Daily Newsletter: Different Views on New FHFA Director Mel Watt; QM Changes from Big Lenders; Snowman Wisdom; Flat Rates

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30 Year Fixed 4.62%   -0.01 15 Year Fixed 3.64%   +0.00 10YR Treasury 2.96%   -0.0372 FNMA 30YR 3.5 99.64   +0.25 FNMA 15YR 2.5 102.20   +0.16 View Today's Rates

Monday January 6, 2014 MND NewsWire - 1:31PM Two Very Different Views on New FHFA Director Mel Watt Mel Watt has now officially taken the reins of the Federal Housing Finance Agency (FHFA), replacing Acting Director Edward J. DeMarco. He was sworn in earlier today to a five year term ... Pipeline Press - 11:18AM QM Changes from Lenders Big and Small; Accounting Firm Buys Compliance Firm; Mortgage Jobs and Opportunities As they say, "Good judgment comes from experience, and experience comes from...bad judgment." IT folks and the industry are certainly interested in the experience and judgment in the ... Community Commentary - 12:29PM Wisdom For Mortgage Industry from the Abominable Snowman This holiday season I was struck by similarities between the toothless abominable snowman in Rudolph the Red Nosed Reindeer and an ideology I have been promoting in blog posts on this ... Mortgage Rate Watch - 3:42PM Mortgage Rates Steady to Slightly Lower Mortgage rates were flat to slightly lower today. Activity continued to ramp up following the holidays in the financial markets most directly connected to lenders' rate sheets, but ... MBS Day Ahead: Back to Business For Bond Markets MBS MID-DAY: Near 2-Week Highs After Data New FHA Alternative Boosts Low Down-Payment Options MBA's Stevens: Mortgage Regulatory Confusion Hampers Housing Recovery CFPB Wants Your Thoughts on Mortgage Closing Process Latest Video Mortgage lending trends for 2014: LendingTree CEO Fed out of QE by year's end but low rates linger: El-Erian Senate poised to confirm Yellen More News from 'Around the Web' Market Watch - 4:49PM Outside the Box: Yield-hungry investors aren't ready to dump bonds CNBC - 4:48PM Is there something wrong with the stock market? National Housing Conference - 2:44PM Momentum for housing finance reform in 2014 Market Watch - 2:22PM Banks restrict loans to REITS, Fed says www.frbsf.org - 2:19PM Drivers of Mortgage Choices by Risky Borrowers CFPB - 2:18PM It's back to basics for the mortgage market in 2014 S&P/Case Shiller - 1:03PM S&P Ratings U.S. Housing And Residential Mortgage Finance: 2014 Outlook WSJ - 12:59PM 5 Things Yellen Will Face in Her Regulatory Agenda www.nytimes.com - 12:58PM A Senate Vote on Yellen to Lead Fed Is Expected This Evening FHFA - 12:52PM U.S. Representative Melvin L. Watt Sworn in as Director of Federal Housing Finance Agency House Financial Services - 10:59AM WSJ: A Good Time for Housing Reform www.gallup.com - 9:53AM U.S. Consumer Spending in December Highest Since 2008 Reuters - 9:49AM U.S. private sector activity growth slows slightly in December: Markit NAFCU - 9:48AM Watt takes FHFA director post today CNBC - 9:47AM US stocks begin higher ahead of factory, services data Reuters - 8:37AM Senate poised to confirm Janet Yellen as Fed chair Bloomberg - 8:35AM Watt at FHFA Seen as Enigma in Fannie-Freddie Market: Mortgages - Bloomberg Today's Comments MND NewsWire - 2:27PM "From all indications, Watt "gets" that housing is a vital piece of the US economy, and that private capital will not magically appear overnight to replace the GSE's. His confirmation is good news for all of us in the housing industry, imho...." MBS Live Chat - 12:15PM "for the FHA foreclosure, it will be 1 yr since the time FHA filed the claim, so make sure you look that up, also you will have to request a CAIVRS waiver to get their CAIVRS cleared..." MBS Live Chat - 12:15PM "Correct 1 year Joe and I had to prove that he had a drop in income with prior years tax return and W2...." MBS Live Chat - 12:38PM "Here's a chart for JA's Head and Shoulders question earlier. http://mndne.ws/1dqmaiq..." MBS Live Chat - 12:59PM "Hugh Page - "consequences of the unwind"...could you elaborate. We saw the consequences of mere talk of taper and the uncertainty; what is your prognosis?..." MBS Live Chat - 1:08PM "What I meant was it seems logical that rates are going higher, however, since this is a grand experiment the Fed has been implementing no one is certain how it all turns out. Potential consequences of the unwind are many and range from benign to potentially seriously problematic (and likely somewhere..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.62% -0.01 15 Yr FRM 3.64% +0.00 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.55% +0.00 5/1 Yr ARM 3.24% -0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.62% 1.06 +0.18 30 Yr. Fixed 4.49% 1.21 +0.22 MBA ** 30 Yr. Fixed 4.64% 0.41 +0.02 15 Yr. Fixed 3.74% 0.29 +0.08 30 Yr. Jumbo 4.63% 0.24 +0.02 30 Yr. FHA 4.29% 0.24 +0.04 5/1 ARM 3.26% 0.39 +0.06 Freddie Mac ** 30 Yr. Fixed 4.53% 0.80 +0.05 15 Yr. Fixed 3.55% 0.70 +0.03 1 Yr. ARM 2.56% 0.50 +0.00 5/1 Yr. ARM 3.05% 0.40 +0.05 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 95.20 +0.23 30YR FNMA 3.5 99.64 +0.25 30YR GNMA 3.0 96.81 +0.34 30YR GNMA 3.5 101.06 +0.30 15YR FNMA 3.0 102.20 +0.16 15YR FNMA 2.5 99.08 +0.14 Treasuries Yield Change 2 YR 0.3967% -0.0037 5 YR 1.6938% -0.0395 10 YR 2.9613% -0.0372 30 YR 3.9012% -0.0264 Prices as of: 1/6/2014 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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