The Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recovery Act of 2008 (HERA) to set such goals for targeted segments of the mortgage market The new rules establish three goals for single-family, owner-occupied home purchases; one for low-income families, another for very low-income families, and a third for families living in geographical areas with lower-income populations, areas with high concentrations of minority residents, or federal declared disaster areas. The goal for disaster areas contains a sub-goal to ensure that the needs of lower-income and minority areas are addressed. A goal has also been established for…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Vertis Holdings Announces Important Updates Regarding Its Previously Announced Refinancing Transactions
BALTIMORE–(BUSINESS WIRE)–Vertis Holdings, Inc. (“Holdings”) announced today several important updates regarding its previously announced comprehensive refinancing (the “Refinancing Transactions”) of substantially all of its principal operating subsidiary Vertis, Inc.’s (“Vertis”) outstanding secured and unsecured indebtedness. The purpose of the Refinancing Transactions is to reduce overall … Vertis Holdings Announces Important Updates Regarding Its Previously Announced Refinancing Transactions news source : http://www.businesswire.com/news/home/20100901005810/en
City saving residents money by refinancing bonds
Englewood’s decision to take advantage of lower interest rates and refinance two series of bonds means that Englewood homeowners will pay about 0,000 less in property taxes over the life of the bonds. City saving residents money by refinancing bonds news source : http://www.coloradocommunitynewspapers.com/articles/2010/09/02/englewood_herald/news/27_tm_bonds_en.txt
Mortgage Refinancing Tips
www.mortgage–refinance.biz – Mortgage Refinancing Tips – If you’re thinking about getting your mortgage refinanced, here are some quick tips on what you should know before calling the bank. Video Rating: 0 / 5
The Census Bureau today released Construction Spending data for July 2010. Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of original building. It includes construction of additional housing units in existing residential structures, finishing of basements and attics, modernization of kitchens, bathrooms, etc. Also included are improvements outside of residential structures, such as the addition of swimming pools and garages, and replacement of major equipment items such as water heaters, furnaces and central air-conditioners. Maintenance and repair work is not included. The value of all construction put in place in the U.S. on an annualized basis was 5.2 billion compared to a rate of 3.1 billion…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
News: Recap and Charts: July Construction Spending Data
U.S. mortage applications rise on low rates
U.S. mortgage applications for home purchasing and refinancing increased last week as interest rates hit a new low, a glimmer of hope for a housing market that has failed to find footing in the absence of government support U.S. mortage applications rise on low rates news source : http://www.financialpost.com/mortage+applications+rise+rates/3468446/story.html
In the wake of a full week full of bad economic news, especially housing indicators, Secretary of Housing and Urban Development (HUD) Shaun Donovan appeared on CNNs Sunday morning news and interview program State of the Union . Host Ed Henry prefaced the interview with July housing numbers – a 27 percent decline in existing home sales and new home sales at their lowest levels since 1963 . “Many analysts,” Henry said, “believe that housing started this whole financial crisis. We saw some pretty grim headlines this week sparking some fears about a double dip recession.” He asked Donovan, what he could say to reassure Americans that this will not happen. Donovan said that the dip in house sales in July was not unexpected because it would mark the end of the homebuyers’ tax credit that had been…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
News: HUD Secretary Tiptoes Around Another Tax Credit, Pushes Balanced Housing Policy
Kingdom Centre Gets 7 Million Islamic Refinancing From Samba Financial
Kingdom Holding Co., an investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal, said it got 700 million riyals in Shariah-compliant refinancing through Samba Financial Group. Kingdom Centre Gets 7 Million Islamic Refinancing From Samba Financial news source : http://www.bloomberg.com/news/2010-08-29/kingdom-centre-gets-187-million-islamic-refinancing-from-samba-financial.html
The first Conservator's Report on the Enterprises' Financial Performance issued by the Federal Housing Finance Agency on Thursday makes an argument that the Government Sponsored Enterprises' role in the housing market was and still is vital. It also paints a picture of their fall prior to being placed in federal conservatorship in the fall of 2008. Some observers are already pointing to it as a map for the eventual reorganization of the two government sponsored enterprises. Another way of viewing the report is that is presents a strong argument for leaving the GSEs in charge. According to the report, in 2003, 62 percent of all mortgages originated in the country were conventional/conforming loans. Another 20 percent or so were FHA or jumbo loans; only 8 percent were subprime and…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
News: Conservator’s Report: A Different View of the GSE’s Demise
Mortgage rates continue to fall amid unemployment and economic woes
Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening. Unemployment – United States – Business – Financial Services – Mortgages Mortgage rates continue to fall amid unemployment and economic woes news source : http://www.washingtonpost.com/wp-dyn/content/article/2010/08/26/AR2010082607256.html?wprss=rss_business/localbusiness
While it reported that most delinquency figures dropped substantially in the second quarter, the Mortgage Bankers Association's National Delinquency Survey also carried some dishearting harbingers of what might lie ahead. The report showed the seasonally adjusted delinquency rate for all loans at 9.85 percent, a drop of 21 basis points from the first quarter but 61 basis points higher than it was during the second quarter of 2009. Delinquency rate figures include all loans that are at least one payment past due, but do not include loans in the process of foreclosure. When those are added into the total the delinquency rate rises to 13.97 percent compared to 14.01 in the first quarter. Foreclosure actions were started on 1.11 percent of loans, down from 1.23 percent in the first quarter…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
