NAR - "Pending Home Sales Up for Three Months in a Row" (6-2-09)

"The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5."

Mortgage Bankers Association - "MBA Study: Commercial and Multifamily Mortgage Delinquency Rates Continued to Rise in the First Quarter" (6-2-09)

"Between the fourth quarter of 2008 and first quarter of 2009, the 30+ day delinquency rate on loans held in commercial mortgage-backed securities (CMBS) rose 0.68 percentage points to 1.85 percent. The 60+ day delinquency rate on loans held in life insurance company portfolios rose 0.05 percentage points to 0.12 percent. The 60+ day delinquency rate on multifamily loans held or insured by Fannie Mae rose 0.04 percentage points to 0.34 percent. The 90+ day delinquency rate on multifamily loans held or insured by Freddie Mac rose 0.08 percentage points to 0.09 percent. (Note that in June 2008, Freddie Mac began reporting multifamily delinquencies as those loans 90+ days delinquent. Prior to that time the reported numbers are for loans 60+ days delinquent). The 90+day delinquency rate on loans held by FDIC-insured banks and thrifts rose 0.66 percentage points to 2.28 percent."

Bloomberg - "Cox Questioned Fannie, Freddie Oversight While at SEC" (6-2-09)

"The letter from Cox, which hasn’t been made public, underscores the tension between Fannie Mae and Freddie Mac’s responsibilities to investors and government demands that they help end the worst housing crisis since the Great Depression. The issues facing the companies, saddled with seven consecutive quarters of losses totaling $150 billion, will be examined by a House panel tomorrow."

Bloomberg - "Morgan Stanley, JPMorgan, American Express Sell $7.7 Billion" (6-2-09)

"Morgan Stanley, JPMorgan Chase & Co. and American Express Co. raised at least $7.7 billion after the Federal Reserve imposed additional capital requirements on firms seeking to repay U.S. rescue funds. Morgan Stanley, the sixth-largest U.S. bank by assets, sold $2.2 billion of common stock, the New York-based company said today in a statement. JPMorgan, the second-largest U.S. bank, sold $5 billion, and American Express, the top U.S. credit-card company, sold $500 million."

Bloomberg - "Bank of America Will ‘Comfortably’ Beat Capital Goal" (6-2-09)

"Bank of America Corp., the biggest U.S. lender, has raised almost all of the $33.9 billion demanded by regulators after last month’s stress tests and now expects to 'comfortably exceed' that number."

Orange County Register - "State accuses Surf City rental firm of fraud" (6-2-09)

"The California Department of Real Estate formally accused the owner of a Huntington Beach rental listing service of fraud, an action that could lead to the suspension or revocation of the business’ license."

Orange County Register - "FTC may prohibit advance fees for loan-modification help" (6-2-09)

"The Federal Trade Commission is seeking public comments on how it should address foreclosure and loan modification scams and whether it needs to engage in further rule making with regard to unfair and deceptive mortgage lending and servicing practices. FTC has taken legal actions to stop several foreclosure rescue scams where consumers have paid fees up-front for bonus services."

Inman - "Cyberhomes looks to the future for salvation" (6-2-09)

"Like it or not, Cyberhomes just really hasn't caught on like some of its other contemporaries. art of the problem may be the disjointed approach it has taken to its product over the years. Cyberhomes has had more home page redesigns than any other site I know, but it may also just be that it has never really found a good niche to corner. Property valuations: Zillow's got them licked. Likewise Trulia with search experience, Realtor.com with depth of listings. And FrontDoor's got them beat editorially."