Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
28,899
# of Forum Posts
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name:
State Name underscore:
State Name dash:
State Name lower underscore:
State Name lower dash:
State Name lower:
State Abbreviation:
State Abbreviation Lower:
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 6 and 1 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.
  • Fri, May 28 2010
  • 11:09 AM » America's Coolest Beach Homes — 2010
    Published Fri, May 28 2010 11:09 AM by CNBC
    America's Coolest Beach Homes — 2010
  • 10:38 AM » Real Estate News: Luxury Sales Bounce Back
    Published Fri, May 28 2010 10:38 AM by Google News
    Here is a look at real-estate news in today's WSJ:
  • 10:38 AM » Economists React: Consumers Saving More Pennies in April
    Published Fri, May 28 2010 10:38 AM by WSJ
    Economists and others weigh in on the flat consumer spending in April amid the increase in personal income.
  • 10:38 AM » FOMC announces tentative 2011 meeting schedule
    Published Fri, May 28 2010 10:38 AM by Federal Reserve
    FOMC announces tentative 2011 meeting schedule
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 10:38 AM » 2008 HMDA Data Revisions Reflect Economic Downturn
    Published Fri, May 28 2010 10:38 AM by www.frbatlanta.org
    Financial Update-Volume 23, Number 2. A Federal Reserve Board article about adjusted Home Mortgage Disclosure Act data finds that the mortgage market in 2008 reflected the economic crisis. One of the most obvious was a sharp drop in reported loan application and origination volumes, which fell sharply.
    Click Here to Read the Full Article

    Source: www.frbatlanta.org
  • 9:51 AM » Secondary Sources: Mortgage Interest Deduction, Yield Curve, Motivation
    Published Fri, May 28 2010 9:51 AM by WSJ
    A roundup of economic news from around the Web.
  • 8:49 AM » Decline in consumer delinquency might prompt Fed to act
    Published Fri, May 28 2010 8:49 AM by www.smartbrief.com
    American Express, Bank of America and other U.S. --
    Click Here to Read the Full Article

    Source: www.smartbrief.com
  • 8:49 AM » OBAMA ADMINISTRATION NAMES C. DONALD BABERS AS HUD'S ACTING SOUTHWEST REGIONAL DIRECTOR
    Published Fri, May 28 2010 8:49 AM by HUD
    WASHINGTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan today named C. Donald Babers to serve as HUD's Acting Southwest Regional Director for a five-state region that includes Texas, Arkansas, Louisiana, New Mexico and Oklahoma. Babers is currently HUD's Deputy Regional Director where he directs operations of the HUD Regional Office in Fort Worth, Texas, and the 11 HUD Field Offices within the five states that comprise the region.
  • 8:49 AM » Are Investors Souring on Housing?
    Published Fri, May 28 2010 8:49 AM by CNBC
    While sales of existing homes shot up across most of the nation in April, they fell in the West, down 6.2 percent.
  • 8:49 AM » Legislation Addresses Housing Production Credit Crisis
    Published Fri, May 28 2010 8:49 AM by NAHB
    Press Release
  • 8:49 AM » SEC Approves Disclosure Rule Changes Affecting HFAs
    Published Fri, May 28 2010 8:49 AM by National Council of State Housing Agencies
    On May 26, the Securities and Exchange Commission approved municipal securities that will require HFAs and other issuers to disclose information on variable rate debt obligations, meet a 10-day timeline for disclosing material events, and follow other new guidelines.
    Click Here to Read the Full Article

    Source: National Council of State Housing Agencies
  • 8:33 AM » Libor for Three-Month Dollar Loans Snaps 13 Days of Increases
    Published Fri, May 28 2010 8:33 AM by Business Week
    The rate banks say they pay to borrow in dollars for three months declined for the first time in 14 days, British Bankers’ Association data showed. The London interbank offered rate, or Libor, for such loans fell to 0.536 percent today, from 0.538 percent yesterday, the BBA said. It was the first drop since May 10.
    Click Here to Read the Full Article

