Interest Rate Markets November 30, 2008
→ MBA Study Shows Government-insured Share Of Mortgage Applications Continues To Increase
The government-insured share of mortgage applications continues to grow relative to conventional mortgage applications, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. Of all mortgage applications taken during the month of October 2008, 32.9 percent were for government-insured loans (consisting mainly of FHA loans) compared to 10.3 percent in October 2007. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/27/2008
→ MBA's Courson Issues Statement On Obama Economic Team
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) today issued the following statement following President-elect Obama's announcement of his economic team. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 11/27/2008
→ Mortgage Applications Increase Slightly In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/27/2008
→ Credit News - November 26, 2008
Extra!! Big News, Greater Thanks Extra!! -- Boulder Mortgage Bank,Lou Barnes,Boulder Colorado 11/27/2008
→ Fannie Mae to Suspend Foreclosures Until January 2009 While Streamlined Modification Program is Implemented
In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE:FNM) today issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009. -- Fannie Mae,Brian Faith,Washington Dc 11/24/2008
→ Introducing the First Nationwide Program to 'Green' Foreclosed Properties
Viridian Asset Management, LLC (http://www.viridianasset.com/) today announced the national launch of its groundbreaking BankonGreen(TM) program designed to bring "green," energy-efficient rehabilitation to properties owned by banks and financial institutions. -- Viridian Asset Management, LLC,c Shelton,Atlanta Ga 11/24/2008
→ Municipal Market Year in Review: The Days of Easy Money and Simple Approaches are Behind Us
This article was written by Jeffrey Small, a Managing Member of Capitol Public Finance Group, LLC., an independent public finance consulting firm located in Sacramento, California. -- Capitol Public Finance Group, LLC,Jeffrey Small,Sacramento Ca 11/24/2008
→ Facing global challenges: supporting people through difficult times
London, 24 November/GNN/ -- -- HM REVENUE AND CUSTOMS PRESS OFFICE,Press enquiries:,Uk 11/24/2008
→ MismoŽ, Esra And Alta Release White Paper Confirming The Legality Of Enotes
MISMO, the not-for-profit data standards subsidiary of the Mortgage Bankers Association (MBA), today released a joint white paper along with the Electronic Signature and Records Association (ESRA) and the American Land Title Association (ALTA), entitled Case Closed: eNotes Are Legal -- An Analysis of eNote Enforceability Nationwide. The white paper addresses the legality of electronically-signed promissory notes, commonly referred to as eNotes, which are central to the eMortgage process. -- Mortgage Bankers Association of America,Jason Vasquez,Washington District of Columbia 11/24/2008
→ MBA's Courson Welcomes Additional Flexibility On Fha's Hope For Homeowners Program
John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA), today issued this statement following the announcement by Secretary of Housing and Urban Development (HUD) Steve Preston of changes to the Hope for Homeowners program to expand eligibility and lower costs on borrowers and lenders who participate. -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/20/2008
→ Mortgage Rate Volatility Tapers Off: Rates Stay Relatively Stable During Latter Part of Last Week
Rates Hover Around 6 Percent, According to Zillow(R) Mortgage Rate Monitor -- Zillow.com,Katie Curnutte,Seattle Wa 11/20/2008
→ Comptroller Dugan Says CRA Not Responsible for Subprime Lending Abuses
Comptroller of the Currency John C. Dugan said he categorically disagrees with suggestions that the Community Reinvestment Act is partly responsible for the ongoing credit crisis. -- Office of the Comptroller of the Currency,Robert M. Garsson,Baltimore Md 11/20/2008
→ ResCap Announces Support for Streamlined Mortgage Modification Plan
The following statement is issued by Residential Capital, LLC Chairman and Chief Executive Officer Thomas Marano in response to the Streamlined Mortgage Modification Plan announced on Nov. 11, 2008. -- Residential Capital, LLC,Jeannine Bruin,Fort Washington Pa 11/19/2008
→ Real Estate CEOs Foresee Dark Clouds on Economic Horizon
