Mortgage

WASHINGTON, DC - December 7, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to the Coquille Valley Hospital District in Coquille, Oregon. The $22 million loan is made possible through the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program.

WASHINGTON, DC - December 7, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to the Effingham County Hospital Authority in Springfield, Georgia. The $31 million loan is made possible through the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program.

WASHINGTON, D.C. - December 7, 2010 - (RealEstateRama) -- On Monday, December 6, 2010, The Mortgage Bankers Association, (MBA) submitted the attached comment letter to the Federal Housing Administration (FHA) on the proposed guidance for the Department of Housing and Urban Development (HUD), Federal Housing Administration Single Family Insurance process: Eligibility, Indemnification, and Termination. The proposed rule, which would affect lenders who participate in the Lender Insurance (LI) process, would provide more stringent indemnification requirements regarding mortgagee indemnification to HUD

McLean, VA - December 7, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it expects to begin providing on a monthly basis pool-level delinquency disclosures on its single-family Mortgage Participation Certificate (PC) and Giant PC securities

PORTLAND, OR - December 6, 2010 - (RealEstateRama) -- Beniamin Lucian Lucescu, 41, of Portland, Oregon, was convicted yesterday of the crimes of bank fraud and wire fraud following a three-day jury trial. Lucescu is scheduled to appear before U.S. District Judge Michael W. Mosman on February 11, 2011 for sentencing on these charges.

LOS ANGELES, CA - December 6, 2010 - (RealEstateRama) -- With a new criminal case being filed this morning, federal authorities have now charged three defendants for their roles in a foreclosure rescue scam that promised the owners of hundreds of distressed properties that they could indefinitely postpone foreclosure sales.

December 6, 2010 - (RealEstateRama) -- A $1.3 million grant for the state’s Mortgage Crisis Job Training Program is expected to gain approval when the State Bond Commission meets later this week, news that state Senator Bob Duff (D-Norwalk), Senate chair of the General Assembly’s Banks Committee, welcomed today.

VIENNA, VA - December 6, 2010 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN) today proposed a requirement that non-bank residential mortgage lenders and originators, like other types of financial institutions, establish anti-money laundering (AML) programs and comply with suspicious activity report (SAR) regulations

Washington, DC - December 3, 2010 - (RealEstateRama) -- Today, House Judiciary Committee Chairman John Conyers, Jr. (D-Mich.) led a full committee hearing on "Foreclosed Justice: Causes and Effects of the Foreclosure Crisis," in which the Committee discussed with invited witnesses the government’s response to the country’s foreclosure crisis.One of the witnesses, a New York bankruptcy judge, testified that he had routinely encountered in his court foreclosure attorneys who: failed to know who they represented, lacked the underlying note evidencing their entitlement to seek foreclosure, failed to establish the legal chain of title establishing the standing of their client-mortgagees, and submitted to the court false affidavits attesting to the ownership of the note and mortgage

WASHINGTON, D.C. - December 3, 2010 - (RealEstateRama) -- The National Association of Home Builders (NAHB) has launched a newly-designed consumer-oriented website, www.SaveMyMortgageInterestDeduction.com, to provide up-to-date information on the threat to the mortgage interest deduction.

HOUSTON, TX - December 2, 2010 - (RealEstateRama) -- Four employees of Central Capital Financial Group have been sentenced to prison for running a mortgage fraud scheme, United States Attorney José Angel Moreno announced today. United States District Judge Nancy F. Atlas handed down the sentences in federal court in Houston on Monday and Tuesday of this week.

WASHINGTON, D.C. - December 2, 2010 - (RealEstateRama) -- Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association, today issued the following statement reacting to the proposal from the co-chairs of the National Commission on Fiscal Responsibility and Reform.

LOS ANGELES, CA - December 2, 2010 - (RealEstateRama) -- In response to recommendations in the Deficit Reduction Commission report released today, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said it strongly opposes any changes that would modify or reduce the mortgage interest deduction.

McLean, VA - December 2, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the both fixed- and shorter-term mortgage rates rose this week. This was the third week in a row where fixed-rate mortgage rates were up

Washington, DC - December 1, 2010 - (RealEstateRama) -- Delinquency rates for different commercial/multifamily mortgage investor groups were mixed in the third quarter, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. The delinquency rate for loans held in CMBS is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990's, some by large margins.

