Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), and for yet another week, fixed-rate mortgages reached record lows, as did the five-year adjustable rate in this survey. The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the five-year adjustable in 2005.Read more

Delinquency rates were mixed in the second quarter for commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990s, some by large margins.Read more

The July Mortgage Monitor report released by Lender Processing Services Inc. (LPS) shows that foreclosure starts are on the rise, with seriously delinquent loans—those six or more months delinquent—dominating new foreclosure actions. The increase in foreclosure starts is consistent with the Department of Treasury's latest report that approximately half of all Home Affordable Modification Program (HAMP) trial modifications resulted in cancellation, though 45.4 percent of those have resulted in alternative (non-HAMP) modifications.Read more

The aggregate value of Commercial Real Estate (CRE) loans priced by DebtX that collateralize commercial mortgage-backed securities (CMBS) increased to 79.4 percent as of July 30, 2010, up from 77.4 percent as of June 30, 2010. Loan values were 71.1 percent as of July 31, 2009. "Despite weak CRE fundamentals and increasing levels of delinquencies and defaults, 90 percent of CMBS loans are still performing," said DebtX Chief Executive Officer Kingsley Greenland.Read more

Guaranteed Home Mortgage Company Inc., a national residential mortgage investment and banking firm, has announced the establishment of a new office in Rockefeller Plaza to anchor its New York business and provide a base of operations to vigorously pursue a retail origination platform in Manhattan. Neil Bader, Guaranteed's national retail sales director and a Manhattan resident, will be permanently located there, supplementing the company's retail operations from White Plains, N.Y. to Manhattan to emphasize Guaranteed's commitment to the co-op and condo market.Read more

During a wide ranging interview with WNBC news anchor Chuck Scarborough, Charles Wimer, chairman of the New York State Title Economic and Research Committee, stated that the New York real estate market has bottomed out and bargain hunters will start looking for deals in both residential and commercial sectors. While noting that real estate prices remain substantially down Wimer told Scarborough that commercial activity exceeds residential sales.Read more

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Aug. 27, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2.3 percent compared with the previous week. The Refinance Index increased 2.8 percent from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index increased 1.8 percent from one week earlier.Read more

I want to begin by saying that I support all channels of loan origination if they are operated with integrity and are ethically compliant. To say our industry has gone through change is a severe understatement. While these changes have made a quick impact on how we operate, it’s not over yet. More changes are coming, and in the next several days, we will have an idea on how the final draft of this new bill will impact our business on all channels as financial reform will happen in one way or another. Is that bad? Depends on who you ask …Read more

OpenClose Mortgage Software, developers of Web-based, loan origination software (LOS), has released the enhanced editing version that improves the accuracy of information flow in the new Good Faith Estimate (GFE). The GFE lockdown "significantly improves" accuracy of loan documents allowing for those lenders to gain better control of 2010.Read more

eLynx, a portfolio company of American Capital, has announced that it has released its new eHUD service, a component of the Electronic Closing Network (eCN), that makes it easy for lenders and closing agents to comply with Real Estate Settlement Procedures Act (RESPA) regulations governing Good Faith Estimates (GFE) and the HUD-1.Read more