Interest Rate Markets July 15, 2009

→   SecondMarket Launches Marketplace for California Government IOUs
Platform Will Also Enable Trading of Other Government IOUs -- SecondMarket,Mark Murphy,New York Ny  07/15/2009



→   Winthrop Realty Trust Sells Portion of First Mortgage Loan, Restructures Marc Realty Transaction, and Repurchases Additional Series B-1 Preferred Shares
Winthrop Realty Trust (NYSE: FUR) announced today that it has sold to an unaffiliated third party a $35,000,000 9.75% A Note for par with respect to the recently acquired $73,795,919 first mortgage loan, which has a $50,000,000 discounted payoff option, secured by a 19 story, 289,000 square foot office building located at 160 Spear Street, San Francisco, California. As a result of the sale of the A Note, the Company's total current remaining investment in this loan has been reduced to $3,500,000. The Company retains its obligation to fund a separate $4,800,000 15% mezzanine loan ($600,000 per quarter for the next 8 quarters). -- Winthrop Realty Trust,Beverly Bergman,Boston Ma  07/15/2009



→   Freddie Mac Announces $1 Billion Reopening of 1.75% Three-Year Reference Notes(R) Security
Freddie Mac (NYSE:FRE) announced today that it plans to launch a $1 billion reopening of its 1.75% three-year USD Reference Notes security that matures on June 15, 2012. The issue will price today, Wednesday, July 15, 2009, and will settle on July 16, 2009. -- Freddie Mac,Michael Cosgrove,Mclean Va  07/15/2009



→   Mortgage Applications Increase in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 10, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 514.4, an increase of 4.3 percent on a seasonally adjusted basis from 493.1 one week earlier. On an unadjusted basis, the Index increased 15.3 percent compared with the previous week and decreased 2.7 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  07/15/2009



→   Fund Announces Intention to Waive 72 Remediation Point Condition to Offer for RMBS Securities Insured by Syncora Guarantee Inc.
The BCP Voyager Master Funds SPC, Ltd., acting on behalf of and for the account of the Distressed Opportunities Master Segregated Portfolio (the "Fund"), today announced in connection with the Fund's offer for 55 classes of residential mortgage backed securities ("RMBS") insured by Syncora Guarantee Inc. ("Syncora Guarantee") that it does not expect that at least 72 remediation points will be tendered into or otherwise committed through alternative settlements and purchases to the offer. The Fund intends to waive that condition to the offer, subject to Syncora Guarantee receiving the consent of certain counterparties to Syncora Guarantee's credit default swap transactions and financial guarantee insurance policies to the waiver of a comparable condition in the master transaction agreement entered into between Syncora Guarantee and such counterparties. The offer will expire at 4:59 p.m., New York City time, on Tuesday, July 14, 2009, unless extended. -- Syncora Guarantee, Inc.; Syncora Holdings Ltd.,Michael Gormley,New York Ny  07/14/2009



→   30-year Fixed Rates Continue Month-Long Decline
Rates Fall Further on Monday, According to Zillow(R) Mortgage Rate Monitor -- Zillow,Katie Curnutte,Seattle Wa  07/14/2009



→   Regulatory Failures Show Clear Need for an Agency Dedicated to Common-Sense Financial Protections for Consumers
A new policy brief by the Center for Responsible Lending chronicles the repeated failure of federal bank regulators over the years to rein in irresponsible lending practices. Example after example of regulatory delay or inaction demonstrates the need for a stand-alone, independent regulator focused solely on ensuring basic, common-sense safeguards for consumers. -- Center for Responsible Lending,Kathleen Day,Washington Dc  07/14/2009



→   Genworth Financial Says Number of Loans Eligible for MI Modification Will Jump Under New Guidelines for Making Home Affordable Program Refinancing
Genworth Financial, Inc. (NYSE:GNW) said today that the recent decision by the Obama Administration to expand eligibility for its Making Home Affordable program will make an estimated 44% additional loans covered by its U.S. mortgage insurance business eligible for modification in connection with the borrower's refinancing. In all, nearly 530,000 loans will be eligible for modification. -- Genworth Financial Inc.,Terry Souers,Raleigh Nc  07/14/2009



→   Governor Signs Bill to Revitalize Florida`s Economy
When the housing crisis hit last year, Florida was one of the leaders in the number of home foreclosures in the country. As the bottom fell out of the state's real estate market, other industries soon followed, bringing down the rest of Florida's economy with it. -- Snell Legal,System Admin,Miami Fl  07/14/2009



