Monthly Archives: July 2010

Fixed-rate issuance of Fannie Mae, Freddie Mac and Ginnie Mae MBS was $95 billion during July based on data reported by eMBS.

Volume was higher than $93 billion in June.

Volume has risen each month since March. Continue reading →

The Cost of Funds Index increased 0.006 percent from May to June, the Federal Home Loan Bank of San Francisco reported.

The index jumped 20 basis points compared to a year earlier.

The index was calculated based on data from 11th District members. Continue reading →

Democratic Rep. Dennis Cardoza is taking steps to curtail travel by U.S. Department of Housing and Urban Development Secretary Shaun Donovan.

The California congressman noted that Donovan took a delegation to Rio de Janeiro in March for an international housing conference.

Cardoza said Donovan needs to first concentrate on the foreclosure rate in the U.S. before getting involved in international housing problems. Continue reading →

Alacrity Lending Co. improperly underwrote home loans, the U.S. Department of Housing and Urban Development concluded in a recent audit.

The agency’s Office of the Inspector General examined 20 FHA loans originated by Alacrity.

The report recommended that the agency’s attorneys determine whether sufficient evidence exists to pursue legal action that could result in "civil enforcement action" totaling more than $3.3 million. Continue reading →