Home loan demand nudge higher in latest week (Reuters)
Reuters – U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
Nationalized UK bank Northern Rock back in profit (AP)
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.
Commercial delinquency lower than other mortgages (AP)
AP – Commercial mortgages were among the best-performing loans and leases held by banks and thrifts in the fourth quarter of last year, the Mortgage Bankers Association said Tuesday.
Glincher Realty alters credit facility terms (AP)
AP – Real estate investment trust Glimcher Realty Trust said Monday it has extended and changed its agreement for its $470 million unsecured credit facility with its lenders, including KeyBank National Association and Bank of America NA.
More work ahead on housing market: Treasury (Reuters)
Reuters – The Obama administration has more work to do to help struggling U.S. homeowners, despite signs of a stabilizing housing market, a senior Treasury official said on Monday.
Foreclosures Down The Road May Offer Investors Better Deals (Investor’s Business Daily)
Investor’s Business Daily – Housing markets rife with foreclosures can still present great deals for investors, but also stiff competition and pitfalls for the inexperienced.
Treasury restates support for Fannie, Freddie (AP)
AP – The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Freddie Mac after a key lawmaker rattled investors by pointing out that their debt does not enjoy the explicit guarantee of the federal government.
Payrolls data buoy job creation hopes (Reuters)
Reuters – U.S. employers cut fewer jobs than expected during snow-battered February and the unemployment rate held steady at 9.7 percent, bolstering views the economy was on the brink of creating jobs.
Lawmaker is working to improve loan modifications (AP)
AP – A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government’s struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.
Blizzards seen slamming U.S. payrolls in February (Reuters)
Reuters – The number of people working in the United States likely fell in February as winter storms that pounded parts of the country kept some workers at home but a swift recovery is expected in March.