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Report: Home Values Closed Out 2008 with Record Declines

Data through December 2008, released on Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices (HPI), show that the prices of existing single family homes across the United States continue to set record declines, a trend that prevailed throughout all of 2007 and 2008.

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California Issues Foreclosure Moratorium

California Gov. Arnold Schwarzenegger approved a bill appended to the state’s budget package last week that institutes a 90-day foreclosure moratorium throughout the Golden State. Introduced by Sen.

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ACORN Activist Charged in Foreclosure Break-in

An activist for the Association of Community Organizations for Reform Now (ACORN) has been charged with fourth degree burglary for helping a Southeast Baltimore woman break into her former home last week as part of a protest demonstration against foreclosures.

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Bank Rescue Open to Fraud

Neil Barofsky, special inspector general for the $700 billion federal purse formerly known as the Troubled Asset Relief Program (TARP), told congressional leaders on Tuesday that the government’s bank rescue efforts could be vulnerable to fraud, potentially stripping taxpayers of tens, maybe hundreds of billions of dollars.

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Mortgage Apps Slide 15 Percent

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, dropped 15.

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Refi Boom Spurs Growth of Online Mortgage Software

With mortgage interest rates hitting historic lows, the refinance boom has put pressure on an industry that is already struggling from slashed jobs, plummeting real estate values, and fewer people buying new homes, forcing mortgage companies to do more with less.

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Bernanke: No Bank Nationalization

Federal Reserve Chairman Ben Bernanke dispelled rumors about nationalizing the U.S. banking system when he testified before congressional leaders on Capitol Hill Tuesday. Bernanke said nationalization of major financial institutions isn’t needed to ensure their viability, and could even erode their business value.

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RealtyTrac Releases Foreclosure Widget

RealtyTrac, a national online marketplace for foreclosure properties based in Irvine, California, and Caspio, Inc., a provider of a Web-based point-and-click platform for creating Web applications, today announced the launch of a new foreclosure Web application that features historical foreclosure activity data by state or by county and a real-time nationwide search of properties in foreclosure.

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Wolters Kluwer Consultants Earn CRCM Designation

Minneapolis-based Wolters Kluwer Financial Services recently announced that two members of its compliance management services team have earned the prestigious Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association’s (ABA’s) Institute of Certified Bankers (ICB).

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Home Price Declines Hit Record in Q4

Home prices in the United States posted record declines in the fourth quarter of 2008, according to the Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI). The agency’s purchase-only HPI, based on data from home sales, was 3.

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