Bond Market Officially Repeats History

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Aug 3, 2011 3:51PM Bond Market Officially Repeats History. Reality Restored We've been waiting for this moment for almost 9 months. It has finally come. Beware, there's gonna be some "horn tootin" in this commentary... From: Bond Market Repeating History. False Start Fuels Rally Here we are again. History seems to be repeating itself as we head into the summer months. The market got all excited about a speedy economic recovery following a seasonal uptick in consumer spending and positive progress in the labor market only to find that those improvements weren't sustainable... Aug 3, 2011 12:37PM Risk Retention Regs Scrutinized by Housing Advocates Two of housing's major players have weighed in with comments on proposed standards for mortgage risk retention under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The National Association of Realtors® (NAR) and the Mortgage Bankers Association each sent letters to representatives of the six regulatory agencies involved in formulating the standards and expressed considerable reservations over their direction and intent, especially those that seek to define Qualified Residential... Perspective on Rejected Title Insurance Claims; Even More Negative News for RMIC; Commercial Delinquency Rates Loan Demand Up as Mortgage Rates Fall FEEDBACK NEEDED: New Loan Disclosures Mortgage Rates: New 2011 Lows MBS RECAP: Some Stalling MBS MID-DAY: Explaining Extra Margin in Rate Sheets View: Front Page | Headline Viewer Micro News 3:59 PM: Limited Economic Data Tomorrow, Last Day Before NFP 3:32 PM: Quantifying The Last Week's Move to The Sidelines 3:06 PM: NAMB Tackles Risk Retention and QRM Issues 2:33 PM: VA: Maximum Guaranty Limits – October 1, 2011 through December 31, 2011 1:56 PM: Dataquick: Four Year High Seattle Existing Home Sales 11:26 AM: Geithner Op-Ed: "Compromise Achieved, Reform's the Next Chapter" 10:29 AM: CoreLogic Home Price Index Shows Third Consecutive Month-Over-Month Increase 10:20 AM: ECON: Factory Orders Fall in June »View All Micro News Around the Web Paying for Title Insurance - Mortgage The Biggest Hotel Projects Started This Year Consumer Bankruptcies Drop AMI Calls Upon RMBS Trustees to Carry Out Fundamental Responsibilities Sweet Revenge for Apartment Landlords Bank of America Said to Seek Separate Foreclosure Deal »View More Around the Web Video News Markets Hub: BofA Proposes Loan Forgiveness Deal ADP Numbers: Up 114,000 Private Sector Challenger Report: Visible Signs of Stalling Economy »View More Video News Today's Comments "You can't call hearsay "perspective." Title insurance is a risk elimination business that, given timing, data validity and criminal activity, can never..." "I still don't get why they can't just take the Hud-1 with a few modifications and use that as the GFE. While an improvement over the fustercluck..." "I prefer option A - I think as a Mortgage Accounting Manager and a borrower that it is FAR clearer than the GFE we have now. Another part of my job is..." »View More Comments Today's Q&A "Is a mortgage considered a respa document?" "What does "re-amortizing" a loan mean?" "what happens when there are 2 people on a mortgage and they both..." »View More Q&A Today's Forum Discussions "I am just starting out in the mortgage industry. I am 2 weeks into my mortgage career. I am starting off as an administrative assistant, until I pass the..." "I have a borrower with perfect credit and great assets. We are looking to do the Open Access loan for him but he currently has PMI. This is a Wells Fargo..." "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Cash Out Refinance Loan Amount: $550,000 Property Value: $800,000..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.34 -0.04 15YR 3.65 -0.01 FHA30YR 4.22 -0.04 Jumbo30YR 4.83 -0.03 5/1ARM 3.21 0.00 MBS Quotes FNMA 3.5 99-11 0-09 FNMA 4.0 102-22 0-04 FNMA 4.5 105-05 0-02 FNMA 5.0 107-10 0-02 Treasuries 2 YR 0.3316 0.0116 3 YR 0.5179 0.0349 5 YR 1.2553 0.0383 7 YR 1.9449 0.0139 10 YR 2.6148 0.0018 30 YR 3.8986 -0.0124 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: New Loan Disclosures

