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 the second quarter than in the first quarter. This decline was less steep than the […]SHARETHIS.addEntry({ title: “House Price Declining Values Slows In Senond Quarter”, url: “http://www.consumermortgagereports.com/house-price-declining-values-slows-in-senond-quarter/” });

Posted in , Adj, Credit, HPI, Home Sales, House Price Index (HPI), Mortgage News, OFHEO, Purchase, RSS, adjusted basis, house price, inflation, lockhart, price appreciation, price declines, value Comments Off

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 remain on review for possible further downgrade. Moody’s said the downgrades of the financial strength […]SHARETHIS.addEntry({ title: “Government Sponsored Enterprise Ratings Downgraded”, url: “http://www.consumermortgagereports.com/government-sponsored-enterprises-ratings-downgraded/” });

Posted in , Fannie Mae, Freddie Mac, GSE, Government Sponsored Enterprise (GSE), Lenders With Problems 2008, Mortgage News, RSS, government sponsored enterprises, mortgage Comments Off

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 further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction, […]

Posted in , Ben Bernanke, Credit, FOMC, Federal Open Market Committee, Federal Open Market Committee - FOMC, Federal Reserve, Monetary Policy, Mortgage News, RSS, Todays Economy, expectation, fed, inflation Comments Off

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 massive housing bill are getting serious, with the House of Representatives scheduled to vote on […]

Posted in , Conforming Loan Limit, FHA, Fannie Mae, Freddie Mac, GSE, Government Sponsored Enterprise (GSE), Mortgage News, RSS, committee chairman, fannie mae and freddie mac, fed, moratorium, mortgage, senate Comments Off

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 […]

Posted in , Ben Bernanke, CIT, Congress, Discount Rate, Economy, Fed Funds, Federal Reserve, Interest Rates, Monetary Policy, Mortgage Interest Deductability, Mortgage News, RSS, expectation, fed, inflation, mortgage, mortgage market Comments Off

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 banking organizations meet certain qualification requirements in the advanced approaches rule, which took effect April […]

Posted in , FDIC Federal Deposit Insurance Corporation, Federal Reserve, Mortgage News, RSS, fed, federal deposit insurance, federal reserve board, mortgage Comments Off

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 practices. The final rule also establishes advertising standards and requires certain mortgage disclosures to […]

Posted in , Ben Bernanke, Credit Standards, Federal Reserve, Freddie Mac, Mortgage Industry Press Release, Mortgage News, RSS, deceptive acts, federal reserve board, federal reserve chairman, federal reserve chairman ben bernanke, hoepa, home mortgage loans, home ownership and equity protection act, mortgage disclosures, mortgage lending, mortgage market, principal dwelling, repayment ability, truth in lending Comments Off

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 50% of uninsured deposits and fully insure all up to $100,000, which is normal.

John […]

Posted in IndyMac Federal Bank, John Bovenzi, Lenders With Problems 2008, Mortgage Bubble, Mortgage Implosion, Mortgage Layoffs, Mortgage News, Mortgage Video, RSS, bovenzi, cover, deposits, fdic, government support, indymac, indymac bancorp, indymac bank, lips, regulators, schumers, uninsured Comments Off

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.

Posted in IndyMac Federal Bank, Lenders With Problems 2008, Mortgage Layoffs, Mortgage News, Mortgage Video, RSS, bancorp, deposit, fdic, federal deposit insurance, federal deposit insurance company, indymac, indymac bancorp, indymac bancorp inc, monday, monday morning, morning, officials, reopen, usual Comments Off

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 to get a mortgage, it is more difficult to get credit cards, homes are depreciating […]

Posted in , IndyMac Federal Bank, Lenders With Problems 2008, Mortgage Editorial, RSS, big mouth, charles schumer, committee chairman, indymac, joint economic committee, senate banking committee Comments Off