BofA Looks to Exit Correspondent, What Next?

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Aug 31, 2011 9:12AM BofA Looks to Exit Correspondent, What Next? Mortgage banking and real estate are typically not physically hazardous professions. In case you're ever tempted to throw down your pen & pencil and pick up a shovel to earn a living, check these out . (I especially like the guy in the pink shirt.) Last night news came through the Wall Street Journal that " Bank of America Corp. intends to sell its correspondent mortgage business , as the troubled lender looks to narrow its focus and bolster its financial strength...Employees could be notified... Aug 31, 2011 3:08PM What's Causing the Afternoon Weakness in MBS? Very much a burning question this afternoon, but there are no profoundly alarming answers. Some are short term and ethereal, dealing with things like today's headlines, month end buying (or lack thereof), after-hours illiquidity, and others. But we already put out a reprice alert for temporary factors (twice), so we're going to focus on the big picture. In fact, focusing on the big picture is pretty much the only thing that makes much sense right now considering our nearness to historical levels... Mortgage Rates: Volatility Strikes Back! Fed Reports Lending Standards, Mortgage Demand Largely Unchanged. Loan Demand: Purchase Volume Remains Near 15-Year Low MBS MID-DAY: Mostly Sideways to Slightly Worse The Day Ahead: Markets Steady Before ADP Jobs, Chicago PMI, Factory Orders NMLS Q2 Activity Report Shows 106,881 Unique Individual LO's View: Front Page | Headline Viewer Micro News 4:11 PM: Treasury: Fifty Additional Community Banks Receive $767M To Aid Small Business / Jobs 3:08 PM: New MBS Commentary Post 3:04 PM: Fed: Banking Agencies Urge Responsible Lending 2:51 PM: Bank of America Issues Statement in Response to Media Reports on Mortgage Business 2:30 PM: Renewed Risks of Reprices for the Worse 1:58 PM: Volatility Decreasing. MBS Prices Leaking Lower 11:56 AM: AIA: Urge President, Congress to Adopt Measures to Boost Design / Construction Work 10:41 AM: MICA: Private Mortgage Insurance Activity Report »View All Micro News Around the Web Financial Services Committee Faces Busy Agenda in September CoreLogic: Home Price Index increased 0.8% in July Avoiding loan scams after a natural disaster Will Refinancing Stimulate the Economy? Students Offer a Historic Take on Housing's Future REALTORS® Report That Somewhat Over 30 Percent Of Buyers Make Downpayments In Excess Of 20 Percent »View More Around the Web Video News Realty Check: Weekly Mortgage Apps Plunge ADP Numbers: Employment Up 91,000 Karl Case Says U.S. Housing Market `Dead in the Water' »View More Video News Today's Comments "Well said Ken. There may have been suboridnation issues early on. But i have not had a problem with any ext sub in the last few years and have done hundreds..." "HARP or a HARP like product really needs to be opened to performing non-agency loans, as mentioned. well qualfied borrowers that cannot refinance due to..." "As long as we're brainstorming here, let's make all MI transferrable to a new HARP servicer as an incentive for servicers to actually, well, service..." »View More Comments Today's Q&A "Who can I talk to about a property that has gone back to the..." "I have a Seperation Agreement form signed by myself and my ex..." "I am interested in buying a home that was listed a few years..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.32 0.10 15YR 3.63 0.01 FHA30YR 4.11 0.07 Jumbo30YR 4.75 0.04 5/1ARM 3.31 0.06 MBS Quotes FNMA 3.5 100-22 -0-09 FNMA 4.0 103-23 -0-06 FNMA 4.5 105-24 -0-02 FNMA 5.0 107-24 0-00 Treasuries 2 YR 0.1995 0.0035 3 YR 0.3218 0.0048 5 YR 0.9615 0.0325 7 YR 1.5639 0.0499 10 YR 2.2252 0.0492 30 YR 3.6076 0.0836 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application -9.64% Mortgage Refinance -12.18% Mortgage Purchase 0.89% S&P/Case Shiller 1.11% FHFA Home Price 0.93% New Home Sales -0.67% 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

