The Pulse

Reps. Waters and Frank introduce new flood insurance legislation
House Financial Services Housing Subcommittee Chairwoman Rep. Maxine Waters (D-CA) and Committee Chairman Rep. Barney Frank (D-MA) have introduced new legislation to authorize the National Flood Insurance Program (NFIP) through March 31,... Read more
FHFA releases first Five-Year Strategic Plan
Federal Housing Finance Agency Director (FHFA) James B. Lockhart has released the Agency’s first Strategic Plan since FHFA was created nearly one year ago in the Housing and Economic Recovery Act (HERA). The plan details the goals and... Read more
HUD aims to stamp out homelessness in the U.S.
U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has awarded $1.2 billion to over 400 communities across the nation to rapidly re-house families who fall into homelessness, or prevent them from becoming homeless in the... Read more
FBI reports mortgage fraud increases in 2008-2009
A Federal Bureau of Investigations (FBI) report released this week says that mortgage fraud cost U.S. lenders more than $1 billion in 2008, and will cost lenders even more in 2009. Financial institutions reported 63,713 incidents of... Read more
MBA reports government-insured share of mortgage applications highest since 1990
The government-insured (FHA and VA loans) share of mortgage applications was 35.9 percent in June 2009, the highest level since November 1990, according to the Mortgage Bankers Association (MBA). Based on data from MBA's Weekly Mortgage... Read more
NAMB announces 2009–2010 board as Jim Pair becomes president
The National Association of Mortgage Brokers (NAMB) has announced its Board of Directors for 2009–2010 at its 2009 Mid-Year Meeting on Saturday, June 27, in San Antonio, Texas. NAMB is the voice of the mortgage broker industry,... Read more
MBA Weekly Survey: Mortgage applications increase
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending July 3, 2009, which was a shortened week due to the Independence Day holiday. This week's results include an adjustment to... Read more
PMI Q2 Risk Index reflects brunt of recession on nation's housing markets
PMI Mortgage Insurance Company has released its Second Quarter 2009 Economic and Real Estate Trends Report, and its U.S. Market Risk Index. The quarterly report projects the likelihood that the nation's housing prices will be lower in two... Read more
NAMB applauds introduction of HVCC legislation HR 3044
Rep. Travis Childers (D-MS) and George Miller (R-CA) have introduced legislation requesting an 18-month moratorium on the Home Valuation Code of Conduct (HVCC). The National Association of Mortgage Brokers (NAMB) applauds the introduction... Read more
Additional states enact SAFE Act legislation
The states of Alaska, Florida, Maine and Tennessee have each signed into law, legislation designed to meet the mandate of the federal Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) of 2008 by providing for the licensing... Read more