Daily Newsletter: MBA's Stevens and Others Raise Concerns over PATH Proposal; 'Point Bank' Legality; Rates Edge Lower

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30 Year Fixed 4.41%   -0.03 15 Year Fixed 3.62%   -0.03 10YR Treasury 2.48%   -0.0519 FNMA 30YR 3.5 101.30   +0.47 FNMA 15YR 2.5 102.83   +0.31 View Today's Rates

Friday July 19, 2013 MND NewsWire - 11:49AM MBA's Stevens and Others Raise Concerns over PATH Proposal The House Financial Services Committee held a hearing Thursday on what is called "discussion legislation" titled A Legislative Proposal to Protect American Taxpayers and Homeowners ... Mortgage Rate Watch - 4:15PM Mortgage Rates End Week at Lows Mortgage rates were slightly lower this morning, but many lenders offered improved rate sheets as the day progressed, bringing average just barely below the lows of the week. The lows ... Pipeline Press - 10:16AM 'Point Bank' Legality; Wells, PNC, & Cole Taylor Lay-Offs and Transition; More on 3% Rule When my wife says, "I need to talk to you," every bad thing I've ever done flashes before my eyes. All humor aside, at some stage of the game, point banks are going to come back to ... Community Commentary - 5:36PM Obscure Fannie Program Benefits Parents, Students, and Disabled Children Buying a home for your college student or disabled adult child can be challenging. The same holds for acquiring a home for your elderly parent(s) to live in. Potential buyers find lenders ... MBS RECAP: Coasting Out At Highs; Nothing Happened Today Agencies Scuffle Over Best Way to Make Loans More Expensive Committee Approves Watt Nomination, Full Senate is Another Story Underwriting Standards May Have Loosened Too Quickly -BB&T CEO A Formula For The 3% Cap; More on ARM Resets; More on Cole Taylor Residential Construction Data Belies Recent Enthusiasm Latest Video The Save Act How to get a bigger mortgage Which banks are most vulnerable? More News from 'Around the Web' Bloomberg - 5:17PM Hensarling Predicts Committee Passage of Housing Reform Bill - Bloomberg www.treasury.gov - 5:16PM Fighting Foreclosures in Illinois Fannie Mae - 5:16PM News Release - Fannie Mae Prices $583 Million Multifamily ... WSJ - 3:17PM Congress Gives Bernanke A Hero's Send-Off The Huffington Post - 3:13PM Wall Street's Top Watchdog Is A Hot Mess: Study Bloomberg - 3:07PM Brixmor May Be Biggest Retail REIT Offering in 20 Years - Bloomberg CNBC - 3:04PM Greener home could get you a bigger mortgage House Financial Services - 2:40PM Committee to Consider Sustainable Housing Finance Reform Bill on Tuesday DataQuick - 12:36PM June California Home Sales Press Release www.aia.org - 12:34PM Architects Endorse "Design-Build" Reform Legislation www.aei.org - 10:24AM Conference call: Three housing reform bills - AEI experts on what will (and won't) work WSJ - 9:22AM Fast Cash for Home Buyers: Margin Loans The Atlantic - 9:12AM Tom Coburn Can't Decide If Inflation Is 'Really' Higher or Lower WSJ - 9:11AM The Rise of the Young Buyer Bloomberg - 8:57AM SunTrust Profit Rises 35% on Fewer Bad Loans, Investment Banking - Bloomberg Bloomberg - 8:52AM Ex-CFPB Leader Raj Date Rejoins Board of Peer-to-Peer Lender CNBC - 8:43AM Banks in the crosshairs: 'Tough new reforms' loom Bloomberg - 12:51AM Bernanke Says Too-Big-to-Fail Banks May Face New Capital Demands - Bloomberg Washington Post - 12:51AM Congress to Bernanke: So long, and thanks Reuters - 12:49AM Moody's: Detroit bankruptcy filing credit negative Today's Comments MND NewsWire - 10:03PM "Jason York...you hit the nail on the head. I am in total agreement about common sense being removed from the process. Frustrating to no end....as for HARP being loose....I have never understood why documenting income, assets, or appraisal should be required on any rate and term deal already owned by..." MBS Live Chat - 2:07PM "I don't care that you shop me, in fact I expect it. I guess I'm naive to think others will act do as I do and be courteous and professional about it...." MBS Live Chat - 2:15PM "Hugh, that whole topic quickly became part of my introductory conversation. Didn't prevent it completely, but almost. I didn't say I "expected" it, but that it would be understandable. I explained my business structure, how I got paid, how that related to rate sheets and markets, let them see a rate..." MBS Live Chat - 2:24PM "MG, well said and believe me I use MBS Live every day as a tool to enhance credibility (thank you btw). What's tough is when you feel you have that connection, delivered professionalism throughout, provided great value by helping them structure the deal in a way they weren't thinking about or created..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.41% -0.03 15 Yr FRM 3.62% -0.03 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.50% -0.03 5/1 Yr ARM 3.23% -0.03 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.80% 1.17 -0.23 30 Yr. Fixed 3.58% 1.37 -0.19 MBA ** 30 Yr. Fixed 4.68% 0.42 +0.00 15 Yr. Fixed 3.70% 0.38 -0.06 30 Yr. Jumbo 4.81% 0.40 -0.05 30 Yr. FHA 4.38% 0.22 +0.01 5/1 ARM 3.39% 0.37 -0.01 Freddie Mac ** 30 Yr. Fixed 4.37% 0.70 -0.14 15 Yr. Fixed 3.41% 0.70 -0.12 1 Yr. ARM 2.66% 0.40 +0.00 5/1 Yr. ARM 3.17% 0.60 -0.09 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 97.63 +0.58 30YR FNMA 3.5 101.30 +0.47 30YR GNMA 3.0 98.52 +0.42 30YR GNMA 3.5 102.23 +0.44 15YR FNMA 3.0 102.83 +0.31 15YR FNMA 2.5 100.03 +0.31 Treasuries Yield Change 2 YR 0.3023% -0.0083 5 YR 1.2980% -0.0344 10 YR 2.4821% -0.0519 30 YR 3.5594% -0.0744 Prices as of: 7/19/2013 4:28PM 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

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