Posted To: MND NewsWire Federal Reserve Governor Elizabeth A. Duke told members of the Senate Committee on Banking, Housing, and Urban Affairs that "the failure of the housing market to respond to lower interest rates as vigorously as it has in the past indicates that factors other than financial conditions may be restraining improvement in mortgage credit and housing market conditions and thus impeding the economic recovery." Six years after house prices first started to decline and more than … [Read more...]

Posted To: MND NewsWire Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) have just posted their 10 th consecutive quarter of annual gains . Visit site: FDIC Banks Again Report Improved Quarterly Profits … [Read more...]

Posted To: MND NewsWire MERS , the Mortgage Electronic Registration System, won another court battle last week. On February 21 the New Hampshire Superior Court affirmed, in the case of Dow v Bank of New York Mellon Trust, that MERS had the authority to both hold and assign its interest in mortgages under New Hampshire law Continue reading here: New Hampshire Court Rules for MERS … [Read more...]

Posted To: MND NewsWire All three of the S&P/Case-Shiller Indices hit new post-crisis lows during December. The year ended with the national composite, which is reported only every three months, down 3.8 percent during the fourth quarter of 2011 and 4 percent lower than it was one year earlier. Read the original post: S&P Case-Shiller Indices at Post-Crisis Lows … [Read more...]

Posted To: MND NewsWire The Federal Housing Administration ( FHA ) announced that it is increasing both upfront and annual premiums for its insured single family loans. An increase of 0.10 percent in the annual premium mandated by the Temporary Payroll Tax Cut Continuation Act of 2011 will be effective for all loans written after April 1 Continued here: FHA to Hike Up-Front and Annual Premiums … [Read more...]

Posted To: MBS Commentary After a Monday with only one major economic report, Tuesday's calendar is busier by comparison. Additionally, Today's data has more more market-moving potential than yesterday's Pending Home Sales. Even then, we wonder how keen markets will be to stray very far from recent ranges given the even heftier events on the horizon just one day later Read the original: The Day Ahead: More Economic Data, LTRO/Bernanke Loom … [Read more...]

Posted To: MND NewsWire Investors who have prequalified to purchase lender owned real estate (REO) under a program unveiled February 1 by the Federal Housing Finance Agency (FHFA) were notified on Monday about the next step in the program. FHFA announced that it will soon begin accepting applications from investors to demonstrate their financial capacity, experience, and specific plans for purchasing pools of Fannie Mae foreclosed properties in Atlanta, Chicago, Los Angeles, Phoenix, and parts … [Read more...]