In the wake of the FHA simplifying the loan modification process, over 20,000 JPMorgan Chase employees are in the process of being laid off.Click to continue

Sparked by rising home prices across much of the nation, the housing recovery is now under way, but fiscal uncertainties and other challenges could result in a bumpy ride in the coming months, according to economists participating in the National Association of Home Builders (NAHB) recent Webinar on the construction and economic outlook.Click to continue

The Federal Housing Finance Agency (FHFA), along with Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), has announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their mortgage. Dubbed HARP Phase II, the program enhancements were developed at the direction of the FHFA, with input from lenders, mortgage insurers and other industry participants.Click to continue

This week, the Senate Banking Committee held a hearing titled, "New Ideas for Refinancing and Restructuring Mortgage Loans," discussing the future of mortgage financing in America.Click to continue

California Rep. Dennis Cardoza has announced legislation to stabilize the foreclosure crisis through the federal government’s conservatorship of Fannie Mae and Freddie Mac with support of two of the nation’s leading economists, Columbia Business School Senior Vice Dean Christopher Mayer and Moody’s Analytics Chief Economist Mark Zandi. The Housing Opportunity and Mortgage Equity (HOME) Act would use the federal government’s conservatorship and backing of Fannie and Freddie mortgages to secure the current low market rates for longer fixed terms.Click to continue