NMLS Q2 Activity Report Shows 106,881 Unique Individual LO's

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Aug 29, 2011 2:31PM NMLS Q2 Activity Report Shows 106,881 Unique Individual LO's The Nationwide Mortgage Licensing System and Registry ( NMLS ) has released information on licensed entities as of the first quarter of 2011(March 31) and a limited update on licensees at the end of the second quarter (June 30.) The Nationwide Mortgage Licensing System (NMLS) is the legal system of record for licensing in all participating states, the District of Columbia and U.S. Territories. This appears to be the first set of quarterly reports issued by the system which is in its fourth year of... Aug 30, 2011 11:06AM The Issues: Another Government Refinance Program? The New York Times is reporting that the government is seriously contemplating a broad-based refinancing of mortgages guaranteed by the two GSEs , Fannie Mae and Freddie Mac, in an effort to reduce payments by those borrowers who currently cannot refinance either due to negative equity in their homes or due to their own credit constraints. This idea was originally raised in 2008 as the housing crisis got underway and has been viewed by its proponents as a way for the government to provide a stimulus... Mortgage Rates: Participation Up, Rates Down Home Prices Seasonally Higher: "Showed Mixed Signals" BofA Settlement in Question; NMLS's Interesting Originator Stats; Impact of GNMA's Mod Rule MBS RECAP: 8/30/2011 After Two Strong Months Pending Home Sales Fall 1.3% in July The Day Ahead: Markets Brace for Home Prices, Consumer Confidence View: Front Page | Headline Viewer Micro News 3:59 PM: Lots of Economic Data and Month-End Tomorrow 3:14 PM: Fed: Minutes of the Federal Open Market Committee 2:58 PM: Idaho Dept. of Finance Issues Warnings of Modification Scams Targeting Spanish 2:39 PM: Potential Positive Reprices After Markedly More Downbeat FOMC Minutes 1:10 PM: Fed's Kocherlakota Drops Opposition to Recent FOMC Decision 1:04 PM: PIMCO Says Betting Against US Debt was a Mistake 11:17 AM: Fed: Senoir Loan Officer Opinion Survey Released 11:08 AM: Fed: Second Quarter Banking Legislation & Policy »View All Micro News Around the Web Students Offer a Historic Take on Housing's Future REALTORS® Report That Somewhat Over 30 Percent Of Buyers Make Downpayments In Excess Of 20 Percent FDIC v. BOA: When Government Intervention Gets Messy The Two-Tier Housing Market Unemployed Get More Time To Apply For Loan Program A Curious Letter to a Current Mortgage Customer »View More Around the Web Video News Realty Check: Home Prices Up FOMC Announcement: A Divided Fed Banking Jobs Could Soon Be Swept Away »View More Video News Today's Comments "Rob, Ok- I see where there can be an issue with the 'really upside down" borrower but what about the guy who deosn't qualify because of DTI..." "Rob...obviously no one wants to eat the $65K. MBS investors certainly don't want to take the haircut (and don't deserve to) and if Uncle Sam eats..." "Gary, this all depends on whether they allow the "short refi" which entails removing the negative equity. If I'm not mistaken the last CoreLogic..." »View More Comments Today's Q&A "Who can I talk to about a property that has gone back to the..." "I have a Seperation Agreement form signed by myself and my ex..." "I am interested in buying a home that was listed a few years..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.22 -0.02 15YR 3.62 -0.01 FHA30YR 4.04 -0.03 Jumbo30YR 4.71 -0.03 5/1ARM 3.25 -0.03 MBS Quotes FNMA 3.5 101-00 0-13 FNMA 4.0 103-29 0-12 FNMA 4.5 105-26 0-11 FNMA 5.0 107-24 0-11 Treasuries 2 YR 0.1955 -0.0115 3 YR 0.3167 -0.0263 5 YR 0.9311 -0.0629 7 YR 1.5189 -0.0761 10 YR 2.1793 -0.0847 30 YR 3.5275 -0.0735 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. S&P/Case Shiller 1.11% Mortgage Application -2.41% Mortgage Refinance -1.66% Mortgage Purchase -5.73% FHFA Home Price 0.93% New Home Sales -0.67% 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

