http://www.justhomemortgages.com One of the largest collections of current information and news about home mortgages. Tue, 06 Jan 2009 21:15:15 +0000 http://backend.userland.com/rss092 en Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday. More: continued here http://www.justhomemortgages.com/2009/01/06/pending-home-sales-plunge-to-record-low/ Mortgage rates are at historic lows and may be poised to go even lower next year. It's a great time to buy a home — if you can. More: continued here http://www.justhomemortgages.com/2009/01/06/mortgages-what-you-need-to-know-in-2009/ In what seemed like a New York-minute, prices of luxury homes in Manhattan are suddenly falling. More: continued here http://www.justhomemortgages.com/2009/01/06/manhattan-luxury-housing-feeling-the-pinch/ Reuters - The Federal Reserve on Monday kick-started its latest unconventional program to boost the moribund economy, this time taking aim at the heart of the slumping housing market. More: continued here http://www.justhomemortgages.com/2009/01/06/fed-buys-mbs-in-latest-unconventional-move-reuters/ AFP - US auto sales crashed again in December as the industry posted its worst year since 1992 and the Detroit Three saw their annual share of their home market slip beneath 50 percent for the first time, industry data showed Monday. More: continued here http://www.justhomemortgages.com/2009/01/06/us-auto-sales-crash-as-2008-sales-hit-lowest-level-since-1992-afp/ Reuters - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year. More: continued here http://www.justhomemortgages.com/2009/01/06/lawmakers-set-new-mortgage-bankruptcy-bill-reuters/ Reuters - Top economists at the Allied Social Sciences Association's annual meeting have been searching -- in some cases, in vain -- for signs of life in the U.S. housing market, a key element for busting the country out of a deep economic downturn. More: continued here http://www.justhomemortgages.com/2009/01/06/economists-seek-solutions-signs-of-life-in-housing-reuters/ AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday. More: continued here http://www.justhomemortgages.com/2009/01/06/british-house-prices-sink-by-record-amount-in-2008-ap/ AP - The National Association of Realtors says pending home sales fell to the lowest level on record in November, as the plummeting stock market and faltering economy caused buyers to put their purchases on hold. More: continued here http://www.justhomemortgages.com/2009/01/06/pending-home-sales-plunge-to-record-low-in-nov-ap/ Reuters - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines. More: continued here http://www.justhomemortgages.com/2009/01/06/home-sales-tumble-to-7-year-low-reuters/ AP - The dollar rose against most major currencies Tuesday despite disappointing readings on pending home sales and factory orders, as speculation mounted that the European Central Bank will continue its rate cut campaign in the face of declining inflation across the euro zone. More: continued here http://www.justhomemortgages.com/2009/01/06/dollar-up-despite-disappointing-economic-readings-ap/ AP - A measure of the U.S. services sector improved slightly in December, beating analysts' estimates, but pending home sales and factory orders both fell more than expected and the overall economic outlook remains grim. More: continued here http://www.justhomemortgages.com/2009/01/06/us-service-sector-improves-slightly-in-dec-ap/ An investigation by New York's attorney general into discriminatory lending practices at GreenPoint Mortgage Funding Inc. prompted the state to launch an investigation into mortgage brokers. So far, two mortgage brokers have settled with the state, while a third has been sued. "The office is continuing its investigation into potential ... http://www.justhomemortgages.com/2009/01/06/greenpoint-brokers-targeted-by-new-york/ A stimulus plan was proposed to Congress by President-elect Barack Obama. The upcoming administration is calling for existing cabinet members to use their existing authority to step up loan modifications. He is recommending clarification of servicers' legal liability when they modify loans. Obama is also advocating bankruptcy-code reform that would ... http://www.justhomemortgages.com/2009/01/06/the-modification-president/ During 2008, consumer bankruptcy filings were one-third higher than in 2007, the American Bankruptcy Institute reported. Fourth-quarter 2008 filings were up around 4 percent from the third quarter. But December filings fell 15 percent from November. More: continued here