Markets Sideways Ahead of FOMC. Stocks Posturing For Big Move?

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Sep 20, 2011 2:13PM Markets Sideways Ahead of FOMC. Stocks Posturing For Big Move? Ever since the abundance of data last Thursday morning, the general expectation has been for a decrease in volume and directionality heading into tomorrow's FOMC announcment. So far, that's what we've gotten, although there have been some brief Europe-related spikes. You can actually see the trend of "lower highs" in 10yr yields and how the promise of the Greek conference call got yields to break above that trendline overnight. You can also see how it was tested extensively this morning (the yellow... Sep 20, 2011 2:46PM Mortgage Rates: One Last Chance to Remove FOMC Risk Some overnight news out of Europe did a small amount of damage to bond markets earlier this morning and based on market levels, Mortgage Rates were just barely weaker than yesterday. But the damage was seen only in terms of COSTS and not in the actual INTEREST RATES that you'd see on your Good Faith Estimate. (see "Current Market" for more details). This is basically a "gimme" ahead of tomorrow's high-risk event the FOMC Announcement (AKA "Fed Rate Decision." Although nothing will change in terms... Rising Permits Brighten Residential Construction Outlook Changes in G-fees, MI Levels and Risk Pricing from GSEs? Improving Commercial Real Estate? MBS RECAP: 9/20/2011 The Day Ahead: Markets Rebound Ahead of Housing Starts FHFA Considers Higher Mortgage Fees Remodeling Surges; Many Homes Now Under-Insured View: Front Page | Headline Viewer Micro News 3:54 PM: The Big Day Finally Arrives Tomorrow. FOMC In Focus 2:38 PM: Stable Enough, High Enough for Reprices for the Better 12:04 PM: NAHB: To Congress, Balanced Approach Needed to Dispose of REO Properties 11:54 AM: How Did The Euro Zone Get Into its Debt Mess? 9:48 AM: S&P/Experian: Consumer Credit Default Indices Show a Significant Decrease 9:45 AM: C.A.R. releases its California Housing Market Forecast for 2012 9:31 AM: Treasuries Nearly Back to Unchanged, MBS Still in the Red 9:19 AM: Census Bureau: Building Permits +3.2% Housing Starts -5.0% »View All Micro News Around the Web Housing Is to the U.S. What Greece Is to the Euro Zone Six Questions on Fannie's 'Mortgage Servicing' Deal Spec Building is Back, With a Catch American Dream Survey: 80% of Homeowners Plan to Buy Again The Future of Home: Urban and Smaller, But Still Owned Multi-family Starts and Completions, Starts and the Unemployment Rate »View More Around the Web Video News Miller Says Countrywide Bankruptcy Would Be Last Option Housing Starts & Permits Mortgage Guaranty Fees on the Rise »View More Video News Today's Comments "The simple truth is we have gotten what we have because we offered nothing as an alternative. The interpretation of how to implement all of the new regulations..." "If anyone is starting a fund drive for "retiring" Barney Frank or Chris Dodd, let me know." "It's an absolute joke, as you would expect from any worthless, unnecessary and overreaching govt. restriction. In the past, I would ALWAYS strive to..." »View More Comments Today's Q&A "RE short sale; if the selling price exceeds the banks agreed..." "How can i work for the banks and clean out homes?" "If someone buys a single family home for cash, how long until..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.10 -0.02 15YR 3.26 -0.03 FHA30YR 3.77 -0.02 Jumbo30YR 4.37 -0.02 5/1ARM 3.12 -0.01 MBS Quotes FNMA 3.5 101-22 -0-01 FNMA 4.0 104-16 -0-02 FNMA 4.5 106-09 -0-02 FNMA 5.0 107-29 -0-03 Treasuries 2 YR 0.1613 0.0043 3 YR 0.2947 -0.0003 5 YR 0.8383 -0.0077 7 YR 1.3768 -0.0192 10 YR 1.9368 -0.0192 30 YR 3.2001 -0.0249 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Building Permits 3.16% Housing Starts -4.99% Construction -1.29% NAHB Builder 0.00% Mortgage Application 6.27% Mortgage Refinance 6.05% 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

