Daily Newsletter: FHA's Wants Increased Authority to Hold Lenders Accountable; Mortgage Rates Jump to 2013 Highs

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30 Year Fixed 3.63%   +0.06 15 Year Fixed 2.95%   +0.05 10YR Treasury 2.03%   +0.0507 FNMA 30YR 3.5 105.02   -0.14 FNMA 15YR 2.5 104.78   -0.06 View Today's Rates

Wednesday February 13, 2013 MND NewsWire - 3:43PM FHA's Galante Asks Congress For Increased Authority To Hold Lenders Accountable On Wednesday the House Financial Services Committee held a second in a scheduled series of hearings to look into the financial condition of the Federal Housing Administration (FHA) ... Mortgage Rate Watch - 4:13PM Mortgage Rates Jump To Highest Levels Of The Year Mortgage rates surged higher at their quickest pace since late January on Wednesday eclipsing the previous highs of the year seen around the same time. For many lenders--and for the ... MND NewsWire - 3:18PM CPFB Announces Implementation Plan to Help Lenders Comply The Consumer Financial Protection Bureau ( CFPB ) today announced five steps it will take to assist the mortgage industry to comply with new consumer protection rules going into effect ... MND NewsWire - 2:43PM FHFA Ruling on Forced Placed Insurance Criticized by Consumer Groups A consortium of consumer advocates is criticizing a recent decision by the Federal Housing Finance Agency (FHFA) regarding Fannie Mae's attempt to reform its forced-placed insurance ... MBS RECAP: Rough Day For Bond Markets, Even Before It Began SOTU Prompts Positive Reactions from Industry Groups Mortgage Applications Fall as Key Rates Reach Five Month Highs All-cash Buying on the Rise While Delinquencies Drop; Nevada wants to do what? Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors Redwood's 0% Default Rate; The Nationstar Model and the Current State of Servicing Valuation Mortgage Delinquency Falls To 4-Year Low, But Remains Historically Elevated Nevada Looks to Reduce Shadow Inventory by Purchasing $150M in Delinquent Mortgages Latest Video U.S. Housing in `Cyclical Expansion,' Hatzius Says Zell on State of Housing Recovery Senate: Jack Lew Questioned About Citi More News from 'Around the Web' Bloomberg - 2:32PM OCC's Curry Defends $9 Billion Foreclosure Deal With Servicers Realtor.Org - 12:48PM NAR: Tax Reform, Fixing Mortgage Rules High on 2013 Obama Agenda CRL - 12:48PM CRL: FHFA action harms homeowners House Financial Services - 12:47PM Chairman Hensarling: "Grave Fears" that FHA is an Impediment a Sustainable Housing Finance System WSJ - 12:07PM Obama: 'Let's Streamline the Process' on Lending CNBC - 12:00PM Mortgage Mess Still Mires Housing Recovery WSJ - 8:41AM Mortgage Burden Grows, but Federal Role Is Shrinking CNBC - 8:40AM Banks Told To Review Their Own Foreclosures DataQuick - 2:47PM Southern California Begin 2013 With Home Sales and Price Gains Vs. Year Earlier CNBC - 12:18AM Plosser: Fed Too Vague With Guidance Today's Comments MND NewsWire - 3:56PM "Let's see, FHA is $16,000,000,000 in the hole. Our best and brightest's solution: Raise rates for both refinances and purchases, giving borrowers ample motivation to drop their FHA loans. That should really help that cash flow issue...." MBS Live Chat - 3:23PM "Quick informal poll for those who have been paying attention to the FHA MMI drama beginning in November. On a scale of 1-10, how true do you feel this statement is: "FHA is placing and inordinate amount of attention on raising costs and lender review capabilities compared to toughening underwriting standards..." MBS Live Chat - 3:24PM "7. if 10 = true and 1 false...." MBS Live Chat - 3:25PM "8/10. Raisng MIP and making it permanent will only reduce their portfolio and revenues. Doesn;t do much good to raise the rates and have revenues go down!..." MBS Live Chat - 3:25PM "I don't know about the u/w getting tougher in the last 6 months but the increase in costs is definitely an issue. Pushing deals to other products, obviously their intent, or juts making the deal not a deal. So I'd say an 8...." MBS Live Chat - 3:26PM "9....They are will only attract those that don't qualify on 97% FNMA. Lower scores and those that can't be done conventionally...." Today's Rates Best Execution Rate Change 30 Yr FRM 3.63% +0.06 15 Yr FRM 2.95% +0.05 FHA 30 Year Fixed 3.35% +0.06 Jumbo 30 Year Fixed 3.81% +0.04 5/1 Yr ARM 3.04% +0.03 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.70% 1.16 -0.11 30 Yr. Fixed 3.47% 1.29 -0.07 MBA ** 30 Yr. Fixed 3.75% 0.43 +0.02 15 Yr. Fixed 3.01% 0.28 +0.01 30 Yr. Jumbo 3.98% 0.36 +0.02 30 Yr. FHA 3.53% 0.39 +0.00 5/1 ARM 2.66% 0.31 -0.06 Freddie Mac ** 30 Yr. Fixed 3.53% 0.80 +0.00 15 Yr. Fixed 2.77% 0.70 -0.04 1 Yr. ARM 2.53% 0.40 -0.06 5/1 Yr. ARM 2.63% 0.60 -0.07 Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. Secondary Markets MBS Price Change 30YR FNMA 3.0 102.64 -0.30 30YR FNMA 3.5 105.02 -0.14 30YR GNMA 3.0 103.78 -0.31 30YR GNMA 3.5 107.08 -0.16 15YR FNMA 3.0 104.78 -0.06 15YR FNMA 2.5 103.36 -0.19 Treasuries Yield Change 2 YR 0.2780% +0.0080 5 YR 0.9073% +0.0420 10 YR 2.0277% +0.0507 30 YR 3.2330% +0.0453 Prices as of: 2/13/2013 4:30PM EST Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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