Industry Wants Better Explanation on Loan Disclosure Reform

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Jul 6, 2011 4:41PM Industry Wants Better Explanation on Loan Disclosure Reform Last week, as reported here the new Consumer Financial Protection Bureau (CFPB) released a second version of prototype documents designed to integrate disclosure forms mandated by the Real Estate Settlement and Procedures Act (RESPA) and the Truth in Lending Act (TILA). Consolidation of the two forms has long been sought by the lending community and is mandated by the Dodd-Frank Wall Street Reform Act. Comments on the revised prototypes were due by July 5. On that date the Mortgage Bankers Association... Jul 6, 2011 1:24PM Rate Techs: MBS Stuck in the Middle. Traders Stay Nimble What is Fibonacci retracement? Where do the ratios come from? Why do they matter? FROM : Investopedia FAQs Fibonacci retracement is a very popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in the thirteenth century. However, Fibonacci's sequence of numbers is not as important as the mathematical relationships, expressed as ratios, between the numbers in the series. In technical analysis, Fibonacci retracement is created by taking two... Seeing Rental Housing as a Social Service Platform Mortgage Rates: Understanding the Risks MBS RECAP: Late Day Weakness Loan Applications Lower as Mortgage Rates Spike Must Read SAFE Act Implementation Update Servicers Speed Up HAMP Conversions. More to Become Eligible View: Front Page | Headline Viewer Micro News 3:46 PM: HUD and Louisiana Make "Road Home" Less Bumpy 1:41 PM: An Ideological View of "Stuck in the Middle" 12:13 PM: Reprices for Worse Possible as MBS Go Red 10:07 AM: ECON: ISM Non-Manufacturing Index Falls 1.3 Points to 53.3. 9:43 AM: Percent of Investors with Long Positions Falls to Zero. 9:27 AM: Sellers Brace for New Mortgage Caps 9:18 AM: ECON: Planned Job Cuts +11.6% in June 8:49 AM: ECON: Mortgage Apps Down as Rates Spike »View All Micro News Around the Web Conforming Loan Limit Data Reis: Office Vacancy Rate flat in Q2 at 17.5 Percent Changes to Conforming Loan Limit Home Prices: Back to Normal? Foreign buyers lifting U.S. home sales HUD Secretary on 20% down payment requirement: "We can't overcorrect" »View More Around the Web Video News Backyard Renovation Nation Obama's Twitter Town Hall ChallengerJobs Report: Small Business Pessimism »View More Video News Today's Comments "MBS underperformed benchmarks today on a general lack of buying interest and profit taking on relative value trades. This focused weakness came regardless..." "Thanks Adam, this post was clear, concise and informative! Every lender should print this out and keep it beside their bed at night!" "No. Housing has not bottomed. Until the chain of title issues are resolved, and foreclosures past/present/future can be completed with clean title insurance..." »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 "Was wondering if anybody is currently using these marketing avenues. If so any feedback on company's that are handling this for you and the success..." "Florida No 1 Private and Hard Money Lender ltvs to 50% Rates from 10% to 12.99% Make sense underwriting Loans from 30k to 5 million. Seeking free and clear..." "Anyone know of a lender that can do vacant land loan in WI?" »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.69 -0.01 15YR 3.87 -0.02 FHA30YR 4.40 -0.03 Jumbo30YR 5.06 -0.03 5/1ARM 3.29 0.00 MBS Quotes FNMA 3.5 95-27 -0-03 FNMA 4.0 100-03 -0-04 FNMA 4.5 103-16 -0-04 FNMA 5.0 106-07 -0-05 Treasuries 2 YR 0.4265 -0.0075 3 YR 0.7338 -0.0082 5 YR 1.6641 -0.0169 7 YR 2.4239 -0.0151 10 YR 3.1099 -0.0091 30 YR 4.3662 -0.0038 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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

