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Mortgage Daily News

Treasury Secretary - And the Winner is...
11/21/2008 2:46 PM
President-elect Barack Obama's transition team has announced that he will present his new economic team to the public on Monday. The media has all but confirmed that the new Secretary of the Treasury will be Timothy F. Geithner , president and chief...(read more......

Feeling Bairish? Why Sheila Bair Could Become Treasury's First Female Chief
11/21/2008 9:56 AM
There's growing support from a variety of sources for President-elect Barack Obama to appoint the Federal Deposit Insurance Corporation chairwoman Sheila Bair to succeed Henry Paulson as Secretary of the Treasury. Bair, a 54-year old Republican with...(read more)......

Friday's Events: Focus on Fed, ECB and BOE Speakers
11/21/2008 8:19 AM
In the absence of any major macroeconomic data on Friday, central bankers take the spotlight with comments from ECB President Jean-Claude Trichet, FOMC voting member Charles Plosser, and non-voters Jeffrey Lacker and Charles Evans. Also scheduled to speak...(read more)......

Fed's Lacker Says Economy to Rebound in 2009
11/21/2008 8:14 AM
Richmond Federal Reserve President Jeffrey Lacke r said it is too soon to tell when spending in the United States will revive, but monetary policy is "quite stimulative" and the economy may regain positive momentum in 2009, he said. Speaking...(read more)......

Citigroup Considering Merger, Reports Say
11/20/2008 8:54 PM
Citigroup is reportedly considering a merger with financial institutions Goldman Sachs or Morgan Stanley , according to a CNBC report. Citigroup's stock is rising in after hours trading, up $0.26 to $4.97, but earlier today the stock closed down sharply...(read more)......

Freddie Mac and Fannie Mae Announce Ban on Foreclosures Until Jan. 2009
11/20/2008 4:14 PM
Mortgage finance giants Fannie Mae and Freddie Mac revealed Thursday afternoon they will work to keep Americans in their homes, announcing a suspension on foreclosures starting Nov. 26, 2008 until Jan. 9, 2009. The two companies said no evictions will...(read......

Treasury's Paulson Urges Bipartisan Effort to Restore Market Stability
11/20/2008 3:36 PM
Treasury Secretary Henry Paulson said on Thursday the Treasury's priority is restoring stability and repairing capital markets, but that market recovery will take some time. He urged further efforts to find solutions that aren't reckless. "Clearly...(read ......

HUD Modifies HOPE Program to Assist More Borrowers
11/20/2008 12:49 PM
On Wednesday the Department of Housing and Urban Development (HUD) announced changes to the HOPE for Homeowners Program (H4H) to help more distressed homeowners refinance into affordable, government-backed mortgages. HUD hopes that the changes will enable...(read more)......

Mortgage Rates Ease Lower
11/20/2008 12:38 PM
Mortgage rates drifted downward for the third consecutive week according to the results of Freddie Mac's Primary Mortgage Market Survey for the week ended November 20. All of the rates tracked by the survey are now below the averages of one year ago...(read more)......

NAR Commercial Leading Indicator Weakens, Projecting Further Declines
11/20/2008 9:19 AM
A leading indicator for the U.S. commercial real estate market continued decelerating for the fifth consecutive quarter on Thursday, with all components of the index lower in the third quarter, according to the National Association of Realtors (NAR)....(read more