Monday, August 16, 2010

Final Rules Issued on Originator Compensation. Mortgage Industry Needs Some Simplification

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Today the Federal Reserve Board announced the final rule on loan originator compensation practices. The new rules apply to mortgage brokers and the companies... - MND NewsWire
Builder confidence in the market for newly built, single-family homes edged down for a third consecutive month in August. - MND NewsWire
On Thursday I said this rally has gone too far way too fast, but then on Friday positions were added and the curve rallied a little more. This continued... - MBS Commentary
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MBS Quotes
FNMA 4.0 102-25 0-03
FNMA 4.5 104-20 0-04
FNMA 5.0 106-07 0-00
FNMA 5.5 107-02 -0-04
FNMA 6.0 108-00 -0-04
Updated: 8/16/10 4:33 PM
Treasuries
3 MO 0.1501 0.0001
2 YR 0.4802 -0.0598
5 YR 1.3800 -0.0900
10 YR 2.5626 -0.1174
30 YR 3.7110 -0.1590
Updated: 8/16/10 5:15 PM
Mortgage Rates
30 Yr FRM 4.34 -0.02
15 Yr FRM 3.73 -0.02
FHA 30 Year 4.40 -0.01
Jumbo 30 Year 5.58 -0.02
5/1 Yr ARM 3.42 -0.02
Updated: 8/16/10 4:32 PM
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Recent Comments
Peter M
on 8/16/2010 - read this comment
Like anything else that has happened in this industry in the last 30 years (yes I have been doing this that long) this is a Knee Jerk reaction. To what? The "perceived "cause of the meltdown...
Frank Ceizyk
on 8/16/2010 - read this comment
All unecessary. Define the cost benefit to the borrower--put it in writing, then deliver on the promise you made in writing. Educate the consumer about why the loan is good, show him with MBS knowledge...
Mike Winesburg
on 8/16/2010 - read this comment
Dodd & Frank, and eveyone else in Congress can't seem to get it! For decades the governement has attempted to simplify the mortgage process only to make it more confusing. I know LO's still...
Larry Gray
on 8/16/2010 - read this comment
In response to the desire to permanently outlaw stated income loans Jeff commented on: banks definitely out to be allowed to make educated decisions on each self-employed individual's merits of qualifying...

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