberg
    Japanese investors completed the biggest weekly purchase of foreign bonds in four years as cheaper borrowing costs boosted the attractiveness of foreign debt.
  • 9:50 AM » Americans Plan to Limit Spending on Recovery Concern
    Published Thu, Sep 17 2009 9:50 AM by Bloomberg
    Americans plan to refrain from boosting their spending even after the biggest drop in consumption since 1980, signaling concern about the direction of the economy over the next six months.
  • Wed, Sep 16 2009
  • 1:09 PM » The Secret Test That Ensures Lenders Win on Loan Mods
    Published Wed, Sep 16 2009 1:09 PM by www.propublica.org
    The Net Present Value test is a complex computer model used by loan servicers to determine whether a homeowner qualifies for the federal loan modification program. The test compares two scenarios – modification and foreclosure – and determines which would be more profitable for the lender. If it’s foreclosure, the lender has no obligation to modify the loan. But the model is a black box. What goes in isn’t entirely clear, and what comes out isn’t always reliable.
    Click Here to Read the Full Article

    Source: www.propublica.org
  • 12:06 PM » Fannie Mae Appoints Terry Edwards EVP of Credit Portfolio Management
    Published Wed, Sep 16 2009 12:06 PM by Fannie Mae
    Fannie Mae President and Chief Executive Officer Mike Williams has appointed Terry Edwards to serve as the company's new Executive Vice President, Credit Portfolio Management. Edwards, former President and CEO of PHH Corporation, will have responsibility for Fannie Mae's foreclosure prevention and loss mitigation activities for its single-family book of business. In this capacity, he will lead the company's National Servicing Organization, its National Property Disposition Center, and its National Underwriting Center. His duties will include executing the Making Home Affordable program, managing our Real Estate Owned (REO) and loss mitigation activities, ensuring collection and preservation of credit enhancements, as well as overseeing and managing our servicing guidelines and policies.
  • Tue, Sep 15 2009
  • 2:02 PM » SEC to Reconsider Flash Orders on Thursday
    Published Tue, Sep 15 2009 2:02 PM by www.tradersmagazine.com
    This Thursday, the Securities and Exchange Commission is expected to reconsider whether market centers should be able to use flash orders. One possible outcome could be the end of flash orders on those markets that allow them. The SEC has been under pressure for several months to reevaluate flash orders. However, these order types have staunch critics as well as supporters.
    Click Here to Read the Full Article

    Source: www.tradersmagazine.com
  • 8:49 AM » Fed Likely to Keep Buying Mortgage Instruments
    Published Tue, Sep 15 2009 8:49 AM by WSJ
    The Federal Reserve, which convenes its policy meeting next week, is likely to stay the course to buy $1.45 trillion in mortgage-linked securities despite potential resistance from a few regional Fed presidents. Central-bank officials plan to discuss winding down those purchases over the coming months to limit disruption to the market when the buying comes to an end. Some regional Fed policy makers have suggested the Fed might halt the program before it finishes its purchases of $1.25 trillion in mortgage-backed securities and $200 billion in Fannie Mae and Freddie Mac debt announced in the past year. But ...
  • Mon, Sep 14 2009
  • 1:29 PM » Analysis of Options for Revising the Housing Enterprises’ Long-term Structures
    Published Mon, Sep 14 2009 1:29 PM by US GAO
    On September 6, 2008, the Federal Housing Finance Agency (FHFA) placed the enterprises into conservatorship out of concern that their deteriorating financial condition ($5.4 trillion in outstanding obligations) would destabilize the financial system. With estimates that the conservatorship will cost taxpayers nearly $400 billion, GAO initiated this report under the Comptroller General’s authority to help inform the forthcoming congressional debate on the enterprises’ future structures. It discusses the enterprises’ performance in meeting mission requirements, identifies and analyzes options to revise their structures, and discusses key transition issues.
  • Fri, Sep 11 2009
  • 11:41 AM » Living Large: Wells Fargo Exec Partying in $12 M Foreclosed Beach House
    Published Fri, Sep 11 2009 11:41 AM by blogs.wsj.com
    According to an LA times article this morning , that Wells executive, who is responsible for the bank’s foreclosed commercial properties, was seen throwing parties at a $12 million beach house in Malibu, California. According to the article, Wells Fargo had refused to show the house to prospective buyers, perplexing local real estate agents.
    Click Here to Read the Full Article

    Source: blogs.wsj.com
  • Tue, Sep 8 2009
  • 1:41 PM » The Questionable Future of Non-Agency Lending
    Published Tue, Sep 08 2009 1:41 PM by www.fixedincomecolor.com
    The recent contraction in the spread between Jumbo- and conforming-balance mortgage loans has obscured continued problems in the market for non-agency loans. The lack of a securities market outlet for loan production means that virtually all loans ineligible for agency execution must be held in portfolio by the lender. In addition to requiring LTVs of 75% or lower, the pricing of non-agency loans is dependent on each lender’s balance sheet and capital position, along with their appetite for credit and interest rate risk. Ultimately, the banking system’s collective balance sheet is not large or strong enough to indefinitely support the upper tier of the housing market on its own.
    Click Here to Read the Full Article

    Source: www.fixedincomecolor.com
  • Fri, Sep 4 2009
  • 10:30 PM » Abbey owns up to mortgage application malpractice
    Published Fri, Sep 04 2009 10:30 PM by www.dailymail.co.uk
    Abbey sales staff doctored their customers' pay details to speed through mortgage applications in the run-up to the property crash, the Mail has learned. They also flouted internal controls by channelling the most attractive mortgage deals through favoured independent brokers.
    Click Here to Read the Full Article

    Source: www.dailymail.co.uk
« First ... < Previous 3 4 5 6 7 Next > ... Last »
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.
 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.98%
  • |
  • 15 Yr FRM 3.23%
  • |
  • Jumbo 30 Year Fixed 3.80%
MBS Prices:
  • 30YR FNMA 4.5 108-20 (-0-02)
  • |
  • 30YR FNMA 5.0 111-07 (-0-01)
  • |
  • 30YR FNMA 5.5 113-05 (-0-01)
Recent Housing Data:
  • Mortgage Apps -1.45%
  • |
  • Refinance Index 0.26%
  • |
  • Purchase Index -3.68%