    Source: Business Week
  • 8:33 AM » Is There Any Reason to Subsidize Construction Loans?
    Published Fri, May 28 2010 8:33 AM by Seeking Alpha
    submits: Is Brad Miller — one of the most financially-sophisticated Congressmen in the House — really in which Treasury would provide loan guarantees for homebuilders ? responds as one might imagine: I thought this was from The Onion … unfortunately it is not.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 8:33 AM » Moving on From Fixed Rate Mortgages
    Published Fri, May 28 2010 8:33 AM by Seeking Alpha
    Tom Lindmark submits: has some interesting thoughts on 30-year fixed-rate mortgages: 1. The U.S. is the only country with the 30-year fixed-rate mortgage. Other countries get along fine without it.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • Thu, May 27 2010
  • 4:57 PM » Property Taxes Surprisingly Steady
    Published Thu, May 27 2010 4:57 PM by The Big Picture
    I was just discussing this with a friend in California . . . Tax Policy Center: It is not news that state tax revenues have been absolutely hammered in the current economic downturn. But you may be surprised to learn that one local tax has held up relatively well. It is, of all things, the property tax. How can that be, you ask, if so much of the economic mess was caused by a collapse of a housing bubble? > > Source: Kim Rueben Tax Policy Center, Wed 26 May 2010 http://taxvox.taxpolicycenter.org/blog/_archives/2010/5/26/4538181.html
    Click Here to Read the Full Article

    Source: The Big Picture
  • 4:57 PM » IMF Economist Argues Home Prices Still Have Far To Fall
    Published Thu, May 27 2010 4:57 PM by WSJ
    Dour predictions about the housing market aren't the norm anymore, as many economists have grown optimistic that home prices will begin rebounding strongly next year.
  • 2:37 PM » Did You Know: Home Remodeling Forecast
    Published Thu, May 27 2010 2:37 PM by Google News
    Did you know that, according to the Leading Indicator of Remodeling Activity, home remodeling will rebound by almost 5 percent in 2010?
  • 2:21 PM » The Home-Buyer Tax Credit May Have Actually Worked
    Published Thu, May 27 2010 2:21 PM by Google News
    Did the last round of the home-buyer tax credit have a bigger impact than analysts had previously anticipated?
  • 12:47 PM » Deputy Secretary Neal Wolin Remarks before the Financial Industry Regulatory Authority's
    Published Thu, May 27 2010 12:47 PM by US Treasury
    May 27, 2010 TG-725 Deputy Secretary Neal Wolin Remarks before the Financial Industry Regulatory Authority's Annual Conference Baltimore, MD As Prepared for Delivery Thanks very much for that kind introduction. It's a pleasure to be here this morning. Just under a year ago, in the wake of the worst financial crisis since the Great Depression, President Obama put forward a comprehensive, detailed proposal to reform financial regulation. The proposal was designed to address the key causes of the crisis; to lay the foundation for a safer, more stable financial system; and to make sure that the financial system works for American families and small businesses, not just for the largest financial firms. Last December, under the leadership of Chairman Frank, the House passed a strong bill, substantially consistent with the President's plan. And last week, under the leadership of Chairman Dodd, despite formidable procedural obstacles, the Senate passed its own bill – also strong, and also substantially consistent with what the President put forward. There is plenty of work left to do. The House and Senate bills, while both strong and broadly consistent, have their differences. Those differences will have to be reconciled in conference in the coming weeks. But while there may be uncertainty about the ultimate fate or form of one particular provision or another, the mystery is for the most part gone. The parameters of the ultimate financial reform bill are largely set. So I'd like to start by walking through, briefly, some of the key elements of the House and Senate bills – those places where it is now clear, I think, what the final financial reform bill will accomplish. When the President signs a financial reform bill, it will put an end the corrosive, costly problem of "Too Big to Fail." Under both the House and Senate bills, the federal government will get the tools to shut down large, failing financial firms in an orderly way – without putting the...
  • 12:46 PM » Mortgage Lenders Seek Relief From Forced Bad Debt Repurchases
    Published Thu, May 27 2010 12:46 PM by Business Week
    Mortgage lenders are seeking relief from Fannie Mae and Freddie Mac as the government-supported companies force them to buy back more soured debt, said John Courson, president of the industry’s largest trade group.
    Click Here to Read the Full Article

    Source: Business Week
  • 12:30 PM » Federal Reserve to Hold Public Hearings on HMDA Changes
    Published Thu, May 27 2010 12:30 PM by www.frbatlanta.org
    Financial Update-Volume 23, Number 2. A series of public hearings on potential revisions to the Home Mortgage Disclosure Act will be held this summer. Interested parties including consumers, community and consumer organizations, and mortgage lenders will participate in the hearings.
    Click Here to Read the Full Article

