Thursday, March 18, 2010
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Below are excerpts of some of the industry specific news which are updated daily.  NAMFS is committed to providing our membership with this timely information so be sure to log in for access to the complete articles.

  
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3/18/2010 3:57 PM
Applications for FHA-insured mortgages climbed 31.1% in February, according to a report from the Federal Housing Administration (FHA). More than 165,000 applications came in February, up from 126,000 in January. Applications for mortgage purchases increased the most. More than 97,000 FHA purchase applications came through in February, an increase of 37.4% from January. Applications for refinances [...]


3/18/2010 3:41 PM
The residential market in Southern California continues to improve, with both sales volume and median price increasing in February compared to year-ago levels, according to MDA DataQuick. There were 15,359 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, DataQuick said. That’s virtually unchanged from 15,361 in January, [...]


3/18/2010 1:10 PM
Arvin Wijay is CEO and founder of Retreat Capital Management, a loan modification and REO management company. Arvin also served with Morgan Stanley (MS: 30.08 -0.66%) as an executive vice president in production and strategic management. In this role, Arvin was an integral part of the acquisition, for $706m, of Saxon Mortgage. Upon completion of the [...]


3/18/2010 12:31 PM
Only a month after the Royal Bank of Scotland (RBS: 12.89 -3.01%)announced a number of new hires into its US-based securitization strategy division, the firm made another addition, this time tapping former Bank of America(BofA) (BAC: 17.08 -1.10%) talent. Paul Jablansky, at BofA from 2003 to 2008, is now managing director, also in the firm’s [...]


3/18/2010 12:26 PM
Comerica Incorporated (CMA: 37.98 -0.68%) yesterday redeemed the $2.25bn of preferred stock issued to the US Treasury Department under the Troubled Asset Relief Program (TARP). In addition to paying back the TARP Capital Purchase Program, Comerica paid the Treasury $150.9m in dividends earned since the date the stock was issued in November 2008. The repayment came [...]

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