Reviewing HARP 2.0; House Votes on GSE Pay Cuts

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Nov 16, 2011 11:22AM Reviewing the GSEs Rules for HARP 2.0 Freddie Mac and Fannie Mae have released guidance to their lenders on changes to their loan products occasioned by the expansion and extension of the Home Affordable Refinance Program better known as HARP2.0. The changes apply to Freddy Mac's Open Access Relief Refinance Mortgages, both Same Servicer and Open Access versions and to Fannie Mae's Refi Plus TM and DU Refi Plus TM loans. The changes will be effective for loan applications dated on or after December 1 however the effective dates relative... Nov 16, 2011 11:48AM House Committee Votes on GSE Pay Cuts Executives at Fannie Mae and Freddie Mac are one step closer to a massive pay cut following a vote by the House Financial Services Committee to suspend the current compensation packages at the two government sponsored enterprises (GSEs) that have been under federal conservatorship since August 2008. The Committee, on Tuesday, voted 52 to 4 to send HR1221, the Equity in Government Compensation Act to the full House. The bill, sponsored by Spenser Bachus (R-AL) the Committee Chairman, will reduce the... Mortgage Rate Volatility Remains Quiet, Almost Too Quiet... Epic Stock Market Consolidation. MBS/Treasuries Sideways And Uncertain HARP 2.0 Details; Allied Back in Business?; Margin Changes for MBS's; Mortgage Applications Down 10% Last Week, Interest Rates Mixed MBS RECAP: 11/16/2011 Builder Confidence Continues to Rise View: Front Page | Headline Viewer Micro News 3:56 PM: Sideways Themes Abound. Less Data but More Potent Tomorrow 3:23 PM: SIGTARP Halts 85 Online Mortgage Modification Scams 1:55 PM: Fed's Waller on Housing's Role in Recovery/Monetary Policy 1:49 PM: MBS Fall To Lowest Levels Since 9am. Potential Negative Reprices? 11:27 AM: Lacker Says Fed Should Only Hold Treasuries 11:18 AM: Potential Positive Reprices as MBS Pivot Point Provides Support 11:12 AM: Fannie Mae: Testimony of CEO Michael J. Williams President 10:58 AM: NAHB: Builder Confidence Rises Three Points in November »View All Micro News Around the Web A Comeback for the CMBS Market? More on the FHA: Robo-Signing's Effect Committee Votes to Stop Future Bonuses and Significantly Reduce Pay at Fannie, Freddie TransUnion: National Credit Card Delinquencies Increase, but Remain Near Record Low Levels DeMarco: Slow GSE wind-down could ease impact 2 issuers to pay NCUA over MBS »View More Around the Web Video News Home Builder Confidence Improves Fannie & Freddie Executive Compansation Can Italy Survive Its Debt Crisis? »View More Video News Today's Comments "In my experience, very few groups can be counted on to be more out of touch with reality than builders. I'm not encouraged by any increase in confidence..." "I agree MI is definately a big question! We are having almost no problems with subordinations. With the new LLPA's the subordinations will be easier..." "MG. This is the 2nd time you've brought up the correlation of late '08 - early '09 and now (the last one was a couple of weeks back). It just..." »View More Comments Today's Q&A "how much does it cost to transfer ownership of a houese to another person?" "ReFi and understanding data on this site: Freddie Mac Rates vs. "Today's Rate" " "If appraisal is more than purchase price, could I convince lender to charge less for PMI?" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.07 -0.01 15YR 3.43 0.00 FHA30YR 3.78 -0.01 Jumbo30YR 4.33 -0.01 5/1ARM 3.02 -0.01 MBS Quotes 30YR FNMA 3 101-24 0-02 30YR FNMA 4 103-31 0-02 30YR FNMA 4 105-18 0-02 30YR FNMA 5 107-11 0-01 Treasuries 2 YR 0.2500 0.0080 3 YR 0.3934 0.0004 5 YR 0.8821 -0.0259 7 YR 1.4196 -0.0364 10 YR 2.0000 -0.0490 30 YR 3.0294 -0.0536 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application 0.24% Mortgage Refinance -0.21% Mortgage Purchase 1.81% 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