Friday, December 11, 2009

Mortgage "Cramdown" Canned on Capitol Hill

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In a win for the banking industry, the U.S. House of Representatives voted on Friday to reject a measure that would have allowed bankruptcy judges to change... - MND NewsWire
We've come a long way, but it still takes up to 30 days to get a loan funded after the loan application is taken by the loan officer. It's interesting... - Community Commentary
Backstop Needed for Mortgages; JP Morgan Could See More Losses on Home Equity Loans; News from GMAC, ING, Central Pacific, Union Bank - Pipeline Press
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MBS Quotes
FNMA 4.0 98-16 -0-02
FNMA 4.5 101-09 -0-01
FNMA 5.0 103-30 -0-02
FNMA 5.5 105-23 -0-03
FNMA 6.0 106-26 0-00
Updated: 12/11/09 3:31 PM
Treasuries
3 MO 0.0183 -0.0018
2 YR 0.8063 0.0263
5 YR 2.2420 0.0520
10 YR 3.5385 0.0485
30 YR 4.4893 -0.0107
Updated: 12/11/09 3:40 PM
Mortgage Rates
30 Yr FRM 4.93 0.02
15 Yr FRM 4.22 0.02
FHA 30 Year 5.16 0.02
Jumbo 30 Year 6.11 0.01
5/1 Yr ARM 4.06 -0.03
Updated: 12/11/09 10:06 AM
Latest Video      
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Lockhart Says Foreclosures May Spike Without Writedowns: Video
12/11/2009
Dec. 11 (Bloomberg) -- James B. Lockhart III, vice chairman of WL Ross & Co. and the former director of the Federal Housing Finance Agency, talks with...
Robert Toll Says U.S. Housing Market Is `Coming Back': Video
12/11/2009
Dec. 11 (Bloomberg) -- Robert Toll, chief executive officer of Toll Brothers Inc., talks with Bloomberg's Carol Massar about the outlook for the U...
Regulating Banker Pay
12/11/2009
Robert Miller, professor of the Tepper School of Businesss at Carnegie Mellon, and James Batson, an attorney at Liddle & Robinson, argue against the...

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Recent Comments
Michael Cromwell
on 12/11/2009 - read this comment
I'm not so opposed to the 45-50% DTI rules. It may hurt business for a while, but I think it's necessary. Time for us to learn how to save. Unfortunately, we will have to endure more equity losses...
Marty Sonke
on 12/11/2009 - read this comment
Although servicers can't seem to get their act together with hiring people that are competent in our industry let alone their poor results with even following the HAMP program, cram down legislation...
Daniel
on 12/10/2009 - read this comment
when everyone is saying they are "locking their loans" are you referring to your ctc files or any application you have taken? Do you have any concern over your pull thru ratios with all your...
Adam Quinones
on 12/10/2009 - read this comment
The voice of mortgage originators and housing professionals was broadcast loud and clear by Federal Reserve Governor Elizabeth Duke today!

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