Quote of the Week

"Too bad flood insurance does not pay off loans that are under water."
John McDermott, Loan Closer columnist

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Today in Mortgages

  • FHFA Sets New Affordable Housing Goals for GSEs

    National Mortgage News | September 2

    The GSE regulator Thursday issued new affordable goals that Fannie Mae and Freddie Mac are expected to meet this calendar year.

  • Warehouse Lending Chief Out at Southwest Securities

    National Mortgage News | September 2

    David Frase, executive vice president in charge of warehouse lending at Southwest Securities FSB, Dallas, has left the company, industry officials confirmed to National Mortgage News.

  • MBA: Commercial Delinquency Rates Mixed

    National Mortgage News | September 2

    Delinquency rates on commercial mortgages were mixed in the second quarter. The rate on banks' commercial and multifamily mortgages appears to have reached a plateau, while the delinquency rate for loans in commercial securities continued to climb during the period, according to the latest data from the MBA.

  • Pending Home Sales Rise but NAR Not Optimistic

    National Mortgage News | September 2

    The National Association of Realtors' gauge of future home sales rose 5.2% in July after falling 28% since April when two federal tax credits for home buyers expired.

  • Credit Union Will Give Away Foreclosed Home

    National Mortgage News | September 2

    CP Federal Credit, Jackson, Miss., will give away a foreclosed home on Friday during a noon ceremony at its headquarters, as part of its "Wish Upon A Home" giveaway program.

  • REBNY Supports Amendments to Disclosure Law

    National Mortgage News | September 2

    New York State Governor David Paterson has signed into law amendments to the state’s real estate agency disclosure law to take effect on January 1, 2011, which will permit consumers to give their advance consent to dual agency representation.

  • Fixed Rates Hit More Record Lows

    National Mortgage News | September 2

    Fixed-rate mortgages as well as the five-year adjustable rate loan tracked by Freddie Mac continue to reach record lows.

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Editor's Choice

Fannie Holds Line on Servicer Delays of Foreclosures

National Mortgage News | September 2 | Free with Registration

Fannie Mae wants out of its defaulted residential mortgage holdings as quickly as possible and is warning loan servicers not to stand in its way.

Jumbo Production Increases But Secondary Sales Don’t

National Mortgage News | September 1 | Free with Registration

Jumbo loan production—in particular non-GSE jumbos—has increased nicely the past few quarters, but it appears that hopes for a revival in the securitization market for these mortgages may be stillborn.

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Other Voices

  • Implementing Dodd-Frank to End Too Big To Fail

    National Mortgage News | September 3

    To fully end "too-big-to-fail" we need to make our financial system safer for failure. We cannot rely on the hope of perfect foresight—whether by regulators, or by managers of firms, private sector gatekeepers, or other market participants. Financial activity involves risk, and no one will be able to identify all risks or prevent all future crises.

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Blog of the Week

  • Jon Kempner Come on Down!

    What We're Hearing | August 27

    THIS JUST IN: He's back! That would be Jonathan Kempner, former president of the Mortgage Bankers Association, who left the trade group a little more than two years ago, just as the mortgage industry was crumbling. But let me clarify: Jon is back, but not in mortgages.

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