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MBA Survey: Mortgage Apps Increase Again

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey Wednesday, which showed an increase in home loan requests for the third week in a row. For the week ending July 17, 2009, MBA reported that total mortgage application volume rose 2.

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Former Fannie CEO to Lead Investment Firm

The New York-based alternative asset management firm Fortress Investment Group LLC announced over the weekend that Daniel H. Mudd, Fannie Mae’s former chief, will take the helm at Fortress as the company’s new CEO.

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Freddie Names Haldeman New CEO

After a four-month-long search process, Freddie Mac announced Tuesday that its board of directors named finance industry veteran Charles E. Haldeman, Jr. as the company’s new CEO and has elected him as a member of the board – a move that was widely expected, as DSNews.

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Lending Up As Banks Post Profits

The Treasury Department said last week that loan originations made by the nation’s largest banks grew modestly during the month of May, and according to a report issued this week by the Troubled Asset Relief Program’s (TARP) inspector general, a large majority of institutions who have received government bailout money say they’ve used the funds to write new loans.

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Freddie Offers Warranties on REO Homes

Purchasers of single-family foreclosed homes offered through Freddie Mac’s HomeSteps division will receive a comprehensive two-year home warranty paid for by Freddie Mac, the company announced Monday.

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Wells Fargo Steps Up Homeowner Assistance

Wells Fargo says in the first half of 2009, through lower rates, refinances, and modifications, it alone has helped nearly one million American homeowners lower their mortgage payments or restructure their mortgage.

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Allison Testifies for More Foreclosure Aid

Herb Allison, the Treasury’s new assistant secretary for financial stability and former CEO of Fannie Mae, told lawmakers at a Senate Banking Committee hearing last week that the administration is considering another housing proposal that would require lenders to allow previous homeowners to stay in their foreclosed homes as renters.

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TILA, RESPA a Concern for Small Banks

Regulatory compliance professionals at community banks expect to spend a significant amount of their time meeting Truth-in-Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) requirements during the next 12 months, according to a recent survey by Minneapolis-based Wolters Kluwer Financial Services.

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