FHFA Considering Higher Mortgage Fees

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Sep 19, 2011 11:53AM FHFA Considers Higher Mortgage Fees At the same time the Acting Director of the FHFA is considering loosening guidelines or reducing fees in conjunction with an expanded HARP offering, he's likely to raise certain fees in 2012. Speaking at The American Mortgage Conference in Raleigh, NC, Edward Demarco gave some additional clarity on his previous statement on the expansion of the HARP program, saying "Loan level price adjustments, representations and warranties, valuation requirements, and portability of mortgage insurance... Sep 19, 2011 12:50PM Remodeling Surges; Many Homes Now Under-Insured Home sales may be stagnant but, according to data released on Monday by Buildfax, homeowners are increasingly upgrading the homes they already have. The company, which maintains a nationwide building and permitting data base, said that remodeling activity reached a record high in July as consumers put more discretionary income into their homes. This has also increased the number of under-insured properties to record highs. The BuildFax Remodeling Index (BFRI) for July indicates that residential remodeling... Is Fifth Time The Charm For MBS Concrete Ceiling? Mortgage Rates: Sending A Message Builder Confidence Remains in Basement Two Courts Uphold MERS Foreclosure Rights High-level Production Jobs; Wholesaler Rankings; Countrywide Bankruptcy? MBS MID-DAY: 9/19/2011 View: Front Page | Headline Viewer Micro News 3:48 PM: FOMC Meeting Begins Tomorrow. Limited Economic Data 3:41 PM: Reprices for the Worse Already? 2:27 PM: After Reprices For The Better, Remember The Concrete Ceiling 12:22 PM: Principle Write-Downs? Not For the GSE's says Demarco 12:04 PM: NAHB Calls On Congress to Extend Expiring Loan Limits 10:07 AM: ECON: Home Builder Sentiment Dips in Sept - NAHB 9:46 AM: Dataquick: California Home Sales Up 8.8% in August 9:42 AM: Fannie Mae: September Economics and Mortgage Market Analysis »View All Micro News Around the Web Remarks by FDIC Acting Chairman Martin J. Gruenberg to the American Banker Regulatory Symposium Ryan: Still Waiting for Credible Plan from President Obama NAHB Builder Confidence index declines slightly in September Will the Fed Stimulate, Target, Get Explicit, Twist, or Swerve? Residential Remodeling Index at new high in July REALTORS® And Designations »View More Around the Web Video News Fed Meeting & Deficit Cutting Wall Street Protesters Converge in Lower Manhattan Obama's $3 Trillion Deficit Plan Out Today »View More Video News Today's Comments "The simple truth is we have gotten what we have because we offered nothing as an alternative. The interpretation of how to implement all of the new regulations..." "If anyone is starting a fund drive for "retiring" Barney Frank or Chris Dodd, let me know." "It's an absolute joke, as you would expect from any worthless, unnecessary and overreaching govt. restriction. In the past, I would ALWAYS strive to..." »View More Comments Today's Q&A "RE short sale; if the selling price exceeds the banks agreed..." "How can i work for the banks and clean out homes?" "If someone buys a single family home for cash, how long until..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.12 -0.06 15YR 3.29 -0.04 FHA30YR 3.79 -0.05 Jumbo30YR 4.39 -0.06 5/1ARM 3.13 -0.04 MBS Quotes FNMA 3.5 101-20 0-17 FNMA 4.0 104-14 0-12 FNMA 4.5 106-08 0-09 FNMA 5.0 107-30 0-06 Treasuries 2 YR 0.1572 -0.0158 3 YR 0.2947 -0.0423 5 YR 0.8432 -0.0778 7 YR 1.3957 -0.0833 10 YR 1.9575 -0.0995 30 YR 3.2230 -0.0950 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. NAHB Builder 0.00% Mortgage Application 6.27% Mortgage Refinance 6.05% Mortgage Purchase 7.02% Construction -1.29% S&P/Case Shiller 1.11% 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

Mortgage Company Performance Survey Findings; LO's Comment on Effect of New Comp Rules

