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Treasury to Begin Orderly Wind Down of Its $142 Billion Mortgage-Backed Securities Portfolio

WASHINGTON, DC March 21, 2011 - (RealEstateRama) -- Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Starting this month, Treasury plans to sell up to $10 billion in agency-guaranteed MBS per month, subject to market conditions

Money-Making Scam Owner Will Pay Almost $1 Million and Sell House and Personal Property...

WASHINGTON, D.C. - March 18, 2011 - (RealEstateRama) -- The operator of a defunct money-making scam has agreed to settle a federal court judgment the Federal Trade Commission obtained against him in 2007 for falsely claiming his “wealth building” program would teach consumers how to make substantial income in a short time by buying and selling privately held mortgages. Under the settlement, John Stefanchik will pay the FTC $900,000 plus the proceeds from the sale of his house and substantially all of his personal property.

Attorney General Biden, Lawmakers Unveil Bipartisan Response to Foreclosure Crisis

Dover, DE - March 17, 2011 - (RealEstateRama) -- Attorney General Beau Biden and bipartisan coalition of legislators unveiled five bills today to respond to the home foreclosure crisis in Delaware and help the economy grow . Recent years have seen a re...

30-Year Fixed-Rate Mortgage Drops Amid Japan Crisis

McLean, VA - March 17, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey®> (PMMS®), which shows the 30-year fixed-rate dropping to 4.76 percent while the 15-year fixed-rate hit its lowest rate at 3.97 percent since December 2010.

Commercial/Multifamily Mortgage Debt Outstanding Fell by $67 billion, 2.7 Percent in 2010, Driven by...

Washington, DC - March 17, 2011 - (RealEstateRama) -- The level of commercial/multifamily mortgage debt outstanding decreased by 0.5 percent in the fourth quarter of 2010, to $2.4 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2010 was $67 billion lower than at the end of 2009, a decline of 2.7 percent.

Former Colonial Bank Mortgage Lending Supervisor Pleads Guilty to Fraud Scheme

WASHINGTON, DC - March 16, 2011 - (RealEstateRama) -- Teresa Kelly, a former operations supervisor in Colonial Bank’s Mortgage Warehouse Lending Division (MWLD), pleaded guilty today to conspiring to commit bank, wire and securities fraud for her role in a fraud scheme that contributed to the failures of Colonial Bank and Taylor, Bean & Whitaker (TBW).

Mortgage Purchase Applications Decrease in Latest MBA Weekly Survey

WASHINGTON, D.C. - March 16, 2011 - (RealEstateRama) -- Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 11, 2011

MBA Announces Courson to Leave, David H. Stevens to Join MBA in Early May

WASHINGTON, D.C. - March 16, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today announced that John A. Courson, the association’s President and CEO, will be leaving the association, effective June 1, 2011. Courson will be replaced by David H. Stevens, Assistant Secretary for Housing and Commissioner of the Federal Housing Administration at the U.S. Department of Housing and Urban Development in May. Stevens had announced earlier that he would be resigning from his position at HUD. He will leave HUD on March 31, 2011.

Tax Time Can Mean Big Savings for Homeowners

WASHINGTON, D.C. - March 15, 2011 - (RealEstateRama) -- As the April 18 federal income tax filing deadline approaches, many American home owners are realizing the financial benefits of homeownership—savings that can add up to tens of thousands of dollars over several years."The mortgage interest deduction is one homeownership tax incentive that has been part of the tax code for nearly 100 years," said Bob Nielsen, chairman of the National Association of Home Builders and a home builder from Reno, Nev. "Incentives such as this have helped millions of American families be able to afford a home of their own."

AG Probe Highlights Mortgage Servicers’ Illegal and Negligent Practices

WASHINGTON, D.C. - March 11, 2011 - (RealEstateRama) -- Responding to widespread evidence of improper accounting, unwarranted fees, false documentation, and arbitrary foreclosure decisions, the 50 state Attorneys General are crafting a long-overdue plan to hold the mortgage servicing industry accountable. The plan would address accusations that banks and servicers have engaged in illegal and negligent servicing practices that have been a continued drag on the U.S. housing market and economy.

