September-November 2008.(Calendar of Events)(Calendar)
September
2008
Sept. 4-5 Iowa Mortgage Association Annual Convention, Des Moines,
Iowa [www.iowama.org/calendar.cfm]
Sept. 4-6 Mortgage Bankers Association of the Carolinas (MBAC) . . .
Letters.(Letter to the editor)
DEAR EDITOR:
The June issue of Mortgage Banking contained an article entitled,
"Fraud, Mortgage-Backed Securities and Ginnie Mae." The piece
raised questions about Ginnie Mae's practice of . . .
No more cloudy days.(Executive Suite)
Big fans of the legendary rock band The Eagles surely have heard
the group's new song and lyrics, "these cloudy days make you
want to cry." Those of us in the mortgage industry can . . .
Message from the chairman.
As you may already know, on July 22, Mortgage Bankers Association
(MBA) President and Chief Executive Officer Jonathan L. Kempner
announced that he would be stepping down from his role at MBA on . . .
The Ticker.(Briefing Book)(Statistical table)
Company Ticker Price Price 52-Week 52-Week
Symbol Close Close High Low
7/31/08 6/30/08
Fannie Mae . . .
Ginnie Mae tops $3 billion in jumbo loan securitizations in four
months.(Briefing Book)(Brief article)
Ginnie Mae announced in July that securitization of FHA jumbo loans
soared past $2.9 billion in only four months of issuance--the highest
rate of issuance among all agency mortgage-backed . . .
Q2 homeownership rate inches up.(Briefing Book)(Brief
article)
The percentage of Americans owning their own homes rose marginally
during the second quarter of 2008, according to the U.S. Census Bureau.
At 68.1 percent, the second quarter's homeownership rate . . .
Freddie Mac doubles down on foreclosure-prevention
incentives.(Briefing Book)(Federal Home Loan Mortgage Corp.)
Freddie Mac announced in late July it has informed mortgage
servicers that it was doubling the amount of money Freddie pays for each
workout that keeps a delinquent borrower with a Freddie . . .
NAR: Foreign home-buyers a 'significant share' of
business.(Briefing Book)(National Association of Realtors)
International real estate purchases in the United States continued
to account for a significant share of business for many real estate
agents over the last year, according to the National . . .
Moody's cuts Wachovia's ratings; outlook
negative.(Briefing Book)
New York--based Moody's Investors Service announced in July it
had downgraded its ratings both on Wachovia Corporation and on its lead
bank, Wachovia Bank NA, both based in Charlotte, North . . .
HUD settles RESPA kickback charges with hazard-reporting
company.(Briefing Book)(Department of Housing and Urban Development
)
A California-based hazard-reporting company and three real estate
brokerages will pay a combined $35 million--much of it to California
consumers who purchased hazard-disclosure reports dating back . . .
Courson tapped to succeed Kempner at MBA.(Briefing Book)(Mortgage
Bankers Association)
The Mortgage Bankers Association announced in mid-July a change in
leadership for 2009, with President and Chief Executive Officer Jonathan
L. Kempner announcing he would step down at year's end to . . .
Major housing bill becomes law.(Briefing Book)
Along-awaited major housing bill that would create a new regulator
for the government-sponsored enterprises (GSEs), as well as modernize
the Federal Housing Administration (FHA) and provide funding . . .
Rewriting the rules.(Portfolio)(Editorial)
In late July, President Bush signed a bill that will usher in
sweeping changes to the mortgage lending landscape. There are so many
components to the newly enacted Housing and Economic Recovery Act . . .
Housing activity.(Vital Statistics)(Statistical table)
Residential Structures
(Thousands of Units, SAAR)
BY TYPE OF UNIT
HOUSING STARTS BUILDING PERMITS
Total Single- Multi- Total . . .
Key economic indicators and interest rates.(Vital
Statistics)
CONSUMER PRICES,
YEAR-OVER-YEAR
CHANGE (%)
CHANGE IN
PAYROLL . . .
Mortgage applications indexes.(Vital Statistics)(Statistical
table)
MARKET COMPOSITES
(Unadjusted)
Market Purchase Refinance FRM ARM
Index Index Index Index Index
JUN-07 664.6 482.2 . . .
Top 25 counties--existing-home transactions.(Marketrac
[R])(Statistical table)
Top 25 Counties--Existing-Home Transactions
First-Quarter 2008, Nationwide/Sort Order: Number of Loans
Rank County Count Dollar Amount Market Avg
. . .
Top 25 counties--new-home transactions.(Marketrac[R])(Statistical
table)
Top 25 Counties--New-Home Transactions
First-Quarter 2008, Nationwide/Sort Order: Number of Loans
Rank County Count Dollar Amount Market Share Avg Amount
1 HARRIS, TX 3,101 . . .
Best- and worst-performing counties by 3-month and 1-year HPI
change.(Home-Price Spotlight)
10 Best-Performing Counties by 3-Month HPI Change
County/State 3-Month HPI Repeat-Sales Median
Change Home Price
ANDERSON TN 5.79% $114,700
AIKEN, SC . . .
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