The Pulse

Arizona broker pleads guilty to six counts in cash back fraud scheme
Jeffrey Todd Crandell, 33, of Mesa, Ariz., pleaded guilty on Nov. 9 to six counts of bank fraud for his role in a mortgage fraud scheme. Sentencing will take place Feb. 22, 2010, before U.S. District Judge G. Murray Snow. Crandell was the... Read more
Former Colorado homebuilding exec confesses to role in builder bailout scheme
The former director of sales for a Colorado real estate company that built luxury homes throughout California agreed in court papers filed to plead guilty to a federal conspiracy charge, admitting that he and other company officials... Read more
FEMA seeks feedback on National Flood Insurance Program
“Uncle Sam Wants You.” That’s the word from the Federal Emergency Management Agency (FEMA) which is soliciting feedback on the National Flood Insurance Program (NFIP) during a 30-day public comment period. The NFIP is a federal program... Read more
Agencies issue final rule for loans modified under HAMP
The federal bank and thrift regulatory agencies have issued a final rule providing that mortgage loans modified under the U.S. Department of the Treasury’s Home Affordable Mortgage Program (HAMP) will generally retain the risk weight... Read more
National Housing Conference president and CEO comments on FHA annual audit
The following are comments from Conrad Egan, president and chief executive officer of the National Housing Conference (NHC) regarding the release of the Federal Housing Administration's (FHA's) annual audit: “FHA’s annual audit released... Read more
TAVMA finds 13 miles is average distance traveled by AMC-assigned appraisers
The typical driving distance traveled by independent appraisers, retained by the nation's largest appraisal management companies (AMCs), averages 13 miles in urban and suburban areas this year, according to a new survey conducted by the... Read more
RealtyTrac reports foreclosure activity slows for third consecutive month
RealtyTrac, an online marketplace for foreclosure properties, has released its October 2009 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled foreclosure auctions and bank repossessions—were... Read more
NeighborWorks America gets $4.8 million-plus in HUD support
NeighborWorks America has announced that it received $4,860,802 in funding from the U.S. Department of Housing & Urban Development (HUD), which will support training and certification opportunities for thousands of counselors from HUD-... Read more
CCH issues White Paper on draft of financial, securities reform
CCH Principal Securities Law Analyst Jim Hamilton, JD, and CCH Analyst Richard Roth, JD, have authored a new white paper, Senate Banking Committee Releases Draft Legislation: Restoring American Financial Stability Act of 2009. This is the... Read more
Fixed-rate remains top choice among refi borrowers
Freddie Mac has announced that in the third quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was adjustable-rate mortgage (ARM) or a fixed-rate. For the fourth... Read more