The Pulse

HUD Secretary Donovan visits public housing in Chicago, announces HUD "Recovery in Action" Week
U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan joined Chicago Mayor Richard Daley to announce the official launch of HUD's "Recovery Act in Action" Week, along with $143 million in Recovery Act funds going... Read more
FDIC addresses the status of the Legacy Loans Program
The FDIC has formally announced that development of the Legacy Loans Program (LLP) will continue, but that a previously planned pilot sale of assets by open banks will be postponed. In making the announcement, Chairman Bair stated, "Banks... Read more
Statement by Rep. Spencer Bachus during GSE hearing
Rep. Spencer Bachus (AL), the top Financial Services Committee Republican, made the following remarks during a Capital Markets Subcommittee hearing entitled, "The Present Condition and Future Status of Fannie Mae and Freddie Mac:" Thank... Read more
J.D. Power and Associates reports: Customer commitment to retail banks declines for second consecutive year
Driven by declines in both satisfaction and brand image, customer commitment to retail banks has decreased in 2009, according to the J.D. Power and Associates 2009 Retail Banking Satisfaction Study. This marks a steady decline in customer... Read more
Purchase activity increases, refinance applications decrease in latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending May 29, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 658.7, a decrease of 16.2 percent... Read more
MBA study: Commercial and multifamily mortgage delinquency rates continued to rise in Q1
The weakening economy and continued credit crunch led to increases in commercial/multifamily mortgage delinquencies during the first quarter of 2009, according to the Commercial/Multifamily Delinquency Report, released today by the... Read more
United Way recognizes Wells Fargo with two Summit Awards for community efforts
United Way of America recently honored Wells Fargo & Company with two Summit Awards, part of its Spirit of America Awards program, recognizing the company’s outstanding commitment to Community Impact and Community Volunteerism. “In... Read more
FDIC board approves the creation of an Advisory Committee on Community Banking
The FDIC Board of Directors has approved establishing the FDIC Advisory Committee on Community Banking to provide the FDIC with advice and guidance on a broad range of important policy issues impacting small community banks throughout the... Read more
NAHB reports on April numbers: New home inventories continue to shrink
The number of newly built single-family homes on the market shrank to 297,000 units in April, thinning supplies to their lowest level since May 2001, according to government figures released today. The report noted that the pace of new-... Read more
Treasury Department and HUD announce $419 million in Recovery Act funds to create jobs and affordable housing
As part of the Obama Administration's effort to create jobs and ease pressures on the housing market, the U.S. Department of the Treasury today announced more than $330 million in American Recovery and Reinvestment Act (Recovery Act)... Read more