The Pulse

New York lawyer charged in multi-million dollar mortgage fraud scheme
Preet Bharara, the United States Attorney for the Southern District of New York, and Joseph M. Demarest Jr., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (FBI), have announced the unsealing... Read more
Freddie Mac survey finds rates dip to near-record lows for the week
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010, down from last week when it... Read more
Interthinx fraud report finds California ranks tops in the nation for mortgage fraud
Interthinx has released its quarterly Mortgage Fraud Risk Report, covering data collected during the fourth quarter of 2009. The report includes an analysis of national mortgage fraud and indices for the four most common types of mortgage... Read more
January national HAMP report finds mods on the rise
The U.S. Department of the Treasury and the U.S. Department of Housing &Urban Development (HUD) have released January data for the Administration's Home Affordable Modification Program (HAMP), demonstrating that the number of... Read more
California man pleads guilty in $33 million real estate Ponzi scheme
A Long Beach, Calif. man who operated a number of ventures that he used to solicit money with false claims of profitable investments in real estate has pleaded guilty to a federal wire fraud charge. Jon Weldon James pleaded guilty to the... Read more
MBA reports: Loan volume drops 2.1 percent from previous week
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a... Read more
Foreclosures shown to erode stability of Latino children and famlies
NCLR (National Council of La Raza), the largest national Hispanic civil rights and advocacy organization in the United States, and the University of North Carolina at Chapel Hill’s Center for Community Capital have released The Foreclosure... Read more
Bank of America completes 12,700 permanent HAMP mods
Bank of America has realized significant gains modifying mortgages through the government's Home Affordable Modification Program (HAMP). At the reporting deadline for the Department of Treasury's monthly servicer progress report expected... Read more
Freddie Mac finds: Refinancing homeowners predominantly opt for fixed-rate loans
Freddie Mac has announced that, in the fourth quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate, according to... Read more
Countrywide settlement cash will refinance Washington's foreclosure prevention efforts
There’s no place like home. For families struggling to make their mortgage payments, as well hundreds who already lost their homes, Washington Attorney General Rob McKenna offered hope today: more than $1.8 million for local foreclosure... Read more