Case-Shiller Data Confirms Double-Dip in Home Prices

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May 31, 2011 3:00PM Case-Shiller Data Confirms Double-Dip in Home Prices The March S&P/Case Shiller Home Price Indices , released by Standard & Poor's, paint an increasingly clear picture of the "double dip" in U.S. home prices. The indices, which are billed by S&P as the leading measure of U.S. home prices, are constructed to track the price path of typical single-family homes in a number of metropolitan statistical areas (MSAs). The study uses matched price pairs of individual houses to construct a 20-City Composite Index and a 10-City Composite Index which... May 31, 2011 9:05AM The Week Ahead: Jobs, Jobs, Jobs The week ahead holds key jobs data that will likely dictate market directionality as the 2nd Quarter comes to a close. The monthly Employment Situation Report will be released on Friday morning; investors expect it to confirm an economic slowdown is indeed in progress. Economists polled by Reuters see just 190k jobs were added to Nonfarm Payrolls in May versus 244k in April and 221k in March. "Higher readings of initial claims for unemployment insurance in recent weeks have led to concerns about... Premium Capture Reg Presents Hurdle for Non-Agency Lending HUD Addresses Upcoming Reduction in Loan Limits; Foreclosure Moratoriums Back; Repurchase Requests Down Mortgage Rates: High-Risk Event Ahead Loan Disclosure Reform Incomplete without Borrower Education MBS RECAP: Stocks and Bonds Better Republicans Aim to Raise FHA Down Payment Requirement View: Front Page | Headline Viewer Micro News 5:11 PM: Wednesday Adds Fed Speakers to Busy Week of Econ 3:51 PM: Stocks Heading Higher Into Close, Bonds Stay Steady 2:36 PM: MBS Move to New Highs, Breaking Today's Resistance 2:14 PM: FHA, FNMA Announce "Green Refinance Plus" 1:42 PM: Bearish investors cut stocks, boost bonds: Reuters poll 10:02 AM: Econ: US consumer confidence drops in May 10:00 AM: ECON: Chicago PMI Lowest Since Nov 2009 9:02 AM: US home price index falls to double-dip in March-S&P »View All Micro News Around the Web Falling Home Prices Hit Big Banks, Fannie, Freddie The Rest of the Story on HOME The Excess Vacant Housing Supply Even more Negative Sentiment for Homeownership FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table Adjusting Wage Disparities for Cost of Living »View More Around the Web Video News Economists Cut 0.5% Off Q2 GDP Home Prices Continue Freefall Double Dip in Home Prices »View More Video News Today's Comments "There are programs for first time home buyers that include savings and completion of approved homebuyer and financial education. Real class room education..." "Dceizyk....one of the biggest hurdles that I believe we face on the borrower education front is that we (brokers, bankers, lenders) are not the gate keepers..." "As industry participants we have a once -in-a-lifetime opportunity to take leadership in the re-creation of the mortgage paradigm. Out of the ashes of..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Hi everyone, I need advice from you guys on how the interest rates work. I'm going with Wells Fargo and I've locked in my interest rate at 4.25..." "I need a lender that will do USDA down to 620. We are a lender but have overlays with a minimum of 640 so it would have to be a brokered deal." "May 26, 2011 I am writing to you today on behalf of the Texas Association of Mortgage Brokers, doing business as the Texas Association of Mortgage Professionals..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.63 -0.01 15YR 3.94 0.00 FHA30YR 4.31 -0.01 Jumbo30YR 5.08 -0.02 5/1ARM 3.25 0.00 MBS Quotes FNMA 3.5 96-19 -0-01 FNMA 4.0 100-20 0-01 FNMA 4.5 103-26 0-03 FNMA 5.0 106-13 0-03 Treasuries 2 YR 0.4685 -0.0115 3 YR 0.7802 -0.0188 5 YR 1.6976 -0.0214 7 YR 2.3872 -0.0098 10 YR 3.0589 -0.0131 30 YR 4.2215 -0.0195 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Loan Disclosure Reform Incomplete without Borrower Education