→   U.S. HOUSE PRICES UP 1.6% IN MAY ACCORDING TO IAS360 HOUSE PRICE INDEX
Northeast Leads The Way As All Four U.S. Census Regions Report Gains -- John Burns Real Estate Consulting,Dan Mahoney,Denver Co  07/14/2009



→   Coreland Companies Adds Two Industry Veterans and Promotes Others In Brokerage Division
TUSTIN, CALIF. - Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced today it has significantly enhanced its Brokerage division to oversee the firm's continued growth in the retail and office market sectors. David T. Girty, a 20+ year veteran of the commercial real estate industry in Orange County and most recently a Senior Vice President with Grubb & Ellis, joins Coreland as Director, Office Brokerage, while Matthew Hammond, a retail specialist and 11-year veteran at Coreland, is promoted to the role of Director, Retail Brokerage. Additionally, former Leasing Director of Red Mountain Retail Group, Benjamin Terry, joins Coreland as Senior Associate, Retail Brokerage. Bryan Bauer, entering his sixth year with Coreland's Retail Brokerage team, is promoted to Senior Associate, Retail Brokerage. -- Coreland Companies,Anne Monaghan,Tustin CA  07/13/2009



→   Credit Answers, A Leading Provider In Debt Settlement, Launches A Loan Modification Division
Today, July 13, 2009, 6 hours ago -- Credit Answers,Bill Loughborough,Plano Tx  07/13/2009



→   Consumers Feeling the Pinch of New Banking Fees
CEEL Reminds Consumers to 'Read Fine Print,' Releases Survey Showcasing Overwhelming Need for More Economic and Financial Education -- Center for Economic and Entrepreneurial Literacy,Allison Miller,Washington Dc  07/13/2009



→   POF - Escrow and Investment Transaction Deposit
CASH DEPOSITS INTO ESCROW -- Offshore Trading Platform,Reginald Ollison,Raleigh NC  07/13/2009



→   $50,000 Offshore Trading Platform
To achieve the above we offer: -- Offshore Trading Platform,Reginald Ollison,Raleigh NC  07/13/2009



→   Proof of Funds
Proof of funds supporting a commitment to fund your transaction. Some common uses of the service are the following: -- Atlantic Equity Partners LLC.,Reginald Ollison,Raleigh NC  07/13/2009



→   Block Escrow, Bank Account, MT760, Providing Evidence of Proof of Funds
PROOF OF FUNDS SERVICE -- Offshore Trading Platform,Reginald Ollison,Raleigh NC  07/12/2009



→   The Huntington Investment Company Launches a New Independent Advisor Channel
A 27-Year Investment Veteran Will Lead the New Unit -- Huntington Bancshares,Jay Gould,Columbus Oh  07/10/2009



→   Housing Assist Builds the Bridge Between Homeowners and Banks for Successful Short Sales
Banks expect a recovery from the housing debacle, while cooperating with companies that are qualified in assisting homeowners short sale -- Housing Assist of America,Ardy Afshar,Los Angeles Ca  07/10/2009



→   Mortgage Credit News July 10, 2009
Long-term interest rates plunged this week as "V" hopes gave way to "L" reality. -- Premier Mortgage Group, Inc,Lou Barnes,Boulder Co  07/10/2009



→   American Classifieds Sued for Discriminating Against Families With Children
National Fair Housing Alliance Investigation Uncovers Advertisements Discriminating Against Families with Children, Other Protected Groups in 17 States -- National Fair Housing Alliance,Deidre Swesnik,Washington Dc  07/10/2009



→   Survey Shows Support for Obama Economic Plans
A study conducted by Foreclosure1.com of its users shows support for Obama's economic proposals, particularly those geared towards homeowners. When President Obama took office in January 2009, one of his first actions was to begin assembling an economic stimulus plan that would help revive the U.S. economy. The bill passed, although its $787 billion price tag caused some controversy, particularly among Republicans. -- Foreclosure1.com,James Carter,New York Ny  07/10/2009



→   Nationwide Foreclosure Fear Still Strong as Homeowners Try to Prepare for the Worst
According to ForeclosureRepos.com, REO activity is expected to spike in the coming months as foreclosure delays and moratoria implemented by various state laws come to an abrupt end. The herd mentality is causing people to rush to find alternatives. Attendance at Tele-Seminars, workshops, interactive community meetings, and increasingly large seminars held by reputable mortgage bankers and attorneys are continuing to draw concerned and sometimes desperate homeowners seeking solutions to stay in their homes. Of the many issues discussed are how to protect yourself if the economy doesn't recover, secret tactics of lowering your interest rate and monthly payments, and how to avoid many of the biggest mistakes most people make. -- ForeclosureRepos.com,Julie Thompson,New York Ny  07/10/2009



