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WASHINGTON—Congress passed another extension on the $729,750 maximum GSE loan limit cap before leaving town for the November elections. The bill also extends the current maximum loan limit for the Home Equity Conversion Mortgage Program.The timely approval is a relief for lenders who were concerned about possible disruptions in the mortgage market, particularly the “conventional jumbo market.”
October 20 -
Fannie Mae and Freddie Mac are maintaining their ban on loan officers and mortgage brokers getting involved in the appraisal process, even though the Federal Reserve recently loosened its position on the issue.
October 20 -
Fairway Independent Mortgage Corp., Sun Prairie, Wis., has hired mortgage trainer Bliss Sawyer as a senior loan consultant to the company.
October 19 -
U.S. commercial real estate prices fell 3.3% in August, according to Moody’s commercial price indices, to a low not seen since October 2009.
October 19 -
The two subprime residential mortgage-backed securities vintages with relatively poor reputations for performance showed signs of stabilizing in the most recent month, according to Fitch Solutions.
October 19 -
The Department of Housing and Urban Development’s Section 184 Native American mortgage program has just had its most successful year, at nearly a half-billion dollars of home finance to American Indians and Alaska Natives.
October 19 -
Atlanta Federal Reserve president Dennis Lockhart said Tuesday morning that despite rock bottom mortgage rates, housing conditions in his district are not improving much.
October 19 -
MGIC Investment Corp., Milwaukee, had a net loss of $51.5 million for the third quarter, compared with a one-shot net profit of $26.4 million for the second quarter and a net loss of $518 million for the third quarter 2009.
October 19 -
Existing home sales fell 6.4% in September from the previous month, but October could turn out to be a good month, according to RE/MAX, the national realty company.
October 19 -
Bank of America said its mortgage banking income jumped 95% in the third quarter to $1.75 billion, as production margins widened and expenses on representations and warranties declined.
October 19