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Conference CalendarJanuary 22 - 23 March 15 - 19
Featured Event12th Annual Mortgage Technology ConferenceJoin your fellow mortgage lenders, servicers and investors to learn about the tools you need to succeed in this ever-changing market at SourceMedia's 12th Annual Mortgage Technology Conference on January 22-23, 2009 at the Palms in Las Vegas, Nevada. Please visit the conference website for more information.
Your thoughts?How important is investing in fraud detection technology nowadays?
Featured Grapevine ThreadThe Grapevine discusses an important upcoming change to the FHA down payment requirements.Read more. Mortgage Industry Buyer's GuideThe 2008 edition of the Mortgage Industry Buyer's Guide has been launched. Featured Buyer's Guide Category:Wholesale- ConformingLooking for a conforming lender? For online listing info for the Buyer's Guide, Call Steve at 866-752-7966 or send an email to steven.gallego Blog of the WeekJoin the Discussion!Each week we will feature a mortgage blog from one of our writers on various topics of interest. To add your two cents, click on the link below, scroll down to the bottom of the blog, type into the comments box, and click submit. NMN editor Mark Fogarty blogs about mortgage-related topics inspired by his travels. Click here to read the details. |
Daily Briefing for November 21, 2008
NMN Survey: 3Q Fundings Hit Eight-Year Low, Down 45%
Mortgage bankers originated just $333 billion in one- to four family loans in the third quarter, the industry's worst showing since the fourth quarter of 2000, according to exclusive survey figures compiled by National Mortgage News and the Quarterly Data Report. Read more...
Report: Regional Banks Most Exposed to CRE
Regional banks are the most exposed to a slide in commercial real estate values and have been hurt by the Treasury's recent decision not to buy troubled mortgage assets under the 'TARP' program, according to a new report issued by Citigroup Global Markets. Read more...
Committee Chair Frank Wants MI Premiums Cut on 'H4H'
House Financial Services Committee chairman Frank Barney, D-Mass., is urging the Treasury Department to reduce the cost of mortgage insurance premiums on the FHA's "Hope for Homeowners" program by using money from the Troubled Asset Relief Program. Read more...
Thrift Originations Fall 49% in 3Q
Federally regulated thrifts -- excluding the failed Washington Mutual and IndyMac -- originated $66 billion in one- to four-family loans in the third quarter, a 49% decline from the same period last year, according to new figures released by the Office of Thrift Supervision. Read more...
GSEs Suspend Foreclosures for Holidays
Fannie Mae and Freddie Mac are suspending all foreclosures and evictions of homeowners during the holiday season -- November 26 to January 9 -- while their servicers get up to speed on a new streamlined loan modification program favored by the Treasury Department. Read more...
FDIC Offers Loan Mod 'Kit' to Servicers
The Federal Deposit Insurance Corp. is offering to share its playbook on streamlined loan modifications with all residential servicers. Read more...
Goldman: 10-Year at 2.75% by end of 1Q
Goldman Sachs predicted on Friday that the yield on the 10-year Treasury -- which mortgages are pegged to -- could fall to 2.75% by the end of the first quarter. Read more...
Average 30-year FRM Rate Falls
The average rate on a 30-year fixed rate mortgage fell to 6.04% during the week ending November 20 from 6.14% the week before and 6.20% the same week a year ago, according to Freddie Mac. Read more...
Freddie Facing Delisting on the NYSE
Freddie Mac said in a public filing Friday it received notice that it may lose its listing on the New York Stock Exchange because its share price has been under $1 for more than 30 days. Read more...
Editor's ChoiceDisposing of REO PropertiesPanelists at the recent REOMAC Fall Conference stressed creative ways to market REO homes and bring exposure to these properties in local markets.
Preying on the Weak: The Rise in Predatory LendingThe latest research report from Richard Beidl on Predatory Lending surveys the scope of the problem, discusses lender approaches and examines the effects of laws at the local level.
Take advantage of Richard Beidl's immeasurable knowledge on this topic. Click here to purchase.
Other VoicesThis story is from our sister publication, American Banker Viewpoint: We Cannot Wait For the Perfect Mortgage FixThe financial crisis we have been living through has an all-too-human face. Whether it is people out of work, pensions undermined by severe investment losses, or the nights and weekends many financial services executives have devoted to fixing the problems, almost everyone in finance feels the pain. What many of us in finance do not feel, at least directly, is the loss of a home. Yet for many Americans, losing a home is a real and tragic event. Too many Americans have seen their neighborhoods damaged and watched their home values plummet as boarded-up, foreclosed houses sprout up on every street and in some cases at multiple addresses on the same street. Read more...Today's Data Pick
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