Newsdesk | April 13, 2012



Top News
Housing program for 'hardist hit' gets blasted
CNN Money - A TARP program that aims to help the nation's most struggling homeowners is falling short, said a special inspector general for the bailout program.  A federal-state program aimed...
Principal forgiveness on mortgages gains appeal
USA Today - Principal forgiveness supporters say it'll lead to fewer foreclosures and help stabilize housing prices. FHFA's new analysis — and DeMarco's discussion of it — signals that a change is likely, says Ira Rheingold of the National...
Bank of America rearranges business units
Charlotte Business Journal - Charlotte-based BofA explains it is rearranging some of its business units, reducing the total number to five from six. The biggest change is that the bank's deposits and credit and debit card businesses are all in the same division.

Market News
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - Mortgage applications decreased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 6, 2012. 
Rate on 30-year fixed mortgage falls to 3.88%
USA Today -  Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88% from 3.98%. That's just above the rate of 3.87% reached in February, the lowest since long-term mortgages began in the 1950s.
RealtyTrac Reports Foreclosure Filings Down, Foreclosure Timelines Up - default notices, scheduled auctions, and bank repossessions – were reported on 572,928 properties during the 2012 first quarter, down 2 percent from the previous quarter and down 16 percent from the first quarter of 2011, according to RealtyTrac’s U.S. Foreclosure Market report released Thursday.

Technology News
Intel: 75 Ultrabook Designs on the Way, Prices to Reach $699
PC World - Intel said on Wednesday 75 ultrabook models are already in development and will include new form factors such as hybrids, which can switch from laptops to touchscreen tablets. The chip...
Microsoft adds 6 months to Office 2007's support lifespan
InfoWorld - is now scheduled for October Microsoft has extended the mainstream support period for Office 2007 by six months to align the suite's lifecycle with a little-known provision in the company's support policy. Although it's unclear...


Other News
Calif. Lawmakers Oppose REO Rental Program
REALTOR Magazine - The FHFA launched an REO sales program in February, in an attempt to unload the high inventory of foreclosures held by Fannie Mae and Freddie Mac through bulk sales to investors. California holds the highest number of Fannie Mae’s REO inventory, with nearly a quarter of its REOs...