Paper Suggests Lower GSE Fees May Pay Off in Reduced Defaults

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Jun 7, 2012 10:41AM Paper Suggests Lower GSE Fees May Pay Off in Reduced Defaults The Federal Reserve Bank of New York recently released a paper that looked at the impact of HARP revisions on loan defaults and pricing . The paper, Payment Changes and Default Risk: the Impact of Refinancing on Expected Credit Losses was written by Joseph Tracy and Joshua Wright. When the Home Affordable Refinance Program (HARP) was initiated, its goal to stimulate the economy and reducing defaults by lowering mortgage payments in households with high loan-to-value mortgages. These were borrowers... Jun 7, 2012 3:11PM MBA, NAHB Voice Opposition to Increased Multifamily MIP Representatives of both the Mortgage Bankers Association ( MBA ) and the National Association of Home Builders ( NAHB ) testified before the House Committee on Financial Services' Subcommittee on Insurance, Housing and Community Opportunity Thursday. The committee heard from stakeholders on the oversight of the Federal Housing Administration's Multifamily Insurance Programs . Rodrigo Lopez, President and CEO of AmeriSphere Multifamily Finance in Omaha, Nebraska spoke on behalf of MBA. Lopez told... MBS RECAP: Surprisingly Tame Reaction to Bernanke Testimony. Mortgage Rates Bounce Back From Three Day Rise Originator HARP Chatter, and HARP's Impact on Refinances; Investor/Originator Updates MBS MID-DAY: Bond Markets Maintaining Relative Strength During Bernanke Q&A NMLS Says Most Licensed Companies are Small, Local - Average is 5.8 LO's The Day Ahead: All Eyes On Bernanke's Congressional Testimony View: Front Page | Headline Viewer Micro News 4:02 PM: Late Day Stock Slide Helps MBS To Highs 3:25 PM: MBS On Cruise Control After Uneventful Bernanke Testimony 11:42 AM: MBS Maintain Relatively Higher Levels As Bernanke Fields Questions 10:26 AM: Bond Markets Rallying Before Bernanke Begins Q&A 10:21 AM: Record-Setting Low Fixed Mortgage Rates Persist - Freddie PMMS 10:10 AM: FED: Bernanke's Prepared Testimony For Joint Economic Committee 8:56 AM: Bond Markets In Slightly Better Territory After Jobless Claims 8:37 AM: ECON: Jobless Claims In Line With Expectations »View All Micro News Around the Web FICO: A Better Way to Treat Inquiries DOJ: Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions Bernanke on Bankers on Fed Boards, Too Big to Fail and Deflation Household debt falls slightly in first quarter Fitch Repeats Warning of U.S. Downgrade in 2013, Reuters Says Generation Rent: Slamming Door Of Homeownership »View More Around the Web Video News Representative Campbell on Bernanke, Fed Policy Bernanke: Europe's Problems are More Political than Economic Bernanke Comments on Debt Limit Rule »View More Video News Today's Comments "If there is a "genius" like Alan Greenspan running around 30 years from now trying to convince everyone that "housing values will not go..." "I have to give credit where credit is due, and this program is working remarkably well. Yes, it requires a great deal of effort on the open access side..." "Don--this doesn't surprise you does it? You have written often about the predatory nature of debt dealing in general, but Charlie had an opportunity..." »View More Comments Today's Q&A "VA Streamline Refinance loan" "GMAC filed for bankrupcy. How can I ask the court to sell ME the note to my mortgage?" "What is the current situation regarding refi. Some offer "tricks" to achieve." »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.78 -0.03 15YR 3.04 -0.03 FHA30YR 3.67 -0.03 Jumbo30YR 4.08 -0.03 5/1ARM 3.03 0.02 MBS Quotes 30YR FNMA 3 105-00 0-11 30YR FNMA 4 106-12 0-07 30YR FNMA 4 107-04 0-03 30YR FNMA 5 108-06 -0-01 Treasuries 2 YR 0.2698 0.0038 3 YR 0.3652 -0.0028 5 YR 0.7130 -0.0190 7 YR 1.0830 -0.0280 10 YR 1.6439 -0.0171 30 YR 2.7432 0.0072 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% 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 © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031