The U.S. Senate Banking Committee announced Monday that the Committee’s Republican and Democratic leaders have forged an agreement on how to compose a comprehensive piece of housing legislation that will add $300 billion in government-insured loans without spending taxpayer dollars.

A new report from Needham, Massachusetts-based research and advisory firm TowerGroup says asset managers will eventually lose money because of the subprime crisis. TowerGroup believes the impending fallout will occur when investors move their assets to less risky investment structures, a process that, in itself, will hurt asset managers in the form of lost fees.

President George W. Bush briefed the public on the economy and the nation’s current foreclosure crisis after meeting with U.S. Treasury Secretary Henry Paulson on Monday. During his address, Bush said reforms are needed that will expand the role government-sponsored enterprises (GSE) Fannie Mae and Freddie Mac play in stabilizing the housing market.

The National Association for Business Economics (NABE) released its May 2008 survey of analysts on Monday, which says many of these analysts believe the housing market will stabilize while the economy is expected to remain shaky and overall growth stunted.

Hanover Capital Mortgage Holdings, Inc., a real estate investment trust (REIT) that invests in subordinate mortgage-backed securities, announced Monday that the company recorded a net loss of $23.3 million, or $2.

A Philadelphia attorney says a piece of legislation that made it through the state House in April could significantly impact the way servicers and lenders do business in Pennsylvania. Michael McKeever, with the law firm of Goldbeck, McCafferty & McKeever, issued an advisory to inform attorneys and lenders about some of the changes that would result if a series of five house bills make it into law—specifically House Bill (H.

Government-sponsored enterprise (GSE) Fannie Mae said Friday that the company is changing its national down payment policy—a measure that will allow them to accept up to 97-percent loan-to-value ratios for conventional, conforming mortgages processed through its Desktop Underwriter (DU) automated underwriting system.

Irvine, California-based RealtyTrac, an online foreclosure marketplace, announced Thursday that is has entered into a strategic partnership with Point2 Technologies, Inc company that provides real estate professionals with Web site and listing syndication software.

Bensalem, Pennsylvania-based ISGN Technologies, Ltd., announced a major re-branding initiative on Thursday that will bring all of the company’s subsidiary companies under one recognizable brand name.

U.S. Sen. Chris Dodd (D-CT) and the Senate Committee on Banking, Housing and Urban Affairs will be discussing The Federal Housing Finance Regulatory Reform Act of 2008 in executive session today. The reform act aims to improve the sagging housing market by creating a new regulator for government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.