Community Lenders want Smaller GSEs Retained in Secondary Market Role

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Jun 5, 2012 2:46PM Community Lenders want Smaller GSEs Retained in Secondary Market Role The Community Mortgage Lenders of America (CMLA) is urging policy makers to consider retaining the positive aspects of Fannie Mae and Freddie Mac in any future secondary market design. CMLA is asking that a smaller Fannie and Freddie be configured to serve 30-35 percent of the overall secondary mortgage market while being barred from securitizing or investing in anything but plain "vanilla" mortgages. The trade association stated its preferences in a letter to the secretaries of Housing and Urban... Jun 5, 2012 5:18PM FHFA's DeMarco Announces Timothy J. Mayopoulos as Fannie Mae CEO Statement of FHFA Acting Director Edward J. DeMarco On Appointment of Timothy J. Mayopoulos as CEO of Fannie Mae: "I am pleased that the Fannie Mae Board of Directors has selected Timothy J. Mayopoulos to become President and Chief Executive Officer (CEO) of Fannie Mae. Tim brings a breadth of knowledge and experience in housing finance and financial services that is vital at this important time for Fannie Mae and the nation's housing finance system. I look forward to working with him... Mortgage Rates Continue Rising From Historic Lows MBS RECAP: Weaker To Start And Sideways All Day Lender and Regulatory Updates; CMLA White Paper of Future of Secondary Markets; Struggle to Create QM Underwriting Guidelines MBA: Commercial, Multi-Family Delinquencies Fell in First Quarter CoreLogic: Home Prices Increased on Monthly and Annual Basis, Trend to Continue MBS MID-DAY: Grinding Sideways In Weaker Territory View: Front Page | Headline Viewer Micro News 3:06 PM: Post Treasury Close Volatility Creating Minor Reprice Risk 12:50 PM: Limited Follow-Through On Technical Break in 10's. None For MBS 12:05 PM: Nice Technical Breakout In 10's. Hoping It Lasts. So Far So Good 10:12 AM: ECON: ISM Non-Manufacturing Stops 3 Month Slide 9:21 AM: Bond Markets Ratchet Another Notch Weaker Overnight 2:47 PM: 10's Hit Important Technical Level, MBS hit New Lows, More Reprice Risk 1:44 PM: MBS Hit Lows. Negative Reprice Risk Increasing 1:08 PM: No Follow-Through On Rally. Choppier, Riskier, Sideways Again »View All Micro News Around the Web Fannie Mae Taps New CEO From Its Own Ranks Timothy J. Mayopoulos Appointed CEO of Fannie Mae Barclays may recover Lehman-linked assets: ruling Distressing Mortgage Conditions CBO: Massive rise in U.S. debt crashes our economic forecasting model in 2035 Fed's Bullard: Jobless rate doesn't change outlook »View More Around the Web Video News Talking Numbers: Constructive Housing Outlook? Pres. Clinton: Obama's Relationship With Wall Street Trone on U.S. Banks, Executive Compensation »View More Video News Today's Comments "I have to give credit where credit is due, and this program is working remarkably well. Yes, it requires a great deal of effort on the open access side..." "Don--this doesn't surprise you does it? You have written often about the predatory nature of debt dealing in general, but Charlie had an opportunity..." "Without justice where are we? Where is the outrage? Where are the handcuffs and why don't those in the in the industry demand them?? Answer: The fraud..." »View More Comments Today's Q&A "Wells Fargo streamline refinance" "How can I find out if my ex husband has been pre approved to buy our marital home?" "Can spouse business income be used towards FHA downpayment" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.78 0.03 15YR 3.04 0.01 FHA30YR 3.66 0.02 Jumbo30YR 4.08 0.03 5/1ARM 3.03 -0.01 MBS Quotes 30YR FNMA 3 104-27 -0-04 30YR FNMA 4 106-07 -0-01 30YR FNMA 4 107-02 0-00 30YR FNMA 5 108-06 0-01 Treasuries 2 YR 0.2539 -0.0001 3 YR 0.3409 -0.0051 5 YR 0.6841 0.0081 7 YR 1.0459 0.0369 10 YR 1.5727 0.0487 30 YR 2.6412 0.0762 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% 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