WASHINGTON, D.C. - December 1, 2010 - (RealEstateRama) -- ” The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 26, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 16.5 percent on a seasonally adjusted basis from one week earlier. This week's results include an adjustment to account for the Thanksgiving holiday. On an unadjusted basis, the Index decreased 34.2 percent compared with the previous week

McLean, VA - December 1, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today announced it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 20, 2010 to January 3, 2011.

McLean, VA - December 1, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it priced its new 0.625% $4 billion two-year USD Reference Notes® security due on December 28, 2012. The issue, CUSIP number 3137EACQ0, was priced at 99.866 to yield 0.69%, or 17 basis points more than two-year U.S. Treasury Notes. The issue will settle on Thursday, December 2, 2010.

Washington, DC - December 1, 2010 - (RealEstateRama) -- The three co-creators of Foreclosure-Response.org – Local Initiatives Support Corporation (LISC), the Urban Institute, and the Center for Housing Policy – have compiled and released new data on seriously delinquent mortgages for all 366 U.S. metro areas. “Seriously delinquent” mortgages are those that are delinquent 90 days or more or are in the foreclosure process. Homeowners experiencing serious delinquency are at substantial risk of losing their homes.

Washington, DC - December 1, 2010 - (RealEstateRama) -- The following is a statement by National Association of Realtors® President Ron Phipps. “As the leading advocate for housing and home ownership issues, NAR firmly believes that the mortgage interest deduction (MID) is vital to the stability of the American housing market and economy.

MILFORD, CT - November 30, 2010 - (RealEstateRama) -- Hartford National Title, Inc., a leading provider of title insurance and real estate closing services, announced today the launch of OneSourceQuote, its new Good Faith Estimate (GFE) and HUD-1 title calculator. This free online application is the byproduct of many months’ worth of developmental efforts and testing by programmers, staff, and beta clients.

McLean, VA - November 30, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it auctioned a $1 billion reopening of its 0.875% three-year USD Reference Notes® security that matures on October 28, 2013. The stop yield for the issue, CUSIP 3137EACL1, was 0.869%, priced at 100.016468, or approximately 16.3 basis points more than three-year U.S. Treasury Notes. The bid-to-cover ratio was 2.915 to 1.

McLean, VA - November 30, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) announced today the results of its third quarter Conventional Mortgage Home Price Index (CMHPI).

McLean, VA - November 30, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it plans to issue a new two-year USD Reference Notes® security, CUSIP number 3137EACQ0, due on December 28, 2012. The issue will be priced on Wednesday, December 1, 2010, and will settle on Thursday, December 2, 2010, at benchmark size.

BISMARCK, ND - November 29, 2010 - (RealEstateRama) -- The dream of homeownership has become a reality for more than 35,000 North Dakota families thanks to the North Dakota Housing Finance Agency’s (NDHFA) FirstHome™ program. The Agency recently marked its 35,000th first-time homebuyer loan.

November 29, 2010 - (RealEstateRama) -- Minnesota Attorney General Lori Swanson today filed lawsuits against two out-of-state companies that charged Minnesota homeowners up to $3,500 in unlawful fees to help them renegotiate their home mortgages. In both cases, the companies used the threat of prevalent mortgage modification assistance scams to convince homeowners to pay money to their companies. In the midst of the ongoing housing crisis, the Attorney General warned citizens not to pay advance fees to firms for mortgage help

BOSTON, MA - November 26, 2010 - (RealEstateRama) -- A local mortgage broker has pled guilty in connection with participating in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area, Attorney General Martha Coakley’s Office has announced.

November 25, 2010 - (RealEstateRama) -- Attorney General Mills announced progress in her negotiations with GMAC Mortgage LLC and Bank of America regarding their foreclosure practices in Maine. GMAC has agreed that it will temporarily halt sales on homes that have been foreclosed on, pending further talks to resolve the Attorney General’s concerns about the company’s foreclosure procedures

MADISON, WI - November 24, 2010 - (RealEstateRama) -- John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Amy B. Strait was sentenced today by U.S. District Judge William M. Conley to three months in federal prison in a prosecution stemming from a federal investigation of bank fraud and tax fraud. The prison sentence will be followed by a two-year term of supervised release

McLean, VA - November 24, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) edged up slightly this week. The 5-year ARM also rose, while the 1-year ARM fell a bit from the previous week.