http://www.nationalmortgagenews.com/ The current headlines from National Mortgage News en Copyright 2009, SourceMedia, Inc. and National Mortgage News. All rights reserved. Fri, 3 Jul 2009 20:45:02 EDT andras.malatinszky@sourcemedia.com http://www.nationalmortgagenews.com/images/nmn_logo.jpg http://www.nationalmortgagenews.com/ 300 100 http://www.nationalmortgagenews.com/#1 Fannie Mae and Freddie Mac have received the green light from their regulator to refinance underwater homeowners with loan-to value ratios as high as 125%. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550400 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#2 Industry groups are backing an Obama administration plan to simplify mortgage disclosures and make them more consumer friendly but first the trades want the Department of Housing and Urban Development to kill a Real Estate Settlement Procedures Act rule that is due to go into effect Jan. 1, 2010. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550401 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#3 The Department of Housing and Urban Development is revising its appraisal policies on Federal Housing Administration-insured loans with respect to appraisal management companies, according to an agency spokesman. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550402 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#4 The Title/Appraisal Vendor Management Association has sent a three-page letter to the National Association of Mortgage Brokers stating its attacks on appraisal management companies in the fight over the Home Valuation Code of Conduct are baseless. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550403 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#5 The majority of experts are divided as to whether the downward trend seen in long-term mortgage rates this week will continue or stabilize, according to a Bankrate survey released July 2. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550404 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#6 Beazer Homes USA Inc., Atlanta, has agreed to pay the United States $5 million, plus contingent payments of up to $48 million to be shared with victimized private homeowners, to resolve allegations that it and Beazer Mortgage Corp. were involved in fraudulent mortgage origination activities in connection with federally insured mortgages. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550405 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#7 In spite of seeing an uptick in business because of the refinance boom during the first quarter, according to data collected by the American Land Title Association, title underwriters had an operating loss of $127.5 million and a net loss of $117.4 million for the first quarter 2009. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550406 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#8 PennyMac, the mortgage vulture fund founded by a former top executive at Countrywide Financial Corp., is sitting on top of unrealized losses of $7 million, according to documents filed with the Securities and Exchange Commission. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550407 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#9 The California State Teachers' Retirement System is searching for a master servicer for its home loan program. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550408 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#10 Mortgage industry employment fell by 600 full-time employees in May but the government jobs report shows that lenders added 2,900 new workers to their payrolls while 3,500 mortgage brokers left the industry. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550409 2009-07-02 13:34:19 http://www.nationalmortgagenews.com/#11 The real estate business is one of the few bright spots in the Monster Employment Index for June, the online job search website said. http://www.nationalmortgagenews.com/premium/archive/?ts=1246550410 2009-07-02 13:34:19