http://www.justhomemortgages.com/2009/01/06/bankruptcy-activity-mixed/ The Federal Reserve Bank of New York said that it has begun purchasing agency-guaranteed mortgage-backed securities. The plan calls for the purchase of up to $100 billion in direct obligations and up to $500 billion in MBS. The fed also created an operating subsidiary to acquire nearly $40 billion in ... http://www.justhomemortgages.com/2009/01/06/fed-becomes-mammoth-secondary-player/ Moody's Investors Service said that it lowered LoanCare Servicing Center Inc.'s servicer quality rating for prime mortgages to SQ4+. Moody's attributed the downgrade to the bankruptcy filing of the company's parent. Last month, Fitch Ratings announced it lowered LoanCare's prime servicer rating. More: continued here http://www.justhomemortgages.com/2009/01/06/loancare-servicer-ratings-downgraded-again/ Undaunted by the holiday season, consumers continued to apply for mortgages in record numbers last week, according to the latest Weekly Mortgage Applications Survey, released today by The Mortgage Bankers Association (MBA).Read More More: continued here http://www.justhomemortgages.com/2009/01/06/due-to-low-mortgage-interest-rates-homeowners-continue-to-apply-for-mortgages-in-record-numbers/ We just got the release of the final 3 rd quarter gross domestic product and the number came in right where expected at -0.5%. No reaction from the bond market or stock market on the release. Yesterday was a rough day to be a mortgage backed security...(read more) More: continued ... http://www.justhomemortgages.com/2009/01/06/tuesday-1223%e2%80%a6final-gdp-for-3rd-quarter/ Thought i would give everyone a quick update. Our favorite mbs coupon, the 4.5, has moderately improved today. Since close yesterday, we are up 7 ticks. Some lenders repriced for the better today. Still a very low volume day. Tomorrow the bond market...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/tuesday-1223-mbs-move-higher/ So far this morning, mortgage backed securities are up on the day following yesterdays gains. The volume continues to be very light so any large trades can have a bigger impact on overall pricing for the day. The market closes early at 2pm eastern and...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/wednesday-1224%e2%80%a6tons-of-economic-data/ We had a little Christmas Eve rally, with the current mortgage backed security closing 7 ticks higher. Merry Christmas, be back on Friday....(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/wednesday-1224end-of-day-update/ Mortgage backed securities opened basically where they closed on Wednesday. There are no economic reports to be released today and we should see a very low volume of trades. I do not suspect that we will have a rally or a big sell off, much more likely...(read more) More: continued ... http://www.justhomemortgages.com/2009/01/06/friday-1226%e2%80%a6should-be-a-slow-day/ So far this morning, mortgage backed securities are continuing their winning ways and are higher on the day. Remember, as the price of mbs moves higher, the yield or mortgage rates, moves lower. This week is very light on data and is shortened due to...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/monday-1229%e2%80%a6another-shortened-holiday-week/ Mortgage backed securities are having a very ugly start to the day. Yesterday, mbs rallied early then sold off to close about where they opened but it appears the downward pressure will continue today. No real cause for the selling other then very light...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/tuesday-1230%e2%80%a6ugly-start-to-the-day/ The time frame for the Fed to start purchasing mbs is announced and will start in early January. On that new, mbs have skyrocketed higher regaining all of the loses from today and are currently up on the day. Float club is still in session. We are getting...(read more) More: ... http://www.justhomemortgages.com/2009/01/06/tuesday-1230breaking-news/ This morning jobless claims came in much better then expected. Economists where expecting 550k, but the number came in considerably better at 492k. The 4 week average fell as well to 552k, but continuing claims came in higher at 4.5 million. Normally...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/wednesday-1231%e2%80%a6jobless-claims-in/ I hope everyone had a wonder New Years Eve. I for one am glad to be putting 2008 in the rear view mirror, and I am excited and looking forward to 2009. Markets closed today but will be open for normal trading hours tomorrow. The only report we get tomorrow...