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NAHB - (10-10-07)"The National Association of Home Builders (NAHB) today applauded a new program called 'HOPE NOW' announced by Treasury Secretary Henry Paulson and HUD Secretary Alphonso Jackson that will help American families avoid foreclosure and stay in their homes. The initiative brings together foreclosure prevention counselors mortgage servicers and other mortgage merchandise participants in an alliance to help domiciliate owners who are facing default. It ordain provide at-risk borrowers the information and resources available in the marketplace that ordain accept them to keep their home by restructuring the terms of their mortgage or pursuing other options available to them."NAR - (10-10-07)"Conditions in the mortgage merchandise are improving for consumers which should back up to release some pent-up demand in early 2008 according to the latest anticipate by the National Association of Realtors®. Lawrence Yun. NAR senior economist notes that widening ascribe availability will help turn around domiciliate sales. 'Conforming loans are abundantly available at historically favorable owe rates. Pricing has steadily improved on jumbo mortgages since the August credit make noise and FHA loans are replacing subprime mortgages,' he said."Mortgage Bankers Association - (10-10-07)"Borrower social security information will no longer be validated in real time when a new case number assignment is requested in FHA Connection (FHAC). Edits in FHAC ordain continue to authorise the affix combination of the SSN as come up as check against the Social Security Administration’s (SSA) Death Master register. The FHAC will also act to validate SSNs using the borrower’s label. SSN and bring forth date."Mortgage Bankers Association - (10-10-07)"owe banking production profits cut to negative $50 per loan in 2006 from positive $258 per loan in 2005 according to the owe Bankers Association's (MBA) annual cost chew over. While production revenues increased on a per-loan basis this increase did not keep walk with the increase in production operating expenses which grew by 17 percent to $3,416 per loan in 2006."Mortgage Bankers Association - (10-10-07)"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 5. 2007. The Market Composite Index a measure of mortgage loan application volume was 652.0 an change magnitude of 2.4 percent on a seasonally adjusted basis from 636.7 one week earlier. On an unadjusted basis the list increased 2.4 percent compared with the previous week and was up 8.6 percent compared with the same week one year earlier."BaltimoreSun com - (10-10-07)"After every financial crisis over the past 10 years the Federal Reserve has cut interest rates and pumped money into the economy. Each rescue solved the problem - and created a new one. The next bomb from this chain reaction of bailouts and blowups ordain be credit-card debt. Hardly anybody is talking about it yet but banks and consumers are laying the ground for a wave of credit-card defaults bankruptcies and asset write-offs for 2009 or so."Fox News - (10-10-07)"Treasury Secretary Henry Paulson said the initiative would boost financial companies' efforts to back up an estimated 2 million homeowners whose introductory mortgages with low rates are resetting at much higher rates just as the housing industry suffers through its steepest downturn in 16 years."Bloomberg - (10-10-07)"Federal keep back policy makers signaled they are in no hurry to decrease interest rates again because they aren't convinced the U. S economic expansion is coming to an end. The Federal change state Market Committee avoided foreshadowing its next act after lowering the benchmark rate on Sept. 18 minutes of the meeting published yesterday showed. Officials didn't want investors to conclude extra cuts were guaranteed the records said."Bloomberg - (10-10-07)"Existing home sales this year probably will go to a five-year low worse than forecast signaling the U. S housing merchandise is far from hitting furnish. New-home sales may change state 24 percent to a 10-year low of 804,000 and existing home sales ordain fall 11 percent the National Association of Realtors said in a news release today. It was the 10th time this year the Chicago-based group lowered some part of its monthly housing and economic anticipate."Bloomberg - (10-10-07)"Goldman Sachs assort Inc. the world's biggest securities firm said its holdings backed by pools of bonds and loans dropped 53 percent in the third accommodate the second consecutive decline amid a global credit contraction. The 'fair determine' of retained interests in collateralized debt obligations and loan obligations was $1.77 billion at the end of August drink from $3.79 billion three months earlier the New York-based firm said in a regulatory filing. Investments in mortgage-backed securities cut 16 percent."express of San Diego - (10-10-07)"RealtyTrac has released new data on September's foreclosure filings -- the records filed when a house enters or reaches a new stage of foreclosure. Total foreclosure filings in San Diego County dipped by 2 percent between August and September (unlike the 80 percent jump between July and August). But year-over-year total filings rose by 206 percent."
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