Loan Servicer Sanctions Levied. Penalties Pending

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Apr 13, 2011 3:12PM Loan Servicer Sanctions Levied. Penalties Pending The Federal Reserve, Office of Comptroller of the Currency (OCC), FDIC, and Office of Thrift Supervision (OTC) have issued formal enforcement actions against 14 banking and two loan servicing related organizations which they found had demonstrated a "pattern of misconduct and negligence related to deficient practices in residential mortgage loan servicing and foreclosure processing." The Fed said that these deficiencies represent significant and pervasive compliance failures and unsafe and unsound... Apr 13, 2011 4:57PM Beige Book: Housing Market Still Weakest Link The Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. They call it the Beige Book because its Beige. Shocker! The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ...instead, each Federal Reserve bank interviews key business contacts, economists, market experts, and other sources in their specific district. Here is the Reuters Quick Recap... RTRS-U.S. FED'S BEIGE BOOK SAYS U.S. ECONOMY... Freddie Mac Outlook: Spring Thaw in Housing Market Refinance Demand Wanes. Purchase Apps in the Pipeline? JPMorgan Chase Earnings Hit by Mortgage Banking Costs; FHA Market Share Seen Dropping; GSE Uniform Collateral Data Standards; Mortgage Rates: Unchanged After Reprices for Better MBS RECAP: Out at Best Levels Expensive 10-Year Auction Draws Apathetic Demand. MBS Near Highs View: Front Page | Headline Viewer Micro News 5:25 PM: The Day Ahead: Busy Calendar 4:07 PM: Broad-Based Reprices for Better Reported 3:16 PM: February job openings highest in nearly 2.5 years 2:10 PM: Beige Book: Rising Energy Prices Weigh on Economy 1:24 PM: 10-Year Auction Recap: Buyers Disinterested in Expensive Issue 1:21 PM: REGULATORS ANNOUNCE SERVICER SANCTIONS 12:19 PM: Inflation and Deflation: Basic Q&As 8:42 AM: JPM Chase Conference Call on Foreclosures »View All Micro News Around the Web Appraisers launch online petition against use of AMC fees as "Customary and Reasonable" Realtors® Applaud Bill to Speed Lender Response to Short Sales New Mortgage Call Report Forum (STATE) Real Estate News: Mortgage REITs on a Tear Homeowners: Do you trust your mortgage servicer? Critics say new rules on mortgage servicers not tough enough »View More Around the Web Video News Reaction to President Obama Skepticism About Loan Mods Small Businesses Rely on Small Banks »View More Video News Today's Comments "RTRS-ACTING US COMPRTOLLER OF THE CURRENCY WALSH SAYS MORTGAGE SERVICERS WILL FACE CIVIL MONEY PENALTIES 14:01 13Apr11 RTRS-OCC HEAD WALSH SAYS THE AMOUNT..." "Irakli--read the results of the Presidential Financial Literacy Report in 2008. 40,000 high school students score a 53% on a basic financial literacy test..." "Just can't seem to digest that and agency will "protect consumers of financial products or services." Where is the charge to lead consumers..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: Harris Loan Type: Purchase Loan Amount: 204672,300,000 Property Value: 204672,300,000 LTV..." "Loan Scenario View All Post A Scenario Loan State: Missouri Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: 206291,600,000 Property Value..." "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Purchase Loan Amount: $160,000 Property Value: --- LTV: --- FICO:..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.94 -0.01 15YR 4.23 0.00 FHA30YR 4.74 -0.01 Jumbo30YR 5.60 -0.02 5/1ARM 3.50 -0.01 MBS Quotes FNMA 3.5 93-24 0-04 FNMA 4.0 98-01 0-05 FNMA 4.5 101-18 0-06 FNMA 5.0 104-14 0-06 Treasuries 2 YR 0.7299 -0.0161 3 YR 1.2420 -0.0400 5 YR 2.1698 -0.0312 7 YR 2.8500 -0.0270 10 YR 3.4585 -0.0335 30 YR 4.5439 -0.0311 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% S&P/Case Shiller -0.96% 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 © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Consumer Protection Bureau Forges Partnership with State AGs