(read ... http://www.justhomemortgages.com/2009/01/06/thursday-11happy-new-year/ Happy New Year!!!! The mortgage backed security market is open today for a normal trading day. So far this morning, mbs are up, recouping all of the loses from Wednesday. We do get the release of one piece of economic date, the ISM index. This report...(read more) More: continued here ... http://www.justhomemortgages.com/2009/01/06/friday-12%e2%80%a6it%e2%80%99s-2009/ The upcoming week is full with economic reports, with the biggest impacting reports coming on Friday. Monday - Construction Spending, economists expecting a -1.2% drop after last months -1.2%. Tuesday - Factory Orders, economists expecting a -2.6% drop...(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/monday-15%e2%80%a6the-week-ahead/ In breaking news, the Fed has started its MBS buying. Details of how much they are buying will be released weekly. Currently mbs are up 9 ticks on the day but off the highs of up 16 ticks. Construction spending came in at -.6% vs expectations of -1.2...(read more) More: ... http://www.justhomemortgages.com/2009/01/06/monday-15%e2%80%a6fed-has-started-to-buy/ We are getting the release of some economic data in an hour, so i will post back after that. Currently mortgage backed securities continue their trend higher and are up 8 ticks on the day. We should see better rate sheets this morning....(read more) More: continued here http://www.justhomemortgages.com/2009/01/06/tuesday-16mbs-open-higher/ We just got the release of all the economic data for the day. First we got the release of pending home sales which dropped 4% to 82.3 when economists where expecting 88.0. This is bad news for housing, but keep in mind not many people are buying or selling...(read more) More: ... http://www.justhomemortgages.com/2009/01/06/tuesday-16%e2%80%a6economic-data-is-in/ AFP - The Federal Reserve said Monday it began buying troubled mortgage securities through investment managers, kicking off a program expected to spend up to 500 billion dollars to ease a credit crisis. More: continued here http://www.justhomemortgages.com/2009/01/05/fed-starts-program-of-purchases-of-mortgage-securities-afp/ AP - The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. More: continued here http://www.justhomemortgages.com/2009/01/05/ny-fed-begins-purchasing-mortgage-securities-ap/ John A. Courson has been appointed president and CEO of the Mortgage Bankers Association, a press release said. The appointment was originally announced in July 2008. Courson replaces Jonathan L. Kempner. More: continued here http://www.justhomemortgages.com/2009/01/05/new-ceoat-mba/ Navy Federal Credit Union reported 2008 mortgage production of $5.7 billion. The level of lending was the second highest ever. During 2009, Navy has committed to $6.0 billion in originations. More: continued here http://www.justhomemortgages.com/2009/01/05/credit-union-originates-nearly-6-billion/ GMAC Financial Service sissued a statement indicating that it had completed separate private-exchange and cash-tender offers to purchase or exchange $17.5 billion in outstanding GMAC notes and $3.7 billion in notes of Residential Capital LLC. An agreement has been reached between PHH Mortgage Corp. parent PHH Corp. and lenders in ... http://www.justhomemortgages.com/2009/01/05/financing-for-the-financiers/ Mark R. Danahy was named president of PHH Mortgage, a press release said. He was also appointed chief executive officer of the unit. Danahy originally joined PHH  in 2000. More: continued here http://www.justhomemortgages.com/2009/01/05/new-phh-ceo/ The monthly Treasury average was down nearly one-quarter percent from November to December, according to data published by the Federal Reserve Board. MTA was down 270 basis points from December 2007. MTA has fallen each month since April 2007. More: continued here http://www.justhomemortgages.com/2009/01/05/mtadescends-deeper/ As promised, the New York Fed plans to begin buying U.S. mortgage and student debt effective immediately, in a move geared at thawing frozen credit markets in the country and restore confidence of the economy. "This program, first announced on November...(read more) More: continued here http://www.justhomemortgages.com/2009/01/05/new-york-fed-begins-mbs-purchase-program/ Construction spending in the United States continued to decline in November, falling by 0.6% month-over-month, according to the U.S. Department of Commerce. The consensus had forecast construction spending in November to decline by 1.4%. The total construction...