Monday, April 2, 2012

CFPB Clarifies LO Compensation Rules; Mortgage Rates Improve

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Apr 2, 2012 3:39PM

CFPB Clarifies LO Compensation Rules Related to 401(k) and Profit-Sharing Plans

Acting in response to questions from mortgage originators and companies, the Consumer Finance Protection Bureau (CFPB) has issued a clarification on it rules governing loan originator compensation . The clarification specifically addresses employer contributions to qualified profit sharing, 401(k) Plans and employee stock ownership plans (collectively "Qualified Plans.") Under the Dodd-Frank Wall Street Reform and Consumer Protection Act the CFPB was given rulemaking authority for Regulation Z and...

Apr 2, 2012 2:23PM

Mortgage Rates Manage Slight Improvements To Begin The Week

After moving higher on Friday afternoon, Mortgages Rates eased back down to Thursday's levels, leaving them in slightly better shape than most of last week's offerings depending on the lender . Unlike Friday's abrupt, late-day weakness, today's underlying market movements for mortgages have been especially calm, prompting a few of the lenders in our survey to release improved rate sheets in the afternoon. Even so, the improvements are only minor, and leave the Conventional 30yr Fixed Best Execution...


Micro News

1:57 PM:

Sideways and Uneventful MBS Levels Persist. Volume Lower

11:30 AM:

Stronger Overall, MBS Outperforming Treasuries. Defensive Though

10:31 PM:

Mixed signals from China's factories in March

10:06 PM:

Fannie Mae February Monthly Summary

2:21 PM:

NY Fed Releases Next Month's Buying Schedule

2:09 PM:

You Will See Reprices For The Worse if You Have Not Already

1:43 PM:

Negative Reprice Risk Increases as MBS Hit New Lows

1:01 PM:

Don't Tune Out Just Yet.... Friday Afternoon Volatility

Around the Web

Video News

Whalen on Real Estate and Housing Market

Santelli's Midday Bond Report

Barclays's Bamford on Trends in Debt Market


Today's Comments

Jason Harris

"Frank....Cool...I was not aware of that. So how often when you run DU Refi Plus do the findings allow for no ratio? I ask because we have a subset of Fannie..."

Frank Ceizyk

"Just as an addendum to Jason's comment--the unlimited LTV and no ratio guidelines or "as the findings come" guidelines are also offered in..."

Jason Harris

"Bryan...this program allows unlimited LTV with no ratio guidelines on the retail front. In short...if a customer is harp eligible...as long as they have..."

Today's Q&A

"How can i make a swtor video?"

"Time of your Closing"

"Who Is Responsible for a Mortgage When a Spouse Dies Without a Will?"