HousingWire's Monday Morning Cup of Coffee takes a look at news from the weekend, with more coverage on bigger issues.

NASA Federal Credit Union and Navy Federal Credit Union are offering members mortgages that do not require a down payment or mortgage insurance.

This type of loan contributed to the burst of the housing market in 2008, but both banks said they believe their underwriting standards and member relationships will protect everyone from loan losses, Credit Union Times reported.  

Bill White, vice president of residential lending at NASA Federal Credit Union, said the bank focuses on members' ability to repay the loan instead of what might happen to the value of the underlying asset.

White added, "It really is all about our members. They understand how the credit union seeks to help them and they want to help the credit union too."

Blackstone Group may be making a play for computer manufacturing giant Dell, but that's not the last of their recent investment forays. The company is already snapping up properties on 1,000 of houses across the United States.

The Tampa Bay Times is reporting that the asset management and financial services player seems particularly focused on its local market. The article estimates Blackstone put forward $150 million to buy 1,000 properties in the last six months.

It's all part of a $3.5 billion bet on single family rentals nationwide.

The Tampa Bay Times calls the Blackstone strategy one that focuses on "once-proud homeowners," who "are beginning to reject home ownership altogether."

Perhaps the rentals would be even more attractive with a personal computer thrown into the deal. Just saying.

Phil Hall, editor of MortgageOrb, posted a blog on Sunday listing 10 questions he would pose to U.S. Attorney General Eric Holder.

Recently, Holder was asked why no Wall Street executives faced criminal prosecution by the U.S. Department of Justice, and he replied: "If you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy." 

Hall brought up how the only financial institution that has received a criminal indictment for mortgage fraud in the run-up to the 2008 meltdown is Abacus Federal Savings Bank, bringing up the question if they are really the only financial institution that committed a mortgage fraud crime.

Although the questions remain unanswered, Hall’s list presents key issues for readers.

The Charlotte Observer reported Sunday residents of North Carolina are facing heavy frustrations over mortgage settlements.

Many underwater borrowers are battling with dual-tracking, where the banks press ahead with foreclosure proceedings while borrowers scramble to get their loans modified. 

A $25 billion settlement was reached a year ago ordering banks to do a better job helping troubled homeowners, but the rules still allow banks to move forward with foreclosure sales as they help borrowers modify their loans as long as they do not actually sell the home, the article reports.

Both Bank of America and Wells Fargo said they are doing everything the settlement requires, and their mortgage servicers repeatedly try to reach out to delinquent borrowers before referring a loan to foreclosure, according to the article.

The first day of Spring arrived last week, but with the season comes a shortage of homes for sale for Spring homebuyers, The Detroit News reports.

Median home sales in Michigan counties have jumped $22,000 in the past year, to $80,000. The article states that this is in a large part due to the shrinking number of homes for sale.

"In February, the inventory in Metro Detroit — which covers most of southeastern Michigan — sank to a low not seen since April 2002.  Just 14,544 homes and condos were listed, a 24.8% drop compared with the same period a year ago, down by 993 units from January," the article said.

Lagging behind, homebuilders plan to build 5,100 single family homes in southeastern Michigan, but the pace is half the level of activity of the past four decades.

The Federal Deposit Insurance Corp. did not close any banks during the week ending March 22. 

bswanson@housingwire.com