Interest Rate Markets News     Click to continue . . .

  •   MBA Hires Douglas Moritz to be Associate Vice President of Multifamily
John A. Courson, President and CEO of the Mortgage Bankers Association (MBA), today announced the appointment of Douglas Moritz as Associate Vice President of Multifamily.
Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  02/08/2010

  •   Mortgage Applications Increase in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 29, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased of 21.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 23.5 percent compared with the previous week.
Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  02/08/2010

  •   Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo
On the Saturday before Thanksgiving, Lesa Herron of Santa Rosa, Calif., opened a letter from Chase Home Finance [1] (PDF). She’d been denied a permanent modification under the federal government’s loan-mod program, Chase said, because “Your hardship is not of a permanent nature.”
Eye on the Bailout,Mike Webb,   02/08/2010

  •   Credit News From Premier By Louis S. Barnes February 5, 2010
The potential collapse of the euro currency, sinking stocks, and a dead job market here have combined to push long-term rates down. 10-year Treasurys are trading at 3.57% despite a huge new borrowing next week, and mortgages are 5.00% flat.
Premier Mortgage Group, Inc,Lou Barnes,Boulder Co  02/08/2010

  •   $10.9 Million HUD Lean Loan Funds Purchase of Manor Court of Peoria in Illinois, Cambridge Realty Capital Reports
Cambridge Realty Capital Companies has closed a $10.9 million FHA-insured HUD Lean mortgage loan to fund the purchase of Manor Court of Peoria, a 118-bed combination skilled nursing and assisted living property located in Peoria, IL.
Cambridge Realty Capital Ltd,Debbie Glienke,Chicago Illinois  02/08/2010

  •   Workouts Take Center Stage Amid Historic Real Estate Collapse
-LeClairRyan attorney Jeffrey Marley Zalkin highlights bankruptcy-related strategies in seminar for negotiators and risk managers of real estate loans
LeClairRyan,Marty Gitlin,New York   02/08/2010

Mortgage Lending News     Click to continue . . .

  •   Minnesota Bank Shuttered by Regulators
Multiple bank closures have become commonplace on Friday evenings, but last week, regulators shut the doors on just one institution – 1st American State Bank of Minnesota. The bank operated two local branches in Hancock, with $16.3 million in deposits and $18.2 million in total assets. It was acquired by Community Development Bank, also in Minnesota.
DSNews.com,Admin,   02/09/2010

  •   Bank of America Extends More Than $758 Billion in Credit During 2009
Bank of America extended more credit in 2009 than any other U.S. bank, according to the bank's fourth quarter Lending & Investing Initiative Report. Released Friday, the report noted the extension of more than $758 billion in credit during 2009, including nearly $180 billion during the fourth quarter alone. The report outlines the bank's progress in driving economic recovery through 10 key areas, including lending to consumers and businesses of all sizes, support for municipalities and nonprofits, community development, and other initiatives.
DSNews.com,Admin,   02/09/2010

  •   ResCap`s Ditech Operations Relocating to Pennsylvania
GMAC Financial Services has announced plans to relocate its Ditech business, which is part of the company's mortgage subsidiary Residential Capital, LLC (ResCap), to the corporate center in Fort Washington, Pennsylvania. GMAC said Ditech "was not performing up to expectation in its previous configuration," and expects the move to improve operational efficiencies by leveraging a common infrastructure for both Ditech and GMAC Mortgage.
DSNews.com,Admin,   02/09/2010

  •   RE/MAX Dominates Twin Cities Metro Market in 2009
Despite the static housing economy, RE/MAX, a global real estate company based in Denver, earned No. 1 market share status in the Twin Cities 13-county metro for number of listings sold between January 1, 2009 and December 31, 2009. In addition to earning No. 1 market share in the Twin Cities 13-county metro, RE/MAX agents proved to be the most productive agents in the metro for 2009, the company said.
DSNews.com,Admin,   02/09/2010

  •   Commercial Real Estate Lenders Looking to Rebuild Portfolios
The distressed commercial real estate market has made it difficult for potential property owners and opportunistic investors to secure funding for new deals, as widespread losses on such assets have led banks to shy away from extending credit in recent months. But according to new data from Jones Lang LaSalle that tide appears to have turned, with a growing number of lenders to the commercial real estate sector anticipating an increase in loan production this year.
DSNews.com,Admin,   02/09/2010

  •   iEmergent Updates 2010-2014 Mortgage Volume Forecast
Noting a decrease in both purchase volume and refinance activity from 2009, the first-quarter update to iEmergent's formal 2010-2014 Mortgage Volume Forecast was recently released by the Des Moines, Iowa-based market research, forecasting, and advisory services firm
DSNews.com,Admin,   02/09/2010