→   Foreclosure Rates Continue Rising and Housing Prices Continue Falling
ForeclosureDataOnline.com reports more dark days ahead for the housing market and for homeowners concerned about losing their homes. The data collected by the site shows that foreclosure levels continue to rise and are reaching record highs, particularly in states such as Michigan, California, and Florida. -- ForeclosureDataOnline.com,Ray Murray,New York Ny  07/10/2009



→   Wyncrest Group Looks to Acquire Florida Insurance Consulting, LLC
The Wyncrest Group, Inc. (Pink Sheets: WNCG) today announced it's looking to acquire Florida Insurance Consulting, LLC. -- Wyncrest Group, Inc.,Investor Relations,Chicago Il  07/10/2009



→   Treasury Names Nine Firms to Manage PPIP
Nine investment firms were named Wednesday as investment managers for the U.S. Treasury’s program to purchase securities backed by toxic assets from banks in partnership with private investors. -- Fox Business News,Fox Business News,   07/10/2009



→   Commercial Real Estate Is a `Time Bomb,` Maloney Says
The $3.5 trillion commercial real estate market is a ticking “time bomb” that may lead to a second wave of losses at large U.S. banks, congressional Joint Economic Committee Chairwoman Carolyn Maloney said -- Bloomberg,Dawn Kopecki,   07/10/2009



→   Cramer on BloggingStocks: Who needs the PPIP?
Can I just say that I don't care about the public-private investment program? It was a good idea before the stress tests and would have been excellent if all of these banks hadn't raised capital -- Bloggingstocks,Press Release,New York Ny  07/10/2009



→   U.S. Treasury Taps 9 Managers for Toxic-Debt Program
The U.S. Treasury named BlackRock Inc., Invesco Ltd. and seven other managers for its Public- Private Investment Program, in an effort to remove as much as $40 billion in distressed assets from financial institutions. -- Bloomberg,Press Release,Princeton New Jersey  07/10/2009



→   Pelosi Statement on Legislation to Strengthen Consumer Protections in Financial Regulation
Speaker Nancy Pelosi issued the following statement on legislation introduced today by House Financial Services Committee Chairman Barney Frank to formally implement President Obama's plan to strengthen consumer protections as a part of a broader financial regulatory restructuring. -- Office of the Speaker of the House,Brendan Daly,Washington Dc  07/09/2009



→   Bankrate: Economic Worries Bring Mortgage Rates Lower
The average 30-year fixed mortgage rate fell for the third time in four weeks, with the average rate dropping to 5.59 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.4 discount and origination points. -- Bankrate.com,Kayleen Keneally,New York Ny  07/09/2009



→   Foreclosures Everywhere - Now What?
New PolicyLink report highlights promising ways cities and states are dealing with the community impacts of widespread foreclosures -- PolicyLink,Dan Lavoie,Oakland Ca  07/09/2009



→   MBA Reports Government-Insured Share of Mortgage Applications Highest Since 1990, Now at 36 Percent
The government-insured (FHA and VA loans) share of mortgage applications was 35.9 percent in June 2009, the highest level since November 1990, according to the Mortgage Bankers Association. -- Mortgage Bankers Association of America,Carolyn Kemp,Washington District of Columbia  07/09/2009



→   Marathon Asset Management Pre-Qualified as a Legacy Securities Public-Private Fund Manager
Marathon Asset Management, L.P. ("Marathon") is delighted to announce its pre-qualification as a Legacy Securities Public-Private Investment Program ("PPIP") Fund Manager by the United States Department of the Treasury. The U.S. Treasury is expected to invest equity capital in the Public-Private Investment Fund ("PPIF") expected to be managed by Marathon, whereby the Treasury would also provide long-term debt financing for the PPIF for the purpose of investing in legacy securities, including residential mortgage backed securities. -- Marathon Asset Management,Justin Dini,New York Ny  07/08/2009



→   Freddie Mac YouTube(TM) Video Shows Delinquent Borrowers How to Make More Effective Phone Calls to Servicers
New Video Shows Which Documents Can Help Reduce Repeat Calls To Servicers -- Freddie Mac,Brad German,Mclean Va  07/08/2009



→   Private Mortgage Returns Rebound in First Quarter 2009
Annual returns negative for second consecutive quarter -- LifeComps,LifeComps,Boston Ma  07/08/2009