Paralyzed Credit Markets, Property Value Expected to Drop Further -- Real Estate Roundtable,Scott Sherwood,Washington Dc 11/19/2008
→ Homeownership Incentives Won't Stimulate Economy, But May Lay Seeds for Another Housing Crisis
Congress Should Focus on Restructuring Mortgages, Not on Housing Oversupply -- National Multi Housing Council,Michael Tucker,Washington Dc 11/19/2008
→ WL Ross & Co. LLC and American Home Mortgage Servicing, Inc. Announce Support of the Streamlined Mortgage Modification Plan
Wilbur L. Ross, chairman and CEO of WL Ross & Co. LLC (WL Ross), and David M. Friedman, president and CEO of American Home Mortgage Servicing, Inc. (AHMSI), issued the following joint statement today in response to the streamlined mortgage modification plan (SMP) introduced on November 11 by the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and the HOPE NOW Alliance. -- WL Ross & Co. LLC,Christine Sullivan,New York Ny 11/19/2008
→ Mortgage Applications Decrease In Latest MBA Weekly Survey
-- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/19/2008
→ MBA's Kittle Testifies Before Senate Judiciary Committee
Says Bankruptcy Cramdown Will Increase Costs for All Borrowers -- Mortgage Bankers Association of America,John Mechem,Washington District of Columbia 11/19/2008
→ Investec Breaks Ground on Gene Autry Plaza, a New $17.5 Million Shopping Center in Palm Springs Anchored by Smart & Final and Staples
Investec Real Estate Companies will break ground on Gene Autry Plaza, a new 60,000 sq. ft. shopping center in Palm Springs, Calif. The new ground-up $17.5 million development, which is located at the southeast corner of Ramon and Gene Autry Trail (Highway 111), will feature Smart & Final and Staples, 11,500 sq. ft. of shop space, and a bronze statue of Gene Autry. Completion is expected in April 2009. The addition of Gene Autry Plaza to Investec`s retail portfolio brings the company`s total to more than 2,000,000 sq. ft. of retail space in California, valued at over $600 million. -- Monaghan Communications,Anne Monaghan,newport beach California 11/18/2008
→ MBA Originations Survey Shows Shift To Fixed Rate And Government Loan Products In First Half Of 2008
Borrowers who took out mortgages in the first half of 2008 showed a strong preference for fixed rate mortgage products due to a decrease in fixed mortgage rates and the continued tightening of lending standards, according to the Mortgage Bankers Association's (MBA's) Mortgage Originations Survey released today. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 11/13/2008
→ Two Premier Providers In The Mortgage Industry Are Joining Forces
MIAC and NYLX join forces to set the standard for best practices in risk management and best execution. -- Mortgage Industry Advisory Corp.,Dan Thomas,New York New York 11/03/2008
→ West Monroe Partners Establishes Troubled Asset Relief Program (TARP) Team
Consultants Experienced in Document Management and Financial Services Operations Help Institutions Comply with Documentation, Data, and Collateral Requirements. -- West Monroe Partners ,Michelle Ryckman,Chicago Il 10/24/2008
→ Enhanced VA Mortgage Options Now Available for Veterans
Of Potential Benefit to Those in Financial Distress -- U.S. Department of Veterans Affairs ,Karen Fedele,Washington Dc 10/24/2008
→ Economic Slump - Not For Some
In These Tough Economic Times, Pre-Paid Legal Services, Inc. Independent Sales Associates Experience Continued Success -- Pre-Paid Legal Services, Inc. ,John Long,Ada Ok 10/23/2008
→ Economic Slump - Not For Some
In These Tough Economic Times, Pre-Paid Legal Services, Inc. Independent Sales Associates Experience Continued Success -- Pre-Paid Legal Services, Inc. ,John Long,Ada Ok 10/23/2008
→ MBA Forecasts Negative Economic Growth Through First Half Of 2009
MBA expects economic growth in the second half of 2008 to be negative and remain negative through the first half of 2009 before a modest recovery according to the latest economic forecast released today by the Mortgage Bankers Association. MBA expects growth to pick up strongly by the end of 2009 and over the course of 2010. MBA expects total residential mortgage production in 2009 to be $1.67 trillion, down from an expected $1.86 trillion in 2008 and $2.3 trillion in 2007. -- Mortgage Bankers Association of America,John Ferber,Washington District of Columbia 10/23/2008