Tue, Sep 25 2007, 7:00 AM
Probably no one who has read a paper or a website in the last 60 days
expected anything different, but the monthly report from the National
Associat...
Mon, Sep 24 2007, 7:00 AM
Foreclosure scammers have a wide variety of modes of
operation and no limit to the kinds of people they target. Particular
favorites are the elderl...
Fri, Sep 21 2007, 7:00 AM
It seemed to smack a bit of desperation at the time, but in hindsight
it appears to look more like marketing genius.
Hovnanian Enterprises, Inc. ...
Thu, Sep 20 2007, 7:00 AM
Thu, Sep 20 2007, 7:00 AM
Housing starts in August hit the lowest level on an
annualized basis since July 1995 The news would have been even worse if
it were not for a subs...
Wed, Sep 19 2007, 7:00 AM
One day after the Fed cut rates and the House of Representatives
approved FHA Reform , the Senate Banking Committee
approved legislation that would...
Tue, Sep 18 2007, 7:00 AM
The Federal Reserve slashed benchmark interest rates
by a half point in an agressive move to prevent the economy from moving
into recession and to...
Mon, Sep 17 2007, 7:00 AM
It is hard to find a tragedy in the world that some heartless rat
can't find a way to exploit and the current and growing incidence of
foreclosures ...
Fri, Sep 14 2007, 7:00 AM
Lawrence Yun, senior economist for NAR said that unusual
disruptions are dampening the outlook for home sales, notably
for August and September. "...
Thu, Sep 13 2007, 7:00 AM
Countrywide issued its operational results for the
month of August and it comes as no surprise that the numbers were down.
Here is a recap of their...
Wed, Sep 12 2007, 7:00 AM
The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications
Survey for the week ended September 7 showed a dramatic drop in the 30-
year FR...
Tue, Sep 11 2007, 7:00 AM
Congress and the Administration may be headed for a clash on yet
another front - the size of Freddie Mac and
Fannie Mae's owned portfolios.
O...
Mon, Sep 10 2007, 7:00 AM
The nation's largest home lender Countrywide Financial
Corporation said it plans to cut up to 12,000 jobs, 20 percent
of it's workforce, over the ...
Mon, Sep 10 2007, 7:00 AM
The National Association of Home Builders ( NAHB ) in
partnership with Bank of America Home Equity recently completed a study
that should be of inte...
Fri, Sep 7 2007, 7:00 AM
Nationally the situation is not as dire as these figures would
indicate. The figures are being driven by what is happening in a few
large states and...
Thu, Sep 6 2007, 7:00 AM
The six big agencies that regulate most of the nation's banking system
issued "guidance" Tuesday encouraging mortgage servicers
to work with borro...
Wed, Sep 5 2007, 7:00 AM
Word came late last week from both the Federal Reserve and the White
House that the federal government does not intend to stand by and watch
the hou...
Wed, Sep 5 2007, 7:00 AM
"Interest rates on conforming long-term fixed-rate mortgages declined
slightly, while rates on one-year adjustable rate mortgages increased by
about...
Fri, Aug 31 2007, 7:00 AM
The OFHEO House Price Index (HPI) usually doesn't get
too much attention (except here where we regard it as the best, or at
least the most interes...
Thu, Aug 30 2007, 7:00 AM
Two executives from the National Association of Home
Builders held a teleconference on the "credit
crunch" on Tuesday. The one hour conference w...
Wed, Aug 29 2007, 7:00 AM
Mortgage rates in general took a fairly substantial dive during the
previous week with longer term rates dropping double digits in most cases
and so...
Tue, Aug 28 2007, 7:00 AM
The Times quoted Moody's Economy.com, a research firm as predicting
that the national median home price will probably not return to its 2007
peak in...
Mon, Aug 27 2007, 7:00 AM
Katrina may have marked the end for this lack of regulation. As has
been widely reported, one victim of the storm was Senator Trent
Lott , the powe...
Fri, Aug 24 2007, 7:00 AM
Sales of new homes improved slightly in July with a
seasonally adjusted annual sales pace of 870,000, up 2.8 percent above
the revised June sales ...
Fri, Aug 24 2007, 7:00 AM
Fitch Ratings announced Thursday that it has revised its Rating Watch
on Countrywide Financial Corp. (CFC) and its related
subsidiaries from "Nega...