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Sep 16, 2011 10:40AM Mortgage Company Performance Survey Findings; LO's Comment on Effect of New Comp Rules "I went for my routine check-up today and everything seemed to be going fine until he asked me to drop my shorts! Do you think I should change dentists?" Sometimes things aren't what people are expecting. I received this note. "I was wondering if you are receiving many comments from LO's regarding the new comp rules . As the dust settles, here is the effect : For the first 3 months under my commission plan, which was a fair number if in a high volume market, I wound up earning $3,500 less than I... Sep 16, 2011 2:51PM Mortgage Rates: AM Weakness Mostly Recovered in the PM After a rough morning, the secondary mortgage market recovered enough to claw back nearly to yesterday's levels. That leaves borrowing costs required for average Mortgage Rates unchanged to marginally higher depending on the lender. This basically makes today a non-event in the sense that there's no change to yesterday's "current market" rates, and leaves next week's FOMC meeting as the next big event with market-moving risk. European headlines also continue to be a factor-one which does not adhere... Issa Launches Investigation of Fannie Mae Loan Purchase from BofA MBA's Stevens: Refinancing Guidelines should be Eased, Bulk Sales Encouraged Stock Lever Benefits MBS Indirectly Restructuring and Renting: Can it Fix the Shadow Inventory Problem? The Day Ahead: Markets Lacking Direction to End Strong Week Fannie Mae Discloses Results of Servicer Assessments View: Front Page | Headline Viewer Micro News 3:27 PM: FOMC Meeting Next Week, MBS Near Center of Recent Range 1:40 PM: Geithner's "Succinct" Message Irks Europeans 12:13 PM: ECON: Household Debt Contracts in Q2, Wealth Slips 10:53 AM: Stocks Fall, TSY Yields Follow, MBS Trying... Potential Positive Reprices 10:43 AM: Ginnie Mae MBS Issuance Surpasses $27 Billion in August 10:01 AM: ECON: Sentiment Rises Slightly from 3yr Low. Expectations Down 9:15 AM: MBS Languishing in Light Volume. Limited Data Today. Volatility Expected 3:58 PM: Tomorrow's Economic Calendar Dies Down as FOMC Approaches »View All Micro News Around the Web AIA Issues Statement on Job Speech by House Speaker John Boehner Report: Geithner to Propose using EFSF like TALF Housing Market Stabilizing with Energy Efficiency and Outdoor Spaces Still Popular Healthiest Housing Markets: Mid-2011 Update 5 Reasons Why Congress Should Let the High-Cost Mortgage Limits Expire Freddie Mac Approves 12 Lenders To Sell Multifamily Seniors Housing Mortgages »View More Around the Web Video News Giving the Housing Market a Boost $65 Million Malibu Mansion Heads to Auction BofA May Put Countrywide Into Bankruptcy; Stocks Rise: Video »View More Video News Today's Comments "REO bulk sales using agency funded leverage + shared-equity arrangement that allows private investors to build custom REO pools based on their own management..." "The plan enacted this week will resolve shadow inventory. The price of homes in AZ(home state) is up 15% to 25% at auction and open market. The FHA refining..." "Russ...ultimately there are no easy solutions. Some would benfit from your plan...most would not. Some will benefit from an expansion of HARP...most don't..." »View More Comments Today's Q&A "my mortgage loan was sold to a different bank but i am behind..." "We have a mortgage that is 1 month old. We do not have prepayment..." "How can I buy a REO?" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.18 0.02 15YR 3.33 0.02 FHA30YR 3.84 0.02 Jumbo30YR 4.45 0.01 5/1ARM 3.17 -0.01 MBS Quotes FNMA 3.5 101-02 0-02 FNMA 4.0 104-01 0-01 FNMA 4.5 105-31 0-01 FNMA 5.0 107-24 0-00 Treasuries 2 YR 0.1732 -0.0198 3 YR 0.3341 -0.0229 5 YR 0.9239 -0.0181 7 YR 1.4833 -0.0177 10 YR 2.0653 -0.0177 30 YR 3.3287 -0.0323 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Mortgage Application 6.27% Mortgage Refinance 6.05% Mortgage Purchase 7.02% Construction -1.29% S&P/Case Shiller 1.11% FHFA Home Price 0.93% 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