August 2008

The FHA announced Tuesday it was halting its risk-based pricing structure beginning October 1 in accordance with the new housing bill and raising its upfront… Read More »FHA to Raise Upfront Premiums

The FDIC said its “problem list” of banks grew to 117 institutions in the second quarter as reported net income earned by FDIC insured commercial… Read More »FDIC Problem List Grows as Second Quarter Earnings Plummet

Existing home sales increased 43.4 percent last month in California as the median price plummeted 40.3 percent, the California Association of Realtors reported today. The… Read More »California Existing Home Sales Surge in July

Home prices slipped a record 15.4 percent in the second quarter of 2008 from the same period a year ago, according to the S&P/Case-Shiller U.S.… Read More »Home Prices Post Record Decline in Second Quarter

Outspoken FDIC Chairman Sheila Bair today announced a loan modification plan for troubled Indymac borrowers who are currently behind on their mortgage payments. The aim… Read More »FDIC Launches Loan Modification Program for Indymac Borrowers

Shares of government mortgage financiers Fannie Mae and Freddie Mac stumbled badly today after a Barron’s report pointed to an impending Treasury bailout. Barron’s Jonathon… Read More »Fannie and Freddie Plummet on Bailout Fears

Foreclosure activity increased eight percent in July from June and was up 55 percent from the same period a year earlier, according to the latest… Read More »Bank Repos Up Nearly 200 Percent from Year Ago

U.S. home values fell a staggering 9.9 percent year-over-year in the second quarter, the largest drop in the past 12 years, according to Zillow. The… Read More »Home Values Off Nearly 10 Percent in Second Quarter

Freddie Mac announced today that it would no longer buy mortgages in New York State that fall under the state’s new definition of “subprime home… Read More »Freddie Mac to Stop Buying Subprime Loans in New York