The Pulse

MBA analysis: GSEs increase multifamily mortgage holdings in Q3 '09
The level of commercial/multifamily mortgage debt outstanding decreased in the third quarter, to $3.43 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. The $3.43... Read more
Rates hover in the five percent range according to Freddie Mac
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.94 percent with an average 0.7 point for the week ending December 17, 2009, up from last week when... Read more
NAMB forms Legislative & Regulatory Action Fund to protect broker industry
The National Association of Mortgage Brokers (NAMB) has announced the launch of its Legislative & Regulatory Action Fund to collect donations that will be used for protecting the interests of the mortgage broker industry. The mortgage... Read more
Apps creep up in latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Dec. 11, 2009. The Market Composite Index, a measure of mortgage loan application volume increased 0.3 percent on a seasonally... Read more
HOPE NOW Alliance testifies: California workouts outpace foreclosures by a 2-1 margin
Faith Schwartz, executive director, of the HOPE NOW Alliance, testified before the State Assembly Select Committee on the Safety and Protection of At-Risk Communities in California. Schwartz testified that through October 2009, more than... Read more
New York appraisal business owner indicted in mortgage fraud scheme
Andrew T. Baxter, United States Attorney; Rene Febles, Special Agent in Charge, United States Department of Housing and Urban Development, Office of Inspector General, John F. Pikus, Special Agent in Charge, Albany Division of the Federal... Read more
HUD publishes proposed rule for state compliance with SAFE Act
The U.S. Department of Housing & Urban Development (HUD) has announced publication of a proposed rule setting the minimum standards that states must meet to comply with the Secure and Fair Enforcement Mortgage Licensing Act (SAFE Act)... Read more
CMSA to testify before House Financial Services Committee on covered bonds issue
Commercial Mortgage Securities Association (CMSA) will testify today before the House Financial Services Committee where it will share its perspectives on the U.S. covered bond market. Christopher Hoeffel, immediate past president of CMSA... Read more
Wells Fargo expands its use of HAMP in reducing foreclosures
Wells Fargo & Company has said that it continues to expand its use of the federal Home Affordable Modification Program (HAMP) and its other modification programs to reduce the number of foreclosed homes across the country. As of Nov.... Read more
MBA applauds increased funding for FHA, fraud prevention
Robert E. Story Jr., CMB, chairman of the Mortgage Bankers Association, has issued the following statement after the U.S. House of Representatives passed the conference report for HR 3288, the Consolidated Appropriations Act. The bill... Read more