Whistleblowers Charge VA Loan Fraud; Sue 13 lenders

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Oct 5, 2011 10:51AM Whistleblowers Charge VA Loan Fraud; Sue 13 lenders UPDATE: In response to news of the lawsuit, Senator Sherrod Brown (D-OH), Chairman of the Banking Subcommittee on Financial Institutions and Consumer Protection, has called for action from the VA and the Department of Justice. Brown said, "No consumer should be forced to pay illegal fees, but it is particularly disgraceful to impose such extraction schemes on our veterans." He asked the agencies to release full information on any internal investigations and responses to the suit. Three... Oct 5, 2011 5:00PM September Housing Scorecard Released The Departments of Housing and Urban Development (HUD) and Treasury have issued the administration's September Housing Scorecard . The scorecard is largely a round-up of information on housing and housing finance from sources such as S&P/Case-Shiller, RealtyTrac, and the Census Bureau and other government agencies, all of which have previously been covered here. It also incorporates by reference data on the Making Home Affordable Program which, in this month's report, covers summary data through... Mortgage Rates Move Slightly Higher. High-Risk Data Looms A Pod of Investor Updates; Upcoming Conferences & Lots of Various Training Sessions CHARTS: MBS Hold Onto Trend Channel Rates Mixed but Still at Historic Lows - Application Volume Down CRE/Multifamily Finance Picture Improves Despite "August to Forget." CHARTS: MBS Potentially Finding Support On The Day View: Front Page | Headline Viewer Micro News 5:23 PM: Limited Data Ahead of Friday's Jobs Report 2:51 PM: MBA Comments on SEC Re-Proposal of Regulation AB 2:49 PM: Fannie Mae: October UMDP Yardstick Published 2:46 PM: HUD: September Housing Scorecard Released 1:27 PM: MBS Struggling to Hold Support and Stave Off Reprices for the Worse 11:16 AM: Fed Report: Incentive Compensation Practices... 10:59 AM: Subcommittee to Assess Obama Administration's Response to Housing Crisis 10:07 AM: ECON: ISM Non-Manufacturing Flat, but Business Activity Surges »View All Micro News Around the Web Consumer credit is still dicey REALTORS® Strive to Preserve, Expand Housing Opportunities Flood Insurance Stopgap Extension Passes Unwanted McMansions? Make Them Affordable Housing Real Estate Executives Turn More Bearish Committee to Receive Annual Report of the Financial Stability Oversight Council »View More Around the Web Video News Occupy Wall Street Going Nationwide PNC CEO on Banking & the Economy El-Erian Explains 'Financial Repression' »View More Video News Today's Comments "Thanks for the continual updated visuals on the trend channels and midpoints MG. The charts look great and confirm the directional guidance you've..." "Yeah, love the charts with trend channels...gives me a visual as to where we are big picture." "So sad--subprime lending just moved from front side origination to post closing/preforeclosure/modification loss mitigation schemes galore...the FHFA needs..." »View More Comments Today's Q&A "Are HAMP and MHA the same thing?" "Lease Purchase Agreement? What percent of the rent can/should/normally goes toward purchase price?" "What is the HARP mortgage program?" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.95 0.03 15YR 3.42 0.02 FHA30YR 3.75 -0.02 Jumbo30YR 4.26 0.02 5/1ARM 3.27 0.02 MBS Quotes 30YR FNMA 3 102-14 -0-10 30YR FNMA 4 104-19 -0-07 30YR FNMA 4 105-32 -0-05 30YR FNMA 5 107-17 -0-04 Treasuries 2 YR 0.2593 0.0043 3 YR 0.4212 0.0212 5 YR 0.9501 0.0461 7 YR 1.4316 0.0636 10 YR 1.8911 0.0741 30 YR 2.8547 0.0557 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Construction 1.37% Mortgage Application -4.30% Mortgage Refinance -5.20% Mortgage Purchase -0.79% Pending Home -1.23% S&P/Case Shiller 0.91% 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

Did Today's Stock Rally Affect Bond Market Trends?