(read more) More: continued here http://www.justhomemortgages.com/2009/01/05/construction-spending-continues-its-decline-in-november/ Some months ago we speculated that the sector of the economy to fall out of the sky would be retail real estate as the proliferation of shopping malls and small strip centers ran headlong into what at that time appeared to be a looming wave of retail...(read more) More: continued ... http://www.justhomemortgages.com/2009/01/05/office-vacancies-soaring-rents-falling-in-major-cities/ Rates dropped sharply in this week's survey, as the average rate on the 30-year fixed fell 20 basis points, to 5.64 percent. More: continued here http://www.justhomemortgages.com/2009/01/04/is-the-appraiser-a-blockhead/ Reuters - The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers & Co, which are putting up $1.3 billion in cash. More: continued here http://www.justhomemortgages.com/2009/01/03/private-equity-group-buying-indymac-assets-reuters/ AP - The balance of power between landlords and tenants will shift dramatically in 2009. More: continued here http://www.justhomemortgages.com/2009/01/03/commercial-real-estate-in-for-tough-2009-ap/ Will the wave of 1st time home buyers who are waiting on the sideline decide to get into their home as prices stabilize and interest rates drop? More: continued here http://www.justhomemortgages.com/2009/01/03/welcome-to-2009-who-will-be-buying-real-estate-this-year/ Bad news for the economy translates into great news for mortgage rates, which are at their lowest in years. When the economy is slow, rates are low. If you are looking to buy or refinance, the market is on your side.Read More More: continued here http://www.justhomemortgages.com/2009/01/03/new-year-great-mortgage-rates/ The benchmark 30-year fixed-rate mortgage fell 20 basis points, to 5.64 percent, according to the Bankrate.com national survey of large lenders. More: continued here http://www.justhomemortgages.com/2009/01/03/mortgage-rates-drop-way-down/ This map will help you determine what the FHA loan limit is for a single-family home in your county as of Jan. 1, 2009. More: continued here http://www.justhomemortgages.com/2009/01/03/find-the-home-loan-limit-for-your-county/ AP - House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, stoking market expectations that the Bank of England will cut borrowing costs further next week. More: continued here http://www.justhomemortgages.com/2009/01/02/british-house-prices-fell-at-record-rate-in-2008-ap/ Reuters - The Federal Deposit Insurance Corp, in a statement on its Website, says it signed a letter of intent to sell Indymac Federal bank operations to thrift holding company controlled by IMB Management Holdings LP. More: continued here http://www.justhomemortgages.com/2009/01/02/fdic-says-it-will-sell-indymac-reuters/ AP - The safety net is almost gone, the nest egg is cracking. More: continued here http://www.justhomemortgages.com/2009/01/02/plan-b-for-retirees-who-counted-on-home-equity-ap/ The cost of funds index increased around 3 basis points in November 2008 from October, an announcement from the Federal Home Loan Bank of San Francisco said. The increase in the index was lower than the 36 BPS jump the prior month. COFI, however, was around 102 BPS better than ... http://www.justhomemortgages.com/2009/01/02/rise-in-cofi-eases/ Wells Fargo & Co. completed the acquisition of Wachovia Corp., an announcement confirmed. The deal closed on Dec. 31, 2008. The deal was originally announced in October. More: continued here http://www.justhomemortgages.com/2009/01/02/ww-deal-done/ Issuances of agency mortgage-backed securities were $1.06 trillion last year, data from eMBS indicated. Activity increased from $0.98 trillion in 2007. Securitization volume was down at Fannie Mae and Freddie Mac but higher at Ginnie Mae. More: continued here http://www.justhomemortgages.com/2009/01/02/gov-biz-pushes-agency-issuance-higher/ The U.S. Treasury announced guidelines for dealing with financial institutions in need of rescue. The details are based on the Nov. 23 decision to loan $5 billion to Citigroup. The Treasury said eligibility for the program will be considered on a case...