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U.S. News World Report – Even as mortgage rates remain near record lows, the Mortgage Bankers Association believes that the looming expiration of a key Federal Reserve program may increase home loan costs next year. Still, the MBA expects rates to remain extremely attractive throughout 2010, helping to juice home sales and insert a floor underneath real estate values. Here are five things you need to know about the MBA’s 2010 economic outlook:

The Mortgage Bankers Association has issued an economic forecast that projects further increases in unemployment but continued low interest rates, high rates of refinancing, and a turn-around in economic production….(read more) addthis_url = ‘http%3A%2F%2Fobsoletecertainty.com%2Fmba-forecasts-slow-economic-recovery-less-refinances-more-purchases%2F’; addthis_title = ‘MBA+Forecasts+Slow+Economic+Recovery%2C+Less+Refinances%2C+More+Purchases’; addthis_pub = ”;

Mortgage demand falls despite lower rates U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said.

Even as mortgage rates remain near record lows, the Mortgage Bankers Association believes that the looming expiration of a key Federal Reserve program may increase home loan costs next year. Still, the MBA expects rates to remain extremely attractive … View original story…

Oct. 13 (Bloomberg) — Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to bring more homeowners into the initiative while recognizing concern that it may only postpone defaults, according to JPMorgan Chase Co. “We’re working with our peers to develop a proposal to present,” Douglas Potolsky, a senior vice president at JPMorgan’s Chase home-loan unit, said yesterday at a Mortgage Bankers Association conference in San Diego.

Job waste have transposed subprime loans as a categorical cause, experts say. Despite sub-5% debt rates as good as signs which home prices have bottomed out in a little places, management team as good as economists have been decidedly downbeat about a destiny of a country’s debt attention as good as a housing marketplace it depends on. The Mortgage Bankers Assn.

Here are my Top 10 links from around the Internet at 10am. I welcome your additions and comments in the comments below or please email me your suggestions for Friday’s Top 10 at 10 to bernard.hickey@interest.co.nz Dilbert shows how the US government really works today. 1. A big crunchy, puffy meringue – Brian Fallow’s Thursday column in the NZHerald is often an excellent read and this week’s is no exception. He is rightly cautious about all the recovery talk and says the economy still has some major flaws.

Job losses have replaced subprime loans as the main cause, experts say. Despite sub-5% mortgage rates and signs that home prices have bottomed out in some places, executives and economists are decidedly downbeat about the future of the country’s mortgage industry as well as the housing market it depends on. The Mortgage Bankers Assn. said Tuesday that it expected home foreclosures in the U.S. to continue to rise before leveling off late next year.

The average rate on a 30-year fixed home loan edged back above 5% last week — and down went mortgage applications. That’s the word in  a Mortgage Bankers Assn. survey released today , which said applications for purchase loans slipped 5% from the previous week. Applications for refinance loans, which have made up about two-thirds of the total recently, were essentially flat, falling by 0.1%. Overall decline: 1.8% The trade group’s statistics assume a 20% down payment — a lofty amount for many people.

The Mortgage Bankers Association (MBA) released a model sale and servicing agreement form for lenders to use when buying and selling whole loans with the intent of selling to the securitization market. MBA said the form provides standard formatting and text and using it will reduce the time, effort and cost of legal and due diligence [...]

October 14th, 2009 | No Comments | Posted in Featured Article, Home Sales Coming off a year with mixed results (at best) in the housing market, real estate investors can expect an improved, if still somewhat fragile, housing market in 2010, according to Mortgage Bankers Association (MBA) chief economist Jay Brinkmann.Following a 2 percent gain in 2009, Brinkmann forecast that existing home sales would increase by 11.2 percent in 2010.

The Mortgage Bankers Association has released its forecast for the housing market and economy.Related PostsLoans for Unemployed Workers Facing Foreclosed Property SaleRetirement Chain Needs Cash to Avoid Becoming Property for SaleStrategic Defaults Drove Foreclosure Properties for SaleFirst time home buyer…don’t know anything about FHA loans or mortgage amount for my income???Backlog of Unsold New Homes Dwindling: 5 Things to Know Tags: economy, housing market, mortgage bankers associationSearch

SAN DIEGO (AP) — Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said … View original story…

The Mortgage Bankers Association (MBA) expects economic growth to continue through the rest of 2009 before slowing in the first half of 2010. Unemployment is expected to climb to 10.2 percent by the middle of 2010 before beginning to moderate as … View original story…

Mortgage application volume slowed during the week ending October 9 as mortgage rates finally reversed course, according to the Mortgage Bankers Association. The MBA’s home loan application index was down 1.8 percent on a seasonally adjusted basis (-1.7% unadjusted) compared to one week earlier (the MBA forgot to add the year-over-year stats). The refinance index slipped just [...]