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Oct 4, 2011 5:16PM Did Today's Stock Rally Affect Bond Market Trends? The answer to the question posed in the headline will turn out to be "not in the slightest." But if you happen to have time for more than once sentence, I put together a few charts to back up that claim. Before we look at the MBS and Treasury charts, what's all this about a stock rally? In case you missed it, stocks came roaring back in the last hour of trading. The S&P gained over 40 points... Absolutely huge reversal... Looks like this: Now take a look at YESTERDAY'S S&P CHART which showed... Oct 4, 2011 11:34AM Focus on Appraisals, Appraiser Hurdles, and AMC's; Bank of America Details Mortgage Exit Strategy "As previously announced, Bank of America Home Loans plans to exit the correspondent mortgage lending channel and focus entirely on retail distribution for its mortgage products and services. After a comprehensive review of market opportunities, Bank of America will close its Correspondent Lending channel by the end of 2011 , following an orderly transition with Clients. Effective immediately, no new Negotiated Trade pool or flow trades will be offered. Best Efforts and Mandatory locks will be accepted... Mortgage Rates Unable To Improve Past All-Time Lows OIG Faults FHFA Oversight of Law Firms LPS: Improvement in Some Foreclosure Metrics, Deterioration in Others MBS RECAP: 10/4/2011 The Day Ahead: 3% Plunge in Global Markets Pushing Equity Futures Down Mortgage Rates Now Easily in Line With All Time Lows View: Front Page | Headline Viewer Micro News 5:59 PM: No Bernanke Tomorrow. Limited Data. ADP Employment 3:49 PM: Once Again, Potential Negative Reprices As MBS Hit Lows 3:34 PM: NMLS: Annual Renewal Period Begins November 1 2:04 PM: Reprice Outlook Turning Neutral. MBS Stable Into Afternoon 11:27 AM: Fed Research: Expectations versus Fundamentals: Does the Cause of Banking Panics Matter for Prudential Policy? 11:24 AM: MBA: CRE Markets Displayed Momentum in Q2 2011 11:22 AM: FRB Issues Enforcement Actions 11:18 AM: FHFA's Oversight of Fannie Mae's Default-Related Legal Services »View All Micro News Around the Web Bernanke, Economic Outlook and Recent Monetary Policy Actions Raskin, Legal Opportunities and Challenges in Crafting a Foreclosure Response Builders Urge Caution on National Ocean Policy FICO CEO discusses risk survey on CNBC, Reuters, Yahoo! Finance ABIA Report Defines Best Practices For Agency New Business Report: Fannie Mae, Regulator Missed Foreclosure Abuses »View More Around the Web Video News Fed Chair Bernanke Begins Testimony Foreclosed Homeowners Could Face Reprieve FHA Claim Denials Could Cost Lenders $11.5B »View More Video News Today's Comments "So sad--subprime lending just moved from front side origination to post closing/preforeclosure/modification loss mitigation schemes galore...the FHFA needs..." "Not yet. Zero." "Is there any real liquidity in the 3% coupon?" »View More Comments Today's Q&A "My husband just started his own business. It is doing very well..." "How can I find an investor to loan me money for a house?" "How many days are required ti give a customer their appraisal..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.92 0.08 15YR 3.40 0.10 FHA30YR 3.75 -0.02 Jumbo30YR 4.24 0.02 5/1ARM 3.25 -0.03 MBS Quotes 30YR FNMA 3 102-23 -0-13 30YR FNMA 4 104-26 -0-10 30YR FNMA 4 106-05 -0-06 30YR FNMA 5 107-20 -0-04 Treasuries 2 YR 0.2552 0.0202 3 YR 0.3996 0.0326 5 YR 0.9036 0.0546 7 YR 1.3679 0.0629 10 YR 1.8173 0.0683 30 YR 2.7991 0.0761 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -1.23% Mortgage Application 9.28% Mortgage Refinance 11.18% Mortgage Purchase 2.56% S&P/Case Shiller 0.91% New Home Sales -2.32% 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 Rates Now Easily in Line With All Time Lows

