Revisiting Originator Compensation; Bank of America Faces New Lawsuit; Industry Earnings; Regulatory Conflict
Friday, July 29th, 2011 Posted in Uncategorized | No Comments »Third, regulators say they've identified conflicts between Basel III and parts of the Dodd Frank Act relating to credit rating agencies. (Yes, those rating agencies that mistakenly rated billions of mortgage debt several years ago, and which are providing information about ...
FHFA Sues UBS to Recover GSE Mortgage Losses
Friday, July 29th, 2011 Posted in Uncategorized | No Comments »UBS Americas Inc., several of its subsidiaries, and four former executive officers were sued Wednesday morning in U.S. District court for the Southern District of New York. The Federal Housing Finance Agency (FHFA) brought suit charging violations of securities laws ...
“Qualified Residential Mortgage” on the Hot Seat
Friday, July 29th, 2011 Posted in Uncategorized | No Comments »Early in June we discussed the provisions of QRM (“QRM” stands for “Qualified Residential Mortgage”). It is an issue that just won’t go away, and it did not help matters when the regulators extended the end of the comment period ...
Foreclosure Activity Drops in First Half of Year
Friday, July 29th, 2011 Posted in Uncategorized | No Comments »Almost 85 percent of large cities showed a decrease in foreclosure activity during the first six months of 2011 according to the Mid-year 2011 Metropolitan Foreclosure Market Report released on Thursday by RealtyTrac. This includes the ten cities with the highest foreclosure rate ...
Housing Starts, Permits Show Unexpected Improvement
Sunday, July 24th, 2011 Posted in Uncategorized | No Comments »Driven by a dramatic rise in multi-family construction, U.S. housing jumped unexpectedly to of an annualized rate of 629,000 housing units in June.
Fannie Mae’s HomePath offers incentives to buyers
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »Interested in taking advantage of the current low mortgage rates and housing prices, but aren't sure you can handle the down payment and other upfront costs? You might take a look at buying a foreclosed property through the Fannie Mae ...
No relief soon from rising food prices, Carney warns
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »OTTAWA—Don’t look for relief from skyrocketing food prices any time soon, Bank of Canada Governor Mark Carney says. Carney said Wednesday agricultural prices are up 40 per cent on a year-over-year basis and will continue to get worse in the near ...
Fed Hits Wells Fargo With $85 Million Fine
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »NEW YORK (CNNMoney) -- The Federal Reserve announced a record $85 million fine Wednesday against Wells Fargo for allegedly pushing borrowers with good credit into expensive mortgages and falsifying loan applications. The Fed accused the nation's fourth largest bank by assets ...
Lending Opportunity Seen in Home Rehab Biz
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »Two press releases that came out on Monday may point to a new direction for the residential construction market and perhaps for housing policy.Home builders continue to have little optimism about the new home market according to the National Association ...
Loan Apps: Refinance Demand Jumps, Purchases Down
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »The Mortgage Bankers Association today reported a significant increase in the number of refinance applications taken last week, purchase demand on the other hand declined slightly.The Market Composite Index, which takes both purchases and refinances into account, rose by 15.5% ...
