To the relief of many IndyMac Bancorp Inc.:javascript:void(0);/*1216152087995*/, reopened its doors on Monday, although it has lost its status as a privately funded enterprise and is now operating under the control of the Federal Deposit Insurance Corporation);/*1216152137365*/.

The Foreclosure Prevention Act of 2008 finally passed through the Senate on Friday. In addition to its plans to modernize the Federal Housing Administration (FHA)  and create tighter controls over government-sponsored enterprises Fannie Mae and Freddie Mac, H.

The Federal Reserve Board a final rule amendment today to the Truth in Lending Act (TILA), or Regulation Z, requirement of the Home Ownership and Equity Protection Act (HOEPA). This rule addition, which addresses higher-priced mortgage loans, loans taken out against a consumer’s principal dwelling, and loans advertising standards will further regulate mortgage lending practices and ensure that consumers are protected against many of the same unscrupulous practices that led to the subprime loan delinquencies the market is seeing today.

As DSNews.com reported on Friday, the stocks of Fannie Mae and Freddie Mac hit an all time low last week, with Fannie falling as much as 24 percent and Freddie falling as much as 34 percent. Unfortunately, this week is not promising to bring much of a reprieve to the hits both government-sponsored enterprises are taking, as both made minimal gains as of 9:53 a.

According to the Maryland State Bar Association, one in every 200 Maryland homes is entering into some stage of a foreclosure and that 25,000 total foreclosures are to be expected this year. In order to combat these staggering figures, Maryland has made great strides recently to enact new legislation to help troubled borrowers, such as increasing the time to finalize a foreclosure from 15 days to 150, among other defenses.

Concern over what the future holds for government-sponsored enterprises Fannie Mae Freddie Mac has been heightened this week after the stocks of the two companies fell drastically yesterday, with Fannie falling as much as 24 percent and Freddie falling as much as 34 percent, their lowest point in 17 years, according to Bloomberg News:http://www.

The PMI Group, Inc. announced yesterday that they are providing a mid-year update to their paid claims guidance, the quality of new businesses written, and the claims paying financial strength of its primary U.

Eric Rice, founder and CEO of Dyer Beech, a company which educates homeowners on the foreclosure process and connects them to real estate and finance professionals, announced yesterday that the company will be launching a new online tool entitled H.

Wachovia announced on Wednesday that it has appointed Robert K. Steel as their new CEO, president, and member of its board of directors, effective immediately. Steel, who most recently served as under secretary of domestic finance for the Department of Treasury, will be replacing Lanty Smith, who has been servicing as interim CEO.

Integrated Mortgage Solutions (IMS), a company which provides collateral protection for the mortgage servicing industry, announced the launch of their new Web site on Wednesday. The site coincides with IMS’ overall rebranding in light of their new focus on loss mitigation.