Daily Newsletter: MBA's Stevens on Conservatorship Transition; GSE's QM Buying Restrictions; Wells/BofA Sued

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30 Year Fixed 3.50%   +0.01 15 Year Fixed 2.75%   +0.01 10YR Treasury 1.76%   +0.0206 FNMA 30YR 3.5 106.11   -0.02 FNMA 15YR 2.5 105.41   +0.03 View Today's Rates

Monday May 6, 2013 MND NewsWire - 11:36AM MBA's Stevens: Transition Away From Conservatorship Will Never Be More Advantageous In prepared remarks for a speech before the Mortgage Bankers Associations 2013 Secondary Market Conference on Monday MBA CEO David H. Stevens called for changes to the housing finance ... MND NewsWire - 12:29PM GSEs Begin Qualified Mortgage Rollout; Purchases Restricted in 2014 Freddie Mac and Fannie Mae , as directed by the Federal Housing Finance Agency ( FHFA ), took the first steps in implementation of the new " Qualified Mortgage " (QM) rules today. The ... MND NewsWire - 1:43PM New Delinquencies at Six-Year Low -LPS In yet another indication that the housing market is stabilizing, Lender Processing Services (LPS) said today that new problem loan rates have fallen below 1 percent for the first time ... MND NewsWire - 2:09PM Schneiderman to Sue BofA, Wells Fargo Over Settlement Violations New York Attorney General Eric Schneiderman announced at a press conference this afternoon that his office will be suing Bank of America Corp (BOA) and Wells Fargo and Co for violating ... Seasonal Trends Blamed For Decline in NAHB's Improving Markets List 100% LTV Credit Union Programs, but Some Common Ground With Banks; Borrower Surveys Mortgage Rates Higher In a More Orderly Fashion to Begin The Week MBS RECAP: Weaker Into Afternoon, But Close To Friday's Levels Latest Video Warren Buffett: Bonds Are 'Terrible' Investment Right Now We're Far From Investors Turning on the Fed: Zervos Loan Officer Survey More News from 'Around the Web' CNBC - 2:19PM Why QE Might Outlast Very Low Rates Market Watch - 2:20PM Mortgage standards stay tight: Fed survey Reuters - 1:04PM MBIA, Bank of America reach legal settlement: source Washington Post - 11:52AM Dodd-Frank is finally being implemented. Will that be enough? CNBC - 11:50AM As Mortgages Improve, Old Ills Still Hit Big Banks www.voxeu.org - 10:49AM Congressional influence as a determinant of subprime lending CNBC - 10:44AM New York Attorney General to Sue Bank of America, Wells Fargo, over Mortgage Practices NAHB - 10:44AM Improving Markets List Includes 258 Metros in May FHFA - 10:36AM FHFA Limiting Fannie Mae and Freddie Mac Loan Purchases to "Qualified Mortgages" DataQuick - 2:21PM Miami-area home sales rose for the 11th consecutive month Bloomberg - 2:19PM ResCap Sues Hedge Funds to Stop Demand for More Interest - Bloomberg Bloomberg - 1:15PM US Commercial-Property Prices Rise Above Their '07 Peak - Bloomberg business.time.com - 1:12PM 7 "Smart" Credit Tips That Aren't www.aei-ideas.org - 10:47AM Washington finally waking up to Dodd-Frank's failure Today's Comments MBS Live Chat - 2:17PM "on FHA what is the time frames on foreclosures / chapter 7 for a purchase..." MBS Live Chat - 2:19PM "3 years..." MBS Live Chat - 2:21PM "REPRICE : 2:21 PM - Flagstar Worse..." MBS Live Chat - 2:31PM "haven't run across this lately, client had a short sale 2 years ago, looking to buy now, was told he could put 20% down and buy now?..." MBS Live Chat - 2:33PM "MortgageMan007, the seasoning for short sale is two years for FHA if there were no mortgage lates prior to the short sale...." MBS Live Chat - 2:35PM "I just closed one with the date of contract to purchase just outside of 2 years of a short sale on a conventional deal..." MBS Live Chat - 2:35PM "had to sell "extenuating circumstances" but they had 10 90 day lates leading up to the short sale a few years ago..." MBS Live Chat - 2:35PM "You can do it if they have lates with the right investors..." MBS Live Chat - 3:17PM "REPRICE : 3:17 PM - Interbank Worse..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.50% +0.01 15 Yr FRM 2.75% +0.01 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.61% +0.01 5/1 Yr ARM 2.96% +0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.78% 0.76 +0.08 30 Yr. Fixed 3.53% 1.11 +0.06 MBA ** 30 Yr. Fixed 3.67% 0.50 -0.01 15 Yr. Fixed 2.91% 0.34 -0.01 30 Yr. Jumbo 3.77% 0.27 -0.02 30 Yr. FHA 3.37% 0.55 -0.06 5/1 ARM 2.57% 0.29 -0.01 Freddie Mac ** 30 Yr. Fixed 3.35% 0.70 -0.05 15 Yr. Fixed 2.56% 0.70 -0.05 1 Yr. ARM 2.56% 0.30 -0.06 5/1 Yr. ARM 2.56% 0.50 -0.02 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 3.0 104.03 0.00 30YR FNMA 3.5 106.11 -0.02 30YR GNMA 3.0 105.73 +0.02 30YR GNMA 3.5 108.25 -0.11 15YR FNMA 3.0 105.41 +0.03 15YR FNMA 2.5 104.25 +0.03 Treasuries Yield Change 2 YR 0.2160% -0.0038 5 YR 0.7370% +0.0097 10 YR 1.7623% +0.0206 30 YR 2.9778% +0.0210 Prices as of: 5/6/2013 4:32PM 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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