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Apr 12, 2011 12:17PM Consumer Protection Bureau Forges Partnership with State AGs At a summit held in Charlotte, North Carolina on Monday, the new Consumer Financial Protection Bureau (CFPB) and the Presidential Initiative Working Group of the National Association of Attorneys General (NAAG) released nine principles which a press release described as "the first step in forging a new partnership between federal and state officials to protect consumers of financial products and services." The Joint Statement of Principles grew out of goals set by the CFPB and NAAG to protect consumers... Apr 12, 2011 3:58PM Reassuring Rates Rally Gives Pause to Bearish Bias Risk trades were peeled off today and the bond market rallied. The directional move was more than welcome by bond bulls as it served to stave off an all-out bearish technical breakdown. The rates rally took shape in above-average overnight trading volumes following a series of bond supportive news headlines . Aiding the rates recovery was weakness in equities that sold off around the globe , leading a flight to safety into government bonds. This forced the yield curve flatter as fast money short... Safe Harbor Rule Open for Interpretation; FHA Mortgage Insurance Premium Increase; Lenders Looking to Hire Mortgage Rates: Fighting Back Community Bankers Face Regulatory Inequalities MBA Urges Regulators Not to Rush Critical Mortgage Reforms IMF Frowns on Mortgage Tax Deduction. Recommends Return to Basics MBS RECAP: 4/12/2011 View: Front Page | Headline Viewer Micro News 4:30 PM: Important Econ Data and a 10yr TSY Auction Tomorrow! 4:17 PM: Updated Bond Market Perspective: Range Trading for Now 3:34 PM: US Treasury Official on US and Global Economies 2:04 PM: Dallas, KC Feds sought discount rate hike-minutes 2:04 PM: US govt posts $188 bln budget deficit in Mar 10:33 AM: Q1 GDP estimates slashed post-trade data 8:39 AM: NFIB Survey: Hiring Up, Optimism Down in March 8:31 AM: Feb trade gap narrowed to $45.76 bln »View All Micro News Around the Web Chart of the Day: Fed Ownership of the Yield Curve Real Estate News: Critical Signs in Foreclosure Talks Fade the Inflation Hysteria California Dings MERS Real Estate Bust Hasn't Dimmed Americans' Faith in Real Estate Economix: The Value of Urban Clustering »View More Around the Web Video News Next DC Disaster: Debt Ceiling Small Biz Sentiment Robo-Butlers by 2020? »View More Video News Today's Comments "As a person who used to be a superstar loan officer, who is now in operations, I am extremely excited to see these changes go into effect. Finally these..." "For case numbers assigned on or after April 18, 2011 the lender must determine that there is a Net Tangible Benefit (NTB) to the borrower as a result of..." "tough question Joe....the answer is all about politics. Repubs will tell you the debate should be supportive of bond yields while Dems say it will crush..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "WHERE CAN I FIND REO/PROPERTY PRESERVATION CONTACTS FOR MORTGAGE COMPANIES? (NOT HOMES FOR SALE, ONES THAT NEED TRASH OUT, ETC WORK)" "Please visit us at 1RentLogic.com or visit our main website at ForRentApartments.com" "Are there any laws that prohibit this?" »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.95 -0.05 15YR 4.23 -0.03 FHA30YR 4.75 -0.04 Jumbo30YR 5.62 -0.06 5/1ARM 3.51 -0.02 MBS Quotes FNMA 3.5 93-20 0-10 FNMA 4.0 97-29 0-08 FNMA 4.5 101-12 0-07 FNMA 5.0 104-09 0-06 Treasuries 2 YR 0.7460 -0.0840 3 YR 1.2199 -0.1061 5 YR 2.2015 -0.1185 7 YR 2.8774 -0.1156 10 YR 3.4923 -0.0947 30 YR 4.5759 -0.0801 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% S&P/Case Shiller -0.96% 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 © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

