Home Loan Focus

G8 energy leaders urge stable oil prices

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Source: G8 energy leaders urge stable oil prices

Obama signs credit card crackdown

President Obama signed a bill on Friday that makes it tougher for credit card issuers to raise fees and interest rates.

Source: Obama signs credit card crackdown

Fed’s Kohn: Rates likely to remain near zero

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Source: Fed’s Kohn: Rates likely to remain near zero

Home Builder Confidence - Another Sign of the Bottom?

Home builder confidence is up for the second straight month and those in the building industry are more than willing to say that indicates the bottoming out of the ailing housing market.

“The bottom line is there are good signs on the horizon,” said Jerry Howard, president and chief executive of the National Association of Home Builders. “It’s fair to say we could be closing in on the bottom, but we have a long road ahead of us.”

NAHB Chief Economist David Crowe seemed even more upbeat.

“The fact that the May [index] continued to tick up from April’s five-point increase provides confirming evidence that the improved confidence level was no fluke. This continued increase indicates that home builders feel we’re at or near the bottom of the market and that positive signs lie ahead for builders and potential home buyers, provided that builder access to production credit significantly improves.”

The NAHB/Wells Fargo housing market index increased by two points to 16 in May. This measure of builder confidence in the market is still near record lows and any score below 50 indicates negative sentiment about the market. So there are slightly fewer builders who feel badly about the state of things now than there were last month.

What’s interesting to me is how slight differences in these types of reports make such a big difference in the mood of the broader markets. National and global stock markets rose today after the NAHB announcement.

So if all the mortgage and housing markets are so hinged on public sentiment it seems like we should all just talk a little more rosily about our home loan and financial situations, right? Or was inflated optimism and over confidence what got us into the current mortgage mess in the first place? Hmm…

Source: Home Builder Confidence - Another Sign of the Bottom?

Bailout can help homebuyers

President Barack Obama’s Economic Stimulus plan includes key strategies aimed at helping people buy homes and stimulate the housing market.

Source: Bailout can help homebuyers

Don’t get suckered by super sales

Retail sales, like magic acts, are full of stunts and illusions. Learn the tricks of the trade.

Source: Don’t get suckered by super sales

Time running out for families to get Disaster Housing Assistance

WASHINGTON - The U.S. Department of Housing and Urban Development is launching a regional print and radio advertising campaign to encourage families who were displaced by Hurricanes Ike and Gustav in 2008 to register for disaster housing assistance.

Source: http://www.hud.gov/news/release.cfm?content=pr09-071.cfm

HUD announces sanctions against more than 120 FHA-approved lenders

WASHINGTON - The U.S. Department of Housing and Urban Development’s Mortgagee Review Board today announced actions
against more than 120 lenders for violating FHA requirements. Violations range from failure to conduct sufficient quality control,
to failure to continue to meet FHA recertification requirements, to falsifying loan documents.

Source: http://www.hud.gov/news/release.cfm?content=pr09-070.cfm

Erika Poethig appointed Deputy Assistant Secretary for Policy Development and Research

WASHINGTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced today that President Barack Obama has appointed Erika Poethig as Deputy Assistant Secretary for HUD’s Office of Policy Development and Research (PDandR).

Source: http://www.hud.gov/news/release.cfm?content=pr09-069.cfm

HUD Secretary Donovan statement on the Helping Families Save Their Homes Act of 2009

WASHINGTON - Today, President Obama signed into law the Helping Families Save Their Homes Act of 2009. The law expands the reach of the Administration’s Making Home Affordable Programs, improves the Federal Housing Administration’s Hope for Homeowners program and streamlines how HUD supports thousands of homeless support programs across America.

Source: http://www.hud.gov/news/release.cfm?content=pr09-068.cfm