As we reported yesterday, the Senate has approved the revised H.R. 3221 legislation, and it now needs only President Bush’s signature to be enacted into law. Since its passage on Saturday, many have voiced their support of the measure.

Bid4Assets, an online auctioneer specializing in the sale of distressed properties, has introduced a real estate-only auction Web site called Bid4Homes and a 3in1 Listing Program to accelerate the sale of REO properties.

The Senate approved the revised H.R. 3221 legislation Saturday with an overwhelming 72-13 vote. President Bush is expected to sign the bill into law within days. He withdrew his long-standing threat to veto the bill last Wednesday just hours before it was passed by the House);/*1217271487881*/.

According to RealtyTrac);/*1217272492506*/, an online marketplace for foreclosure properties, national foreclosure activity for the second quarter jumped 121 percent compared to 2007. The company released its Q2 2008 U.

The Certified Mortgage Planning Specialist (CMPS) Institute will host a training event in New York City from July 28-30. The event, CMPS Live!, is co-sponsored by the Maryland Association of Mortgage Brokers.

As DSNews.com reported yesterday, the House approved the Foreclosure Prevention Act of 2008, passing what many in the industry are calling the most important mortgage and housing legislation in a generation.

The Golden State continues to be the hardest hit by deteriorating conditions within the housing market. The number of California homes lost to foreclosure totaled 63,061 in the second quarter of 2008, marking a 20-year high, according to a DataQuick Information Systems %{=text-decoration: underline;}%report released on Tuesday.

The House approved the Foreclosure Prevention Act of 2008 today with a 272-152 vote. As we previously reported);/*1216923501193*/, despite the fact that the bill had passed  through the Senate with broad bi-partisan support, there was concern that it would stall in the House, and might even face a presidential veto.

According to a report released today by ComplianceTech, the majority of subprime-rate loans in 2006 were made to non-Hispanic whites and upper-income borrowers. The company’s findings are contrary to the way subprime lending has been portrayed in recent media coverage and regulatory dialogue, which has defined subprime-rate lending as primarily a minority and low-income issue.

The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending July 18, 2008 today. Not surprisingly, the number of mortgage loan applications is on the decline. Last week’s Market Composite Index, which measures mortgage loan application volume, was 489.