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Oct 3, 2011 4:04PM Mortgage Rates Now Easily in Line With All Time Lows Bond markets rallied heavily today and Mortgage Rates continued to improve. Most of the gains were seen in the form of lower borrowing costs today, but some of you may see another eighth lower in rate. On average, rates are in line with all time lows. Today's Rates: BESTEXECUTION 30YR FIXED - Firmly 3.875%, Some 3.75% availability FHA/VA - still at 3.75% !! 15 YEAR FIXED - 3.375%, 3.25% getting closer to viable 5 YEAR ARMS - low to mid 3% range, variations from lender to lender. Ongoing Guidance... Oct 3, 2011 5:06PM Greek-Driven Flight to Quality Tempers MBS Rally A familiar scenario played out overnight and through the trading session. It goes like this: new information comes to light about the potential for a Greek default, and the result is a big stock sell-off and an even bigger Flight-to-Quality (FTQ) rally in Treasuries. Despite today being the first day of renewed Fed Buying efforts, MBS just can't keep pace with this level of demand for Treasuries. The technical level at 103-06 turned out to hold as resistance for a majority of the day. Of course the... California Out of Servicer Settlement Deal Charting The Changes in Today's Stock Sell-Off/Bond Rally Loan Pricing Significantly Improved as MBS Rally Flood Insurance Update; 2% Paid on Impound Accounts; Insurance Against a Drop in Home Values? Sign Me Up! The Week Ahead: MBS Reinvestment Program Begins Fraud Trends; Lenders One Weighs in on G-fees; HARP & Servicing Comments; Where Does Impound Income Go? View: Front Page | Headline Viewer Micro News 4:37 PM: Econ Data Takes Back Seat to Bernanke, Twist, Greek FTQ's 11:37 AM: NMLS: MCR Reminder for Q3 11:22 AM: CMBS Delinquencies Stabilize in September : Trepp 10:17 AM: Dataquick: Phoenix Home Sales Surge in August 10:08 AM: ECON: Manufacturing Sector Slightly Better than Expected -ISM 10:03 AM: ECON: Construction Spending Rebounds in August 9:09 AM: MBS Open Stronger. Rate Sheets Should Improve 11:01 AM: Fannie Mae Releases August 2011 Monthly Summary »View All Micro News Around the Web Construction Spending increased in August Six Questions on Lower Loan Limits Will the Fed's Other New Policy Encourage Risky Mortgages? Hearings eye housing finance, MBL New York Fed releases tentative outright Treasury operation schedule Is it really all doom and gloom in the U.S. housing sector? »View More Around the Web Video News FHA Claim Denials Could Cost Lenders $11.5B House Is Gone but Debt Lives On FDIC Closing Some Bank Failure Offices »View More Video News Today's Comments "Brian, I think you are dodging Don's question. The truth is there seems to be no uniform way to establish the value of residential real estate right..." "There are no loses if the loans are going back to the same investors as is the case with HARP. For non govt backed loans with private investors, this gets..." "Thank you for all the comments, feedback and additional insights. Obviously, there are no perfect solutions to this dilemma; however, as is obvious, my..." »View More Comments Today's Q&A "How can I find an investor to loan me money for a house?" "How many days are required ti give a customer their appraisal..." "What is the diffrense between a freehold estate and a non-freehold..." »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.84 -0.05 15YR 3.30 -0.02 FHA30YR 3.75 -0.02 Jumbo30YR 4.22 -0.06 5/1ARM 3.28 0.03 MBS Quotes 30YR FNMA 3 103-04 0-11 30YR FNMA 4 105-03 0-08 30YR FNMA 4 106-11 0-07 30YR FNMA 5 107-24 0-06 Treasuries 2 YR 0.2353 -0.0117 3 YR 0.3673 -0.0377 5 YR 0.8493 -0.1057 7 YR 1.3046 -0.1314 10 YR 1.7492 -0.1678 30 YR 2.7233 -0.1907 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -1.23% Mortgage Application 9.28% Mortgage Refinance 11.18% Mortgage Purchase 2.56% S&P/Case Shiller 0.91% New Home Sales -2.32% 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