The Pulse

Federal Reserve Board proposes significant revisions to Regulation Z
The Federal Reserve Board on Thursday proposed significant changes to Regulation Z (Truth in Lending) intended to improve the disclosures consumers receive in connection with closed-end mortgages and home-equity lines of credit (HELOCs).... Read more
NAHB delvers testimony on Hill: Appraisal and AD&C problems hampering housing recovery
The National Association of Home Builders (NAHB) told Congress that inappropriate appraisal practices and the acquisition, development and construction (AD&C) have contributed to the lending crisis that has choked off credit for home... Read more
Rates rise 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 5.20 percent with an average 0.7 point for the week ending July 23, 2009, up from last week when it... Read more
CMSA issues white paper on Obama Administration’s regulatory reform plan
Commercial Mortgage Securities Association (CMSA), in a white paper issued today on the White House’s overall regulatory reform proposals, emphasized that the government’s financial recovery and reform efforts should maintain a consistent... Read more
Mortgage applications rise in latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending July 17, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 528.9, an increase of 2.8... Read more
Agencies release revisions to interagency Q&A and proposed new questions on flood insurance
The federal bank, thrift, credit union and Farm Credit System regulatory agencies have released revised interagency questions and answers regarding flood insurance and requested public comment on several new ones. The Interagency Questions... Read more
Center for Public Integrity report: Banned appraisers return as real estate agents
In 2007, a Florida real estate appraisal trainee name Serge R. Wainer lost his license over a forged home appraisal. After an investigation, the Florida Real Estate Appraisal Board revoked Wainer’s license, but until recently, he remained... Read more
FTC leads “Operation Loan Lies” to curb fraud
Federal Trade Commission (FTC) Chairman Jon Leibowitz, joined by California Attorney General Jerry Brown, has announced Operation Loan Lies, a coordinated national law enforcement effort to crack down on mortgage modification scams. The... Read more
U.S. Commerce Department: Housing starts and permits up strongly in June
Nationwide housing starts and permits posted substantial gains in June as home builders responded to improved market conditions and the impending expiration of the first-time buyer tax credit, according to data released by the U.S.... Read more
HUD grants $360 million in Recovery Act funds to support community and economic development
In the Obama Administration's continued effort to stimulate community development and job growth, U.S. Housing and Urban Development Secretary Shaun Donovan has announced nearly 700 grants totaling $360 million in funding through the... Read more