The Pulse

RealtyTrac reports: Foreclosure activity drops 10 percent in January '10
RealtyTrac, an online marketplace for foreclosure properties, has released its January 2010 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 315... Read more
Mortgage Contracting Services contributes to Haitian earthquake relief
Mortgage Contracting Services (MCS), a national field service company providing property preservation, inspections and REO asset maintenance to the financial services industry, has announced its collaboration with a local Haitian-born... Read more
CMSA backs OCC’s comments on securitization
Commercial Mortgage Securities Association (CMSA) has announced its support of U.S. Comptroller of the Currency John C. Dugan’s recent remarks on the need for a vital and robust securitization market, agreeing with several assertions that... Read more
Purchase apps drop in latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 5, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally... Read more
Embrace Home Loans raises $20,000 for Haiti during auction
Newport, R.I.-based Embrace Home Loans recently organized and held an auction, in lieu of holding its annual sales meeting, to raise funds for Haiti. Raising more than $20,000, contributions will go towards Partners with Haiti to support... Read more
IAS360 House Price Index drops 0.7 percent in December
Integrated Asset Services LLC (IAS), a leader in default management and residential collateral valuations, has released the latest IAS360 House Price Index (HPI). Based on the timeliest and most granular data available in the industry, the... Read more
HUD announces new Office of Sustainable Housing and Communities
During a sustainability forum at Portland State University and a speech to the New Partners for Smart Growth Conference in Seattle, U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan has announced the launch... Read more
FTC proposes rule to bar loan mod companies from charging upfront fees
The Federal Trade Commission (FTC) moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge upfront for these... Read more
SEC charges State Street for misleading investors about sub-prime mortgage investments
The Securities and Exchange Commission (SEC) has charged Boston-based State Street Bank and Trust Company with misleading its investors about their exposure to sub-prime investments while selectively disclosing more complete information to... Read more
Metrostudy: Charlotte’s housing market awaits job growth
Charlotte’s new-home industry continues to struggle because of several factors, including a weak economy, a poor job market, foreclosures, fears of declining home values and tight credit conditions, said Bill Miley, Metrostudy’s Charlotte... Read more