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Mortgage Rates Inch Upward

Freddie Mac released the results of its Primary Mortgage Market Survey on Thursday, which showed that mortgage interest rates rose this week for both long- and short- term home loan products. The GSE attributed the increase to recently issued reports which signaled optimism that the national economy may be starting to turn around.

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Senate Approves Safe Harbor, H4H Bill

The Senate passed the Helping Families Save Their Homes Act by a 91 to 5 vote on Wednesday, after shooting down the bill’s bankruptcy cramdown amendment last week. The legislation provides mortgage servicers with a safe harbor from investor lawsuits, expands HUD’s Hope for Homeowners (H4H) program, increases funding for foreclosure prevention efforts, establishes foreclosure protections for renters, and increases the FDIC’s line of credit with the Treasury to $100 billion.

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Fed: Banks Constrict Q1 Mortgage Lending

Banks continued to tighten lending standards during the first quarter of the year, according to the Federal Reserve’s senior loan officer survey published on Monday. The central bank’s first quarter lending review showed that 50 percent of U.

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Cramdown Bill Fails in Senate

The U.S. Senate has voted down legislation that would allow bankruptcy court judges to modify the interest rate, terms, or even principal balance owed on primary-residence mortgages. After passing by a good margin in the House in early March, the cramdown bill failed in the Senate on Thursday by a vote of 45 to 51.

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Obama's First 100 Days Pave Road for More Regulation

The first 100 days of President Barack Obama’s administration have been marked by pressure to stabilize and reverse the nation’s financial crisis, and in doing so, establish regulatory reform within the financial and lending communities.

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Regulator Lowers GSEs' Housing Goals

Fannie Mae’s and Freddie Mac’s regulator, the Federal Housing Finance Agency (FHFA), submitted a proposed rule to the Federal Register this week to revise the GSEs’ housing goals for the year.

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Fed Purchases $23B in Agency MBS

The New York Federal Reserve Bank purchased $23.142 billion in mortgage-backed securities (MBS) from government agencies this week. Of the Fed’s new commitment to buy $1.25 trillion in MBS this year, its purchases now stand at $404 billion.

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Report: Delinquencies Lowest in 12 Months

Jacksonville, Florida’s Lender Processing Services (LPS), Inc. released its latest LPS Mortgage Monitor this week, which provides mortgage industry performance indicators as of March month-end. Among the findings, LPS reported that the number of newly delinquent loans declined in March to 7.

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