    Source: www.frbatlanta.org
  • 10:55 AM » With credit scores, it should be equal access for all
    Published Thu, May 27 2010 10:55 AM by Washington Post
    Why in the world would Congress provide some consumers with free access to credit scores, but not others? - - - -
    Click Here to Read the Full Article

    Source: Washington Post
  • 7:48 AM » S&P Won't Downgrade Banks Yet
    Published Thu, May 27 2010 7:48 AM by WSJ
    Standard & Poor's said it wouldn't immediately downgrade major U.S. banks in response to passage of a Senate financial-overhaul bill and may take months to evaluate bank ratings even after passage of a final bill.
  • 7:48 AM » Mortgage Rates Fall to 4.8%, Home Buyers Still Scarce
    Published Thu, May 27 2010 7:48 AM by Google News
    Mortgage rates fell again last week, sending refinancing applications up. But in a sign that the housing market may be stumbling through a stimulus-induced hangover, new-purchase applications also fell again to a 13-year low.
  • 7:48 AM » Ron Paul Wants to Resurrect the Homebuyer Tax Credit
    Published Thu, May 27 2010 7:48 AM by Seeking Alpha
    Tom Lindmark submits: Monday I wrote a on the existing home sales report and said I was going to go out on a limb and suggest that Tax Credit lll might come about if the housing market did start to tank. Looks like it wasn’t all that dangerous a limb to climb out on. contains a press release proposing to make the tax credit permanent:
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 7:48 AM » Housing: Desperation Hides Behind a Mask of Confidence
    Published Thu, May 27 2010 7:48 AM by Seeking Alpha
    submits: New Observations estimates excess inventory for sale equals 1.4 million units with over 4-million homes on-the-block, a figure hovering just 11 percent below peak-crash inventory, while at the very same time the realtors’ chief economist forecast Monday that “the housing price correction appears essentially over.” A respectable 521,000 units sold in April, yet inventory for sale increased by 418,000 units. On average inventory is 2.66 million units and currently 4.04 million homes are for-sale (Please see the chart nearby of units for sale. The red line represents an average. Click image for a large view.). Inventory increased to 8.4 months of supply versus the long-run average of 5.8 months and the recent low of 6.5 months last November. The crash high inventory was 11.3 months in April 2008. "Although inventory levels remain above normal and much of the gain last month was seasonal, the housing price correction appears essentially over,” said Lawrence Yun, chief economist for the National Association of Realtors (NAR). “In fact, a majority of the markets have seen price gains recently. A return to old-fashioned responsible lending and buying will help the housing market avoid disruptive and painful bubble-bust cycles." Last week the Mortgage Bankers Association said that a record 4.63 percent of homes are in foreclosure. Foreclosures are a major contributor to falling prices. On the positive side of the ledger, interest rates are outstanding right now and affordability has dramatically improved following a 30 percent national loss in home prices which started four years ago. The national median existing-home price was $173,100 in April, up 4.0 percent from April 2009. Distressed sales accounted for 33 percent of the total and all-cash sales clocked in at 250 percent of their normal tally. "Buyers are focused on finding the right house and taking advantage of favorable affordability conditions,” said Vicki Cox Golder, NAR president and owner...
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 7:48 AM » FASB might require banks to report fair value of loans
    Published Thu, May 27 2010 7:48 AM by www.smartbrief.com
    The Financial Accounting Standards Board proposed rules that would force banks to use fair value, rather than an adjustment o --
    Click Here to Read the Full Article

