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June 5th, 2010

Weekly Blog Recap

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Since we haven’t done one of these in a while, I felt it was time to resurrect the weekly recap. Let review this week’s blog posts with a short excerpt from each (the titles will link to the full post):

Sunday:

Nonprofit Finds Unemployment Is Main Cause of Defaults“:

No big surprise here: the majority of borrowers receiving housing counseling through one nonprofit claim unemployment caused them to default.

Monday:

Happy Memorial Day“:

We would especially like to extend our sincere gratitude to all the servicemen and woman who have served and to those who have dedicated their lives to preserving the freedoms of our country.

Tuesday:

Mortgage Rates Set New Record Low“:

Last week, mortgage rates managed to tick even lower — albeit not by much — than the record-setting figured we recorded back on December 04, 2009.

Update1: Changes to HAMP: Docs Required Upfront“:

These changes to the HAMP program (see ‘original post’ below) begin today. Servicers can now only review a mod application after a borrower has provided all the required paperwork.

According to Making Home Affordable, here is the new protocol…

Wednesday:

LATEST POLL: How Did You Utilize Your tax Refund“:

Assuming you received your federal tax refund already, we’re looking to find out what you did with your money this year.

How Did You Utilize Your Tax Refund?

View Results

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Living Rent Free: Milking the Process or Self Preservation“:

In an article that has created a lot of buzz across the web, the New York Times examines the actions of a few American homeowners who, almost by happenstance, have found pleasure and even financial comfort by being in foreclosure.

But is it fair? Are these borrowers milking the foreclosure process or is it merely a matter of self preservation? I guess it all depends on who you ask.

Thursday:

Massive Recall of Maytag Dishwashers“:

While this topic is a little out of our sweet spot, we wanted to make sure that you all were aware of the recall of 1.7 million Maytag dishwashers.

Reminder: New Two-Month Forecast for Mortgage Rates“:

On a bi-monthly basis, HSH.com releases their Two-Month Forecast for Mortgage Rates. In each forecast, we review our previous prediction — evaluating the circumstances that caused rates to do what they did — and we examine current factors and conditions in order to forecast mortgage rates over the next nine weeks or so.

New Articles on HSH.com“:

It’s certainly not uncommon for homebuyers and homeowners to have a lot of questions, especially in today’s ever-changing market. The latest content on HSH.com can help answer your questions. Let’s take a look at the latest additions to our “Articles & Information” section (towards the bottom of our homepage).

Friday:

May’s Job Numbers Take a Step Back“:

Despite the fact that jobs were added at their fastest pace in a decade, stocks were driven lower this morning and optimism of a firm and continued recovery faded due to the fact that the number of new jobs in May were overwhelmingly exaggerated by the hiring of temporary census workers.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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