Daily Newsletter: Freddie Mac Turns Corner to Full-Year Profitability; NY AG Investigating BofA MBS

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

30 Year Fixed 3.56%   -0.02 15 Year Fixed 2.89%   -0.02 10YR Treasury 1.85%   -0.0378 FNMA 30YR 3.5 105.78   +0.02 FNMA 15YR 2.5 105.28   +0.03 View Today's Rates

Friday March 1, 2013 MND NewsWire - 11:06AM Freddie Mac Turns Corner to Full-Year Profitability Freddie Mac's net income increased by 55 percent in the fourth quarter of 2012 primarily due to a decrease in newly delinquent loans and an improvement in home prices . The company ... MND NewsWire - 10:05AM NY Attorney General Reportedly Investigating BOA over Mortgage Securities Reuters is reporting that Bank of America (BOA) is the subject of yet another investigation. New York State Attorney General Eric Schneiderman is allegedly looking at the bank's purchase ... Voice of Housing - 11:13AM A Housing Riddle: Why did the Homeowner Stop Making their Mortgage Payments? 0 false 18 pt 18 pt 0 0 false false false Here is a riddle: Why did the homeowner stop making their mortgage payments? Because they ran out of money. The riddle does not end with “because ... Mortgage Rate Watch - 2:48PM Mortgage Rates Drift Down To One Month Lows Mortgage rates edged gently lower on Friday , bring to a close their best week since mid-January. The catalyst for the relatively more positive week of rate movement--the Italian election ... FHA and the Sequester; A Note in Defense of Builder Affiliate Relationships Housing a Bright Spot in Fed's Latest Household Debt and Credit Report MBS RECAP: Flat And Uneventful, NFP and ECB Next Week MBA, NAR Outline Importance of FHA Regulators Outline $9.3B Foreclosure Compensation Plan for 13 Servicers REO, Short Sales were 43 Percent of 2012 Market Is the Mortgage Interest Deduction Impeding Home Ownership? Latest Video Barclays US Investment Head on Washington Chaos Santelli Pleads, 'Come on Guys, Work For the Country!' NY Fed Report on Household Debt & Credit More News from 'Around the Web' www.aei.org - 3:25PM FHA: Reform or illusion of reform Reuters - 4:14PM In AIG suit, NY Fed reveals details of crisis-era BofA settlement Realtor.Org - 3:22PM FHA: Unsung Hero of the Recovery CNBC - 3:21PM Home Buyers Are Back, Where Are the Houses? Bloomberg - 11:11AM BofA Settlement Process 'Seriously Flawed,' Report Says Business Week - 11:11AM Construction Spending in US Unexpectedly Fell in January OCC - 11:07AM OCC Releases CRA Evaluations for 34 National Banks and Federal Savings Associations Market Watch - 9:07AM The return of interest-only mortgages www.cfpbmonitor.com - 8:42AM Does CFPB have Qualified Mortgage Remorse? Bloomberg - 12:00AM BofA Probed by New York Over Mortgage Securities Reuters - 11:58PM Fed's Evans sees economy achieving "escape velocity" by 2014 Business Week - 9:36PM Bair Says Regulators Lack Spine to Name Systemic Firms WSJ - 9:34PM Rep. Waters: Regulator Needs Plan on ‘Forced' Homeowners Insurance The Basis Point - 8:04PM Why The Jumbo Mortgage Market Is So Hot Bloomberg - 7:49PM Minnesota Counties Sue MERS, JPMorgan Over Filing Fees Today's Comments Pipeline Press - 11:30AM "I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't and that this practice hasn't been going on for years with new construction......" Pipeline Press - 9:05PM "In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they stand. If the best argument is that they value a strong pre-approval....the model is doomed...." Pipeline Press - 4:21PM "I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers - and I do mean coercing - to use an affiliated lender has to be addressed. I can provide whatever any builder would like to have as far as a pre-approval..." MBS Live Chat - 12:13PM "mbs didnt sell off as much as treasuries did when they went back in the 1.90s..." MBS Live Chat - 12:05PM "Sorry if this has already been addressed, but any feeling for why MBS seems to be underperforming Treasuries?....or am I missing something?..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.56% -0.02 15 Yr FRM 2.89% -0.02 FHA 30 Year Fixed 3.29% -0.02 Jumbo 30 Year Fixed 3.74% -0.02 5/1 Yr ARM 3.00% -0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.78% 0.76 +0.08 30 Yr. Fixed 3.53% 1.11 +0.06 MBA ** 30 Yr. Fixed 3.77% 0.48 -0.01 15 Yr. Fixed 3.03% 0.34 +0.00 30 Yr. Jumbo 3.93% 0.37 -0.01 30 Yr. FHA 3.54% 0.41 +0.00 5/1 ARM 2.65% 0.36 -0.01 Freddie Mac ** 30 Yr. Fixed 3.51% 0.80 -0.05 15 Yr. Fixed 2.76% 0.80 -0.01 1 Yr. ARM 2.64% 0.40 -0.01 5/1 Yr. ARM 2.61% 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 3.0 103.63 +0.08 30YR FNMA 3.5 105.78 +0.02 30YR GNMA 3.0 104.92 +0.09 30YR GNMA 3.5 107.81 +0.03 15YR FNMA 3.0 105.28 +0.03 15YR FNMA 2.5 103.92 +0.09 Treasuries Yield Change 2 YR 0.2382% -0.0040 5 YR 0.7452% -0.0224 10 YR 1.8464% -0.0378 30 YR 3.0569% -0.0375 Prices as of: 3/1/2013 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

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. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.