...government mortgages dropped substantially last week, following the implementation of an increase in FHA mortgage insurance premiums,"" said Mike Fratantoni, MBA's VP of research and economics. ""Applications for conventional mortgages...
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HUD Institutes Foreclosure Moratorium for Rhode Island Storm Victims
...for housing rehabilitation, economic development, and repair of public infrastructure. Additionally, HUD said it is making mortgage insurance available for both mortgages and home rehabilitation through its Section 203(h) program....
Read More »South Carolina Sees First Bank Failure Since 1999
...after it was unable to boost capital reserves. The FDIC expects Beach First's failure to cost its deposit insurance fund about $130.3 million, but said the transfer to Bank of...
Read More »Wells Fargo Top Commercial/Multifamily Originator of 2009
...for pension funds * MetLife for life insurance companies * Glacier Real Estate Group for credit companies * Deutsche Bank Commercial Real Estate for specialty finance * HFF L.P. for...
Read More »FHA Now Accepts Electronic Signatures on Third Party Documents
In a move that will make the application process for Federal Housing Administration (FHA) mortgage insurance easier for borrowers and faster for lenders, ""HUD"":http://portal.hud.gov/portal/page/portal/HUD [IMAGE] released a ""mortgagee letter"":http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/10-14ml.pdf Thursday...
Read More »California Legislature Pushes Important Foreclosure Bill Forward
In a 7-1 vote on Wednesday, the ""California Senate Banking, Finance, and Insurance Committee"":http://www.sen.ca.gov/ftp/sen/committee/standing/BANKING/_HOME/ approved a measure that would better protect homeowners in the Golden State who are at risk...
Read More »Federal Home Loan Bank Endorses Iowa Subservicer
...behalf of the lender,"" said Robert Kallio, VP of Des Moines-based Nationwide Advantage Mortgage Company, a subsidiary of Nationwide Insurance. NAMC offers clients both private label and servicer-branded subservicing programs....
Read More »Fed in Same Boat as Banks on Soured Real Estate Assets
...a complex hodgepodge of souring commercial property loans, securities backed by U.S. subprime loans, credit insurance written on troubled bond and mortgage insurers, loans tied to struggling hotels in Georgia...
Read More »Credit Union Regulator Readies Securitization of $50B in ‘Toxic’ Loans
...NCUA, which serves the same regulatory and depository insurance role for credit unions as the FDIC does for banks, would be following in the fashion of its banking counterpart, turning...
Read More »PMI Pulls Back 2010 Forecast on Year’s Soft Start
""PMI Mortgage Insurance Co."":http://www.pmi-us.com is tempering its expectations for the housing market. Although the industry is finally beginning to see some light through the debris of the national mortgage crisis,...
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