The Obama administration has released the names of the first six mortgage companies to officially ink their commitment to participate in the government’s Home Affordable Modification Program (HMP).

The New York Federal Reserve Bank purchased $21.75 billion in mortgage-backed securities (MBS) from government agencies this week. Total MBS purchases since the Fed program began in early January now stands at $355 billion.

RealtyTrac released its U.S. Foreclosure Market Report for the first quarter of 2009 on Thursday, which showed that one in every 159 housing units in the nation received a foreclosure filing during the first three months of the year.

The Virginia Legislature has passed House Bill 2150, which would allow lenders and servicers to register their foreclosed properties, for the purpose of property preservation tracking, with the Mortgage Electronic Registration System (MERS) instead of using individual municipal registration databases.

The Treasury Department released its February lending survey on Wednesday. The study covers the top 21 institutions who have received a government investment through the Capital Purchase Program (CAP).

The Mortgage Bankers Association (MBA) announced on Tuesday that Michael Fratantoni has been named VP of single family research and policy development. Fratantoni will be responsible for managing MBA’s policy development research for issues impacting single-family lending.

Melville, New York-based Lend America, a direct-to-consumer Federal Housing Administration (FHA) lender, recently announced that it has raised its 2009 projection. Based on the company’s first quarter business, Lend America estimates that its servicing assets will surpass $1 billion by the end of the second quarter of 2009 and grow to over $2 billion by December 31, 2009, a 33 percent increase over the company’s previous forecast.

Foreclosure floodgates may soon give way as the nation’s leading mortgage lenders lift their recent foreclosure suspensions and move those borrowers that are ineligible for federal programs on through the property repossession process.

Indiana Attorney General Greg Zoeller filed lawsuits in Boone, Clark, Delaware, Grant, and Marion counties last week against five foreclosure consultant companies. The lawsuits filed cite violations of three state laws including the Deceptive Consumer Sales Act, Credit Services Organizations Act, and the Mortgage Rescue Protection Fraud Act.

Rather than Quenching the Industry’s Thirst, Did TARP Trickle Away Needed Funds—Making Matters Worsex Rome may not have been built in a day, but it certainly didn’t take long for its empire to decline and fall.