Mortgage Bankers Association - "Mortgage Applications Increase Slightly In Latest MBA Weekly Survey" (8-27-08)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 22, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 421.6, an increase of 0.5 percent on a seasonally adjusted basis from 419.3 one week earlier. On an unadjusted basis, the Index decreased 0.9 percent compared with the previous week and was down 31.2 percent compared with the same week one year earlier."

Inman News - "Fannie, Freddie shun N.Y. subprime loans" (8-27-08)

"Housing advocates say mortgage financers Fannie Mae and Freddie Mac are overreacting to a New York law the companies say creates new legal liabilities for investors who buy subprime loans. The mortgage giants say that beginning Sept. 1, they will no longer purchase or securitize loans defined as subprime by a New York law that creates new consumer protections."

The San Diego Union Tribune - "Housing downturn could be letting up" (8-27-08)

"A key housing-price index released yesterday offered a glimmer of hope that the downward spiral might be slowing in some places, but San Diego and other once-high-flying cities have yet to see any return to stability. The Standard & Poor's/Case-Shiller Home Price Index showed prices of single-family resale homes in 20 cities had dropped 0.5 percent from May to June, compared with a 0.9 percent decline from April to May. It was the smallest month-over-month decline in a year."

Reuters - "FDIC may borrow money from Treasury: report" (8-27-08)

"Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said."

Bloomberg - "Fannie Rises as Merrill Calls Bailout Talk Premature" (8-27-08)

"Fannie sold $1 billion each of three-month and six-month notes today and Freddie raised $1 billion, offering buyers extra yields relative to benchmark rates that while wider than before, remained lower than a year ago. Investors have been watching the debt sales for any 'tell-tale' signs that Washington-based Fannie and McLean, Virginia-based Freddie can't fund themselves, UBS AG analysts in New York including William O'Donnell wrote in a report."

Bloomberg - "Moody's Reviewing All 2006, 2007 Jumbo Mortgage Bonds" (8-27-08)

"Moody's Investors Service is stepping up scrutiny of all prime-jumbo mortgage securities issued in 2006 and 2007 as the surge in U.S. foreclosures spreads beyond subprime loans. Moody's is studying its rankings on the securities after late payments started increasing more quickly in recent months, according to a statement today from the New York-based ratings company. The bonds aren't all under formal reviews for downgrades, said Thomas Lemmon, a spokesman."

Orange County Register - "Pimco to up bet on distressed debt" (8-27-08)

"Bloomberg reports Newport Beach-based Pacific Investment Management Co., the biggest manager of bond funds, is seeking as much as $5 billion to buy mortgage-backed debt that has plunged in value since the mortgage meltdown began last year."

Realty Times - "HOA Move-In & Out Policy" (8-27-08)

"Americans are a highly mobile society. Considering the amount of personal goods and furniture that many are blessed with, moving a household from one place to another efficiently takes both time and planning. When it comes to homeowner association moves, especially mid and high rise buildings, the logistics often involve coordinating with management, neighbors and others to minimize disruption. Here is a sample policy which can be adapted to your use"

The Wall Street Journal - "FHA Raises Its Premiums to Insure Repayment of Mortgages" (8-27-08)

"In a posting on its Web site Tuesday, the FHA said the upfront premiums charged to most borrowers will be 1.75% of the loan amount, effective Oct. 1. That is up from the 1.5% that was in effect until July 14, when the FHA adopted a "risk-based" pricing system that created a range of charges depending on borrowers' credit scores and the amount of the down payment or equity they owned in the homes. In late July, Congress approved a housing bill that included a provision requiring the FHA to revert to a standard premium at least until Oct. 1, 2009."