Daily Newsletter: GSE Reform's Dire Consequences for Renters; Principal Reduction and Fiscal Cliff

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30 Year Fixed 3.38%   +0.01 15 Year Fixed 2.75%   +0.00 10YR Treasury 1.65%   +0.0360 FNMA 30YR 3.5 106.58   -0.27 FNMA 15YR 2.5 105.44   -0.08 View Today's Rates

Tuesday December 11, 2012 MND NewsWire - 4:19PM GSE Reform Could Have Dire Unintended Consequences for Renters Rental housing is a growing crisis according to the Center for American Progress, but policymakers have made it "an afterthought in the debate over the future of mortgage giants Fannie ... MND NewsWire - 2:54PM House Democrats Push for Principal Reduction in Fiscal Cliff Negotiations Nineteen members of the House of Representatives sent a letter today to President Obama and leaders of both parties in the House and Senate urging the expansion of assistance to homeowners ... Pipeline Press - 4:33PM IndyMac Back in the News; First Time Homebuyer Comments; Ocwen's Servicing Audit Not Stellar IndyMac is back in the news. Last week a jury ordered three former IndyMac loan officers (in the homebuilder division) to pay $168 million to the FDIC for negligently approving 23 loans ... Mortgage Rate Watch - 2:00PM Mortgage Rates Unchanged To Slightly Higher Before Fed Announcement Mortgage rates are little changed from Monday. Some lenders' rate sheets are slightly improved versus yesterday's, but a majority offered just slightly weaker rates. Today's political ... MBS MID-DAY: Holding Ground After Digesting Morning Weakness FHFA's DeMarco to be Replaced Early Next Year: WSJ The Latest on MBA and LO Wage Lawsuit; FDIC Institutions Making Some Coin; Basic QC Manual Housing Survey Reports Significant Increase Seller Optimism Watchdog Calls for Tighter Leash on Fannie, Freddie Compensation More Ideas for Rebuilding the Secondary Mortgage Market Think Tank Recommends Reducing Mortgage Interest Deduction Latest Video RBC: More Housing Upside in 2013 How Will the Fed Replace Operation Twist? Santelli Exchange: Faux Rich Again in the Ditch More News from 'Around the Web' CNBC - 2:56PM 'Catastrophic' Possibility for Housing Recovery: Analyst CNBC - 2:09PM Housing Affordability Begins to Slide CNBC - 12:53PM Boehner Says Obama Needs to Answer GOP on Spending Cuts www.latimes.com - 12:32PM Wells Fargo not modifying mortgages as required, lawsuit says www.treasury.gov - 4:17PM New PSAs Direct Struggling Homeowners to Free Mortgage Help CFPB - 2:58PM CFPB begins sharing consumer complaint data with state agencies Market Watch - 7:48AM TARP program now more than 90% repaid: U.S. WSJ - 11:46PM Obama Housing Official to Join Wells Fargo Today's Comments MND NewsWire - 3:23PM "Let's see, we're at the cusp of a fiscal meltdown, with uncertainty on future tax hikes and government austerity measures, not to mention the debt ceiling debate (which hasn't even entered the discussion yet), and now we want to throw principal reductions into it as well? First and foremost, principal..." MBS Live Chat - 11:37AM "but we might hear it here: RTRS- U.S. HOUSE SPEAKER BOEHNER EXPECTED TO GIVE UPDATE ON FISCAL CLIFF TALKS AT APPROX. 12:00 NOON ET ON HOUSE FLOOR..." MBS Live Chat - 2:43PM "RTRS- TOP U.S. SENATE DEMOCRAT HARRY REID SAYS IT WILL BE HARD TO REACH A FISCAL CLIFF DEAL BY CHRISTMAS..." Recent Q & A "if you have an arrangement to pay a tax bill can you still transfer the property to a spouse" "Can I refi a conventional loan to an FHA to lower interest rate? Current lender will not do it!" "HELOC on a property" Today's Rates Best Execution Rate Change 30 Yr FRM 3.38% +0.01 15 Yr FRM 2.75% +0.00 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.58% +0.01 5/1 Yr ARM 3.01% +0.00 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.91% 0.89 -0.12 30 Yr. Fixed 3.62% 1.22 -0.14 MBA ** 30 Yr. Fixed 3.52% 0.41 -0.01 15 Yr. Fixed 2.86% 0.27 -0.03 30 Yr. Jumbo 3.79% 0.32 +0.04 30 Yr. FHA 3.34% 0.62 -0.02 5/1 ARM 2.62% 0.40 +0.02 Freddie Mac ** 30 Yr. Fixed 3.34% 0.70 +0.02 15 Yr. Fixed 2.67% 0.60 +0.03 1 Yr. ARM 2.55% 0.40 -0.01 5/1 Yr. ARM 2.69% 0.60 -0.03 Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. Secondary Markets MBS Price Change 30YR FNMA 3.0 104.92 -0.33 30YR FNMA 3.5 106.58 -0.27 30YR GNMA 3.0 106.34 -0.30 30YR GNMA 3.5 108.56 -0.17 15YR FNMA 3.0 105.44 -0.08 15YR FNMA 2.5 104.44 -0.16 Treasuries Yield Change 2 YR 0.2420% +0.0039 5 YR 0.6362% +0.0176 10 YR 1.6541% +0.0360 30 YR 2.8403% +0.0400 Prices as of: 12/11/2012 4:30PM EST Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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