MBA's Letter to CFPB on Unintended Consequences; Appraisals Killing Home Sales

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Oct 10, 2012 3:57PM MBA's Stevens Stresses Importance of Avoiding Unintened Consequences in Letter to CFPB The Mortgage Bankers Association ( MBA ) has submitted comments to the Consumer Financial Protection Bureau ( CFPB ) regarding the CFPBs August 10 draft of Proposed Rules to amend regulations under the Truth in Lending Act ( TILA ) and the Real Estate Settlement Procedures Act ( RESPA ) regarding residential mortgage loan servicing. The MBA's comments were submitted Wednesday by David H. Stevens, President and CEO, in a letter to Monica Jackson, Office of the Executive Secretary of CFPB. MBA said... Oct 10, 2012 12:48PM Appraisals Still Killing And Delaying Home Sales - NAR A "sizable share of real estate appraisals are holding back home sales" the National Association of Realtors® (NAR) said Wednesday as it released results of a September survey it conducted among its members. Sixty-five percent of Realtors who responded said they had experienced no problems related to appraisals over the previous three months, but 11 percent said they had a contract cancelled because an appraised value came in below the negotiated purchase price . Nine percent reported a delay... Despite Increasing Stratification Mortgage Rates Remain Flat On Average MBS RECAP: Slow And Steady Won The Race Wells' Lobbying and Lawsuit; M&A and Layoffs Continue in the Name of Efficiency; U.S. Debt Levels Declining FHFA Outlines Remainder of GSE Strategic Plan Mortgage Application Volume Settles Back after Record Week Shadow Inventory Back to 2009 Levels: CoreLogic View: Front Page | Headline Viewer Micro News 2:08 PM: Beige Book Uneventful, But With Some Housing/Mortgage Specifics 1:15 PM: Bond Markets Add To Gains After STRONG 10yr Auction 12:29 PM: MBS Trudge Back To Neutral Territory Ahead Of Treasury Auction 10:03 AM: ECON: Wholsale Inventories As Expected, Sales Rise 0.9 vs 0.5 Consensus 9:19 AM: Bond Markets Steadily Weaker Overnight, Sideways Since Open 2:06 PM: Roll-Related Volatility Leading MBS Lower. Reprice Outlook Uncertain 1:26 PM: MBS Continue In Narrow Range; Another Uneventful 3yr Auction 10:46 AM: ECON: Employment Trends Index Declines In September »View All Micro News Around the Web We Listened: What Small Banks and Small Businesses Are Saying About the Dodd-Frank Act Kocherlakota: Plan Suggests Easy Fed Policy for Four or More Years Fed's Kocherlakota Says 2.25% Inflation Isn't Trigger Gross Cuts Holdings of Treasuries to Lowest Since Last October Fed Survey Shows Widespread Housing Improvement Freddie Mac Standard Short Sale and Obtain Valuation Reminders »View More Around the Web Video News Where ReFi Money is Going Wells Fargo `Too Big to Jail,' Neil Barofsky Says Why is Govt. in Housing Business? »View More Video News Today's Comments "Ummm--wow--it took you 3 months to respond to my post and that's the best you can do? Where do I implicate or blame ignorant consumers? The financially..." "Frank, You really expect a 'paper' by the FED to exclaim the housing boom and bubble was their fault? The statement "The 12 facts consistently point to..." "Having a little difficulty understanding the graph, "FEWER THAN 30% 2007 AND PRIOR VINTAGES REMAIN ACTIVE AND CURRENT": does this mean that fewer..." »View More Comments Today's Q&A "My broker told me he was going to lock in my rate. " "Do squatter rights exist in US?" "What does a Canadian family should do when facing foreclosure or power of sale?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.43 0.00 15YR 2.79 -0.01 FHA30YR 3.25 0.00 Jumbo30YR 3.93 0.00 5/1ARM 3.00 0.00 MBS Quotes 30YR FNMA 3 105-06 0-09 30YR FNMA 3 106-19 0-05 30YR FNMA 4 107-08 0-04 30YR FNMA 4 108-01 0-03 Treasuries 2 YR 0.2659 0.0039 3 YR 0.3496 -0.0014 5 YR 0.6538 -0.0082 7 YR 1.0793 -0.0277 10 YR 1.6802 -0.0328 30 YR 2.8848 -0.0402 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application -1.22% Mortgage Refinance -1.96% Mortgage Purchase 2.42% Construction -0.59% Pending Home -2.65% New Home Sales -0.27% 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