chaffling / Voted

WaMu Job Cuts and Closings



More Rate Cuts Could Be Necessary from the Fed, Says IMF



MBA Mortgage Applications Rebound in First Week of April



Fed's Kroszner Says Fannie Mae, Freddie Mac Should Increase Capital



Mortgage Rates Drift During Most Recent Survey Week



Some FOMC Members Saw Risk of "Prolonged and Severe" Downturn, Minutes Show read more »
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WASHINGTON - The Bush administration announced new steps Wednesday to help more homeowners head off foreclosure. read more »
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This morning the Mortgage Bankers Association (MBA), in its Weekly Mortgage Applications Survey for the week ending April 4, announced that the Market Composite Index, which measures mortgage loan application volume, increased 5.4 percent from one week earlier. read more »
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The International Monetary Fund released a report that projected total losses from the current credit crises. Commercial mortgage-related losses are forecast at $240 billion. Losses related to residential mortgages are projected to reach $565 billion. In all, including corporate loans and consumer loans, total securitized and unsecuritized losses were forecasted at $945 billion. read more »
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A mortgage broker pricing study was announced Tuesday by the Center for Responsible Lending. The group said that during the first four years of a loan, a typical subprime borrower who uses a mortgage broker pays $5,222 more than if he or she obtained the loan directly from a lender. The additional costs, which were based on a $166,000 loan, were the result of yield spread premiums earned by brokers. read more »
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The FHASecure program has been expanded for borrowers who have be responsible with past credit, the Federal Housing commissioner -- assistant secretary for housing for the Department of Housing and Urban Development testified . He said FHA will now insure loans up to 97 percent loan-to-value for borrowers with two late payments during the past 12 months. The agency will also insure 90 percent LTV loans for borrowers with up to three months of delinquency. read more »
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As of early April, there were already at least 67 subprime-related securities class actions, according to a report announced by RiskMetrics Group. And the number of subprime-related lawsuits last year was "significant." Among defendants reportedly targeted by the wave of lawsuits are underwriting firms, investment managers, home builders, and mortgage lenders, RiskMetrics said. read more »
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Democratic presidential candidate Barack Obama criticized Countrywide Financial Corporation, one of the biggest mortgage companies in the US, for its participation in the current mortgage crisis. He denounced the fact that the company executives will receive millions of dollars while homeowners are forced to sell their homes and workers lose their pensions. Obama stated [...] read more »
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Senate, House to push housing measures



Michelle Obama Talks Couple's Finances



Pending Home Sales Hit Low in February



Greenspan Says U.S. Already in Recession



Government announces new cash grants for affordable housing



Sub-prime could cost $945 billion - IMF read more »
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