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Aug 2, 2011 1:42PM FEEDBACK NEEDED: New Loan 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, the ex-Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau... Aug 2, 2011 2:58PM Mortgage Rates: This is Nuts! Mortgage rates rallied again today, extending their winning streak to four straight sessions. Positive progress has not been modest either. Improvements have been significant. A picture is worth a thousand words... In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are on the rise. If the line is moving down, costs are on the decline. Consumer borrowing costs crept higher last week before plummeting on Friday, then again yesterday, and once again today. Mortgage rates... Less Loan Production, More Repurchases Eat at Ally's Earnings; RMIC in Trouble; Renewed Interest in Regional Lenders Reckless Endangerment and the Mortgage Crisis Blame Game "Qualified Residential Mortgage" on the Hot Seat FHA's Mortgage Review Board Sanctions 240 Lenders MBS RECAP: Through the Roof MBS MID-DAY: Still Rallying View: Front Page | Headline Viewer Micro News 4:00 PM: ADP Tomorrow, More ISM, TSY Announcement Ahead 2:43 PM: ICBA Community Banker Urges Congress: "Don't Tamper With Our Success" 2:31 PM: New York Court Affirms MERS' Status 11:10 AM: MICA Releases New Data That Reveals Private MI Helps Reduce Default on Low Down Payment Loans 11:00 AM: 77% of Refinancing Homeowners Maintain or Reduce Mortgage Debt in Second Quarter 9:14 AM: Fed Confronts Limited Tools to Stir Economy 8:56 AM: Ally Financial Profit Down on Mortgage Loss 8:34 AM: ECON: Consumer Spending Declines, First Time in Nearly 2 Years »View All Micro News Around the Web FHA sells record number of REO in June 'Entourage' House Sells for $4.2 Million Realtors Help Rebuild Joplin, Mo., Community Personal Income less Transfer Payments Revised Down Sharply A "Run to the Bank" Economists React: Very Weak, Very Disappointing »View More Around the Web Video News What if Debt Isn't the Problem? Gold Hits Another Record High Big Comeback for Smaller Banks »View More Video News Today's Comments "A good review. Also it is refreshing to read that the consumers who took these mortgages share in a large part of the blame. No one forced them to take..." "Bill--great article--I am curious about your comment regarding interest only and option ARM products "which they correctly pinpoint as a major factor..." "It's only the beginning, Mr. Berliner. There wil be more books. documentaries, and dramatic films and more revelations regarding the Mortgage Business..." »View More Comments Today's Q&A "after filing chapter 7 but maintaining a mortgage and paying..." "About how long does it take for a underwriter to approve or deny..." "What's it called when a property owner, by all appearances..." »View More Q&A Today's Forum Discussions "I am just starting out in the mortgage industry. I am 2 weeks into my mortgage career. I am starting off as an administrative assistant, until I pass the..." "I'm a Mortgage Broker looking for funding sources here in California. Do you accept or work with Brokered loan Packages? I generate conforming loans..." "Wasn't sure after the recent change if low LTV 15 year deals would still have monthly PMI." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.38 -0.17 15YR 3.66 -0.06 FHA30YR 4.26 -0.05 Jumbo30YR 4.86 -0.06 5/1ARM 3.21 -0.01 MBS Quotes FNMA 3.5 99-03 0-29 FNMA 4.0 102-18 0-21 FNMA 4.5 105-03 0-14 FNMA 5.0 107-09 0-10 Treasuries 2 YR 0.3199 -0.0551 3 YR 0.4834 -0.0646 5 YR 1.2169 -0.1101 7 YR 1.9308 -0.1352 10 YR 2.6132 -0.1398 30 YR 3.9113 -0.1777 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