HOPE NOW: Mortgage Servicers Completed 101,000 Loan Mods for Homeowners in January

WASHINGTON, DC - March 11, 2011 - (RealEstateRama) -- HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, released its January 2011 loan modification data, which shows that an estimated 101,000 homeowners received permanent, affordable loan modifications from mortgage servicers in the first month of the year.

Republicans Push to End Failed Mortgage Program

WASHINGTON, D.C. - March 10, 2011 - (RealEstateRama) -- Today, U.S. Senators Jim DeMint (R-South Carolina) and Bob Corker (R-Tennessee), both members of the Senate Banking Committee, and Tom Coburn, M.D. (R-Oklahoma), a member of the Senate Finance Committee, introduced legislation to end the Housing Affordable Modification Program (HAMP).

Bankrate: Mortgage Rates Stabilize

NEW YORK, N.Y. - March 10, 2011 - (RealEstateRama) -- Mortgage rates showed little change this week, with the benchmark conforming 30-year fixed mortgage rate now 5.04 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

30-Year Fixed-Rate Mortgage Holds Steady at 4.88%

McLean, VA - March 10, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates holding steady and below 5.0 percent.

ABA SUBSIDIARY’S MORTGAGE PROGRAMS SAVE MEMBERS $27 MILLION

WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- Business Solutions, an American Bankers Association subsidiary, today announced that its Mortgage Solutions programs saved bankers over $27 million in 2010. The programs, designed to help community banks participate more successfully in the residential mortgage markets, were launched in 2001. Since that time, the banks have produced more than $160 billion in loans through the programs. In 2010, more than 1,000 ABA member banks elected to be a part of one or more of the 12 programs available through Mortgage Solutions.

Mortgage Applications Increase in Latest MBA Weekly Survey

WASHINGTON, D.C. - March 9, 2011 - (RealEstateRama) -- Mortgage applications increased 15.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 4, 2011.

Register Today for MBA’s 2011 National Fraud Issues Conference

WASHINGTON, D.C. - March 8, 2011 - (RealEstateRama) -- Efforts to combat mortgage fraud against lenders have proliferated into a number of initiatives including state and federal legislation criminalizing mortgage fraud and increased synergy between law enforcement and lenders. Hear from industry experts as they review the current status of the industry, law enforcement and government’s efforts in combating mortgage fraud.

Merkley Joins Effort to Protect Servicemembers From Falling Victim to Mortgage Abuses

PORTLAND, OR - March 7, 2011 - (RealEstateRama) -- Oregon’s Senator Jeff Merkley joined Senator Sheldon Whitehouse (D-RI) in an effort to strengthen mortgage protections for servicemembers once they return home from duty.

William Raveis Named Marketing Agent for Cranberry Hill Estates

SHELTON, CT - March 7, 2011 - (RealEstateRama) -- The New Homes Division of William Raveis Real Estate, Mortgage & Insurance has been selected as marketing and sales agent for Cranberry Hill Estates, Shelton’s newest family community

FTC Charges Mortgage Relief Operation with Deceiving Distressed Homeowners

WASHINGTON, D.C. - March 7, 2011 - (RealEstateRama) -- As part of the Federal Trade Commission’s continuing crackdown on scams that target homeowners behind in their mortgage payments or facing foreclosure, the FTC has charged a national operation with marketing bogus loan modification services. The FTC seeks to stop the illegal practices and make the defendants pay refunds to consumers

Business Real Estate Press Releases

FEMA

FEMA Offers Free Rebuilding Tips at Local Home Improvement Stores

Disaster survivors affected by the severe storms and floods from Tropical Storm Imelda, can visit local home improvement stores in Houston, Pasadena and Webster for rebuilding tips from mitigation experts.

Recent Gov & Nonprofit Real Estate Press Releases

How One Texas Realtor Mentoring Program Can Help You Build Your...

It's the best of times and it's the worst of times. For established real estate agents the market has never been better. Its been more than a decade since the housing crisis and for long-time agents with established connections in the market, it seems like business finds them.