Mortgage Lending News     Click to continue . . .

  •   Credit News From Premier By Louis S. Barnes March 12, 2010
Long-term Treasury rates rose under pressure from constant borrowing, but mortgages did well, holding at 5.00% with lowest fees. Versus the 10-year T-note at 3.70%, that's the narrowest spread ever measured.
Premier Mortgage Group, Inc,Lou Barnes,Boulder Co  03/12/2010

  •   AIMSdashboard releases newest version of its software for HVCC compliance
AIMSdashboard has released the latest version of its Web-based Appraisal Independence Management System (AIMS), featuring several compliance-focused additions. AIMS 4.4 will promote lender compliance with the appraisal independence requirements of the Uniform Standards of Professional Appraisal Practice (USPAP), Federal Housing Administration (FHA) Mortgagee Letter 09-28, Federal Financial Institutions Examination Council (FFIEC) and the Home Valuation Code of Conduct (HVCC).
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   Commercial lending insight ... or, why we miss the company that almost killed our industry!
“Friends, Americans, mortgage professionals, lend me your ears … I come to bury InterBay, not to praise them. The evil that men do lives after them. The good is oft interred with their bones, so let it be with InterBay … we have been told that InterBay was ambitious: If it were so, it was a grievous fault …”
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   Bank of America: 21,000 permanent mods completed under HAMP
Bank of America has announced that it has completed nearly 21,000 mortgage modifications under the federal government`s Home Affordable Modification Program (HAMP), according to the bank`s latest monthly progress report to the U.S. Department of Treasury.
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   FDIC closes sale of $1.8 billion in notes backed by MBS
The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of notes backed by residential mortgage-backed securities (RMBS) from seven failed bank receiverships. The sale was conducted through a private placement priced and allocated on March 5th. The transaction was met with robust investor demand, with over 70 investors participating across fixed and floating rate series. The investors included banks, investment funds, insurance funds and pension funds. All investors were qualified institutional buyers.
NationalMortgageProfessional.com,NMP Media Services,   03/12/2010

  •   HUD Issues Guidance on Appraisals for Agency REOs
HUD released a Mortgagee Letter this week announcing the validity period for appraisals used to establish listing prices for the federal agency's REO properties. The letter also outlines situations when a second appraisal is permitted for purchasers of REO properties utilizing Federal Housing Administration (FHA) financing.
DSNews.com,Admin,   03/12/2010