The Pulse

The first quarter of this year saw mortgage servicers arranging 319,000 non-foreclosure solutions for distressed homeowners
February loan mod data report finds permanent mods increased by 45 percent
The U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) have released February data for the Administration's Home Affordable Modification Program (HAMP). As of the end of the month, more than... Read more
FDIC closes sale of $1.8 billion in notes backed by MBS
The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of notes backed by residential mortgage-backed securities (RMBS) from seven failed bank receiverships. The sale was conducted through a private placement priced and... Read more
Bank of America: 21,000 permanent mods completed under HAMP
Bank of America has announced that it has completed nearly 21,000 mortgage modifications under the federal government's Home Affordable Modification Program (HAMP), according to the bank's latest monthly progress report to the U.S.... Read more
Report finds the average AMC has 15-plus years of experience
On average, an appraiser working with major appraisal management companies (AMC) has more than 15 years of experience appraising residential properties, according to a new survey conducted by the Title/Appraisal Vendor Management... Read more
RealtyTrac finds foreclosures drop two percent in February
RealtyTrac, an online marketplace for foreclosure properties, has released its February 2010 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 308,... Read more
NAMB to testify today on FHA reform before House subcommittee
Today, March 11, 2010, Mike Anderson, CRMS, vice chairman of the Government Affairs Committee for the National Association of Mortgage Brokers (NAMB) will testify before the House Financial Services Subcommittee on Housing and Community... Read more
Rates average 4.95 percent last week in latest Freddie mac survey
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when... Read more
MBA reports finds economic fallout's impact on commercial market continues
Delinquency rates continued to increase in the fourth quarter for most commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. Between the third and... Read more
Purchase apps on the rise in MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 0.5 percent on a... Read more
Appraisal Institute leads opposition to Obama’s short sales solution
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers voiced their opposition to changes to an Obama administration program that will encourage short sales of homes. The... Read more