The Pulse

MBA study finds Americans to be permanently impacted by recession
The historically slow recovery of the economy and lack of substantial job growth could cause negative, lasting effects on the current young generation and force many retirement age individuals to remain in the workforce, according to a... Read more
HOPE NOW reports 476,000-plus loan mods in Q1 of 2010
HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors has announced that its first quarter 2010 data shows a surge in solutions for troubled homeowners, including completed loan... Read more
Freddie Mac survey finds rates drop to lowest level in six weeks
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged five percent with an average 0.7 point for the week ending May 6, 2010, down from last week when it... Read more
Chase plans foreclosure prevention events to assist struggling homeowners
Building on its success in helping Florida homeowners, Chase has announced that it will host multi-day Homeowner Assistance Events exclusively for struggling Chase homeowners in eight major U.S. markets this year. “We have increased... Read more
MBA survey: Homebuyer tax credit rush pushes purchase activity
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending April 30, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased four percent on a... Read more
Ellie Mae files registration statement for proposed IPO
Ellie Mae Inc. has announced that it has filed a registration statement on Form S-1 with the U.S. Securities & Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of shares of its common stock. The number of... Read more
Treasury Secretary Geithner: "We do not believe servicers are doing enough to help homeowners"
U.S. Department of the Treasury Secretary Timothy F. Geithner has delivered testimony before the Senate Committee on Appropriations Subcommittee on Financial Services and General Government. In his testimony, Secretary Geithner touches... Read more
FTC shuts down foreclosure "rescue" company
The Federal Trade Commission (FTC) has put a permanent stop to another mortgage foreclosure “rescue” operation that allegedly promoted bogus loan modification and foreclosure relief services. The case is one of 17 lawsuits the FTC has... Read more
LPS report shows mixed sales results with signs of slight improvement
The Mortgage Monitor report released by Lender Processing Services Inc. (LPS), a provider of mortgage performance data and analytics, showed mixed results with the nation's home loan market. Modest improvements in the number of loans... Read more
Freddie Mac survey finds rates stabilize for the week
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly from last... Read more