MERS, Banks Sued by New York State; MERSCORP Responds

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Feb 3, 2012 3:44PM MERS, Banks Sued by New York State; MERSCORP Responds Three major banks and Virginia-based MERSCORP, Inc. and its subsidiary Mortgage Electronic Registrations Systems ( MERS ) were sued Friday by the state of New York. The suit, filed by the state's Attorney General Eric T. Schneiderman , charges that the creation and use of a privately national electronic registration system, MERS, "has resulted in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts, harming homeowners and undermining the integrity of the... Feb 3, 2012 3:01PM Mortgage Rates Higher Following Employment Report The monthly Employment Situation Report was released at 8:30am this morning, with much better-than-expected results. Stocks rallied sharply and most every interest rate in fixed-income markets moved higher. The economic optimism created by this sort of data tends to increase demand for riskier investments like stocks and lower demand for things like fixed-income notes and bonds. MBS (the "mortgage backed securities" that most directly govern mortgage rates) fall into this fixed-income sector, and... Geithner Outlines Accomplishments, Future of Financial Reform MBS Down, But Not Out Following Strong Jobs Report PHH Restructuring; MBA Classes; Servicing Comp Change Bearing Away; Harsher Fraud Penalties Coming? Calculating Current Coupon in a Record Low Rate Environment HOPE NOW Conference Focused on Military Families, Mediation Housing Assistance 2012: Another Herculean Task for the FHA View: Front Page | Headline Viewer Micro News 1:54 PM: NY Files Lawsuit Against Big Banks for Deceptive and Fraudulent Use of MERS 10:20 AM: MBS Struggle to Hold Lows Following 2nd Round of Econ Data 10:10 AM: ECON: Service Sector Growing Faster Than Expected - ISM 10:06 AM: ECON: Factory Orders Rise, but Pace Slower Than Expected 8:54 AM: First Signs That Bond Markets Have Stopped the Bleeding 8:33 AM: ECON: Non-Farm Payrolls Crush Expectations. Positive Revisions 8:30 AM: Major Upside Surprise for NFP. Bonds On The Retreat 8:21 AM: Overnight Trading Suggests Markets Waiting on NFP »View All Micro News Around the Web CRL: Getting Behind the Veil on Bank Payday Loans Fed's Bullard Says Surprising U.S. Strength Weakens Case for QE Senator Demands Answers from Freddie Mac's Regulator Fed Said to Seek Offers for More AIG-Linked Mortgage Bonds Another Bank of America executive joins JPMorgan Goldman to face mortgage debt class-action lawsuit »View More Around the Web Video News Did Bernanke Get it Wrong? Banks Sued Over Mortgage Registry Santelli: Here's What's Wrong With the Jobs Number »View More Video News Today's Comments "Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..." "I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..." "Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..." »View More Comments Today's Q&A "Does anyone do a no income qualifing rate reduction refinance anymore?" "The house is winterized; does the water & gas have to be turned back on?" "Florida investment Condo Purchase Financing" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.89 0.07 15YR 3.28 0.05 FHA30YR 3.75 0.00 Jumbo30YR 4.11 0.05 5/1ARM 3.00 -0.01 MBS Quotes 30YR FNMA 3 103-23 -0-11 30YR FNMA 4 105-19 -0-07 30YR FNMA 4 106-25 -0-05 30YR FNMA 5 108-00 -0-02 Treasuries 2 YR 0.2342 0.0082 3 YR 0.3222 0.0212 5 YR 0.7709 0.0599 7 YR 1.3346 0.0866 10 YR 1.9259 0.1029 30 YR 3.1224 0.1154 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. New Home Sales -2.23% Building Permits -0.15% Housing Starts 9.08% Construction 0.81% NAHB Builder 5.00% Mortgage Application 23.07% 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 © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

