Unemployment claims on the rise, new ULDD requirements coming, Fannie looks to have the SEC suit dismissed, and more in today's industry news round-up!
Watchdog blasts housing program for 'hardest hit' l CNN Money - Real Estate
A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday.
Initial Unemployment Claims Jump To 10-Week High l DSNews.com
First time claims for unemployment insurance jumped 13,000 to 380,000 for the week ended April 7, the Labor Department reported Thursday, the highest level since the end of January.
New ULDD Requirements Coming This Month l Appraisal Institute
The Federal Housing Finance Agency said it's finalizing its standardized loan data reporting requirements for newly originated Fannie Mae and Freddie Mac mortgages, National Mortgage News reported April 4. Beginning April 23, lenders will have the option of submitting new Uniform Loan Delivery Dataset files to Fannie and Freddie; the new format will become m...
FICO: Lenders Optimistic on Borrowing, Delinquencies l Appraisal Institute
Bankers increasingly believe that consumer delinquencies will decrease and lending will increase over the next six months, according to a survey released April 3 that was conducted for FICO by the Professional Risk Managers’ International Association.
Fannie Officials Want SEC Lawsuit Dismissed l Appraisal Institute
Three Fannie Mae officials sued by the U.S. Securities and Exchange Commission for allegedly hiding risky loans that did not meet criteria for subprime or Alt-A loans have asked a judge to dismiss the suits, HousingWire reported April 3.
Freddie: Mortgage Rates Still Below 4 Percent l Appraisal Institute
Mortgage rates changed little from the previous week amid mixed economic signals, with most mortgage rates dipping slightly, Freddie Mac reported April 5 in its weekly Primary Mortgage Market Survey.
Treasury Department Faulted in Effort to Relieve Homeowners l The New York Times - Business
A report by the special inspector general for the Troubled Asset Relief Program said the Hardest Hit Fund has not reached many homeowners in need of aid.
IG Report Blames Treasury for Failure of Tarp Housing Program l American Banker
A report from the Special Inspector General for Tarp said Treasury didn't do enough to facilitate participation in the Hardest Hit Fund, which has distributed just 3% of the funds available to struggling borrowers in the two years since it was created.