| Mar 8, 2011 12:01PM Last week a House Financial Services Subcommittee voted to eliminate two programs designed to mitigate the impact of the housing meltdown. Republicans on the Committee voted unanimously to shut down the Emergency Homeowner's Loan Program (EHLP) and FHA's Short-Refinance Option. EHLP is not scheduled to go into operation until next month and the Short-Refi program got off to a slow start and has, as yet assisted only a few homeowners but also has cost 0 in federal monies. The next two housing recovery... Mar 8, 2011 3:56PM March Fannie and Freddie 30 year fixed MBS coupon have begun the settlement process and it will soon look like MBS prices just plummeted (more than they already did today). WHY??? Today is Class A Notification Day in the secondary mortgage market. Class A MBS coupons consist of Fannie Mae and Freddie Mac 30 year loan notes. The MBS coupons that determine rate sheet pricing are traded in the TBA MBS market. TBA = To be Announced. In the TBA MBS market, at the time a trade is made, buyers and sellers...
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