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Over the coming quarter do you expect to see new sources of funding enter the market for jumbo lending?

Most Popular Stories

These were the past week's most frequently emailed stories on our site:

1. RESPA Rule Delays Many Mortgages, Torpedoes Others
2. Defendants Arraigned in Suffolk County Mortgage Fraud
3. Home Equity Won't Be Coming Back for a Very Long Time
4. Loan Prices Rise As Demand Strengthens for Assets
5. Private Money Lenders Keep Donors a Secret

Quote of the Week

"It is irresponsible for the administration to give Fannie and Freddie a blank check and offer no strategy for reforming the GSEs."

Rep. Spencer Bachus, R-Ala., and the ranking Republican on the House Financial Services Committee

Reprints

If you would like professionally prepared reprints of articles or permission to re-publish an article or post an article on a Web site, please contact Denise Petratos at 212-803-6557.

CRE Losses Could Pass $150 Billion Next Year

By Matthew Monks

Losses on commercial real estate loans could top $150 billion by the end of 2011, meaning banks have just started dealing with the problem, Moody's Investors Service said.

The 65 U.S. banks rated by Moody's lost $43 billion on CRE credits from 2008 through the third quarter of 2009. Those lenders are projected to lose another $77 billion through the end of next year, the firm said in a report late last week.

The industry's total losses "may well exceed" $150 billion when taking into account potential losses on the roughly $900 billion of CRE loans sitting on the books of the 8,000 or so community and regional banks that Moody's doesn't cover.

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Refinances in 2010 will be down 52% and purchase mortgage volume will be down 5% from 2009, according to the latest projections from iEmergent, a Des Moines, Iowa-based market research firm.

Lenders originated $86.1 billion in FHA-insured single-family loans in the fourth quarter, up 21% from same quarter in 2008.

HUD to Create Sustainability Office

The Department of Housing and Urban Development has created an office of sustainable housing that will work on improving energy-efficient homes and financing for those homes.

U.S. prime jumbo delinquencies have been climbing and could be as high as 10% as early as next month, according to Fitch.

Senate Banking Committee chairman Christopher Dodd, D-Conn., said his talks with the ranking committee Republican have reached an impasse and he wants to move ahead with financial regulatory reform legislation.

With the sale of its 10-story headquarters building at 1331 L Street NW completed, the Mortgage Bankers Association will be moving to new digs later this year.

The seasonally adjusted annual rate of Canadian housing starts jumped to 186,300, suggesting an upward trend.

Equity National has released PACEplus, a predictive valuation tool intended to combine data and human analysis to ensure a more accurate measurement of a distressed property's true market value.

Wells Fargo Funding has authorized the use of Docu Prep's EESS product for digital signing documents.

Service 1st Valuation and Settlement Services Inc. has joined the Ellie Mae Network.

Berkadia Commercial Mortgage, Chicago, has originated $9.55 million in permanent, fixed-rate debt through its FHA program to finance the construction of Victory Centre of Galewood, a seniors' housing community in Chicago.