    Source: www.smartbrief.com
  • 7:48 AM » The Housing Bubble Bottom
    Published Thu, May 27 2010 7:48 AM by feeds.wealthdaily.com
    Like the piss-ants in my kitchen, my pal Charlie is a nuisance that I just can't seem to shake. A real estate agent by trade, he crawls into my life every time there is even the slightest whiff of good news in the housing market. Much like those bothersome ants, he latches on to any available grain of sugar, no matter how tiny. The result has been a four-year running dialog in which I have squashed him every single time... Advertisement The Last American Oil Boom in Your Lifetime For the first time in nearly twenty years, the U.S. finally managed to increase oil production... And it wasn't the once-mighty oil fields of Texas that suddenly sprung to life. It's being hailed as America's last oil boom, and it's the reason one state's oil production jumped almost 30% in just one year. to find out how this little-known oil field is starting to attract world-wide attention... But the truth is that I have to hand it to him... Despite all of these drubbings, Charlie is as persistent as the sunrise. He's sort of like that ant trying to move the rubber tree plant; he's got high-apple-pie-in-the-sky hopes. And he keeps calling me and calling me. He called me this morning delivering a rant that sounded like it came straight from spin zone at the National Association of Realtors. "Steve," he said, "you're fighting a losing battle. I hate to break it to you, but the housing bottom has come and gone... " On and on he went. It was like having Lawrence Yun on line 1. Finally, I just couldn't take it anymore. "Charlie," I said, "In case you haven't figured it out yet, housing is between a rock and a hard place right now." Here's why... The Elusive Housing Bubble Bottom The dirty little secret among Realtors like Charlie and mortgage brokers right now is this: all of them lose sleep over the nightmare of higher rates. The reason for this, of course, is pretty simple. In a higher rate environment — say...
    Click Here to Read the Full Article