Reckless Endangerment and the Mortgage Crisis Blame Game

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Aug 1, 2011 2:29PM Reckless Endangerment and the Mortgage Crisis Blame Game I recently completed the book Reckless Endangerment , a widely discussed and heavily promoted perspective on the mortgage and financial crisis. While the book is quite interesting and illuminating at times, it is a poorly written, incomplete and flawed analysis of recent events . The book's strength is its description of how the fixation on affordable housing was allowed to morph into a goal that eclipsed other issues such as loan quality and institutional safety and soundness. It also describes... Aug 1, 2011 10:19AM FHA's Mortgage Review Board Sanctions 240 Lenders The Federal Housing Administration's (FHA's) Mortgagee Review Board (MRB) has posted the results of formal actions taken against 240 lenders for failure to meet FHA requirements. The current notice, posted in The Federal Register , is a summary of MRB actions taken as far back as October 2009. A total of 26 lenders fell into the category of "Settlement Agreements, Civil Money Penalties, Withdrawals of FHA approval, Suspensions, Probations, Reprimands, and Administrative Payments." Among the areas... The Week Ahead: The Return of Econ Fundamentals Fannie Mae Suspends RMIC; Ocwen's Shared Appreciation Modification Program; Title Claim Trouble Mortgage Rates: Path Paved "Qualified Residential Mortgage" on the Hot Seat Seasonal Factors Lift Home Prices. Temporary Gains? MBS RECAP: Best Pricing of Year View: Front Page | Headline Viewer Micro News 4:16 PM: New Disclosures Up. Uncle Sam Wants Feedback 3:58 PM: Tomorrow's Economic Calendar Aptly The Week's Lightest 3:20 PM: Biden Predicts Passage of US Debt Limit Bill 1:58 PM: Deal or no Deal, Debt Drama is Not Going Away - El Erian 12:17 PM: Extra Margin in Rate Sheets. Hedging Costs Up 10:08 AM: ECON: ISM Manufacturing Falls to Lowest Level Since 2009 10:03 AM: ECON: Construction Spending Hits 6 Month High 9:58 AM: US CDS Costs Drop as Debt Deal Nears »View All Micro News Around the Web Mortgages: Paying for Title Insurance Housing Bust Reverses Ownership Gains Rent foreclosures…back to the previous homeowners? Vital Signs: Fewer Home Vacancies Housing: The Missing Move-up Buyer Sovereign Debt Ratings by Country »View More Around the Web Video News Where Are the Cuts? How Safe Are Safe Havens? U.S. ISM Manufacturing Index Drops More Than Estimated »View More Video News Today's Comments "is 4.375% widespread yet?" "Extra Margin in Rate Sheets. Hedging Costs Up: Including reprices for the better, C30 loan pricing has rallied on average by 38.5bps today. This follows..." "Perhaps we should apply a QRM type test to the debt ceiling argument--think it could meet the 28/36 DTI proposed for QRM mortgages? Let's see--according..." »View More Comments Today's Q&A "after filing chapter 7 but maintaining a mortgage and paying..." "About how long does it take for a underwriter to approve or deny..." "What's it called when a property owner, by all appearances..." »View More Q&A Today's Forum Discussions "I'm a Mortgage Broker looking for funding sources here in California. Do you accept or work with Brokered loan Packages? I generate conforming loans..." "Wasn't sure after the recent change if low LTV 15 year deals would still have monthly PMI." "Hello all, I, like most other soon to be home buyers, am wondering if I should lock right now. For me it's not just a question of shaving a 100th of..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.55 -0.04 15YR 3.72 -0.02 FHA30YR 4.31 -0.03 Jumbo30YR 4.92 -0.04 5/1ARM 3.22 -0.03 MBS Quotes FNMA 3.5 98-06 0-14 FNMA 4.0 101-29 0-12 FNMA 4.5 104-21 0-10 FNMA 5.0 106-31 0-10 Treasuries 2 YR 0.3711 0.0121 3 YR 0.5475 0.0135 5 YR 1.3249 -0.0261 7 YR 2.0620 -0.0280 10 YR 2.7509 -0.0421 30 YR 4.0883 -0.0357 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