Wednesday, September 02, 2009

Mortgage Bankers Association - "MBA Offers Proposed Framework for Government Role in Secondary Mortgage Market" (9-2-09)

The centerpiece of MBA’s recommendation is the creation of a new line of mortgage-backed securities (MBS). Each security would have two components – a loan level guarantee provided by a privately-owned, government-chartered and regulated mortgage credit-guarantor entity (MCGE) and a security-level, federal government-guaranteed wrap."

Mortgage Bankers Association - "
Mortgage Applications Decrease in Latest MBA Weekly Survey" (9-2-09)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 28, 2009. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.1 percent compared with the previous week and increased 22.7 percent compared with the same week one year earlier."

Los Angeles Times - "
Fire grows to 140,000 acres, but officials report progress. Mt. Wilson danger lessens" (9-2-09)

"The biggest concern now is the eastern flank of the fire, which is moving in the mountains north of Altadena and Pasadena. Evacuation orders were lifted in La Crescenta, La CaƱada Flintridge and other foothill communities. The fire is still 22% contained and 10,000 homes remain threatened."

Inman - "Consumers can 'Ask a Realtor'" (9-2-09)

"A new 'Ask a Realtor' service from allows site visitors to submit questions about buying or selling a home, mortgage issues and local market trends, and receive a response from a Realtor by e-mail."

Bloomberg - "Fed Weighed Tapering MBS Purchases at August Meeting" (9-2-09)

Federal Reserve officials in their August meeting discussed tapering purchases of mortgage bonds to minimize any disruptions at the end of their program, and expressed concern about the pace of a likely economic recovery."

Orange County Register - "Pacific homes enjoy hottest spring" (9-2-09)

"Freddie Mac’s fresh take on home pricing trends shows that Pacific states — including California — had the strongest spring among the nine slices of the nation tracked."
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