The Pulse

Sen. Menendez urges Treasury and Fed on rapid decline of commercial real estate
U.S. Sen. Robert Menendez (D-NJ) is urging Treasury Secretary Geithner and Federal Reserve Board Chairman Bernanke to take early and forceful measures to address the rapid decline of the commercial real estate market and its potentially... Read more
Ginnie Mae issues nearly $45 billion in MBS in August
The Government National Mortgage Association (Ginnie Mae) announced today that the corporation issued more than $44.73 billion in mortgage-backed securities (MBS) in August. For the first eight months of calendar year 2009, Ginnie Mae... Read more
FDIC encourages loss-share partners to provide forbearance to unemployed borrowers
As part of its loss-share agreement with acquirers of failed Federal Deposit Insurance Corporation (FDIC)-insured institutions, the FDIC is encouraging its loss-share partner institutions to consider temporarily reducing mortgage payments... Read more
Freddie Mac Economic Outlook: Slow but steady signs of recovery
A recent spate of positive housing news—increases in sales of new and existing homes over successive months, and favorable reports on home prices during the second quarter—reinforces the message that housing markets are stabilizing. These... Read more
Sen. Dodd to remain on as Senate Banking Committee Chairman
Democratic Connecticut Senator Christopher Dodd has announced that he will stay on as chairman of the Senate Committee on Banking, Housing and Urban Affairs, where he will continue to lead the fight in the Senate for financial regulatory... Read more
U.S. homebuyers paid $7,000 less than listing price in July according to Zillow study
Amid continued falling home prices, U.S. homebuyers are negotiating even more discounts at the bargaining table, according to July's Zillow Real Estate Market Reports. Buyers paid 3.3 percent, or a nearly $7,039, less than the last listing... Read more
Rates down slightly this week according to Freddie Mac PMMS
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.07 percent with an average 0.7 point for the week ending Sept. 10, 2009, down from last week when... Read more
National Housing Conference task force outlines principles for mortgage market repair
The following is a statement by Conrad Egan, president and chief executive officer of the National Housing Conference (NHC), addressing the NHC's-commissioned task force responsible for outlining the 10 key principles to repairing the U.S... Read more
MBA: Don't include cramdown in regulatory reform
In response to discussions in the House Financial Services Committee raising the possibility that a regulatory reform bill could include provisions allowing bankruptcy judges to modify mortgages on primary residences, MBA Chairman David... Read more
Lower rates spur applications in latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending September 4, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 17.0 percent on a... Read more