→   Wyncrest Group, Inc. Announces Planned Acquisitions
The Wyncrest Group, Inc. (Pink Sheets: WNCG) today announced that it continues to make progress in its discussions with its targeted acquisitions. The company signed a Letter of Intent to purchase a management consulting services provider based in Florida, and is conducting due diligence on several other potential targets. Subject to the capital markets, a definitive agreement on the Florida-based company is expected in the third quarter of this year. -- Wyncrest Group, Inc.,Investor Relations,Chicago Il  07/08/2009



→   Huntington Grants Shares to Blakely
Huntington Bancshares Incorporated (NASDAQ:HBAN) today announced that Kevin Blakely commenced his role as the new Chief Risk Officer, effective July 8, 2009. In accordance with NASDAQ rules, Huntington also announced that it has issued to Mr. Blakely, on July 8, 2009, an inducement award consisting of a restricted stock award for 40,000 shares of Huntington common stock that vests on the second anniversary of the date of grant, subject to Mr. Blakely's continued employment with Huntington through the vesting date. The restricted stock award was approved by the Huntington Board's compensation committee without shareholder approval as an "employee inducement" award under the NASDAQ rules. -- Huntington Bancshares,Jay Gould,Columbus Oh  07/08/2009



→   Brandywine Realty Trust Closes $60 Million Mortgage Loan
Brandywine Realty Trust (NYSE:BDN) , a real estate investment trust focused on the ownership, management and development of Class A, suburban and urban office properties in the mid-Atlantic region and other selected markets throughout the United States, announced today that it has closed a $60 million first mortgage financing on One Logan Square, a previously unencumbered, 594,361 square foot, 99% leased, class A, office tower in Philadelphia, PA. The loan was provided by PB Capital Corporation and features a floating rate of LIBOR plus 350 basis points (subject to a LIBOR floor) and a seven-year term with three years interest only followed by a thirty-year amortization schedule at a 7.5% rate. The net proceeds were used for general corporate purposes including the repayment of existing indebtedness. -- Brandywine Realty Trust,Marge Boccuti,Radnor Pa  07/08/2009



→   Western Asset Management and The RLJ Companies, LLC Creates New Entity to Manage PPIP Assets
Western Asset Management, the fixed income affiliate of Legg Mason, Inc. (NYSE:LM) and The RLJ Companies, the holding company owned by Robert L. Johnson, today announced the creation of a new minority-owned entity that has been selected as a pre-qualified fund manager in the U.S. Department of the Treasury's Public-Private Investment Program (PPIP). -- Legg Mason,Mary Athridge,Pasadena Ca  07/08/2009



→   Power of Stimulus Slow to Take Hold
Rising Joblessness Blunts President's Plan for Recovery -- Washington Post Staff Writer,Lori Montgomery,   07/08/2009



→   AIG Hank Greenberg Wins One in Court, Hits Homerun Against AIG and Spitzer
Witch-Hunt Caused AIG Woes -- Competitive Enterprise Institute,Richard Morrison,Washington Dc  07/08/2009



→   Residential Finance Corp. Hiring, Has Jobs for Experienced, Successful Mortgage Loan Officers at Columbus Headquarters
Award-winning mortgage refinance lender cited for “Sales Department of the Year”; serves 27 states, offers paid & ongoing training, comprehensive benefits, incentives -- Residential Finance Corporation,Info,Columbus Oh  07/08/2009



→   Mortgage Applications Increase in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 3, 2009, which was a shortened week due to the Independence Day holiday. This week's results include an adjustment to account for the holiday. The Market Composite Index, a measure of mortgage loan application volume, was 493.1, an increase of 10.9 percent on a seasonally adjusted basis from 444.8 one week earlier. On an unadjusted basis, the Index decreased 0.5 percent compared with the previous week and increased 7.2 percent compared with the same week one year earlier. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia  07/08/2009



→   ABSNet Loan Data Available Through 1010data
Loan level data on U.S. RMBS now available -- Lewtan Technologies,Lillian Flores,+17816721175   07/08/2009



→   RBC Capital Markets Becomes Primary Dealer
RBC Capital Markets today announced that it has been designated a primary dealer by the Federal Reserve Bank of New York, effective tomorrow, July 8, 2009. -- RBC Capital Markets,Kevin Foster,New York Ny  07/07/2009



→   Campaign Finance Watchdog Blasts Financial Trade Associations` Efforts as `Campaign to Protect Pure Greed`
Trade associations on pace to spend tens of millions to stop proposed Consumer Financial Protection Agency -- Public Campaign Action Fund,Rick Bielke,Washington Dc  07/07/2009