Must Read SAFE Act Implementation Update

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Jul 4, 2011 1:43PM Must Read SAFE Act Implementation Update On this day in 1776, the Declaration of Independence was approved by the Continental Congress. Who has time to read a darned commentary on mortgages when there are parades, fireworks, and backyard barbecues across the country? According to the Census Bureau, who has the budget to tabulate us, there are 312 million living in the US today - compared to 2.5 million 235 years ago. I am not going to go on a rant about our nation and offshore jobs, but there are some jobs that can be done overseas (airline... Jul 5, 2011 12:46PM Servicers Speed Up HAMP Conversions. More to Become Eligible The June edition of the Obama Administration's Housing Scorecard released on Friday showed that housing prices turned slightly upward while mortgage defaults continued to fall as have the numbers of completed foreclosures and short sales. However, the aggregate equity of American homeowners also declined. According to the Scorecard, a joint report by the Departments of Housing and Urban Development (HUD) and Treasury, in May, 4.3 percent of prime mortgages were at least 30 days late - a significant... Continuing-Ed: The Value of Loan Servicing Mortgage Rates: High-Risk Event on Friday Seeing Rental Housing as a Social Service Platform HUD Enforcement: The Serious Business of Lender Oversight The Week Ahead: Jobs Jobs Jobs Risk Retention--Back to the Drawing Board View: Front Page | Headline Viewer Micro News 4:18 PM: Another Light Day of Econ Data Ahead 3:48 PM: Bank of America $8.5 bln Mortgage Pact Challenged 3:39 PM: First Day of the Week Hits Symbolically Equivocal Levels 2:29 PM: Moody's Cuts Portugal's Credit Rating to Junk Status 1:20 PM: MBS Holding Firmly to Today's Narrow Range 12:14 PM: Stock Lever Pressures Bonds Slightly Lower. 10:58 AM: Rate Threat: The Debt Ceiling Debate 10:18 AM: Fewer Consumer Bankruptcies in First Half of 2011 »View All Micro News Around the Web Little Help From Government for 'Underwater' Homeowners Debunking the Foreclosure-to-Apartment Assumption The Benefits of a Biweekly Mortgage Plan - Mortgages Number of the Week: Pursuit of Happiness Gets More Difficult An Agency Builder, but Not Yet Its Leader S&P Warns Bank Plan Would Cause Greek Default »View More Around the Web Video News Phoenix Home Sales Hit 6-Yr High The Great Jobs Mismatch Yellowstone River Cleanup »View More Video News Today's Comments "Option #1 is the most comprehensive and the best choice to start using. To me it resembles what an old HUD-1 looked like at least with the line descriptions..." "Why can't we give the customers a complete breakdown of their monthly payment, including taxes and insurance. We also need to total this for them...." "ALSO...PLEASE add a signature and date line to the GFE so that there is proof that the borrower received and reviewed the GFE. I could not believe it when..." »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 "Anyone know of a lender that can do vacant land loan in WI?" "We are about to buy a freddie mac foreclosure property and have to go FHA for our loan because of DTI issues (must use only wifes income, I and self employed..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.70 -0.02 15YR 3.89 -0.03 FHA30YR 4.43 -0.03 Jumbo30YR 5.09 -0.04 5/1ARM 3.29 -0.04 MBS Quotes FNMA 3.5 95-26 0-12 FNMA 4.0 100-06 0-12 FNMA 4.5 103-19 0-17 FNMA 5.0 106-11 0-07 Treasuries 2 YR 0.4344 -0.0396 3 YR 0.7446 -0.0754 5 YR 1.6854 -0.0976 7 YR 2.4484 -0.0786 10 YR 3.1266 -0.0554 30 YR 4.3794 -0.0106 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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

FEEDBACK NEEDED: Simplifying Mortgage Disclosures

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Jun 29, 2011 2:44PM FEEDBACK NEEDED: Simplifying Mortgage Disclosures Transparency is critical and today much of the paperwork associated with a mortgage is far too confusing. Recent government regulations have made credit products, especially mortgages, even more opaque with mandated disclosures in obscure legal language produced in small type. As a result, an extra burden has been imposed on lenders while providing no additional benefit to consumers. Elizabeth Warren, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, told... Jul 1, 2011 12:53PM Mortgage Rates: Decision Time Again After failing on repeated occasions to extend a two-month rally, mortgage rates took the path of least resistance this week: UP The BestEx levee burst . In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are rising. If the line is moving lower, costs are getting cheaper. Sideways mortgage rate behavior followed by an abrupt drop followed by another spell of mostly sideways activity can be seen when looking closely. This spell of sideways activity took place near the... Seeing Rental Housing as a Social Service Platform Rate Movers: Econ Data, Trading Techs, Debt Ceiling Debate The Million Dollar Question: Have Home Prices Bottomed? HUD Enforcement: The Serious Business of Lender Oversight Risk Retention--Back to the Drawing Board Home Sales Index Points Toward Improving Market View: Front Page | Headline Viewer Micro News 4:19 PM: The Week Ahead: JOBS JOBS JOBS 3:54 PM: Rate Movers: Econ Data, Trading Techs, Debt Ceiling Debate 2:50 PM: Borrower Education Tools: A Secret Data Resource 2:32 PM: Principal Reduction Program Cuts Almost $70,000 Per Borrower 2:21 PM: Subprime Mortgage Index Soars as Fed Slows Sales 2:03 PM: Lower Loan Limits Coming: Muted Impact? 1:39 PM: New Mortgagee Letter: Condo Approval Process 1:03 PM: Bad Week for Loan Pricing. Over 1-Point Erased »View All Micro News Around the Web U.S. Food Stamp Use on the Rise Builder Lennar Bulldozes Forlorn, Empty Homes HUD Issues Steps to Protect Active Military From Foreclosure Down Payment Rule Drowning in Opposition Houses Tell All With BuildFax Report Second Homes: Who's Buying and Why »View More Around the Web Video News Economy Coast to Coast U.S. Lawmakers Seek to Reach Debt Deal to Avert Default Miller Sees Five More Years Of High Foreclosure Rates: BLAW »View More Video News Today's Comments "For years I have been simplifying settlement statements into a format much like Option 2. My clients have thus really understood the implication of the..." "a little secret...this data is great if you are looking to do some local "data-based" marketing: http://www2.fdic.gov/recon/index.asp" "Its not about inventory, its about selling MBS. If servicers don't file NODs then the underlying MBS is performing." »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 "We are about to buy a freddie mac foreclosure property and have to go FHA for our loan because of DTI issues (must use only wifes income, I and self employed..." "Hello. I am trying to refinance my home with an adjustable rate mortgage and take some cash out. Some lenders tell me this loan is illegal by Texas State..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.72 0.04 15YR 3.92 0.03 FHA30YR 4.46 0.02 Jumbo30YR 5.13 0.02 5/1ARM 3.33 0.00 MBS Quotes FNMA 3.5 95-16 -0-03 FNMA 4.0 99-25 -0-07 FNMA 4.5 103-12 -0-04 FNMA 5.0 106-05 -0-03 Treasuries 2 YR 0.4779 0.0129 3 YR 0.8226 0.0246 5 YR 1.7861 0.0241 7 YR 2.5271 0.0251 10 YR 3.1879 0.0279 30 YR 4.3955 0.0185 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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