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HUD CHARGES WISCONSIN PROPERTY MANAGERS WITH DISCRIMINATING

The U.S. Department of Housing and Urban Development (HUD) today announced that it has charged Sharlene and Jerald Kuiper, managers of a three-bedroom duplex apartment in Outagamie County, Wisconsin, and the owner of the apartment, Kuiper Family Trust, with violating the Fair Housing Act by refusing to show an available apartment to a family with children.
Read More... Wednesday, October 27, 2010

Weak Second-Half Growth Expected to Carry into 2011, According to Fannie Mae's Economics & Mortgage Market Analysis Group.

HUD APPROVES $63 MILLION FINANCING PLAN TO FUND MAJOR ADDITION TO HOSPITAL

The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to Wheeling Hospital in Wheeling, West Virginia.
Read More... Tuesday, October 05, 2010

Fannie Mae Offering New Issue 2-Year Benchmark Notes

Barclays Capital Inc., J.P. Morgan & Co. and UBS Securities LLC are the joint lead managers.
2-Year Benchmark Notes due October 30, 2012

HUD CHARGES LANDLORD WITH DISCRIMINATING AGAINST A TENANT WITH DISABILITIES

The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging Heatherwood-Norwich Gate LLC, the owner and manager of an apartment complex in East Norwich, New York, with violating the Fair Housing Act for allegedly denying a resident with disabilities an accessible parking space he requested.
Read More... Monday, October 04, 2010

Freddie Mac Statement on Foreclosure Processing Issues

The following statement was issued today by Bruce Witherell, Chief Operating Officer for Freddie Mac. "Freddie Mac is deeply concerned about recent reports that there may be affidavits that were improperly executed in connection with foreclosures.

Fannie Mae Renames Division to Multifamily Mortgage Business

Fannie Mae (FNMA/OTC) announced that its Housing and Community Development (HCD) division will now be called Multifamily Mortgage Business (MMB) or Multifamily.

Fannie Mae Releases August 2010 Monthly Summary

Fannie Mae's (FNMA/OTC) August 2010 Monthly Summary is now available at www.fanniemae.com/ir/monthly.

HUD ANNOUNCES MORE THAN $5.1 MILLION FOR HOUSING COUNSELING TRAINING
WASHINGTON As part of the Obama Administrations continuing effort to provide quality housing counseling to the nations homeowners, buyers and renters; the U.S. Department of Housing and Urban Development today announced the availability of more than $5.1 million in grants for housing counseling training.
Read More... Tuesday, September 28, 2010

Fannie Mae Announces Support for Military Homeowners
Surviving Spouses and Wounded Warriors Eligible for Special Forbearance
At an event yesterday at the Pentagon, Fannie Mae and the U.S. Army announced new initiatives to help service members who are struggling with their mortgage payments avoid foreclosure.

Fixed-Rate Mortgages Unchanged While ARMs Are Mixed

Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS). The 30-year fixed-rate mortgage rate and the 15-year fixed-rate were unchanged; shorter-term rates were mixed.

Fannie Announces New Incentives for HomePath Properties

Up to 3.5 Percent Seller Assistance; Selling Agent Receives $1,500 Bonus.
Fannie Mae announced a seller assistance incentive on Fannie Mae-owned properties listed on the company's REO website, www.HomePath.com, and expands the initiative to offer an incentive to real estate agents and brokers.

Fed Announces Agenda for September 24 Public Hearing on Home Mortgage Disclosure

The Federal Reserve Board on Thursday announced the agenda and panelists for the last of four public hearings this year on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
Read More... Wednesday, September 22, 2010

HUD HECM Products Benefit Seniors by Maximizing Equity Access

Jeff Lewis, Chairman of The Coalition for Independent Seniors issued the following statement in response to the September 21 U.S. Department of Housing and Urban Development announcement regarding new Home Equity Conversion Mortgage (HECM) Program products:

Mortgage applications declined yet again last week for a third consecutive time, caused by a decrease in purchase and refinancing.

Real Estate Agent in Mortgage Fraud Conspiracy Sentenced

Jorge Cidar Mendez Chavez, 42, of Ashburn, Va., was sentenced today to 27 months in prison, followed by three years of supervised release, for conspiracy to commit bank fraud.
Read More... Tuesday, September 21, 2010

Florida Architect Gets 5 years For $9 Million Fraud

U.S. Attorney A. Brian Albritton announced that Robert Policastro has been sentenced to 5 years in federal prison for conspiracy to commit mortgage fraud.

GMAC Mortgage Statement on Speculation Related to Foreclosure Moratorium

Recent reports have stated that GMAC Mortgage instituted a moratorium on all residential foreclosures in 23 states. This is not true.

Fannie Mae Marks First Year of First Look Initiative

Fannie Mae announced that more than 29,000 owner occupants have purchased homes in neighborhoods across the country through its First Look initiative over the last year.

HUD ALLOCATES $50 MILLION IN DISASTER RECOVERY GRANTS TO THREE STATES

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today allocated $50 million in disaster funding slated for Kentucky, Rhode Island, and Tennessee.

Hey My Name Is Jerry!
Property values increase in a strong job market

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