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Freddie Mac on Monday said next week it expects to offer to the market via a dealer syndicate its first-ever offering of structured pass through certificates backed only by multifamily mortgages with seven-year original terms.

Mortgage bankers are expected to write $322 billion worth of FHA-backed loans in the coming fiscal year, according to updated budget projections made by the Department of Housing and Urban Development.

Kondaur Capital Corp., an active player in the nonperforming loan market, Monday slashed its staff by 39%, saying it is having a hard time finding enough available product to purchase.

A pickup in CMBS issuance is giving the market a much-needed liquidity boost, but underwriting standards are slipping as sponsors scramble to find enough collateral for deals, which are drawing investors looking for extra yields.

Given the high expectations, and long wait, surrounding the Obama administration's proposal to create a new housing finance system, it was likely inevitable that it would disappoint. Critics said the plan was tepid, scant on key details and, in the words of Sen. Richard Shelby, "lacked a sense of urgency."

Deutsche Bank filed an S-3 with the Securities and Exchange Commission (SEC) to issue a commercial mortgage-backed security deal.

The National Federation of Community Development Credit Unions is exploring whether a federal bond program could be used as a funding source for long-term assets and to bolster secondary capital for Community Development Financial Institutions.

There was a 21% increase in homes valued at $1 million or more sold in California in 2010 over the previous year, according to DataQuick Information Systems, La Jolla, Calif.

The White House wants to extend the tax deductibility of mortgage insurance payments by consumers.

Bad: When a newspaper ridicules your CEO for wrongful foreclosures.Worse: When the foreclosure was initiated by another company.