The Pulse

Builders call on Congress to extend and enhance homebuyer tax credit
To help create jobs and set the stage for a strong recovery, the National Association of Home Builders (NAHB) has called on Congress to extend and enhance the $8,000 first-time homebuyer tax credit due to expire on Dec. 1, 2009. ... Read more
FFIEC support for responsible loss mitigation activities
The Federal Financial Institutions Examination Council (FFIEC) members have issued the following statement on Support for Responsible Loss Mitigation Activities. The statement reiterates the FFIEC members’ continued support for responsible... Read more
Making Home Affordable Program on pace to help to millions of homeowners
The Obama Administration has released its first monthly Servicer Performance Report detailing the progress to date of the Making Home Affordable (MHA) loan modification program. The purpose of the report is to document the number of... Read more
Senate Banking Committee hearing reveals discord among federal regulators
At a Senate Banking Committee hearing this past Tuesday, Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair testified first and spoke against creating a single regulatory regime for the financial industry. “The ability to... Read more
NLIHC report: Housing market stabilizing
Housing markets in many metropolitan areas appear to be stabilizing, but further steep drops in home prices could be seen if the broader economy does not recover, a new report by the National Low Income Housing Coalition (NLIHC) and the... Read more
MBA supports bill to increase FHA multifamily loan limits for elevator properties
The Mortgage Bankers Association (MBA) called for quick passage of HR 3527, the FHA Multifamily Loan Limit Adjustment Act of 2009 which would increase the Federal Housing Administration's (FHA) multifamily loan limits for elevator... Read more
MBA seeks comments on draft Whole Loan Purchase and Sale Agreement
The Mortgage Bankers Association (MBA) has released a draft purchase and sale agreement (Agreement) for whole loans it hopes will become the standard form for industry participants to use voluntarily for whole loan purchases and sales made... Read more
NAHB report: Remodeling market picking up steam
Residential home remodeling showed modest gains during the second quarter of 2009 with increases in all indicators, according to the latest National Association of Home Builders (NAHB) Remodeling Market Index (RMI). The current market... Read more
Freddie Mac PMMS: Positive reports on economy help keep mortgage rates low
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.22 percent with an average 0.6 point for the week ending Aug. 6, 2009, down from last week when it... Read more
Q2 2009 commercial/multifamily originations up from last quarter, down from 2008
Second quarter 2009 commercial and multifamily mortgage loan originations were 50 percent higher than during the first quarter of 2009, a quarter with very little activity, but remained 54 percent lower than during the same period last... Read more