Refinance Mortgage Activity Increases - Cash Out Share Falls - 2007-02-14
During the fourth quarter of 2006, 84 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least five percent more than the original mortgage balances, according to Freddie Mac’s quarterly refinance mortgage review. The Cash-Out Refinance Report also revealed that properties refinanced during the fourth quarter of 2006 saw a median house-price increase of 28 percent during the time since the original loan was made.
Read the full story at Originator Times

ResMae Mortgage Gets Court OK for Loan - 2007-02-14
Subprime mortgage lender ResMae Mortgage Corp. won bankruptcy court approval to borrow on a $7.9 million in debtor-in-possession financing as it focus on selling itself to Credit Suisse Group. Judge Kevin J. Carey of the U.S. Bankruptcy Court in Wilmington, Del., on Tuesday also signed off on the company's $250 million master repurchase facility, which will permit ResMae to continue originating mortgage loans through a March 5 final hearing on the financing agreements.
Read the full story at Forbes