The Bush Administration said late last week that its FHASecure loan program would be expanded to help a larger number of less creditworthy borrowers by… Read More »FHASecure to Be Expanded Via Risk Based Premiums
Indymac Bancorp said today that it posted a $184.2 million first-quarter loss, or $2.27 per share, compared to profit of $52.4 million, or 70 cents… Read More »Indymac Posts First Quarter Loss, Won’t Profit in 2008
Shares of the nation’s top residential mortgage lender slid more than 20 percent this week as warnings from analysts and investor jitters took their toll… Read More »Countrywide Shares Fall 20 Percent Amid Deal Concerns
The New York State Assembly today passed a rather robust legislative package aimed at addressing the “national sub-prime lending crisis.” The four-bill bundle contains legislation… Read More »NY Assembly Passes One Year Foreclosure Moratorium Bill
Steve Bailey, Senior Managing Director of Loan Administration for Countrywide Financial, testified before the Senate yesterday, calling the recent allegations regarding its bankruptcy cases “unfounded”… Read More »Countrywide Addresses Bankruptcy Failings
The National Association of Realtor’s (NAR) Pending Home Sales Index dipped 1.0 percent to 83.0 in March, down from a revised 83.8 in February, and… Read More »Pending Home Sales Fall As Credit Remains Tight
Republican Gary Miller and Democrat Jerry McNerney introduced a bill today that would make the increase in home loan limits permanent in California. The pair… Read More »California Lawmakers Seek Permanent Loan Amount Increase
Banks continued to tighten credit guidelines for all types of loans during the first quarter of 2008, according to the Federal Reserve‘s latest Senior Loan… Read More »Fed Report: Banks Continue to Tighten Lending Standards
The percentage of refinances that were used for cash-out fell to the lowest level in four years during the first quarter, according to Freddie Mac’s… Read More »Freddie Mac: Cash-Out Refinances at Four Year Low
The Mortgage Bankers Association sent a letter yesterday to Fannie Mae, Freddie Mac, and the OFHEO, challenging the proposed changes to the appraisal code currently… Read More »MBA Opposed to OFHEO Appraisal Changes
