Trying to get out there first with a proposal for the future of Fannie Mae (FNM) and Freddie Mac (FRE), the Mortgage Bankers Association (MBA) is calling for Fannie and Freddie to be broken up into several smaller privately held companies that issue securities with an explicit government guarantee, not just an implied guarantee, according [...]

By PETER S. GOODMANNew York TimesThis week, the Obama administration summoned mortgage company executives to Washington to demand they move faster to lower payments for homeowners sliding toward foreclosure. Treasury officials called on the companies to hire and train more people quickly to field applications for relief. But industry insiders and legal experts say the [...]

Fast Facts: Calif. median home price – June 09: $274,740 (Source: C.A.R.)Calif. highest median home price by C.A.R. region June 09: Santa Barbara So. Coast $850,000 (Source: C.A.R.)Calif. lowest median home price by C.A.R. region June 09: High Desert $108,600 (Source: C.A.R.)Calif. First-time Buyer Affordability Index – First Quarter 2009: 69 percent (Source: C.A.R.)Mortgage rates [...]

You’ve probably heard about President Barack Obama’s plan to rescue the housing market. He believes that restructuring distressed mortgages will help to keep struggling home owners in their homes. He also believes that this will help slow or stop the decline in housing prices. To this point $75 billion has been allocated toward modifying distressed [...]

DRE issues fraud warning The DRE recently issued a fraud warning alerting consumers about loan modification scams and informing consumers of what they can do to protect themselves. The alert is available in both English and Spanish. Last July, the DRE had fewer than 10 complaints involving loan modification companies; today the department has 750 [...]