Home Loans Mortgage: FHFA Weighs in on Eminent Domain Proposals; Mortgage Rates Pull Back

Wednesday, August 8, 2012

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Aug 8, 2012 3:28PM

FHFA Weighs in on Eminent Domain Proposals

The Federal Housing Finance Agency (FHFA) will post a notice in the Federal Register on Thursday announcing that it was open to input from any persons with views on the subject of eminent domain as a mechanism to restructure performing loans . The agency thereby entered the growing controversy around the subject. As background, in June the Board of Supervisors in San Bernardino County California announced a Homeowner Protection Program in which they proposed to use their power of eminent domain to...

Aug 8, 2012 2:59PM

Mortgage Rates Pull Back Before Rising Past Recent Highs

Mortgage Rates held steady to slightly improved today after a disconcerting rise to the highest levels in a month yesterday. That said, today's rate offerings are not much better, and some lenders are even slightly worse, but on average the Best-Execution Rate for 30yr Fixed, Conventional loans fell just under 0.02%, keeping the rounded average at 3.5% among the best-priced lenders and 3.625% for others. (Read More: What is A Best-Execution Mortgage Rate? ) Today's most significant event for mortgage...

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Today's Comments

	"Here's the POINT. "total pricing transparency occurred"...what's the big deal about educating the borrower and disclosing everything..."
	"Hmm, Thanks for the comments from Brent, Vic and Bob. It's helpful to hear from the guys 'in the trenches'. Over the last 10 days or so, my..."
	"Peter--glad to see all the passion, but the free market has to have some built in consumer protection to protect against the collateral damage speculative..."