→   CNinsure Announces Revised Strategic Objective and Focus
ciy: GUANGZHOU, China -- CNinsure Inc.,Oasis Qiu,   07/07/2009



→   Mortgage Rates Inch Down For Third Consecutive Week
Rates Fall Further on Monday, According to Zillow(R) Mortgage Rate Monitor -- Zillow.com,Katie Curnutte,Seattle Wa  07/07/2009



→   PROFNET EXPERT ALERTS: Business & Technology
Michael Jackson's Sudden Death: Importance of Estate Planning, -- ProfNet,David Dickey,   07/06/2009



→   Free Educational Conference on the Economy and Homeownership Supported by Powerhouse Trio
Orlando Magic's Pat Williams on stage with frequent Dr. Phil and Mad Money guests, Loral Langemeier and Harry Dent - all three to speak on economic crisis and financial recovery. -- The Homeowners Conference,Patrick Nolan The Homeowners Confer,Tampa Fl  07/06/2009



→   Hanley Investment Group Sells Single-Tenant NNN Fresh & Easy Neighborhood Market for $2,475,000
Single-Tenant NNN Grocery Store Trades Hands to All Cash Buyer in 20-Day Close -- Hanley Investment Group Real Estate Advisors,Anne Monaghan,Irvine Ca  07/06/2009



→   Fannie Mae Redemption
Fannie Mae (NYSE:FNM) will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption: -- Fannie Mae,Latressa Cox,Washington Dc  07/04/2009



→   Pricing Partners announced today a remarkable improvement on its independent valuation internet platform
Paris-London: Pricing Partners www.pricingpartners.com, the independent valuation expert and a world leader in mathematical models and analytics for derivatives and structured products, announced today a remarkable improvement on its independent valuation internet platform in order to price more accurately TEC10® and EONIA specific products. -- Pricing Partners,Eric Benhamou, Pricing Partner,   07/03/2009



→   Thomson Reuters Releases Q2 2009 Global Investment Banking Reviews
Thomson Reuters has released the final Q2 2009 global reviews for mergers & acquisitions and capital markets activity. -- Thomson Reuters,Clare Arber,London Uk  07/02/2009



→   Mortgage Rates Slide Back
The average 30-year fixed mortgage rate pulled back to 5.70 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.48 discount and origination points. -- Bankrate, Inc.,Kayleen Keneally, Senior Direc,New York Ny  07/02/2009



→   HOUSING RECOVERY UNDER WAY ACCORDING TO INDUSTRY PIONEER
Weichert, Realtors president and founder sees increases in sales and Web traffic as evidence of a stabilizing housing market -- -- Weichert, Realtors,Delia A. Kang,Morris Plains Nj  07/02/2009



→   Appraisal Institute Calls on HUD to Rescind Mortgage Regulation
Calls for New Rules on Appraisal Management Companies -- Appraisal Institute,Bill Garber,Washington Dc  07/01/2009



→   Hodgdon Group Represents Ashley Furniture with Collins Commercial to Acquire 439,000 SF in Colton, CA
* * * -- Monaghan Communications,Anne Monaghan,Colton California  07/01/2009



→   Zillow.com(R) Traffic Grows 67 Percent Year-over-Year in First Half 2009
Amid real estate market uncertainty, homeowners, buyers and sellers turning to Zillow(R) in record numbers for research and advice -- Zillow.com,Jill Simmons,Seattle Wa  07/01/2009



→   Freddie Mac Relief Refinance Mortgage(SM) Now Available With Up to 125 Percent Loan-To-Value Ratios
Major Change Opens Door to Refinance Relief for More Borrowers in Hard Hit Markets -- Freddie Mac,Brad German,Mclean Va  07/01/2009



→   Mortgage Applications Decrease in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 444.8, a decrease of 18.9 percent on a seasonally adjusted basis from 548.2 one week earlier. On an unadjusted basis, the Index decreased 18.5 percent compared with the previous week and decreased 7.4 percent compared with the same week one year earlier. -- Mortgage Bankers Association,John Ferber, Commercial,Washington Dc  07/01/2009



→   Unlikely New Coalition Shines Spotlight on National Goal of Dramatically Upping Energy Efficiency of All New U.S. Homes, Commercial Buildings
Utility CEO, State Energy & Industry Assn Heads, Homebuilder, Efficiency Advocates Join in Urgent Call for Strong Building Energy Codes in All States -- Alliance to Save Energy,Ronnie J Kweller,Washington Dc  06/30/2009