MBS Rallying At All-Time Highs; Housing Assistance 2012; Citi Exit

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Feb 2, 2012 12:50PM MBS Rallying At All-Time Highs, Time To Look At FNMA 3.0 Coupons? We've posed this question almost a month ago ( read more... ) and the answer is fairly similar this time around. That said, MBS prices are higher and more time has passed with the broader rates market trading in a reasonably stable range. These factors (especially the "time passing" part), if they continue, mean that we should indeed expect 3.0 production to continue ramping up. Fannie 3.5's have been by far and away, the dominant production coupon for conventional loans for several months. This... Feb 2, 2012 10:19AM Housing Assistance 2012: Another Herculean Task for the FHA Beginning the 37th month of his presidency, the Obama Administration today announced a laundry list of new programs to help struggling homeowners, crack down on abusive lending practices, make mortgage documents easier to read, convert REO to rental, and other assorted initiatives. Some require Congressional approval; others are a work in progress, and a couple can begin quickly. At the heart of the announcement is a broad new refinance program with the venerable FHA stepping in (once again) to help... Citi Exits Broker Biz; Fed Addresses Sticky Second Mortgage Situation Homeowners Continue Shift Away from Cash-Out Refinancing Mortgage Rates Maintain Record Lows Ahead of Friday's Jobs Report Reports Continue to Show Home Price Declines The State of the Mortgage Industry According to MBA MBS RECAP: 2/2/2012 View: Front Page | Headline Viewer Micro News 1:55 PM: Google Mortgage Rate Search Discontinued 1:26 PM: DataQuick: Las Vegas Home Sales - December 2011 1:02 PM: Freddie Mac: 85% of Refi's Maintain or Reduce Debt in Q4, 26-Year High 11:18 AM: MBS See Transcendental Levity on Bernanke Comments 10:08 AM: Bernanke Testimony on Economic Outlook and the Federal Budget Situation 10:07 AM: Highlights From Bernanke's Prepared Testimony to Congress 10:05 AM: Freddie Mac Mortgage Rates Back at Record Lows 9:54 AM: Fannie Mae Finances $24 Billion Multifamily in 2011 »View All Micro News Around the Web Illinois accuses mortgage firm of robosigning Obama's housing plan, piece by piece Obama Uses Housing as Foil to Romney's 'Hit Bottom' Strategy Fannie Mae Partners Seek Bulk Buys in Cities Headed for Recovery Geithner: More Fannie reform details in the spring S&P Housing Views: Condos prices fell in all five cities in November »View More Around the Web Video News Rep. Cambell: Housing & Financial Restructuring Rep. Paul Ryan Grills Bernanke on Unemployment Rep. Ryan Questions Bernanke on Jobs & Inflation »View More Video News Today's Comments "Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..." "You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..." "And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..." »View More Comments Today's Q&A "The house is winterized; does the water & gas have to be turned back on?" "Florida investment Condo Purchase Financing" "Contract Financing Contingency and Loan Amount" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.82 -0.01 15YR 3.23 -0.01 FHA30YR 3.75 0.00 Jumbo30YR 4.06 -0.02 5/1ARM 3.01 -0.01 MBS Quotes 30YR FNMA 3 104-02 0-03 30YR FNMA 4 105-26 0-03 30YR FNMA 4 106-30 0-01 30YR FNMA 5 108-02 0-01 Treasuries 2 YR 0.2264 0.0004 3 YR 0.3006 -0.0004 5 YR 0.7106 -0.0094 7 YR 1.2477 -0.0183 10 YR 1.8230 -0.0070 30 YR 3.0068 0.0108 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. New Home Sales -2.23% Building Permits -0.15% Housing Starts 9.08% Construction 0.81% NAHB Builder 5.00% Mortgage Application 23.07% 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 © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

State of the Mortgage Industry; White House Housing Plans

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Feb 1, 2012 3:53PM The State of the Mortgage Industry According to MBA The Mortgage Bankers Association ( MBA ) provided its annual assessment of The State of the Mortgage Industry in a press conference Wednesday afternoon. Michael Young, MBA Chairman said that the states that have been hardest hit by the housing crisis are and will continue to deal with the aftermath but there are signs that in much of the nation 2012 will bring a recovering market. One bright spot , Young said, is that the turmoil in the single family market has actually helped the multi-family sector;... Feb 1, 2012 4:22PM White House Details Housing Plans Saying that the housing crisis struck right at the heart of what it means to be middle class, President Barack Obama has begun to flesh out the housing-related proposals he made in his State of the Union speech last Tuesday. He spoke this morning at Falls Church, Virginia about his housing plans, some pieces of which have already been put into effect by the Departments of Justice (DOJ), Treasury, and Housing and Urban Development (HUD) in the eight days since they were first announced. The President... FHFA Invites Investors to Pre-Qualify for Bulk REO Sales Mortgage Rates Remarkably Steady At Historic Lows "Dead On Arrival" Refi Plan to be Announced Today; Large Investors Devolve/Evolve - Is Servicing, or F&F, the Answer? Oregon Joins Servicer Settlement Solemn Remembrance of Those Lost Aboard Shuttle Columbia MBS Continue To Outperform As Treasuries Level Off View: Front Page | Headline Viewer Micro News 1:29 PM: Positive Reprices Not Out of The Question. MBS Test New Highs 12:24 PM: Oregon Joins Multi-State Agreement with Major Financial Insitutions 11:59 AM: MBA Reacts to President Obama's Housing Announcement 11:42 AM: NAR: Commercial Markets Stabilize in Fourth Quarter 2011 10:24 AM: Bond Markets Continue Weakening After Latest Data. MBS Outperform 10:08 AM: ECON: Construction Spending Rises 1.5 pct vs 0.6 Consensus 10:03 AM: ECON: ISM Manufacturing Misses Consensus, But Continues to Rise 9:31 AM: Obama Expected to Discuss Housing at 11am »View All Micro News Around the Web Obama calls for $5-10 billion for home refinancing In Atlanta, Housing Woes Reflect Nation's Pain BofA Tumbles to 5.6% Share of Mortgages as Wells Fargo Dominates Exclusive: Mortgage deal would give states enforcement power Defaults and Losses on Commercial Real Estate Bonds during the Great Depression Era Chairman Bachus: Latest Obama Housing Plan Digs Nation Into A Deeper Hole »View More Around the Web Video News Inside the Mind of Bill Gross Money Flows Into Treasuries Santelli: Obama's Blueprint For America Built to Last »View More Video News Today's Comments "Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..." "You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..." "And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..." »View More Comments Today's Q&A "Florida investment Condo Purchase Financing" "Contract Financing Contingency and Loan Amount" "Should I pay down my mortgage when my property has depreciated in value?" »View More Q&A jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 3.83 -0.01 15YR 3.24 0.00 FHA30YR 3.75 0.00 Jumbo30YR 4.08 0.01 5/1ARM 3.02 0.00 MBS Quotes 30YR FNMA 3 103-31 0-03 30YR FNMA 4 105-23 0-01 30YR FNMA 4 106-29 0-03 30YR FNMA 5 108-01 0-02 Treasuries 2 YR 0.2264 0.0074 3 YR 0.3006 0.0056 5 YR 0.7203 0.0143 7 YR 1.2652 0.0242 10 YR 1.8282 0.0332 30 YR 2.9927 0.0547 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. New Home Sales -2.23% Building Permits -0.15% Housing Starts 9.08% Construction 0.81% NAHB Builder 5.00% Mortgage Application 23.07% 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 © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031