    Source: feeds.wealthdaily.com
  • 7:48 AM » HUD CHARGES BUFFALO AREA REAL ESTATE COMPANY AND BROKER FOR DISCRIMINATING AGAINST FAMILIES WITH CHILDREN
    Published Thu, May 27 2010 7:48 AM by HUD
    WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging an Amherst, New York real estate company and one of its brokers with discriminating against families with children in violation of the Fair Housing Act. Specifically, HUD's Charge of Discrimination alleges that RE/MAX North's broker refused to rent an apartment to a family with children and refused to show another apartment to a family looking for housing.
  • 7:48 AM » Are Home Builders on a Cliff?
    Published Thu, May 27 2010 7:48 AM by CNBC
    The New Home Sales report today was nothing short of exceptional. The number beat all expectations and beat them by a lot. So are the builders back? Not so fast.
  • 7:33 AM » Toll Brothers: Orders Up, Cancellation Rates Way Down, Toll buying Lots Again (Uh, Oh!)
    Published Thu, May 27 2010 7:33 AM by Calculated Risk Blog
    This post is from housing economist Tom Lawler: Toll Brothers, the self-proclaimed “leading builder of luxury homes,” reported that net home contracts totaled 866 in the quarter ended April 30th, up 40.9% from the comparable quarter of 2009. Gross orders were up 16.6% from a year ago, while sales cancellations were down 71.4%. The company’s sales cancellation rate expressed as a % of gross orders was 5.3%, the lowest rate since the third quarter of FY 2005, and close to the time that Toll CEO Robert Toll made his infamous comment in the summer of 2005 that “(w)e’ve got the supply, and the market has got the demand; it’s a match made in heaven” right before housing demand started to fall. Home deliveries last quarter totaled 543, down 16.2% from the comparable quarter of last year, while the company’s order backlog as of 4/30/10 was 1,738, up 9.9% from a year ago. The company’s increase in orders came despite a 21% drop in Toll’s community count from last year. In its press release, new Toll CEO-designate Doug Yearley, Jr. noted that “with demand increasing in many areas, we are now focused on growth,” and said the company increased its lot count for the first time in four years – scaring more than a few folks. Click on graph for larger image in new window. [This graph], by the way, is some history of Toll’s land/lot position from one of its , with one of the most misleading headlines known to man. This chart, as well as Bob Toll’s statements, highlights how Toll completely and totally misread the housing markets during the middle of last decade, accelerating land/lot acquisitions right near the peak – a move that eviscerated shareholders, though the company’s relative low leverage saved it from extinction. What scared folks is that the company’s new push to growth was based on an assessment, echoed by Bob Toll in the press release, that the rebound in orders/demand was not simply the result of the home buyer tax credit, but was also driven “by an increase in confidence...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Wed, May 26 2010
  • 2:37 PM » New Home Prices: Median Lowest since 2003
    Published Wed, May 26 2010 2:37 PM by Calculated Risk Blog
    As part of the new home sales report, the Census Bureau reported that the median price for new homes fell to the lowest level since 2003. Click on graph for larger image in new window. This graph shows the median and average new home price. It appears the builders sold at a lower price point in April, and that helped boost sales. This makes sense since many of the buyers were trying to take advantage of the housing tax credit (and probably using FHA insurance). Since the modification programs and the delays in foreclosure limited the number of distressed sales - many buyers at the low end found buying a new home easier than buying an existing home. The second graph shows the percent of new home sales by price. Half of all home sales were under $200K in April - tying Jan 2009 as the highest level since 2003 (there was panic selling in Jan 2009). And excluding Jan 2009, this is the highest percentage under $300K since May 2003 - and the highest under 400K since April 2003. To summarize: the homebuilders sold 16,000 more units in April 2010 than in April 2009 - probably because of the tax credit, and at lower prices - and now sales will decline sharply in May probably close to the 34,000 units sold in May 2009.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:37 PM » Housing’s New Normal: Wait and See
    Published Wed, May 26 2010 2:37 PM by Google News
    The housing market—especially for new homes—is having a great Wednesday. But storm clouds loom.
  • 2:37 PM » Why Mortgage Lenders Went Wild
    Published Wed, May 26 2010 2:37 PM by Google News
    Mortgage defaults have soared because lenders relied on flawed risk models during and allowed themselves to be lulled by a strong economy into a false sense of security, a new study concludes.
  • 11:15 AM » Geithner Urges Europe to Reassure Markets
    Published Wed, May 26 2010 11:15 AM by WSJ
    U.S. Treasury Secretary Timothy Geithner, meeting in London, said the principles of Europe's proposed financial overhaul "have the right elements," but he urged action to assure markets.
  • 10:43 AM » Large San Francisco Apartment Complex in Default
    Published Wed, May 26 2010 10:43 AM by Calculated Risk Blog
    From the San Francisco Chronicle: (ht David) The commercial real estate meltdown has caught up with one of the largest apartment complexes in the country -- San Francisco's Parkmerced. The complex's owner is due to announce that the loan on the property is in default. "Parkmerced and its lenders engaged a special servicer (a company that specializes in handling loans in default) to support the payments of the loan on the property," said Seth Mallen, an executive vice president of Stellar Management, a co-owner of Parkmerced, in a statement to be released Wednesday. ... The 116-acre complex, purchased by Stellar Management and another real estate investment firm, Rockpoint Group, has 1,683 rental units contained in 11 residential towers. Blocks of two-story garden townhouses account for an additional 1,538 apartments. The beat goes on ... just yesterday Bloomberg reported: Defaults on apartment-building mortgages held by U.S. banks climbed to a record 4.6 percent in the first quarter, almost twice the year-earlier level, as more borrowers failed to repay debt approved near the market peak, said Real Capital Analytics Inc. in a report. Defaults on so-called multifamily mortgages rose from 4.4 percent in the fourth quarter and from 2.4 percent during the same period in 2009 ...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:43 AM » Real Estate News: Home Prices Weak, PE Firms Return Money to CRE Investors
    Published Wed, May 26 2010 10:43 AM by Google News
    Here is a look at real-estate news in today's WSJ:
  • 8:56 AM » July 4 - Independence Day or Doomsday for Appraisers?
    Published Wed, May 26 2010 8:56 AM by www.orep.org
    Editor’s Note: It may be do or die time for appraiser independence as the Financial Reform Bill enters a House-Senate Conference Committee. Find a link below to contact your member(s) of Congress. Find additional background on these issues in the new print edition of Working RE, currently in the mail to 80,000 appraisers, including every member [...]
  • 8:56 AM » Global Cooperation Key to Recovery, Says IMF Chief
    Published Wed, May 26 2010 8:56 AM by IMF
    The world avoided a great economic depression and will recover thanks to close cooperation from the international community, the IMF's Managing Director Dominique Strauss-Kahn said in Sao Paulo on May 25.
  • 8:56 AM » New Jobs Bill Contains NCSHA-Supported Priorities
    Published Wed, May 26 2010 8:56 AM by National Council of State Housing Agencies
    House and Senate negotiators have included several NCSHA priorities in the , which the House is planning to take up soon.
    Click Here to Read the Full Article

    Source: National Council of State Housing Agencies
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 4.16%
  • |
  • 15 Yr FRM 3.29%
  • |
  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
  • 30YR FNMA 4.5 107-23 (-0-06)
  • |
  • 30YR FNMA 5.0 110-06 (-0-03)
  • |
  • 30YR FNMA 5.5 111-02 (-0-02)
Recent Housing Data:
  • Mortgage Apps 2.43%
  • |
  • Refinance Index 4.14%
  • |
  • FHFA Home Price Index 0.67%