AP – The value of home mortgage advances in January fell by half from December, when there was a late rush to complete deals before a tax break ended at the New Year, the Council of Mortgage Lenders said Friday.
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AP – BULLISH OUTLOOK: Citigroup Inc. says its returning to “sustained profitability” after losing billions on bad loans and taking a federal bailout. CEO Vikram Pandit says the bank is shedding risky mortgage assets and shifting focus to emerging markets like Latin America and Asia.
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AP – Fannie Mae on Thursday said it will offer $6 billion of new 3-year notes due May 7, 2013.
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AP – The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.
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AP – Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.
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Reuters – U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.
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AP – Calling himself a realist, Gov. Pat Quinn on Wednesday scaled back his proposal to raise income taxes, shifting to a call for an increase of just one percentage point to be used solely for preventing deep cuts to education.
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Reuters – U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
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AP – Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.
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