MBA Urges Regulators Not to Rush Critical Mortgage Reforms

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Apr 8, 2011 12:45PM MBA Urges Regulators Not to Rush Critical Mortgage Reforms The Mortgage Bankers Association (MBA) has what it calls "strong reservations" about the short timetable set out by the Departments of Treasury, Housing and Urban Development and the Federal Housing Finance Agency (FHFA) for revamping the fee structure for loan servicers. The agencies are seeking to make a final decision on the matter by mid-summer , timing that MBA says could lead to a "rush to judgment on this critical and complex issue." MBA, which represents a membership composed of mortgage... Apr 11, 2011 4:50PM Mortgage Rates: Defensive Until Further Notice After being stuck in the same spot for over a month, home loan borrowing costs shot higher last Wednesday at their most violent pace since early February. The release of stored energy led to a spike in Best-Execution mortgage rates. Check out this chart: VISUALIZING THE SPIKE CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate has risen to 5.125% after spending an extended period stuck at 4.875%. For those looking to permanently buy down their rate to 5.00%, this quote... Community Bankers Face Regulatory Inequalities The Week Ahead: Treasury Auctions, Inflation, Budget Battle, Earnings Season MBS RECAP: Very Slow Session Monthly Roll in Process. MBS Prices Seem to Fall Real Estate Investment Trust Primer; L.O. Track Records; Population Growth and Household Formation; Apartment Building Investments IMF Frowns on Mortgage Tax Deduction. Recommends Return to Basics View: Front Page | Headline Viewer Micro News 4:37 PM: Outside Chance of Reprices for the Worse 12:22 PM: Yellen says weak recovery still needs Fed support 12:19 PM: Sluggish Start. MBS Gains Already Baked into Rate Sheets 11:05 AM: Global rebalancing needed to replace US demand-IMF 11:03 AM: IMF Official Comments Providing Guidance 9:20 AM: Subprime MBS Improving According To Fitch 8:46 AM: Technical Targets and MBS Risk Levels 8:34 AM: Fed's Dudley: US Economy Losing Momentum »View All Micro News Around the Web Why aren't the honest bankers demanding prosecutions of their dishonest rivals? PIMCO now betting against U.S. government debt MORTGAGES; 'Good Faith' Problems Mortgage REITs, readying for reform, to boost IPOs Home Improvement Rebounds Rowhouse Rehab: Buying a Luxury Trash Can »View More Around the Web Video News Housing Mogul in the Hotseat Realty Check: New Ginnie Mae Requirements Govt. Shutdown Averted »View More Video News Today's Comments "Trading volume was extremely low in both TBAs and Treasuries today....." "The servicing banks want the AG settlement (to a point) so they can move forward with the foreclosures.A few billion is nothing compared to what will happen..." "Re: "servicers have been ill-equipped to deal with their new role as loan modifiers". Perhaps that's because their function was never to..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Purchase Loan Amount: $900,000 Property Value: 206977,199,000 LTV: 75..." "Does anyone have any information on their new/upcoming comp changes. Preferably information for LO's from the big banks. Educated guesses are welcome..." "If living in another state and want to buy in New Jersey, can I apply in state where I live." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 5.00 -0.02 15YR 4.26 -0.01 FHA30YR 4.79 -0.02 Jumbo30YR 5.68 -0.02 5/1ARM 3.53 0.00 MBS Quotes FNMA 3.5 92-31 -0-08 FNMA 4.0 97-10 -0-10 FNMA 4.5 101-00 -0-07 FNMA 5.0 103-27 -0-12 Treasuries 2 YR 0.8302 0.0162 3 YR 1.3264 0.0084 5 YR 2.3202 0.0072 7 YR 2.9925 0.0015 10 YR 3.5866 0.0036 30 YR 4.6561 0.0121 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% S&P/Case Shiller -0.96% 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 © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031