Wednesday, November 9, 2011

GSE Executive Pay Cuts; Ally's ResCap Bankruptcy?

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Nov 9, 2011 3:38PM

House Set to Vote on GSE Pay Cuts

The House Financial Services Committee is set to vote on the suspension of compensation packages of top executives at the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae. Under HR 1221, The Equity in Government Compensation Act of 2011, top executives would have their compensation set in accordance with rates of pay for senior employees in the Executive Branch of the Federal Government. Other employees of Fannie and Freddie would be paid according to the government's General...

Nov 9, 2011 10:04AM

Ally's ResCap to Declare Bankruptcy? CFPB Kicking Into Gear; Fannie Loses $5B

We have fifteen days until Thanksgiving, first celebrated in the fall of 1621 when the Pilgrims held a three-day feast to celebrate a bountiful harvest. But it did not become a national holiday until 1863 when President Abraham Lincoln proclaimed the last Thursday of November as a national day of thanksgiving. Later, President Franklin Roosevelt clarified that Thanksgiving should always be celebrated on the fourth Thursday of the month to encourage earlier holiday shopping - very crafty. The USDA...


Micro News

4:00 PM:

Last Auction, More Econ, More Waiting on EU Headlines

2:35 PM:

Potential Reprices For The Better as MBS Approach Highs

1:15 PM:

Bond Markets Battle Back Following Weak 10yr Auction

12:45 PM:

10yr Auction Preview. MBS Improve Slightly From Recent Lows

12:05 PM:

Ginne Mae Reports "Best Year Ever"

11:35 AM:

Italy Woes Signal Dangerous Phase in Crisis

11:14 AM:

MBS at Lows. Slight Negative Reprice Risk for Early Rate Sheets

10:23 AM:

Why Are MBS Underperforming Treasuries This AM?

Around the Web

Video News

Ally's ResCap Said to Hire Centerview to Restructure

Fannie Wants Another $7.8B

Santelli's Political & Bond Outlook


Today's Comments

David Zilkha

"Hi Rob are you saying FHFA is taking active input on the HARP expansion and may change prior to the 15th(for ex the 09 seasoning)? Or just what the industry..."

Bobby Downey

"So it seems like there is a push in 3s lately.....are they just playing catch up, is it extremely low volume so easier to see movement, or does somebody..."

alan lacey

"My understanding is that Basel III is primarily going to apply tobanks and larger international financial institutions. So if it presenets that much of..."

Today's Q&A

"How is the CWA funded?"

"for how long is a contract on staging a home?"

"Does anyone have any experience with Mortgagebot and how it interfaces with MORvision?"