(read more) More: continued here http://www.justhomemortgages.com/2009/01/02/treasury-announces-guidelines-for-govt-rescue-of-financial-firms/ Investor's Business Daily - It was more than four years ago that John Stumpf, then chief operating officer of Wells Fargo , grew leery of the booming housing market. More: continued here http://www.justhomemortgages.com/2009/01/01/the-man-they-can-bank-on-investors-business-daily/ Investor's Business Daily - A housing market recovery could be just what's needed to resuscitate the recession-mired economy, many experts believe. More: continued here http://www.justhomemortgages.com/2009/01/01/who-is-going-to-buy-all-those-homes-investors-business-daily/ AP - Two mega acquisitions in the banking sector have been completed following the biggest financial crisis to hit the United States since the 1930s, capping a year in which Wall Street stocks were hammered, home foreclosure rates soared and job losses mounted. More: continued here http://www.justhomemortgages.com/2009/01/01/2-big-banking-sector-acquisitions-completed-ap/ An announcement The PNC Financial Services Group Inc. said the company completed its acquisition of National City Corp. The deal closed on the last day of 2008. The transaction was expected to cost PNC more than $5 billion in stock. More: continued here http://www.justhomemortgages.com/2009/01/01/pncacquisition-of-national-city-done/ Quicken Loans Mortgage News. Want to start off the New Year with some good news? (We thought so.) If your New Year’s resolution centers around buying a home, there are THREE big things going on that you should know about. The home buying stars have aligned, and they’re telling you ... http://www.justhomemortgages.com/2009/01/01/low-interest-rates-low-housing-prices-and-lower-down-payments-the-home-buying-stars-have-aligned/ Undaunted by the holiday season, consumers continued to apply for mortgages in record numbers last week, according to the latest Weekly Mortgage Applications Survey, released today by The Mortgage Bankers Association (MBA).Read More More: continued here http://www.justhomemortgages.com/2009/01/01/due-to-low-mortgage-interest-rates-homeowners-continue-to-apply-for-mortgages-in-record-numbers/ Dr. Don Taylor says getting your ducks in a row can help protect you from a refinancing rip-off. More: continued here http://www.justhomemortgages.com/2009/01/01/how-can-i-avoid-a-refinancing-rip-off/ Interest rates continued their slow but steady decent during the week ended December 31 according to results of the Primary Mortgage Market Survey released by Freddie Mac Wednesday morning. The 30-year fixed-rate mortgage (FRM) hit yet another historic...(read more) More: continued here http://www.justhomemortgages.com/2009/01/01/interest-rates-continue-downward-drift/ Mortgage applications were at their highest level in more than five years last week, as borrowers took advantage of attractive rates and rushed to refinance their home loans. More: continued here http://www.justhomemortgages.com/2008/12/31/mortgage-applications-at-5-year-highs/ AFP - The Federal Reserve said Tuesday it would begin buying mortgage-backed securities in early January under a previously announced plan to purchase up to 600 billion dollars of these assets. More: continued here http://www.justhomemortgages.com/2008/12/31/fed-to-ramp-up-purchases-of-mortgage-securities-in-january-afp/ AP - The Federal Reserve said Tuesday that it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the long-suffering housing market. More: continued here http://www.justhomemortgages.com/2008/12/31/fed-to-start-buying-mortgage-backed-securities-ap/ BusinessWeek Online - With all the doom and gloom over housing, you might be surprised to know that this is a fantastic time to get a mortgage. Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan these ... http://www.justhomemortgages.com/2008/12/31/mortgages-what-you-need-to-know-in-2009-businessweek-online/ AP - Mortgage applications remained at their highest level in more than five years last week, as borrowers took advantage of attractive rates and rushed to refinance their home loans. More: continued here http://www.justhomemortgages.com/2008/12/31/mortgage-applications-remain-at-5-year-highs-ap/ AP - A year that started poorly got worse for the nation's home improvement retailers, as the housing market meltdown pushed the economy toward recession and financial institutions sparked a global economic disaster. More: continued here http://www.justhomemortgages.com/2008/12/31/home-improvement-chains-weather-tough-storm-ap/ Reuters - U.S. weekly jobless claims plummeted last week but the improvement was probably a seasonal quirk rather than a turning point for the recession-ravaged labor market. More: continued here http://www.justhomemortgages.com/2008/12/31/jobless-claims-dive-while-mortgage-rates-ease-again-reuters/ Reuters - Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, according to a survey released on Wednesday by home funding company Freddie Mac. More: continued here http://www.justhomemortgages.com/2008/12/31/mortgage-rates-drop-to-37-year-low-reuters/ AP - Becoming a mortgage broker in Indiana used to be easy. Too easy. More: continued here http://www.justhomemortgages.com/2008/12/31/mortgage-crisis-spurs-tougher-rules-for-brokers-ap/ AP - Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring. More: continued here http://www.justhomemortgages.com/2008/12/31/mortgage-rates-fall-to-third-straight-record-low-ap/ Shore Mortgage is recruiting 100 new employees, a press release said. The hirings are planned over the next three months. The expansion is the result of substantial activity this year and anticipated 2009 activity. More: continued here http://www.justhomemortgages.com/2008/12/31/michigan-firm-hiring/ Fannie Mae's secondary purchases in November fell $5.6 billion from October, a monthly operational report said. Fannie's book of business ended last month $0.5 billion lower than October. Residential delinquency of at least 90 days as of Oct. 31 increased 17 basis points. More: continued here http://www.justhomemortgages.com/2008/12/31/fannie-activity-deteriorates/ The revised Home Valuation Code of Conduct fails to address appraiser fraud, an announcement from the National Association of Mortgage Brokers said. "This agreement amounts to a de facto regulatory action which avoids the appropriate process," NAMB's president said in the statement. The American Society of Appraisers is also unhappy ... http://www.justhomemortgages.com/2008/12/31/revised-appraisal-code-irks-brokers-appraisers/ The average 30-year fixed-rate mortgage fell 4 basis points from the prior week, Freddie Mac reported in its weekly rate survey. The 30-year sits at a 37-year low. The director of the Federal Housing Finance Agency said yesterday in a television interview that it is likely mortgage rates will fall ... http://www.justhomemortgages.com/2008/12/31/rates-could-fall-another-50-100-bps/ Mortgage insurance policies written during November were down nearly 13,000 from October, the Mortgage Insurance Companies of America announced. The dollar volume of business was down by more than one-quarter. Primary insurance defaults increased by nearly 3,000 from October. More: continued here http://www.justhomemortgages.com/2008/12/31/mi-business-bad/ If you've finally found your dream home, don't wait to buy, says the Real Estate Adviser. More: continued here http://www.justhomemortgages.com/2008/12/31/is-now-the-time-to-buy-real-estate/ Treasury Secretary Henry Paulson said the government has had to face the current financial crisis without all the means to do so effectively, the Financial Times reported on Tuesday. "We're dealing with something that is really historic and we...(read more) More: continued here http://www.justhomemortgages.com/2008/12/31/us-facing-crisis-without-all-necessary-tools-treasurys-paulson-says/ Weekly mortgage applications in the United States were flat in the week ending Dec. 26, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday. In the previous week, applications rose by 48.0%. The portion of fixed-rate...(read more) More: continued here http://www.justhomemortgages.com/2008/12/31/mba-mortgage-applications-flat-in-week-ending-dec-26/ The Standard & Poor's/Case-Shiller 20-city housing index released Tuesday fell by a record 18 percent from October last year, the largest drop since its inception in 2000. More: continued here http://www.justhomemortgages.com/2008/12/30/home-prices-tumble-record-18-percent/ AP - A federal agency is giving more than $28 million dollars to three Florida communities that have been slammed by high foreclosures and dropping home values. More: continued here http://www.justhomemortgages.com/2008/12/30/hud-approves-28-million-in-fla-foreclosure-help-ap/ AP - Chinese stocks fell for a seventh straight session on Tuesday, as banks and property developers led a broad decline in lackluster trading. More: continued here http://www.justhomemortgages.com/2008/12/30/chinese-shares-fall-in-slow-preholiday-trading-ap/ AP - More bad news for Britain's ailing housing market came out Tuesday, as government figures showed that house prices in England and Wales fell by 12.2 percent in November compared to the same month a year ago — the biggest drop since the price survey began in 2000. More: ... http://www.justhomemortgages.com/2008/12/30/uk-house-prices-fell-122-pct-year-on-year-in-nov-ap/ Reuters - Prices of U.S. single-family homes in October plunged a record 18.0 percent from a year earlier, according to the Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday that indicated a U.S. housing market in the throes of a deep recession. More: continued here http://www.justhomemortgages.com/2008/12/30/home-prices-plunge-record-18-percent-in-october-sp-reuters/ Reuters - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion. More: continued here http://www.justhomemortgages.com/2008/12/30/us-puts-up-6-billion-to-support-gmac-reuters/ Fannie Mae will now impose new loan-level pricing adjustments, according to a lender announcement. The adjustments apply to loans that are purchased on a flow basis with certain risk characteristics. The updated pricing applies to loans purchased on or after April 1, 2009. More: continued here http://www.justhomemortgages.com/2008/12/30/fannie-increases-fees/ An alliance between Wolters Kluwer Financial Services and MortgageDashboard enables MortgageDashboard users to generate standard and customized closing and initial disclosure documents, according to a press release. Avista Solutions announced the integration of its Avista Agile LOS with DocMagic. MortgageCreditLink has been integrated with OpenClose Solutions' LOS, a press release ... http://www.justhomemortgages.com/2008/12/30/the-los-digest/ GMAC LLC sold $5 billion in senior preferred equity to the U.S. Department of the Treasury under the Troubled Asset Relief Program, a Treasury announcement said. The deal included warrants equal to 5 percent of the preferred stock investment. As part of the investment agreement, GMAC must comply with executive ... http://www.justhomemortgages.com/2008/12/30/lifeline-extended-to-gmac/ Adecco USA is in the midst of a campaign to recruit mortgage production employees, a spokeswoman told MortgageDaily.com in a statement. Among the positions being filled are processors, underwriters and closers. While the exact number of positions being filled was not available, Adecco estimated it is currently filling "thousands" of ... http://www.justhomemortgages.com/2008/12/30/firm-hiring-thousands/ U.S. house prices in November are down 18.0% compared to a year ago, according to the S&P Case-Shiller U.S. home price index, with the 20-city composite index falling to a reading of 158.16. Economists had expected the index to post a year-over-year...(read more) More: continued here http://www.justhomemortgages.com/2008/12/30/case-shiller-home-price-index-declines-annualized-18-in-october/ Reuters - A consortium of private equity and hedge fund firms, including J.C. Flowers & Co, is close to a deal to buy the assets of failed mortgage lender IndyMac, a source familiar with the matter said on Sunday. More: continued here http://www.justhomemortgages.com/2008/12/29/jc-flowers-and-others-close-to-indymac-deal-source-reuters/ Reuters - Cynthia Goldrick's daughter is in and out of the hospital for brain surgery, her mother has Stage 4 lung cancer and her father has moved into a home for the elderly. More: continued here http://www.justhomemortgages.com/2008/12/29/how-one-familys-mortgage-is-linked-to-meltdown-reuters/ The Federal Housing Finance Agency reported that the Streamlined Modification Program launched earlier this month "is already making progress in preventing foreclosures." The chairman of the Federal Deposit Insurance Corporation recently said that loan modifications are absolutely necessary to end the housing crisis. Foreclosure Trackers Inc. recently issued a statement ... http://www.justhomemortgages.com/2008/12/29/the-loan-mod-ledger/ William H. Rogers Jr. was named president of SunTrust Banks Inc., a filing with the Securities and Exchange Commission said. Freddie Mac reported that Raymond G. Romano was named chief credit officer. Robert E. Cauley was appointed chairman of Bimini Capital Management Inc., an announcement said. More: continued here http://www.justhomemortgages.com/2008/12/29/institutional-musical-chairs/ Architect Andy Feola keeps running into Southern California colleagues in some of the world's most exotic locations — from the Egyptian desert to China to Azerbaijan. More: continued here http://www.justhomemortgages.com/2008/12/28/us-style-suburbs-are-hot-overseas/ Homebuilders slapped on solar panels and added other eco-friendly enhancements as energy prices soared earlier this year, hoping greener homes would lure reluctant buyers. More: continued here http://www.justhomemortgages.com/2008/12/28/green-building-stalls-amid-lower-prices/