Daily Newsletter: JP Morgan Sued Over $3.6B in MBS; Servicing Retained or Released?

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30 Year Fixed 3.40%   +0.01 15 Year Fixed 2.75%   +0.00 10YR Treasury 1.78%   +0.0711 FNMA 30YR 3.5 106.20   -0.25 FNMA 15YR 2.5 105.36   -0.09 View Today's Rates

Monday December 17, 2012 MND NewsWire - 1:52PM JP Morgan Sued Over $3.6B of Bear Stearns MBS The National Credit Union Administration (NCUA) has brought suit against J.P. Morgan Securities and Bear, Stern and Company over the failure of four corporate credit unions. The suit ... Pipeline Press - 9:22AM Servicing Retained or Released?; The CFPB and Credit Reports; CFPB's Guidance on Policies and Procedures Manual A successful mortgage CEO once told me, "Your ego isn't always your amigo. It's amazing what you can accomplish when you don't care who receives the credit." Speaking of credit, although ... Pipeline Press - 9:28AM The CFPB on QM and Auto Financing; ALTA on Risk Policy and Closing Policies Remember when pictures of your home weren't on the internet for everyone to see? Those days are gone, and in fact now our residences are in snow globes for the holidays. (Thanks Mike ... Mortgage Rate Watch - 2:24PM Mortgage Rates Slightly Higher To Begin The Week Mortgage rates moved slightly higher to begin the last full week of 2012 after fighting back against recent weakness on Friday. Bond markets did little to react to economic data or ... MBS RECAP: Dragged Down By Treasury Sell-Off, Stock Rally Insurers, Servicers, Community Housing Groups Come Together to Aid Hurricane Sandy Victims The Week Ahead: Extra Economic Data and Fiscal Cliff Headline Potential Bank of America CEO: Private Investment Returning To Mortgage Market Is A Certainty Federal Home Loan Banks in Correspondent Lending; MBA Confirms Average Lenders are Making Big Bucks What Would Happen if the Fed Stopped Buying MBS?; Is Triad History?; Wells Snags a New SVP Mozilo Speaks up for Countrywide in MBIA Lawsuit: "We were a world-class company..." Servicers Step up Foreclosure Activity in Judicial States Latest Video Lacker on Fed's Controversial Move What Home Buyers Want Are We In a Bond Bubble? More News from 'Around the Web' Bloomberg - 2:55PM Fed Stresses Bank Governance in Letter to Boards, Supervisors CNBC - 4:21PM Lacker's Interview Should Boost Rate Doves CNBC - 12:25PM You May Regret Not Buying a House: Hovnanian CEO Bloomberg - 11:55AM Smart Money Is on Geithner to Replace Bernanke CNBC - 11:40AM Renewed Optimism in Housing as Buyers Look to Upsize CNBC - 11:28AM Fed's Lacker: Jobless Rate Won't Hit 6.5% for Three Years CNBC - 11:24AM Boehner Tax: Big Leap for GOP, Small Step for Revenue Market Watch - 9:33AM Foreign net Treasury purchases rebound in Oct. www.freddiemac.com - 9:32AM Freddie Mac: New Selling Representation and Warranty Framework Takes Effect in the New Year The Big Picture - 8:29AM MBIA's Presentation on Countrywide's Fraud Mortgage Crisis Watch - 11:39PM Gotcha! Originators Beware of Baseless Claims Bloomberg - 11:35PM Bank of America Sued by DZ Bank Over Mortgage-Backed Securities Today's Comments MBS Live Chat - 12:21PM "anyone have any suggestions on tracking down a payoff on a judgment? It's showing on credit, but company that filed it sold to another company. That company sold to another company and they are sayign they don;t have any information on it since it was over 5 years ago. She will pay it, but she can;t..." MBS Live Chat - 12:25PM "ask the original company to sign a satisfaction and see what happens..." MBS Live Chat - 12:26PM "Chip.... in Pa. if the judgement is over 5 years old and hasn't been updated, then it becomes a non-collectable judgment. Ck w/ the county and see if that applies in your state...." MND NewsWire - 12:41AM "Think about what he said: "that we knew the borrower could not pay." The operative word is KNEW. Did they know without a doubt that any given borrower, loan agent or both was telling the truth about stated income loans? Of course they probably 'suspected' but didnt KNOW. Angelo cleverly slithered around..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.40% +0.01 15 Yr FRM 2.75% +0.00 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.60% +0.01 5/1 Yr ARM 2.98% +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 3.47% 0.36 -0.05 15 Yr. Fixed 2.85% 0.26 -0.01 30 Yr. Jumbo 3.77% 0.35 -0.02 30 Yr. FHA 3.32% 0.51 -0.02 5/1 ARM 2.63% 0.34 +0.01 Freddie Mac ** 30 Yr. Fixed 3.32% 0.70 -0.02 15 Yr. Fixed 2.66% 0.60 -0.01 1 Yr. ARM 2.53% 0.50 -0.02 5/1 Yr. ARM 2.70% 0.60 +0.01 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 3.0 104.38 -0.31 30YR FNMA 3.5 106.20 -0.25 30YR GNMA 3.0 105.86 -0.28 30YR GNMA 3.5 108.25 -0.22 15YR FNMA 3.0 105.36 -0.09 15YR FNMA 2.5 104.27 -0.14 Treasuries Yield Change 2 YR 0.2540% +0.0160 5 YR 0.7345% +0.0436 10 YR 1.7752% +0.0711 30 YR 2.9473% +0.0801 Prices as of: 12/17/2012 4:31PM 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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