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HOT TOPICS: appraisals | MDIA | FHA | R E S P A rule | graveyard | HVCC
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Latest Mortgage News Headlines |
| Last Updated Friday, July 03, 2009 10:44 AM Texas Time |
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Mortgage Video News |
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Monthly bankruptcy filings by consumers dipped. But by all other measures -- bankruptcies continued to increase at an unrelenting pace. (July 3)
Six small Illinois financial institutions owned by one family were among seven banks seized by bank regulators today. Banks assuming the deposits of the failed institutions paid some hefty premiums. (July 2)
The federal government has released its second multi-million dollar installment from a fund established for mortgage and banking employees laid off in California. (July 2)
GMAC LLC has changed its name and restructured how it is organized. (July 2)
The Commonwealth of Massachusetts has made it tougher to qualify for a mortgage license and handed out hundreds of orders to those who don't comply. Out of nearly 8,000 license applications received by the state since July 1, 2008, nearly 2,000 of the applicants either gave up or were turned down. (July 2)
Mortgage rates appear to be headed lower as the 10-year Treasury yield deflates. (July 2)
The number of people employed by mortgage bankers and servicers increased in the latest monthly employment report from the government. But the increase was not enough to offset mortgage broker job losses. (July 2)
Four appraiser trade groups are calling for the U.S. Department of Housing and Urban Development to lighten up on its fee restrictions for appraisal management companies. The groups claim that AMCs are sacrificing quality on FHA loans for price. (July 1)
Monthly issuance of mortgage-backed securities at the two government sponsored housing enterprises has roughly doubled during the past year, while June volume at the Government National Mortgage Association reached another high. (July 1)
The parent of Beazer Mortgage Corp. has settled allegations of mortgage fraud at the unit. The agreement could end up costing more than $50 million. (July 1)
The maximum loan-to-value on conforming mortgages originated under the Home Affordable Refinance Program has increased 20 percent. In addition, borrowers are being given incentives to pay their loans down faster. (July 1)
Few mortgage-related entities ranked among a new list of the best medium-sized companies to work for. One that did, however, is hiring new employees at a healthy clip. (July 1)
For the second time in less than 30 days, Moody's Investors Service upgraded the servicer rating of LoanCare Servicing Center Inc. (July 1)
A big portfolio of subprime mortgages has been sold by Wells Fargo & Co. (July 1)
Several FHA jobs are open in Michigan, while a Florida-based financial institution is adding servicing and processing positions. A report on Texas employment found activity within the mortgage sector there. (June 30)
JPMorgan Chase & Co.'s banking business has approved more than 100,000 trial loan modifications during the past three months, and the company is pleased so far with first-payment activity. Thousands of new employees have been hired to handle increased modification and origination activity. (June 30)
Federal bank regulators have released details about loan modification activity during the first quarter. Among the findings were a surge in the number of modifications completed, a high rate of re-defaults and better performance on modified loans that are owned by the servicers. (June 30)
Residential delinquency improved during the latest quarter, though serious delinquency deteriorated, according to an analysis of mortgage data from the country's biggest banks. (June 30)
Mortgage insurance defaults increased and new business decreased as policies in force fell for the fifth straight month. (June 30)
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The secretary of the U.S. Department of Housing and Urban Development said the agency plans to hire thousands of new employees during the next few years.
HUD Secretary Shaun Donovan made the disclosure at a HUD summer intern event.
He told the interns that they could not have arrived at a more important time as the housing agency now "literally stands at the forefront of the administration's response to some of the nation's biggest challenges." (June 25)
Lawmakers have introduced federal legislation that would suspend the Home Valuation Code of Conduct.
Rep. Travis W. Childers (D-Miss.) and Rep. George Miller (D-Calif.) introduced H.R. 3044 on Wednesday, the National Association of Mortgage Brokers announced Thursday.
The bill would require an 18-month moratorium on the HVCC. (June 26)
Allegations of mortgage fraud on nontraditional loans have led to a $9 million settlement with 13 states by Taylor, Bean & Whitaker Mortgage Corp. As part of the agreement, the company will implement a federal modification program. (June 22)
Home builders and Realtors claim bad appraisals are stifling the real estate recovery, though appraisers say their reports only reflect further deterioration. As appraisal management and software firms enhance their Home Valuation Code of Conduct offerings, a former state regulator calls the new code a disaster. (June 24)
On May 8, 2009, the Federal Reserve Board issued a final rule implementing changes to the Truth in Lending Act made by the Mortgage Disclosure Improvement Act of 2008. The final rule advances to July 30, 2009, the compliance date for early disclosure requirements adopted by the board in a July 2008 rulemaking, and expands the requirements. (May 11)
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