Thu, Aug 23 2007, 7:00 AM
Mortgage rates increased in every category last week
according to surveys released by Freddie Mac and by the Mortgage Bankers
Association.
Jay B...
Thu, Aug 23 2007, 7:00 AM
IndyMac Bank announced today that it will resume
originating prime, single-family residential, full doc jumbo loans after
they temporarily reduced ...
Thu, Aug 23 2007, 7:00 AM
Several more big lenders joined the junk pile this week but there was
a piece of good news for the nation's largest mortgage
lender which managed ...
Wed, Aug 22 2007, 7:00 AM
The casualties continue to mount as Lehman Brothers announced today
that it will be shutting down its subprime mortgage lending unit, BNC
Mortgage L...
Tue, Aug 21 2007, 7:00 AM
PBS interviewed homeowners who said that their coverage had been
switched by their company from " full replacement "
to " extended replacement " cov...
Mon, Aug 20 2007, 7:00 AM
Several key players have rung in on the decision by the Office of
Federal Housing Enterprise Oversight (OFHEO) to retain limits on the
mortgage por...
Fri, Aug 17 2007, 7:00 AM
Residential building permits and housing
starts continued to fall in July with the latter measure of the
nation's economic health dropping more ...
Fri, Aug 17 2007, 7:00 AM
As the list of mortgage lenders who have failed, are failing, or are
remaining very quiet about their status continues to grow the addition of
each ...
Thu, Aug 16 2007, 7:00 AM
"Interest rates on prime conforming fixed-rate mortgages eased further
in the past week, according to the Primary Mortgage Market Survey, even
thoug...
Wed, Aug 15 2007, 7:00 AM
A recent survey of recent home buyers conducted by the National
Association of Realtors (NAR) pointed out a bunch of home
features that rank high ...
Tue, Aug 14 2007, 7:00 AM
It has been a long time since we mentioned the government mandated
site at which consumers can obtain one free credit
report a year from each of t...
Fri, Aug 10 2007, 7:00 AM
...The Federal Reserve also stepped up both Thursday and Friday,
pumping billions into the system. The Fed said it stood ready to provide
emergency ...
Thu, Aug 9 2007, 7:00 AM
Some interesting figures have been released by the Mortgage Bankers
Association which has announced that mortgage application
activity increased 8...
Wed, Aug 8 2007, 7:00 AM
American's are hooked on credit card rewards and
while those that give consumers free airline miles are pretty old hat,
lenders are constantly com...
Fri, Aug 3 2007, 7:00 AM
We don't usually cover the monthly report on pending home sales issued
by the National Association of Realtors� (NAR), concentrating instead on
NAR ...
Thu, Aug 2 2007, 7:00 AM
Mortgage rates continued to ebb and flow within a
narrow range last week; most rates are little changed from where they
were in late July 2006.
...
Wed, Aug 1 2007, 7:00 AM
After two days in which trading was suspended on the basis of
information about margin calls, shares in American Home Mortgage
(AHM) were again pu...
Tue, Jul 31 2007, 7:00 AM
The National Association of Home Builders sponsors an economic
publication for the housing industry which publishes at
HousingEconomics.com. In mid-...
Fri, Jul 27 2007, 7:00 AM
It's been a rough week for the housing market. Homebuilder confidence
is in the gutter, existing home sales fell substantially and the bad news
eman...
Thu, Jul 26 2007, 7:00 AM
There was mixed news on the existing housing front in last month. The
monthly survey by the National Association of Realtors (NAR) � showed the
sal...
Wed, Jul 25 2007, 7:00 AM
In perhaps the only good news in the mortgage and real estate worlds
this week, both long and short term interest rates for the week ended
July 19 b...
Tue, Jul 24 2007, 7:00 AM
...on Tuesday Countrywide reported a 33 percent drop in net income for
the second quarter and announced that payments were delinquent on nearly
24 p...
Mon, Jul 23 2007, 7:00 AM
A lot of people are getting nervous about their mortgages, and some
have real reason to worry as they approach the reset
dates on their adjustable...
Fri, Jul 20 2007, 7:00 AM
The homebuilding industry is obviously in distress. But, in testimony
before the House Financial Services Committee, Federal Reserve Chairman
Ben B...
Thu, Jul 19 2007, 7:00 AM
Short-term adjustable rate mortgages (ARMs) were unchanged during the
last week, but longer term fixed and adjustable rate mortgages did move;
if up...
