The Pulse

HR 2998 not the answer to a secure energy future says NAHB
American homebuyers deserve a more equitable solution than the American Clean Energy and Security Act as Congress moves to cut our nation’s energy use, says the National Association of Home Builders (NAHB). “The hard truth is that we can’t... Read more
Agencies issue interim final rule for mortgage loans modified under the Making Home Affordable Program
The federal bank and thrift regulatory agencies has invited public comment on an interim final rule that provides that mortgage loans modified under the U.S. Department of the Treasury's Making Home Affordable Program (MHAP) will retain... Read more
President Obama announces financial regulation reform proposal
U.S. President Barack Obama has announced his administration’s anticipated market reforms proposal. The administration's plan, which Obama targets to complete in the 2009 calendar year, would give the Federal Reserve more power to police... Read more
MAMB hosts Town Hall Meeting for 80-plus on HVCC and legislative issues
The Maryland Association of Mortgage Brokers hosted a Town Hall Meeting on June 24 for its membership. The 80-plus members in attandance were briefed on the latest developments as they relate to the Home Valuation Code of Conduct (HVCC)... Read more
Mintel Comperemedia study concludes: Mortgage, home equity direct mail volume flattens out
After months of plummeting, mortgage and home equity marketing direct mail is finally leveling off. Mintel Comperemedia, a service that provides direct marketing competitive intelligence, reports that for the past six months—after more... Read more
Agencies announce Notice of Proposed Rulemaking for Community Reinvestment Act
The federal bank and thrift regulatory agencies today proposed revisions to regulations implementing the Community Reinvestment Act (CRA) to require the agencies to consider low-cost education loans provided to low-income borrowers when... Read more
MBA lowers 2009 originations forecast to $2.03 trillion
The Mortgage Bankers Association has lowered its forecast of mortgage originations in 2009 to $2.03 trillion, a drop of over $700 billion from its March forecast. $84 billion of the drop is due to lower purchase originations and the rest... Read more
NFCC survey reveals long-term implications of mortgage meltdown
In recognition of June as National Housing Month, the National Foundation for Credit Counseling (NFCC) has released the results of a recent housing survey which revealed that almost half of all American adults, more than 100 million people... Read more
NAHB statement: New guidelines needed for appraising distressed properties
Using foreclosed and distressed sales as comparables with appraisals on single-family homes without adequately reflecting the differences in the condition of the respective properties is needlessly driving down home values, according to... Read more
FTC presents testimony regarding identity theft
On June 17, the Federal Trade Commission (FTC) presented testimony regarding identity theft before the U.S. House Subcommittee on Information Policy, Census, and National Archives of the Committee on Oversight and Government Reform. The... Read more