Yahoo! News: Business – Real Estate   Business – Real Estate Source: | Yahoo! News | U.S. News World Report – Even as mortgage rates remain near record lows, the Mortgage Bankers Association believes that the looming expiration of a key Federal Reserve program may increase home loan costs next year. Still, the MBA expects rates to remain extremely attractive throughout 2010, helping to juice home sales and insert a floor underneath real estate values.

Colorado mortgage rates hit 4.9%, lowest in months Mortgage Bankers Association: Applications fall 1.8% Colorado mortgage rates at 4.85%; applications up Zillow: Tampa homebuyer discounts nearly double U.S. median MBA: Creative efforts needed to deal … View original story…

While both the media and stock investors believe that housing has bottomed, they are unaware of the massive supply of homes that are already in the foreclosure process that will certainly drive home prices down even further when they are sold. We have been projecting a “W”-shaped recovery for some time, and we are becoming even more convinced that we are right. The shape of the second leg down is almost completely dependent on the level of government intervention that will take place.

Mortgage demand falls despite lower rates U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said.

Prymak’s Robert Funke Receives the Mortgage Bankers Association’s CMT Designation PR-USA.net (press release) Robert (Bob) Funke, a founding partner and Vice President at Prymak, has earned the designation of Certified Mortgage Technologist from the Mortgage Bankers …

Mortgage professionals expect home foreclosures to keep rising Los Angeles Times The Mortgage Bankers Assn. said Tuesday that it expected home foreclosures in the US to continue to rise before leveling off late next year. … Read the original here: Mortgage professionals expect home foreclosures to keep rising – Los Angeles Times

Los Angeles Times Mortgage professionals expect home foreclosures to keep rising Los Angeles Times A pre- foreclosure sign is displayed outside a home in Miami. The Mortgage Bankers Assn. says it expects home foreclosures in the US to continue to rise … Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg MBA: Foreclosures , unemployment to peak next year The Associated Press MBA: Creative efforts needed to deal with foreclosures

Los Angeles Times Mortgage professionals expect home foreclosures to keep rising Los Angeles Times A pre- foreclosure sign is displayed outside a home in Miami. The Mortgage Bankers Assn. says it expects home foreclosures in the US to continue to rise … Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg MBA: Foreclosures , unemployment to peak next year The Associated Press MBA: Creative efforts needed to deal with foreclosures

The Mortgage Bankers Association’s chief economist, Jay Brinkmann, is predicting more housing and employment woes ahead of us. From the Associated Press’ Alex Veiga tonight: Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday.

SAN DIEGO — Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said … View original story…

SAN DIEGO — Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said … View original story…

From an article by Jody Shenn and Dawn Kopecki on Bloomberg: JPMorgan Pitches Interest-Only Mortgages to Boost Obama Plan Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans … while recognizing concern that it may only postpone defaults, according to JPMorgan Chase Co. “We’re working with our peers to develop a proposal to present,” Douglas Potolsky, a senior vice president at JPMorgan’s Chase home-loan unit, said yesterday at a Mortgage Bankers Association conference in San Diego.

MBA: Foreclosures , unemployment to peak next year The Associated Press SAN DIEGO — Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and US economy grapple with … Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg Mortgage Bankers Assn.

MBA: Foreclosures , unemployment to peak next year The Associated Press SAN DIEGO — Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and US economy grapple with … Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg MBA: Creative efforts needed to deal with foreclosures Bizjournals.com Mortgage Bankers Assn. sees foreclosures , unemployment peaking in 2010, home …

MBA: Foreclosures, unemployment to peak next year (AP)AP – Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday.View post:MBA: Foreclosures, unemployment to peak next year (AP) Share and Enjoy:

AP – Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Read full story

SAN DIEGO – Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Jay Brinkmann’s forecast, released at the trade association’s annual convention and expo in San Diego, envisions a slowly growing economy and improving housing market, with home price declines abating and fixed mortgage…

Despite signs of stabilization at the end of 2009, next year could prove treacherous for the housing and mortgage markets as a variety of woes could rekindle the falloff of the last two years, according to mortgage-industry veterans speaking at the Mortgage Bankers Association annual convention here Tuesday.