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May 27, 2011 3:30PM Loan Disclosure Reform Incomplete without Borrower Education Today is the deadline to submit feedback on the Consumer Financial Protection Bureau's first attempt at combining the Good Faith Estimate and Truth in Lending statement. If you haven't shared your thoughts on the matter, I urge you to do so, especially if you're an industry professional. HERE is the feedback portal In the process of developing my own personal perspective on mortgage disclosure reform I took an approach that some folks mind find a bit odd; I sought out a consultant with no direct... May 27, 2011 1:13PM Home Sales Sag into Summer Months. NAR Harps on Tight Credit The National Association of Realtors® (NAR) released its April Pending Home Sales Index (PHSI ) today. The index is said to be a leading indicator for the housing sector; it measures sales activity based on sales of single-family homes, coops and condos. The data reflects contracts but not closings, which normally occur with a lag time of one or two months. Pending home sales fell in April with regional variations following increases in February and March, with unusual weather and economic softness... Mortgage Rates: Illustrating Positive Progress Republicans Aim to Raise FHA Down Payment Requirement Pipeline Hedging Costs; Servicer Single Point of Contact; High Concentration of Foreclosures; Looking for Jumbo Lender? MBS RECAP: Reprices for Worse Reported Loan Demand Lags Interest Rate Rally. Several Reasons Cited Foreclosures Sell at 27% Discount. Distress Focused in Few States View: Front Page | Headline Viewer Micro News 2:18 PM: Reprice for the Worse Reported 2:07 PM: 10yr TSYs Hold 3.075 Heading Into NFP Week 1:06 PM: We're Not Concerned About Late Day Weakness 12:19 PM: Sideways At Year's Best Levels as Volume Dwindles 10:53 AM: Bond Market Passes First Test of Support 10:07 AM: ECON: Pending Home Sales Fall 11.6 pct 9:56 AM: ECON: Jobs optimism lifts consumer sentiment in May 8:33 AM: U.S. consumer spending tepid in April - RTRS »View All Micro News Around the Web Economic Slowdown: Temporary or Something Worse? Lawler: Census 2010 Demographic Profile: Highlights, Excess Housing Supply Estimate, and Comparison to HVS FDIC: Regulatory Actions Related to Foreclosure Activities Peter Wallison Discusses Fannie and Freddie for the American Spectator, or: Where are the Fact Checkers? Mortgage Companies Settle Suits on Military Foreclosures Oregon Judge Denies Foreclosure, Challenges MERS »View More Around the Web Video News Summer Relief or Pain at the Pump Home Sales Still Stalled Fed QE3 Can `Definitely Be on the Table' »View More Video News Today's Comments "My lenders are already acting as if they are over capacity. They are not making promised turn times and are extending them out. They seem to be very quick..." "It will be interesting to see if volume increases!" "Will be interesting to see if lenders continue to pass along pricing improvements as volume increases, or if they pocket market increases to manage pipeline..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Hi everyone, I need advice from you guys on how the interest rates work. I'm going with Wells Fargo and I've locked in my interest rate at 4.25..." "I need a lender that will do USDA down to 620. We are a lender but have overlays with a minimum of 640 so it would have to be a brokered deal." "May 26, 2011 I am writing to you today on behalf of the Texas Association of Mortgage Brokers, doing business as the Texas Association of Mortgage Professionals..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.64 0.01 15YR 3.94 0.00 FHA30YR 4.31 -0.07 Jumbo30YR 5.10 -0.01 5/1ARM 3.25 -0.01 MBS Quotes FNMA 3.5 96-19 -0-10 FNMA 4.0 100-19 -0-08 FNMA 4.5 103-24 -0-05 FNMA 5.0 106-11 -0-02 Treasuries 2 YR 0.4804 -0.0076 3 YR 0.7990 -0.0140 5 YR 1.7189 -0.0081 7 YR 2.3969 0.0059 10 YR 3.0717 0.0127 30 YR 4.2415 0.0185 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Mortgage Rates: Tear Down This Wall?

