The Department of Housing and Urban Development released a new website that provides a detailed look at economic and housing data at a regional, state, metro and county level. Using data from the Census Bureau, Labor Department, State and Local governments, housing industry sources, as well as HUD’s own field economists, the new website employs [...]

Ginnie Mae announced it guaranteed more than $35.5 billion in mortgage-backed securities (MBS) in October. “Our October issuance numbers underscore Ginnie Mae’s influence in the housing market,” said Ginnie Mae President Ted Tozer. “Our conservative approach to our business operations allows Ginnie Mae to inject much needed liquidity into the marketplace, while successfully protecting taxpayer and [...]

Existing home sales declined 2.2 percent to a seasonally adjusted annual rate of 4.43 million in October from 4.53 million in September according to data from the National Association of Realtors. Year-to-date there were 4.149 million existing-home sales, down 2.9 percent from 4.272 million at this time in 2009. “The housing market is experiencing an uneven [...]

The Mortgage Bankers Association is requesting the Treasury and the Department of Housing and Urban Development authorize use of the Innovation Fund for Hardest Hit Housing Markets program (Hardest Hit Fund) and the Emergency Homeowners Loan Program (EHLP) to cure tax and insurance delinquencies associated with reverse mortgages. According to a report published earlier this [...]

The Department of Housing and Urban Development published Mortgagee Letter 2010-39 to introduce a revised HUD-1, settlement statement (HUD-1), closing certification on Tuesday. According to HUD, the certification language has been changed to include new statutory authority to impose penalties for false certifications or fraudulent activities and new language for sellers of a HECM for [...]

USA Today reports that on December 1st, the first of 77 million Baby Boomers starts to turn 65 and therefore, becomes eligible for Medicare.  Once it starts, every 8 seconds one baby boomer will be turning 65… talk about increasing the pressure on Medicare. Raised in affluent times and imbued with high expectations, the first [...]