Despite signs of stabilization at the end of 2009, next year could prove treacherous for the housing and mortgage markets as a variety of woes could rekindle the falloff of the last two years, according to mortgage-industry veterans speaking at the Mortgage Bankers Association annual convention here Tuesday.

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Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg Oct. 13 (Bloomberg) — Foreclosure rates will continue to climb through late next year, peaking only after the US … Mortgage Bankers Assn. sees foreclosures , unemployment peaking in 2010, home … Gaea Times (blog) all 84 news articles » Original Post By Google News Click Here For The Entire Article

AP – Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Read full story

SAN DIEGO – Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Jay Brinkmann’s forecast, released at the trade association’s annual convention and expo in San Diego, envisions a slowly growing economy and improving housing market, with home price declines abating and fixed mortgage…

Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg Oct. 13 (Bloomberg) — Foreclosure rates will continue to climb through late next year, peaking only after the US … MBA: Creative efforts needed to deal with foreclosures Bizjournals.com MBA: Foreclosures , unemployment to peak next year The Associated Press MBA names new RESBOG members and leadership National Mortgage Professional Magazine RealEstateRama all 78 news articles »

Foreclosures Will Peak at End of 2010, Mortgage Bankers Say Bloomberg Oct. 13 (Bloomberg) — Foreclosure rates will continue to climb through late next year, peaking only after the US … MBA: Creative efforts needed to deal with foreclosures Bizjournals.com Mortgage Bankers Assn. sees foreclosures , unemployment peaking in 2010, home …

MBA: Foreclosures, unemployment to peak next year SAN DIEGO ? The chief economist for the Mortgage Bankers Association says foreclosures will peak by the end of next year as unemployment creeps above 10 percent. The forecast by Jay Brinkmann was released Tuesday at the trade association’s annual convention and expo in San Diego. Brinkmann expects unemployment to peak [...]

on October 14th, 2009 Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Jay Brinkmann’s… Sponsored Topics:Mortgage Bankers Association – Foreclosure – Business – Financial Services – Banking ServicesSee the original post: MBA: Foreclosures, unemployment to peak next year businessAdd to del.icio.usDigg

AP – The chief economist for the Mortgage Bankers Association says foreclosures will peak by the end of next year as unemployment creeps above 10 percent. Read full story

If real-estate agents, mortgage bankers and other industry groups have their way, prospective home buyers will be rewarded for diving in long past the Nov. 30 deadline for the current tax credit.

October 13th, 2009 | No Comments | Posted in Investor, Mortgage Federal Housing Authority (FHA) commissioner David H. Stevens is speaking out against proposed legislation that would increase the rate that real estate investors are required to pay for a down payment.Speaking during a panel session at the Mortgage Bankers Association’s annual convention on Monday, Stevens warned that upping the down payment requirement would make it harder for those who need the low-cost mortgages the most to get

The Mortgage Bankers Association Chairman David Kittle stated this morning that they are “pushing for the expansion or extension of the tax credit and we are very close to winning this one.”  The tax credit has boosted home sales and mortgage applications since the summer and the MBA feels the push would be stalled if the credit were to end.    Also Paul Bengala, an advisor to the Clinton Administration, predicted the credit would be extended in part because of feeling among a number of

According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent last week. “Such low rates are spurring mortgage demand,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. “Interest rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first collected in 1991 and 5-year ARMs also hit an all-time record starting in 2005.

Indianapolis foreclosure listings are leveling, but they may again grow as soon as major Indiana employer Eli Lilly implements its plan of cutting 5,500 jobs over the next 24 months. According to Jim Litten, head of F.C. Tucker Co., the Indianapolis housing market is showing signs that it is recovering from … Source: www.foreclosurelistingsnationwide.com Los Angeles Foreclosure Listings May Grow due to FHA Loans The high number of Los Angeles foreclosure listings may grow further if more homeowners who took out loans guaranteed by the U.S.

Mortgage demand falls despite lower rates U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said.

U.S. stocks fell, pulling the Standard Poor’s 500 Index down from a one-year high, as analyst Meredith Whitney downgraded Goldman Sachs Group Inc. and said she was “far less bullish” on banking shares – Bloomberg German investor confidence unexpectedly declined for the first time in three months in October amid concerns that the pace of the nascent recovery in Europe’s largest economy may ease – Bloomberg Gold rose to a record in New York and London on speculation that a weakening dollar and faster inflation will boost the appeal of precious metals.