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Mortgage Banking News
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• Foreclosure activity rises in most major metropolitan areas
Foreclosure activity climbed in three-quarters of the largest U.S. metropolitan areas in the first half of 2010, compared with the same period a year ago, but declined in some of the nation’s hardest-hit regions, according to data released Thursday. The number of properties in some stage of foreclosure rose during the first six months of the [...]
MortgageLatestNews,Admin, 07/30/2010
• Housing policy must be set on sustainable basis
The financial reform bill enacted last week is a significant step toward a much-needed modernization of our regulatory structure. It will provide tools to help mitigate and manage the next financial crisis. But the job remains unfinished until Congress addresses the housing policies that fueled the crisis — a big part of which requires reforming [...]
MortgageLatestNews,Admin, 07/30/2010
• Commercial, Multifamily Mortgage Originations Tick Upward in Q2 `10
Though volume remains low on an absolute level, commercial and multifamily mortgage loan originations seem to be on the journey upward. According to the Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations released Wednesday by the Mortgage Bankers Association, second quarter 2010 commercial and multifamily mortgage loan originations inched up 1 percent from the same period last year and surged 35 percent from the first quarter of this year.
DSNews.com,Admin, 07/30/2010
• Fiserv Predicts Home Prices to Drop Another 4.9% in Year Ahead
Despite recent increases in a number of the industry's home price measurements, and even an uptick in the company's own index of residential property prices, Fiserv Inc. says the gains will be short-lived.
The information technology firm is forecasting home prices to fall by another 4.9 percent over the next 12 months, as unemployment remains high, mortgage rates rise, and markets such as Florida, Arizona, and Nevada add even more distressed properties to their inventories.
DSNews.com,Admin, 07/30/2010
• Citi Charged with Misleading Investors about Subprime Exposure
The Securities and Exchange Commission (SEC) on Thursday charged Citigroup Inc. with misleading investors about the company's exposure to subprime mortgage-related assets. The SEC also charged former CFO Gary Crittenden and Arthur Tildesley, Jr., currently the head of cross marketing at Citigroup, for their roles in causing the company to make the misleading statements in an SEC filing.
DSNews.com,Admin, 07/30/2010
• Ellie Mae announces the addition of PHH Mortgage to Encompass 360 program
PHH Mortgage Corporation, a subsidiary of PHH Corporation, and Ellie Mae, the enterprise mortgage origination technology provider, have jointly announced that PHH Mortgage has been added as a lender to Ellie Mae’s Encompass360 Select program, which is exclusively accessed by preferred customers of Encompass360.
NationalMortgageProfessional.com,NMP Media Services, 07/29/2010
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