Managing Mortgage Risk in the New Era of Banking

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Jun 4, 2012 12:46PM Managing Mortgage Risk in the New Era of Banking Headlines promulgating JP Morgan Chase's recent transgressions reveal capricious trading practices, resulting in record-breaking losses to the institution that has otherwise experienced recent recondite growth and profits. As a result, the financial services industry is in the hot seat once again , reigniting the question of effective banking regulatory oversight. Ultimately, regardless of your political persuasion or position on the regulatory environment, the underlying issue is defining... Jun 4, 2012 10:26AM The Tortilla Industry's Relation to LO and Realtor Comp; Thoughts on MBS Versus Rate Sheet Prices I know that some folks only read the first paragraph of this daily blather, and then skip to the joke. That's why I am putting this in now: http://www.consumerfinance.gov/notice-and-comment/ . Don't say that you never commented on the plethora of things the CFPB is considering, especially QM - the borrower's ability to repay proposals. The CFPB delayed new rules to create standards for the mortgage-lending industry, and extended the public comment period above. Not to be confused with QRM, "Qualified... Mortgage Rates Rise After Hitting All Time Lows On Friday MBS RECAP: Heavy Supply And Treasury Selling Weigh On Mortgages Regulators to Coordinate Large Bank Oversight Under Dodd-Frank MBS MID-DAY: Nominal Weakness Following Friday's Rally; MBS Outperform The Week Ahead: Light On Economic Data, Heavy On FOMC Speakers HARP 2.0 Activity Surges on Interest Rates, Program Enhancements View: Front Page | Headline Viewer Micro News 2:47 PM: 10's Hit Important Technical Level, MBS hit New Lows, More Reprice Risk 1:44 PM: MBS Hit Lows. Negative Reprice Risk Increasing 1:08 PM: No Follow-Through On Rally. Choppier, Riskier, Sideways Again 12:35 PM: Still Choppy, But MBS/TSYs Slightly Stronger Into The PM 10:10 AM: ECON: Factory Orders Weaker Than Expected 9:40 AM: Headlines, Overnight News Strikes Back Against Friday's Rally 9:06 AM: Europe Getting Closer To Fiscal Union/Eurobonds 1:57 PM: Beware The Pipeline Control Negative Reprices! »View All Micro News Around the Web Marion Sandler: A Pioneer More Twist, Mortgage Buying Likely From Fed, Jersey Says After The Housing Bust, Revisiting Homeownership U.S. urges Europe to strengthen banking system The Biggest Holders of US Government Debt The Credit Overhang: The Differing Recovery Trajectories Of U.S. Auto Companies and Homebuilders »View More Around the Web Video News Growing Expectations for Fed QE Santelli's Midday Bond Report Treasury Yields: How Low Can They Go? »View More Video News Today's Comments "Without justice where are we? Where is the outrage? Where are the handcuffs and why don't those in the in the industry demand them?? Answer: The fraud..." "Forgive me... "POST CRISIS... my ass... the crisis has been ongoing for some five years... Dr. Shiller and Mr. Case still do not "get it"..." "Fundamentals haven't changed and won't soon, but the Fed's intervention in the securities markets (Operation Twist) is scheduled to end in..." »View More Comments Today's Q&A "How can I find out if my ex husband has been pre approved to buy our marital home?" "Can spouse business income be used towards FHA downpayment" "quitclaim deed transferred over property but mortgage in others names who is resposible." »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.75 0.01 15YR 3.03 0.00 FHA30YR 3.64 0.01 Jumbo30YR 4.05 0.01 5/1ARM 3.04 -0.03 MBS Quotes 30YR FNMA 3 104-31 -0-12 30YR FNMA 4 106-08 -0-11 30YR FNMA 4 107-02 -0-08 30YR FNMA 5 108-05 -0-05 Treasuries 2 YR 0.2539 0.0039 3 YR 0.3461 0.0131 5 YR 0.6761 0.0541 7 YR 1.0089 0.0759 10 YR 1.5239 0.0649 30 YR 2.5645 0.0365 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% 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

Mortgage Rates Hit NEW All-Time Lows, 10 Yr Yields Under 1.50%, Following Jobs Report

