February 2012 - MND NewsWire

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Senator Demands Change on Short Sale Credit Score Effects; Rates Snap Back To Recent Highs; Market Volatility Ahead of the Fed

Published: 5/17/2013

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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HUD Ready with FY2013 Budget

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by Jann Swanson on February 13 2012, 2:37 PM

The Department of Housing and Urban Development (HUD) unveiled its 2013 budget proposal today, asking Congress for about $44 billion. The amount is roughly the same as the amount Congress authorized for the 2012 budget year. In addition, HUD is asking...
AMI Takes Position against Mortgage Servicing Settlement

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by Jann Swanson on February 13 2012, 10:04 AM

In a strongly worded statement on behalf of the American Association of Mortgage Investors (AMI), Jonathan Lieberman, Managing Director of Angelo, Gordon & Company, criticized the recent settlement agreement over alleged mortgage servicing and foreclosure...
Bernanke Speaks to Home Builders on Housing's Role in Recovery

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by Jann Swanson on February 10 2012, 3:03 PM

Federal Reserve Bank Chairman Ben S. Bernanke , speaking to the National Association of Home Builders, said that the typical post-recession behavior of the housing market , resurging to help fuel reemployment and rising incomes, has not played out this...
FHA Claims Against Bank of America / Countrywide Resolved

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by Jann Swanson on February 09 2012, 1:23 PM

Loretta E. Lynch, U.S. Attorney for the Eastern District of New York announced the settlement of claims her office had brought against Bank of America, Countrywide Financial Corporations and some of its affiliates for underwriting and origination mortgage...
NAR: Home Affordability Increases Nationwide

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by Jann Swanson on February 09 2012, 11:46 AM

As prices continued to decline during the fourth quarter of 2011 in most metropolitan areas of the U.S., housing affordability rose due not only to the lower prices but also because of record low interest rates . The National Association of Realtors®...
Mortgage Servicer Settlement Finally Reached

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by Jann Swanson on February 09 2012, 11:23 AM

A final settlement between the nation's five largest mortgage servicers , two federal agencies and 49 of the states' attorneys general (AGs) was announced this morning by officials representing the AGs, the Departments of Justice (DOJ) and Housing and...
"House Lock" - Negative Equity not Hurting Employment Numbers

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by Jann Swanson on February 09 2012, 8:54 AM

" House lock " is not a major factor when it comes to a homeowner's ability to find a job. A working paper commissioned by the Federal Reserve Bank of Boston found that, while many Americans lack mobility because their homes are "underwater" in respect...
Ally said to be Shopping Mortgage Unit

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by Jann Swanson on February 08 2012, 1:58 PM

One of the financial institutions that are party to the reported settlement agreement with the attorneys general of the majority of the states is reportedly on the auction block. According to Bloomberg News, Ally Financial is talking with private equity...
Delinquencies, Foreclosures, and Inventories Improve in CoreLogic Data

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by Jann Swanson on February 08 2012, 11:00 AM

According to CoreLogic, the Santa Ana California based provider of information and business services, there were a total of 830,000 foreclosures nationwide in 2011 compared to 1.1 million in 2010. The most recent monthly numbers, for December 2011, were...
Refinancing Apps Rise on Record Low Rates

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by Jann Swanson on February 08 2012, 8:41 AM

Mortgage rates broke another set of records during the week ended February 3, establishing several new historic lows. In response, the seasonally adjusted Mortgage Bankers Association's (MBA) Market Composite Index, a measure of mortgage application volume...
House Committee Acts on Bill to Protect FHA Fund

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by Jann Swanson on February 07 2012, 4:06 PM

A sub-committee of the House Financial Services committee today approved the FHA Emergency Solvency Act which is intended to shore up the finances of the Federal Housing Administration (FHA). The legislation strengthens FHA's Mortgage Insurance Fund by...
Majority of States Reported on Board with Robo-Signing Settlement

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by Jann Swanson on February 07 2012, 10:27 AM

Details are still sketchy, but apparently a settlement has been agreed upon between five major banks and a majority of the states' attorneys general. The settlement involves Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, and Ally Financial and...
January Housing Scorecard Released by HUD, Treasury

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by Jann Swanson on February 06 2012, 4:01 PM

The Departments of Housing and Urban Development (HUD) and Treasury issued the administration's January Housing Scorecard on Monday. The report is essentially a summary of data on housing and housing finance released by public and private sources over...
Industrial and Multi-family Loans Drive Annual CRE Increase

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by Jann Swanson on February 06 2012, 1:17 PM

The Mortgage Bankers Association (MBA) reports that commercial and multifamily loan originations were down 7 percent in the fourth quarter of 2011 compared to the third quarter but were 13 percent higher than originations in the fourth quarter a year...
Nearly 100 Metro Areas on Improving Market List

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by Jann Swanson on February 06 2012, 1:26 PM

The list of Improving Housing Markets (IHM) maintained by the National Association of Home Builders (NAHB) took another big jump in February, rising from 76 in January and more than doubling the 41 reported in December. There are now 98 metropolitan areas...

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