Feedback on Potential Housing Bailout Programs

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Aug 26, 2011 10:50AM Feedback on Potential Housing Bailout Programs Don't you always wonder how much the guys standing at the stoplights take home, tax-free? It is a little farcical, but: HowMuchTaxFree? A doctor examining a woman who had been rushed to the Emergency Room took the husband aside and said, "I don't like the looks of your wife at all." "Me neither doc," said the husband. "But she's a great cook and really good with the kids." Life often involves dealing with misunderstandings and confusion, and the rumors surrounding a mass refi plan certainly fit into... Aug 26, 2011 5:13PM Mortgage Rates: Moment of Reprieve After setting new lows last Thursday, mortgage rates drifted higher this week...that is until today when consumer borrowing costs improved sharply. This can be seen in the chart below.... If the note rate line is moving up, the closing costs associated with it are on the rise. If the note rate line is moving down, the closing costs associated with it are falling. The lowest home loan borrowing costs of our lifetime were available last Thursday. They didn't stick around long though, mortgage rates... RealtyTrac: Foreclosure Discount Higher, Short Sales Jump Jackson Hole: No Bernanke Surprises National Delinquency Survey: Must Stop the Bleeding MBA Forecast: Lowest Loan Production Since 1997 MBS RECAP: Rally Holds New Refinance Program Unlikely. What About a 21st Century Homestead Act? View: Front Page | Headline Viewer Micro News 4:00 PM: September and NFP in the Week Ahead 2:37 PM: Benchmarks Still Holding, but Some Reprices for Worse Reported 10:04 AM: Fed Prepared to "Use Tools," But No QE3 Hints 9:59 AM: ECON: Consumer Sentiment Sinks in August 9:27 AM: The Obama Administration Can't Refi Your Mortgage on Its Own 8:54 AM: ECON: Corporate Profits Rose 4.1 Percent in Second Quarter 8:38 AM: ECON: GDP Revised Down to 1 Percent in 2nd Quarter 4:42 PM: Foreign Central Banks' US Debt Holdings Fall - Fed »View All Micro News Around the Web How JPMorgan Racked Up $88 Million in Federal Fines Possible Refinance Plans Unsettle Mortgage Bond Market QRM Means Higher Rates in Uneasy Market Best Places to Live in your state Foreclosure settlement: Spat among the states Bernanke to Markets: Stay Tuned »View More Around the Web Video News Bernanke: No News Major Storm Takes Aim at East Coast Hoenig Says Focus Should Move to Fixing U.S. Fiscal Woes »View More Video News Today's Comments "Rob, Ok- I see where there can be an issue with the 'really upside down" borrower but what about the guy who deosn't qualify because of DTI..." "Rob...obviously no one wants to eat the $65K. MBS investors certainly don't want to take the haircut (and don't deserve to) and if Uncle Sam eats..." "Gary, this all depends on whether they allow the "short refi" which entails removing the negative equity. If I'm not mistaken the last CoreLogic..." »View More Comments Today's Q&A "if a relator gets a contract to sell a house and the people selling..." "I'm selling my home, listed by a realtor, I pay my Realtor..." "What legal action can be taken if I walk away from my home?" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.11 -0.10 15YR 3.56 -0.03 FHA30YR 4.01 -0.07 Jumbo30YR 4.67 -0.05 5/1ARM 3.23 0.00 MBS Quotes FNMA 3.5 100-25 -0-01 FNMA 4.0 103-26 0-05 FNMA 4.5 105-16 0-02 FNMA 5.0 107-14 0-09 Treasuries 2 YR 0.1955 -0.0155 3 YR 0.3249 -0.0371 5 YR 0.9407 -0.0543 7 YR 1.5307 -0.0423 10 YR 2.1899 -0.0441 30 YR 3.5391 -0.0669 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application -2.41% Mortgage Refinance -1.66% Mortgage Purchase -5.73% FHFA Home Price 0.93% New Home Sales -0.67% Existing Home -0.80% 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