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Moody's Expects HAMP Missteps to Prolong Home Price Declines Moody's Investors Service is forecasting another 8 percent decline in home prices before a bottom in property values is reached. That's actually an improvement over previous estimates, but it's the duration of depreciation that's the headline grabber. Last month, Moody's analysts were predicting the price floor to be reached in the third quarter of this year. Now they say it won't be hit until the end of the fourth quarter, largely because of the "underwhelming" success of the administration's Home Affordable Modification Program (HAMP). Fixed-Rate Dominates Refinance Market, with More Choosing Shorter Terms As borrowers refinance their home loans, they are overwhelmingly choosing fixed-rate loans, Freddie Mac said in a report issued Monday. That probably comes as no surprise - homeowners see today's low fixed-rate as the preferred option over an adjustable rate that's going to jump in three years and dramatically raise the borrower's monthly obligation. What is surprising, though, is that more borrowers are going with a shorter term loan to get out from under their mortgage debt faster. Fed Wants Banks' Loan-Level Data to Prevent Meltdown Repeat Federal Reserve Board Governor Daniel Tarullo is urging lawmakers to craft reform legislation that would give regulators the authority to collect a broader range of data from lenders, including details of their loans and securities. It's insight the governor says is needed to accurately assess large financial firms' risk and ward off another crisis where the collapse of any one institution sends the system into a tailspin - as was the case when Lehman Brothers went under in 2008. More CMBS Loans Moving to Special Servicing: Fitch Loans within commercial mortgage-backed securities (CMBS) are transferring to special servicing in larger batches and with increasing speed, Fitch Ratings said in its weekly U.S. CMBS newsletter. Last month saw 248 loans totaling $4.27 billion move into special servicing. That figure is four times the balance that transferred in January of last year. You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference. Corporate Office: DS News 1909 Woodall Rodgers Suite 300 Dallas, TX 75201 Add us to your address book Washington Bureau: 1101 Pennsylvania Avenue NW Suite 600 Washington, D.C. 20004 Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2010 Five Star Conference DARE

Rob Alley, Realtor
Keller Williams Realty
540-250-3275
roballeyrealtor@gmail.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.robsellscharlottesville.com
Oh, by the way, I am never too busy to work any of your referrals.
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Licensed to Sell Real Estate in the Commonwealth of Virginia