Friday, July 03, 2009
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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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7/2/2009 2:39 PM
HOPE NOW, the private sector alliance of mortgage servicers, non-profit counselors and investors touted 249,000 completed workout solutions for struggling borrowers in May. The figure represents a 4% decline from April. Modifications slipped 16.3% from April while repayment plans — including refinancings — rose 6.1% in May after jumping 21.45% in April, indicating at least [...]


7/2/2009 1:11 PM
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts. Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps [...]


7/2/2009 11:51 AM
Fitch Ratings took action on thousands of classes of subprime residential mortgage-backed securities (RMBS) issued prior to 2005, including many downgrades of some classes further into triple-C and single-D junk territory and affirmations of other triple-A classes. The actions come as part of Fitch’s ongoing adjustments for deteriorating subprime performance. They indicate RMBS originated before the [...]


7/2/2009 9:28 AM
At least one home builder is still feeling the full effect of the mortgage bubble implosion — and this time, the wounds were self-inflicted. For builder Beazer Homes USA (BZH: 1.80 -1.64%), news Wednesday of a costly settlement was not the first sign of trouble out of its mortgage lending division. Beazer Homes and its mortgage [...]


7/1/2009 5:13 PM
Mark Kahn is an executive vice president at Principia Partners – a provider of operational software for the management of structured finance portfolios. In the latest installment of In This Corner, Kahn talks about dramatic shifts in both the landscape and scope of his business, which is leading us down the path of innovation. HousingWire: Your [...]

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