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FHA Enforces Fine Print as Its Volume Swells

July 2, 2009 – Home lenders are finding that when you write mortgages for the Federal Housing Administration, the devil is in the details.

Surprising Surge in Home Equity Loans

July 2, 2009 – Data suggests that many banks binged on home equity loans last year and began tightening standards only in the second half — after housing prices had already staged a dramatic retreat.

Harp Loan-to-Value Maximum Raised

July 2, 2009 – The Obama administration announced Wednesday an increase in the maximum loan-to-value ratio for mortgages under its Home Affordable Refinance Program by 20 percentage points, to 125%.

Mortgage Rates Ease in Latest Freddie Mac Survey

July 2, 2009 – Freddie Mac reported today that 30-year fixed mortgage rates averaged 5.32% with an average 0.7 point for the week ending July 2.

Hard Times Ahead for U.K. Credit Card Deals

July 2, 2009 – Increases in U.K. credit card delinquencies and charge-offs in May drove to new heights the Fitch Ratings indices tracking these performance variables.

FDIC, Advanta Reach Settlement

July 2, 2009 – The FDIC has settled with Advanta Bank Corp. regarding the latter’s alleged deceptive and unfair practices that are in violation of section 5 of the Federal Trade Commission Act.

Fannie Mae/Freddie Mac Get OK on 125% LTV

July 2, 2009 – Fannie Mae and Freddie Mac have received the green light from their regulator to refinance underwater homeowners with loan-to-value ratios as high as 125%.

Ford and Harley Davidson in the Market with TALF Deals

July 2, 2009 – Ford Motor Credit Co. and Harley Davidson are in the market with Term ABS Loan Facility (TALF)-eligible deals.

New Liquidity Risk Guidance

July 1, 2009 – Federal regulators proposed new guidance Tuesday that would call on financial institutions to more closely monitor their liquidity risk.

Commercial Property Could Become Operating Albatross

July 1, 2009 – Growing weakness in commercial real estate is poised to transform banking companies into accidental landlords — with a new set of headaches.

Regulatory Report Cites Better Mods But Finds Issues

July 1, 2009 – A regulatory report on the pace of mortgage modifications was a decidedly mixed bag, showing that although servicers have increased the number of sustainable modifications, serious delinquencies among prime borrowers continue to rise.

HOPE NOW Reports May Increase in Homeowners Remaining in Homes

July 1, 2009 – In May, mortgage lenders helped 249,000 homeowners complete workout solutions to help these borrowers stay in their homes, according to HOPE NOW.

U.K. Nonconfroming RMBS Hold Up Well

July 1, 2009 – Even in a severe stress scenario, U.K. nonconforming RMBS should not suffer losses nearly as severe as investors feared.

Luzerne County to Explore TALF

July 1, 2009 – The Luzerne County Retirement System will invest a portion of its portfolio with Term Asset-Backed Loan Facility (TALF) managers, said investment consultant Richard Hazzouri of Morgan Stanley Smith Barney. The board has agreed to place $10 million in the strategy to be split evenly between two separate managers: Ryan Labs Asset Management and Boyd Watterson Asset Management. …

Credit Card ABS Remain Resilient Amid Stress

July 1, 2009 – Credit card ABS excess spread has fallen to levels not seen in ten years, according to the latest Credit Card Indexes report from Fitch Ratings. The rating agency added that U.S. consumers are still falling behind and defaulting on their credit cards.

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