| May 1, 2012 4:55PM Two Democratic members of the House Committee on Oversight and Government Reform fired another salvo in their continuing battle with Federal Housing Finance Agency Acting Director Edward J. DeMarco over the value of principal reduction in modifying GSE loans and, within hours DeMarco fired back. Representatives Elijah Cummings and John F. Tierney say they have obtained a "wide range of internal documents" from Fannie Mae that contradict DeMarco's congressional testimony on the matter. At issue is... May 1, 2012 2:53PM Just before reaching fresh multi-month lows, Mortgages Rates rose slightly today after a stronger than expected read on the manufacturing sector. Overall, rates continue to operate at the same "best-execution" level of 3.875% and today's deterioration would instead be seen in the form of slightly higher borrowing costs (or decreased lender credit toward closing costs, depending on your scenario). Keep in mind that "best-execution" as we calculate it, connotes the no-closing-cost rate for the best...
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