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Jun 1, 2012 2:51PM Mortgage Rates Hit NEW All-Time Lows Following Jobs Report Mortgage Rates fell decidedly to new all-time lows today after a much weaker-than-expected Employment Situation Report. Because of today's movement, Best-Execution rates for 30yr Fixed Conventional loans have fallen to 3.625% from the 3.75% level they only recently attained. Until recently 3.875% was the long-standing floor for Best-Execution rates with only a few brief glimpses of 3.75% (Read More: What is A Best-Execution Mortgage Rate? ) As we noted yesterday (Get Caught Up With: Yesterday's Post... Jun 1, 2012 9:48AM 10yr Yields Fall Under 1.50 Following Jobs Report Miss Normally, the recap of the morning's economic data comes out in the MBS Mid-Day commentary shortly after 11am, and while most of the data below will be in that recap, we wanted to share it a bit earlier than normal due to the big miss and concomitant big movements in bond markets. We still have ISM data and Construction Spending coming up in moments, but here's a look at the 8:30am NFP data and the market reaction: * NFP +69k vs +150k expectations * Previous NFP revised from +115k to +77k * March... HARP 2.0 Activity Surges on Interest Rates, Program Enhancements Fed's Vote Next Week on Basel III Will Impact Rate Sheets; Beazer to Form Rental REIT SunTrust Settles Loan Discrimination Suit Public Spending Drags at Construction Numbers MBS MID-DAY: Bond Markets Settling In Stronger Territory FHA Loan Problems Mounted in April as Foreclosure Starts Soar 73% View: Front Page | Headline Viewer Micro News 1:57 PM: Beware The Pipeline Control Negative Reprices! 11:08 AM: MBS Inching Into New Highs As Bond Markets Settle In Stronger Territory 10:11 AM: ECON: Private Construction Spending Rises, Public Spending Falls 10:07 AM: ECON: ISM Manufacturing In Line With Conensus 9:03 AM: ECON: Income Falls Slightly But Spending Holds Steady 8:49 AM: ECON: Big Miss For Non-Farm Payrolls. 10yr Yields Into 1.4's! 4:33 PM: LPS' April Mortgage Monitor Shows Sharp Jump in FHA Foreclosure Starts 4:26 PM: Fannie Mae Releases April 2012 Monthly Summary »View All Micro News Around the Web US Audit Cites OCC Lapses in Oversight of Foreclosure Process Geithner Adviser Says Options for GSE Reform Need Further Study OCC Releases CRA Evaluations for 37 National Banks and Federal Savings Associations SIFMA Applauds SEC Approval of Proposals to Address Extraordinary Market Volatility Credit union membership spikes in first quarter Construction Jobs are at Their Lowest Level Since 1946 »View More Around the Web Video News Have Rates Been Too Low for Too Long? Time to Return to Fixed Income? Santelli's Morning Bond Update »View More Video News Today's Comments "Forgive me... "POST CRISIS... my ass... the crisis has been ongoing for some five years... Dr. Shiller and Mr. Case still do not "get it"..." "Fundamentals haven't changed and won't soon, but the Fed's intervention in the securities markets (Operation Twist) is scheduled to end in..." "I find this post slightly amusing actually. There is nothing unconstitutional or illegal about requiring fingerprints for a position (verified by 2 constitutional..." »View More Comments Today's Q&A "Can a conventional loan be refinanaced into a VA loan?" " Can I get a mortgage to purchase a home?" "Can a loan officer be employed by two or more brokes in arizona?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.74 -0.04 15YR 3.03 -0.03 FHA30YR 3.63 -0.07 Jumbo30YR 4.04 -0.04 5/1ARM 3.07 0.07 MBS Quotes 30YR FNMA 3 105-11 0-10 30YR FNMA 4 106-19 0-03 30YR FNMA 4 107-09 0-01 30YR FNMA 5 108-11 0-01 Treasuries 2 YR 0.2500 -0.0160 3 YR 0.3327 -0.0133 5 YR 0.6234 -0.0336 7 YR 0.9352 -0.0788 10 YR 1.4604 -0.1026 30 YR 2.5264 -0.1146 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% 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