Daily Newsletter: Wells/Chase Earnings Hit by Mortgage Biz; How QM Harms Homeowners; Rates Higher Today; Fannie/Freddie Trade Manipulation

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30 Year Fixed 4.50%   +0.03 15 Year Fixed 3.50%   +0.00 10YR Treasury 2.87%   +0.0443 FNMA 30YR 3.5 100.11   -0.52 FNMA 15YR 2.5 102.38   -0.39 View Today's Rates

Tuesday January 14, 2014 MND NewsWire - 4:04PM Lower Margins and Higher Expenses a Common Theme in Mega-Bank Earnings Wells Fargo Bank (WFB) is reporting record fourth quarter as well as fiscal year financial results while scandal-plagued JP Morgan Chase (Chase) reported net income for the fourth quarter ... MND NewsWire - 4:35PM How QM Harms Homeowners -House Committee Hearing The House Financial Services Committee heard testimony from five persons, almost all representing mortgage lenders , at a hearing today entitled How Prospective and Current Homeowners ... Mortgage Rate Watch - 3:17PM Mortgage Rates Higher, but Still Near Recent Lows Mortgage rates moved moderately higher today, giving back some of the impressive gains seen since last Thursday. Most of that improvement came on Friday, following the shockingly weak ... MND NewsWire - 10:39AM Potential Manipulation of GSE Trades May be Just Fine with FBI The Federal Bureau of Investigation (FBI) is looking into a sophisticated scheme using " unsophisticated tradecraft " to front run interest rate swaps and thus defraud government sponsored ... Servicing Continues to Hit the Markets; Chase, Wells, Stonegate Earnings Details Represent Lending Environment MBS MID-DAY: After Helping Yesterday, Stocks Hurt Today MBS Day Ahead: Still Very Much About Shaping Fedspectations Common Short Sale Myths Dispelled Housing Scorecard: Nearly 6 Million Fewer Underwater as Prices Hit 2005 Levels Latest Video Mortgage market slows Futures Now: Yields bounce off 1-month low BlackRock's Rosenberg: Buy long bonds More News from 'Around the Web' Realtor.Org - 4:39PM Credit Union or Bank: Does It Matter? Fannie Mae - 4:37PM Fannie Selling Guide Update on Priority of HOA Fees Bloomberg - 4:05PM Fannie Mae Said to Sell $750 Million of Risk-Sharing Securities - Bloomberg DataQuick - 2:20PM December Southland Home Sale Press Releasse CNBC - 2:08PM Fed's Fisher pledges to vote to continue tapering; investors have 'beer goggles' from liquidity House Financial Services - 2:07PM Dodd-Frank Mortgage Rules Harm Homeownership WSJ - 1:15PM Where Did Consumer Spend Their Money in December? Market Watch - 1:12PM Plosser wants Fed to exit QE before end of 2014 www.cfpbmonitor.com - 11:00AM CFPB issues revised mortgage servicing and origination exam procedures blog.redfin.com - 11:00AM Redfin: Hottest Neighborhoods of 2014 CNBC - 10:58AM Interest rates don't matter? Fed paper says so CNBC - 10:24AM Mortgage forecasts lowered for 2014 www.gallup.com - 9:22AM U.S. Economic Confidence Steady So Far in 2014 The Huffington Post - 9:20AM The Cities Where $1 Million Buys Luxury -- Or A Tiny Shoebox Apartment business.time.com - 9:14AM JP Morgan Profits Drop as Legal Costs Take Their Toll Reuters - 9:10AM Consumer spending measure rises solidly Reuters - 9:10AM Import prices flat in December Today's Comments Mortgage Rate Watch - 8:36AM "This is great news! Rates are very competitive...." MBS Live Chat - 12:36PM "Just gave back yesterday's gains, nothing serious so far...." MBS Live Chat - 12:28PM "with the past 2 days having such a rally, you have to expect a day like this..." MBS Live Chat - 12:45PM "RTRS- U.S. FED'S PLOSSER SAYS PREFERS TO END BOND PURCHASES BEFORE LATE 2014..." MBS Live Chat - 1:20PM "RTRS - FED'S FISHER: WILL 'NOT FLINCH' FROM SUPPORTING CUTS TO BOND BUYS EVEN IF STOCKS FALL..." MND NewsWire - 4:17PM "Anyone know what a 'typical' pre-bubble number of underwater mortgages is? 1 million? 2 million?..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.50% +0.03 15 Yr FRM 3.50% +0.00 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.38% +0.03 5/1 Yr ARM 3.25% +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 4.72% 0.28 +0.00 15 Yr. Fixed 3.77% 0.34 +0.04 30 Yr. Jumbo 4.66% 0.12 +0.00 30 Yr. FHA 4.36% 0.15 +0.01 5/1 ARM 3.33% 0.44 +0.02 Freddie Mac ** 30 Yr. Fixed 4.51% 0.70 -0.02 15 Yr. Fixed 3.56% 0.60 +0.01 1 Yr. ARM 2.56% 0.50 +0.00 5/1 Yr. ARM 3.15% 0.40 +0.10 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 95.75 -0.53 30YR FNMA 3.5 100.11 -0.52 30YR GNMA 3.0 97.27 -0.58 30YR GNMA 3.5 101.44 -0.63 15YR FNMA 3.0 102.38 -0.39 15YR FNMA 2.5 99.27 -0.44 Treasuries Yield Change 2 YR 0.3822% +0.0242 5 YR 1.6482% +0.0578 10 YR 2.8709% +0.0443 30 YR 3.8017% +0.0282 Prices as of: 1/14/2014 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. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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