Wednesday, March 7, 2012

Mortgage Rates High-Risk Events; FHFA Servicer Shortcomings

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Mar 7, 2012 1:49PM

Mortgage Rates Hold Steady Ahead of High-Risk Events

Mortgages Rates were essentially unchanged today. Several lenders showed small improvements and at least as many, moderate deterioration, with one lender in particular weighing on the day-over-day averages. All told, it wasn't nearly enough to sway Best-Execution Rates for 30yr Fixed Conventional loans which have regained a fair bit of the 3.875% territory. 4.0% Best-Execution offerings are in nearly equal supply, however. (read more about Best-Execution calculations ). In that sense, Best-Ex rates...

Mar 7, 2012 8:23AM

OIG Finds Numerous Shortcomings in FHFA Control of Servicers

The Office of the Inspector General ( OIG ) for the Federal Housing Finance Agency ( FHFA ) has completed an audit to assess whether FHFA has an effective supervisory control structure and sufficient examination coverage and oversight activities to adequately and promptly identify and mitigate risks involving mortgage servicing contractors. These contractors are employed to manage the loan portfolios of the government sponsored enterprises (Enterprises) and supervision was of special concern in light...


Micro News

11:19 AM:

Negative Reprice Risk Picks up as MBS Hit Lows

9:44 AM:

CoreLogic: January Home Price Index Shows Sixth Consecutive Monthly Decline

9:43 AM:

MBA: Commercial/Multifamily Mortgage Delinquencies Down

9:09 AM:

Bond Markets Open Flat, Move Slightly Weaker Following Econ

8:39 AM:

ECON: Productivity Slightly Better, Huge Jump in Costs

8:35 AM:

ECON: ADP Private Payrolls Very Close to Consensus

8:12 AM:

Mortgage Applications Down 1.2%

5:00 PM:

NAR: Housing Affordability Index Hits Record High

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Today's Comments

Thomas Hall

"At first pass when I finally had a chance to review the mortgagee letter. I thought this also was a waste and just about politics. Although I am a pretty..."

Ted Rood

"This has the chance to impact more borrowers (and LOs!) than HARP 2 in the sense that any FHA lender will be able to do any qualified FHA loan. As a correspondent..."

paschal curtin

"Unfortunately this will not help many borrowers since your existing lien must have been originated prior to June 2009. Most of these people have already..."

Today's Q&A

"how to change my last name on waranty deed form"

"Capital Gains Tax On A Second Home "

"So when are the FHA SL changes active? Will the .55 rate only apply to loans orig. before 6/2009?"