Allied Mortgage DOJ Suit, HUD Suspension; Rates Improve Again

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Nov 1, 2011 3:14PM Allied Mortgage Hit with DOJ Suit, HUD Suspension The Department of Housing and Urban Development (HUD) and Ginnie Mae have suspended Allied Home Mortgage Corporation , thereby preventing the company from originating and underwriting new mortgages insured by the Federal Housing Administration (FHA) or issue securities through Ginnie Mae's Mortgage-Backed Securities program. The suspensions include by name the company's president and chief executive officer, James C. Hodge, and its executive vice president and chief compliance officer Jeanne L. Stell... Nov 1, 2011 4:22PM Mortgage Rates Improve Yet Again on Renewed EU Drama Mortgage Rates continued lower today as drama in Europe came roaring back. In short, EU drama is and has been increasing the demand for safe-haven investments, such as US Treasuries. Mortgage-Backed-Securities (MBS), which most closely govern mortgage rates TEND to move in the same direction as US Treasuries. In cases like this where we have "panic" and/or "flight-to-safety," MBS can be thought of as indirect beneficiaries, essentially catching some of the glow from the spotlight on Treasuries. Forget... CoreLogic: HARP 2.0 Winners and Losers Servicers Must Review, Compensate Improper Foreclosure Claims Question About Loans Going into MBS; Mortgage Insurer Stats - Good and Bad News Birthplace of Drama Can't Get Enough. MBS Benefit Indirectly. Concrete Ceiling Breaks Again Social Media Marketing for Loan Officers Workshop; Mortgage Jobs; MERS in the News Again MBS RECAP: 11/1/2011 View: Front Page | Headline Viewer Micro News 3:48 PM: Just When You Thought You Were Done With EU Drama... 3:03 PM: Treasuries Surge Into 3pm. MBS Back to Highs. Reprice Risk Fades 2:29 PM: MBS Under Slight Pressure on Stock Gains. Possible Negative Reprices 2:21 PM: Dataquick: Miami Homes Sales Up 15% Over Last Year 2:09 PM: HUD and Ginnie Mae Suspend Allied Home Mortgage 1:09 PM: Merkel, Sarkozy to Talk to Greeks About Summit Deal 12:06 PM: Reuters: US Sues Allied Home Mortgage Over Fraudulent Lending Practices 10:19 AM: Fed Announces Borrowers from Four Mortgage Servicers Can Request Independent Review of Foreclosure »View All Micro News Around the Web Europe: Greece to Hold Referendum on Debt Deal in December or January Fannie Mae and Freddie Mac Serious Delinquency Rates mixed in September Statement Regarding Termination of MF Global Inc. as a Primary Dealer GAO-11-616, Financial Crisis: Review of Federal Reserve System Financial Assistance to American International Group, Inc., September 30, 2011 Fed Chair Bernanke: Crisis Is Changing Central Banking Unofficial Problem Bank list increases to 985 Institutions »View More Around the Web Video News Finkel Invests in Multifamily and Distressed Properties Greece's Referendum Gamble The McMansion Gets a Makeover »View More Video News Today's Comments "I see good things, this will help homeowner that are hog tied to loans with features such as 5, 7, 10 and 30 fixed with 10y IO periods. many of these IO..." "Regardless of your politics it is a bit much to be against a program as common sense as harp." "Anne/Brett-such a tired weak argument to say "free markets" will save all. As long as large lobbying firms are empowered with the ability to..." »View More Comments Today's Q&A "Why do VA refi rates not adjust?" "Is the following statement mortgage fraud or bank fraud" "Monthly Mortgage Rates in XLS format" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.01 -0.06 15YR 3.39 -0.04 FHA30YR 3.75 0.00 Jumbo30YR 4.27 -0.02 5/1ARM 3.01 -0.10 MBS Quotes 30YR FNMA 3 102-08 0-14 30YR FNMA 4 104-12 0-10 30YR FNMA 4 106-02 0-09 30YR FNMA 5 107-26 0-07 Treasuries 2 YR 0.2421 -0.0079 3 YR 0.3774 -0.0136 5 YR 0.9086 -0.0574 7 YR 1.4553 -0.0987 10 YR 1.9854 -0.1306 30 YR 2.9983 -0.1327 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application 4.88% Mortgage Refinance 4.43% Mortgage Purchase 6.38% Building Permits -4.96% Housing Starts 15.03% Construction 1.37% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031