Blog Title: Consumer Mortgage Reports

All the latest mortgage news, videos, information, where to get your mortgage, when to get a mortgage, where to find your best interest rates, articles and editorials.

House Price Declining Values Slows In Senond Quarter

WASHINGTON, DC ? U.S. home prices fell in the second quarter of 2008 according to OFHEO?s seasonally-adjusted purchase-only house price index. The index, which is based on data from home sales, was 1.4 percent lower on a seasonally-adjusted basis in ... read more

Government Sponsored Enterprise Ratings Downgraded

The preferred stock ratings of Freddie Mac and Fannie Mae have been downgraded from A1 to BAA3 by Moody's Investors Service. Additionally, Fannie and Freddie's Bank Financial Strength Ratings has been downgraded from B minus to D plus. The downgraded ratings ... read more

Federal Open Market Committee Holds At 2%

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. However, labor markets have softened ... read more

Loan Limits Slated To Be $625,000

House and Senate negotiators have reached an agreement on loan limits, and it appears that the maximum amount for the Government Sponsored Enterprise (GSE)Fannie Mae, Freddie Mac, and Federal Housing Administration FHA loans will be $625,000. Negotiations on a ... read more

This Week In Mortgage News

This week will be interesting for the bond market and mortgage rates. There are five remaining economic reports scheduled for release, but only one of them is considered to be of high importance to the markets. With data being posted all but one day of the week, we may see some noticeable fluctuations from day read more..

Federal Banking and Thrift Agencies Issue Final Guidance on Supervisory Review Process

The federal banking and thrift agencies today issued final guidance outlining the supervisory review process for banking organizations implementing the new advanced capital adequacy framework known as Basel II.  The final guidance relating to supervisory review is aimed at helping ... read more

Federal Reserve Issues Rule Amending Regulation Z (Truth in Lending)

The Federal Reserve Board on Monday approved a final rule for home mortgage loans to better protect consumers and facilitate responsible lending. The rule prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage ... read more

IndyMac Federal Bank Receives Government Support

IndyMac will cover 50% of uninsured deposits as IndyMac Federal Bank. The government is stepping in to support IndyMac. Having just changed its name from IndyMac Bancorp after it was seized Friday. The FDIC has assumed control saying it will cover ... read more

FDIC Says Deposits in Failed IndyMac Bancorp Are ?Safe?

Two days after the Federal Deposit Insurance Company took over California based IndyMac Bancorp Inc, officials say the bank will reopen Monday morning (Today) for business as usual.

Charles Schumer Is Politically Irresponsible

Build it and they will come....Mr. "Senate Banking Committee" We have all heard this and very similar statements. Lets take a look at the strategies Charles Schumer is utilizing to help our economy. Our credit markets are in turmoil, it is harder ... read more

Mortgage Stocks Dive Again

Financial stocks, especially those tied to the mortgage industry, helped fuel a 237-point drop in the Dow Jones industrial average on Wednesday. Freddie Mac's shares plunged by $3.20, or 24%, on the day, closing at a new 52-week low of $10.26. Fannie Mae's shares fell $2.31, or 13%, to close at $15.31. read more..

OFHEO Releases Statement To Ease Mortgage Tension

?OFHEO has been monitoring and continues to monitor closely Fannie Mae , Freddie Mac and the mortgage and financial markets. As one would expect, we are carefully watching the Enterprises? credit and capital positions. As I have said before, they ... read more

Why Is It Taking So Long HUD?

It appears that HUD is trying to pilot a FHA Foreclosure Prevention but as simple as it appears, why has it taken so long? The Department of Housing and Urban Development is starting a pilot program in Detroit to purchase ... read more

Foreclosure Filings Dip 3% But Still 51% Higher Than Same Time Last Year

Foreclosure filings declined 3% in June but were still 51% higher than the level recorded a year earlier, according to RealtyTrac. The company's U.S. Foreclosure Market Report indicates that foreclosure of 252,363 filings that consist of default notices, auction sale ... read more

Interview with FDIC Chairman Sheila Bair

One company in the news is IndyMac. It heated up again yesterday, they are blaming comments from Senator Charles Schumer for big withdrawals and now the Senator is firing back saying they were on the rocks anyway. Everyone questions that ... read more