Industry News

The U.S. Department of Treasury has a program called the Build America Bonds program  which provides funding for state and local governments at lower borrowing costs for community projects projects such as construction of schools and hospitals, development of transportation infrastructure, and wa...

In a Washington news release today, HUD announced it's  NEW FHA-MAKING HOME AFFORDABLE LOAN MODIFICATION .  Now loans backed by the Federal Housing Administration (FHA) will be eligible for payment reductions similar to the Obama administration's loan modification program currently in use on Conv...

Home sales create jobs.   The construction and sale of homes generate revenues for the home builder, contract labor, and retailers.  After a home is sold, the new homeowner purchases appliances and furniture to make the house a home. Housing activity impact on the local (and state) economy is sub...

The pressure is on lenders to modify mortgages but lenders are not giving easy handouts. There are varying degrees of distressed borrowers. Modification only makes sense for a lender if the borrower cannot make payments without it, but will be able to keep up with a lower mortgage payment.  While...

Mortgage prices are lower (interest rates rates slightly higher) this morning ahead of this week's large Treasury note auctions, which will take place over the next three days. National Home Sales - Numbers are improving.  Credited for drop in inventory are investors buying discounted homes, buil...

First the good news.  Home sales activity released today by the National Association of Realtors: Home owner Vacancy rate has dropped 2.5% (from 2.7% in 1st Qtr ‘09).  Existing home sales rose in June 3.6% over the previously month.  The median sales price increased in June compared to May to $18...

According to information released by the Federal Housing Finance Agency, the house price index of single family homes sold to Fannie Mae and Freddie Mac increased 0.9 percent during the month of May. This is the third monthly increase this year. Also this week, First American Core Logic released ...

The Federal Reserve Board has announced changes to consumer protection regulations for mortgages that will take effect on July 30, 2009. The Federal Reserve Board approved final rules that revise the disclosure requirements for mortgage loans under Regulation Z (Truth in Lending) . Regulation Z i...

Evidence that real estate values are starting to stabilize in some markets can be found in Genworth Mortgage Insurance company's latest bulletin and became effective effective July 20th.  Genworth removed 136 Metropolitan Statistical Areas (MSAs) from the declining markets / distressed markets li...

250 DOW improvement points in one day.  Release of the Fed's open market committee minutes revealed a forecast of higher (than expected) economic growth.  Fixed income MBS markets suffered today as the money flowed into stocks.  Good economic news over the past two days has worsened mortgage rate...