Mortgage Lending News     Click to continue . . .

  •   HUD brings on Michaelson, Connor & Boul Inc. (MCB) as mortgagee compliance manager
The U.S. Department of Housing & Urban Development (HUD) has announced the agency is contracting with Michaelson, Connor & Boul Inc. (MCB) of Huntington Beach, Calif. to serve as a mortgagee compliance manager. MCB will be responsible for ensuring that Federal Housing Administration (FHA)-approved lenders and loan servicers convey foreclosed properties to the FHA in acceptable condition.
NationalMortgageProfessional.com,NMP Media Services,   03/19/2010

  •   Garrett Reintroduces Covered Bond Bill to Spur Mortgage Financing
With financing for both residential and commercial real estate mortgages still tight, and the securitization market all but stagnant by historical standards, policymakers have been pushing lenders to get the wheels of finance churning again. It's a fine line to walk with new regulatory compliance issues and constrained capital, but Rep. Scott Garrett thinks he has the answer - covered bonds. They represent a $3 trillion market and are a major source of mortgage liquidity among European nations.
DSNews.com,Admin,   03/19/2010

  •   UnitedTech Lender Services Names VP of Valuations
UnitedTech Lender Services, Inc. (UTLS) has appointed Bradley Coburn VP of valuations. Coburn's experience includes working with both high-profile lending institutions and the appraisal/valuation real estate sector.
DSNews.com,Admin,   03/19/2010

  •   Fannie Mae Reports on Activities in 2009, Changes Outlook for 2010
In two separate reports released this week, Fannie Mae took a look at the past and made predictions for the future. On Thursday, the government-sponsored enterprise (GSE) released "Helping Housing Recover: A Report on Fannie Mae's Mission Performance," describing the company's efforts to provide liquidity, stability, and affordability to the nation's housing finance system. On Wednesay, the GSE released its March 2010 Economic Outlook, cutting its mortgage origination predictions for this year.
DSNews.com,Admin,   03/19/2010

  •   First `ROOF` Agreement Signed
The first Retaining Occupancy on Foreclosure (ROOF) Agreement was recently signed in the city of Detroit. Created to help combat the blight problems in Detroit by cutting down on the number of homes left vacant after foreclosure, the goal of the program is to salvage Detroit neighborhoods and greatly reduce the number of vacant homes by keeping foreclosed homes occupied by either the owner or tenant until the property is sold at an REO sale.
DSNews.com,Admin,   03/19/2010

  •   Collapse in Home Prices Hits Overvalued Markets Hardest
Home prices in extremely overvalued U.S. metropolitan areas declined nearly 37 percent on average between 2005 and the fourth quarter 2009, according to IHS Global Insight. At the peak of the bubble, nearly half of the metros in IHS' study were considered "overvalued." Now, not a single market can make that claim. In fact, nationally, the company says housing is 8.9 percent undervalued. And new data from Altos Research suggests that prices in many of the hardest-hit markets are still on a slippery downward slope.
DSNews.com,Admin,   03/19/2010