The Pulse

Latest MBA Weekly Survey reveals apps on upward swing
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Aug. 14, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 5.6 percent on a... Read more
CSBS and AARMR issue mortgage industry supervision report
The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) published the first report on multi-state examination efforts to improve supervision of the mortgage industry. The... Read more
Witherell named Freddie Mac COO
Freddie Mac has announced that Bruce M. Witherell, a mortgage industry veteran, has been appointed chief operating officer, effective Sept. 14, 2009. In that position, he will oversee and ensure effective integration across the company's... Read more
Appraisal Institute criticizes appraisers who fail to meet geographic competency requirements
In the wake of reports that some real estate appraisers are performing appraisals despite lacking sufficient knowledge of the local market, the Appraisal Institute has criticized those who violate the profession’s ethical or professional... Read more
U.S. Commerce Dept. states single-family housing starts and permits rise in July
Production and permitting of new single-family homes continued on an upward trajectory in July, according to newly reported numbers from the U.S. Commerce Department today. Meanwhile, substantial declines on the multifamily side dragged... Read more
Federal Reserve Board approves extension of TALF program
The Federal Reserve Board and the Treasury Department have announced that they approved an extension to the Term Asset-Backed Securities Loan Facility (TALF) and that, at this time, they do not anticipate any further additions to the types... Read more
NAHB/Wells Fargo report: Builder confidence continues upward trend
Builder confidence in the market for newly built, single-family homes rose one point in August to its highest level in more than a year, according to the latest reading of the National Association of Home Builders/Wells Fargo Housing... Read more
CampusMBA becomes approved SAFE Act education provider
CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), has announced it has been approved as an educational provider through the Nationwide Mortgage Licensing System (NMLS) to offer courses under the... Read more
Fed adjusts fee-based HOEPA trigger to $579
The Federal Reserve Board has published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain... Read more
MBA study shows mortgage banker production profits improved in 2008
Mortgage bankers managed to make a marginal profit of $184 per loan on every loan they originated in the second half of 2008 despite lower net warehousing income and higher production operating expenses, according to the Mortgage Bankers... Read more