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May 26, 2011 5:14PM Mortgage Rates: Tear Down This Wall? "The Wall" absorbed a direct hit today. A sizeable crack is now visible in the metaphorical structure that stands in the way of lower mortgage rates. And while the damages inflicted are not yet viewed as irreparable, "The Wall" is indeed on the verge of toppling over. This is an encouraging development for intermediate to long-term rate watchers. Intraday price appreciations in the secondary mortgage market were large enough to warrant multiple reprices for the better from lenders. As a result we... May 26, 2011 3:11PM Foreclosures Sell at 27% Discount. Distress Focused in Few States Foreclosed properties continued to impact the home sales market during the first quarter of 2011 according to a report released Thursday by RealtyTrac. Sales of bank-owned homes or those in some state of foreclosure represented 28 percent of all residential sales in the first quarter of 2011, up modestly from 27 percent of all sales in the fourth quarter of 2010 and the highest percentage of distressed sales since the first quarter of 2010, when 29 percent of all sales were foreclosed properties... Simplifying Disclosures: GFE and TIL Combined by CFPB Mortgage Reforms Threaten "Tsunami" of Burdens on Industry; Revisiting Rural Housing; Feedback Needed on New Disclosures No Shortage of Demand for U.S. Debt. Inventory Needs Obvious Republicans Aim to Raise FHA Down Payment Requirement MBS RECAP: Aggressive Reprices Reported Loan Demand Lags Interest Rate Rally. Several Reasons Cited View: Front Page | Headline Viewer Micro News 4:02 PM: Friday Brings More Econ Data and an Early Close 2:56 PM: Forging New Annual Highs. Positive Reprices Continue 12:26 PM: IMF threat to withhold Greek aid spooks markets 12:19 PM: MBS Holding Annual Highs. 7yr Auction Approaches 9:38 AM: Foreclosures Account for 28 Percent of Q1 2011 Sales 8:51 AM: ECON: GDP Unrevised at +1.8 pct. 8:46 AM: ECON: First Decline for Corporate Profits Since 2008 8:37 AM: ECON: Jobless Claims Slightly Higher Than Expected »View All Micro News Around the Web With Buyers Scarce, Investors Rule Housing Market Ohio, Illinois have steepest discounts on foreclosure prices NAHB: Housing Affordability Hits 20-Year High Frustrated with your mortgage servicer? Write a letter Real Estate News: States Expand Foreclosure Probes New REIT Values Private Backing »View More Around the Web Video News Daily Realty Check Gold vs. Housing: What's the Better Investment? Jobless Claims & GDP Revision Up »View More Video News Today's Comments "Rob, Spot on. In our quest to launch our new mortgage product to help our industry, dealing with many politicians has been laughable at best. If they understand..." "Honestly, ever since the old GFE was eliminated, it's only made matters worse and confusing for all parties involved(lenders, brokers, consumers)...." "If we really want to launch a counter attack to this proposal we would be suggesting legislation to create a Resolution Trust entity to stabilize values..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "May 26, 2011 I am writing to you today on behalf of the Texas Association of Mortgage Brokers, doing business as the Texas Association of Mortgage Professionals..." "May 26, 2011 I am writing to you today on behalf of the Texas Association of Mortgage Brokers, doing business as the Texas Association of Mortgage Professionals..." "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Purchase Loan Amount: $900,000 Property Value: 206977,199,000 LTV: 75..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.63 -0.06 15YR 3.94 -0.04 FHA30YR 4.31 -0.07 Jumbo30YR 5.11 -0.07 5/1ARM 3.26 -0.04 MBS Quotes FNMA 3.5 96-29 0-25 FNMA 4.0 100-27 0-19 FNMA 4.5 103-29 0-13 FNMA 5.0 106-13 0-09 Treasuries 2 YR 0.4882 -0.0468 3 YR 0.8131 -0.0689 5 YR 1.7271 -0.0819 7 YR 2.3667 -0.0783 10 YR 3.0590 -0.0700 30 YR 4.2234 -0.0556 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031