Archive for the ‘Vice President’ tag
New 2008 Highs for Mortgage Rates
Fixed-rate mortgages (FRMs) hit the highest levels of
2008 during the week ended July 24 according to Freddie Mac’s
Primary Mortgage Market Survey.
“Market concerns about rising inflation and the greater probability
that the Federal Reserve (Fed) will raise short-term rates this year all
combined to push mortgage rates higher this week,” said Frank
Nothaft, Freddie Mac vice president and chief economist…
MICA Reports Continued Problems for U.S. Homeowners
Nearly 68,000 American homeowners with mortgage
insurance fell more than 60 days behind on their loans in May,
outnumbering the 40,687 people who cured their situation in the month,
according to a release from the Mortgage Insurance Companies of America
(MICA) on Monday.
This is the 26th month in a row that delinquent homeowners have
outnumbered cures.
“What we’re seeing in the mortgage market is a continuation of the
return to realistic and responsible lending standards
and privately insured loans are part of that equation,” said Suzanne C.
Hutchinson, executive vice-president of MICA.
NAHB Green Building Legislation Offers Incentives to Lenders
Jerry Howard, NAHB executive vice president and CEO testified before a
House Financial Services Committee hearing on H.R. 6078,
the Green Resources for Energy Efficient Neighborhood Act (or the
GREEN Act) of 2008.
The GREEN Act, sponsored by Rep. Ed Perlmutter, (D-CO) provides
incentives to lenders to provide lower interest loans
and other benefits to consumers who build, buy, or remodel their homes or
businesses to improve energy efficiency.
In addition the law would require Fannie Mae and Freddie Mac to
finance energy efficient and location efficient mortgages such as…