Details on Cost to Process a Loan; NMLS Stats; More on Reasons and Strategies for Buybacks

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Jun 11, 2012 10:29AM Details on Cost to Process a Loan; NMLS Stats; More on Reasons and Strategies for Buybacks Here in Arizona, at the Arizona Mortgage Lenders Association conference, it is clear that mortgage origination and pricing is a numbers game. Many are focused on how much more manpower it takes to close a loan now. (As a quick note, one question LO's and AE's sometimes ask their lock/pricing desk folks is, "Do you price based on competition, or based on what it actually costs us to produce a loan?") Does it cost more to process and close some loans versus others? STRATMOR just released some information... Jun 11, 2012 3:25PM Mortgage Rates Finish Out Close To Unchanged After Bumpy Start Mortgage Rates held steady to slightly weaker today , though some lenders recalled rate sheets in the afternoon as bond markets improved. That helped the average Best-Execution rate get back near Friday's offerings, which were among the best of the week last week. Over the past two weeks, rates have been operating in a fairly narrow range resting on all-time lows. Today's rates are closer to those lows than most of the other sessions. On Friday, we noted that the gains brought many lenders back into... MBS RECAP: Following The Leader Back Into The Green; The "Roll" Is Tonight Full speed ahead on Basel III; Commentary And Input On Appraisal Issues MBS MID-DAY: Bond Markets Get The Assist From Stocks, Europe FHA Expected to Announce New Bulk Sales Agenda The Week Ahead: Markets Digest Spain Bailout, Treasury Auctions, Econ Data, And More Mortgage Rates Improve Again, Back To Week's Best Levels View: Front Page | Headline Viewer Micro News 2:10 PM: Sideways Themes Breaking Down. MBS Hitting New Highs 1:25 PM: Volume Wanes, Rally Stalls. MBS Still Green, But Off Their Highs 11:42 AM: EU floats worst-case plans for Greek euro exit: sources 10:41 AM: Bond Markets Bounce Back (Again) On Evolving Spain Bailout News 8:43 AM: Bond Markets Bounce Back After Significant Overnight Weakness 4:18 PM: Bank of America to Pay $160K to Settle Maternity Claims 4:17 PM: HUD to Expand Sale of Troubled Mortgages 2:41 PM: Another Technical Break For TSYs Putting More Pressure On MBS »View All Micro News Around the Web US Home Sales to Foreigners Rise as Low Prices Draw Investors Fed Says Family Wealth Plunged 38.8% in 2007-2010 on Home Values Commercial Mortgage Repeat Defaults Poised to Increase, RBS Says House Financial Services: Chairman Bachus Announces Committee Schedule Court Affirms Christie Lacked Power to Abolish Housing Agency FHA's Galante Says Delinquent-Loan Buyers Could Become Landlords »View More Around the Web Video News Big Week for the Banks Is $125 Billion Enough for Spain's Banks? 90 Seconds with Art Cashin: Market Not Impressed with Spanish Bailout? »View More Video News Today's Comments "If there is a "genius" like Alan Greenspan running around 30 years from now trying to convince everyone that "housing values will not go..." "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..." »View More Comments Today's Q&A "I found out the lender doesn't finance loans for flipped homes." "I am asked to carry a 5yr mtg with a balloon payment. I want a cosigner for the 5yr mtg. " "How long can it take to regain possession of your property once foreclosure is started?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.77 0.01 15YR 3.03 0.01 FHA30YR 3.67 0.01 Jumbo30YR 4.07 0.01 5/1ARM 3.03 0.00 MBS Quotes 30YR FNMA 3 105-06 0-09 30YR FNMA 4 106-14 0-04 30YR FNMA 4 107-08 0-04 30YR FNMA 5 108-04 -0-01 Treasuries 2 YR 0.2699 -0.0001 3 YR 0.3602 -0.0078 5 YR 0.6859 -0.0251 7 YR 1.0411 -0.0419 10 YR 1.5860 -0.0460 30 YR 2.7069 -0.0361 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

Full Speed Ahead on Basel III; Commentary And Input On Appraisal Issues

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Jun 8, 2012 9:22AM Full speed ahead on Basel III; Commentary And Input On Appraisal Issues Unfortunately for borrowers, and rate sheet pricing, the Fed voted "full speed ahead" for Basel III . "Mortgage servicing rights (MSR), for instance, are used far more by U.S. lenders than by their international competitors. Banks get paid fees for servicing a home loan, which means collecting payments and managing foreclosures, and because they can be sold in markets, their value has been allowed to count toward capital requirements. The Basel agreement limited to 10 percent how much MSR's could... Jun 8, 2012 3:33PM FHA Expected to Announce New Bulk Sales Agenda The Federal Housing Finance Agency (FHA) is expected to announce before the close of business today a new bulk sale program to liquidate some of the reported 700,000 delinquent loans they insure . According to The Wall Street Journal , the agency may be planning on selling as many as 5,000 distressed loans each quarter over an unspecified period of time. Bulk sales were used on a large scale by the Resolution Trust Corporation and the Federal Deposit Insurance Corporation during the savings and loan... Mortgage Rates Improve Again, Back To Week's Best Levels MBS RECAP: Bond Markets Decide To Hold Thursday's Gains (Instead Of Friday's) MGIC Reports Increased Business, Fewer Bad Loans MBS MID-DAY: Giving Back Some AM Gains But Still In The Green The Day Ahead: Sparse Calendar At Home And Abroad Paper Suggests Lower GSE Fees May Pay Off in Reduced Defaults View: Front Page | Headline Viewer Micro News 4:18 PM: Bank of America to Pay $160K to Settle Maternity Claims 4:17 PM: HUD to Expand Sale of Troubled Mortgages 2:41 PM: Another Technical Break For TSYs Putting More Pressure On MBS 12:43 PM: MBS Leaking Slowly Into Technical Danger Zone 11:10 AM: Europe Rallying Into Close, Making Morning Slightly Tough For Bonds 10:04 AM: ECON: Wholesale Inventories Rise Slightly More Than Expected 9:52 AM: Spain To Request EU Bank Aid On Saturday - Reuters 9:13 AM: Fed Proposal Closely Follows Basel Capital Pact »View All Micro News Around the Web Romney's Fannie, Freddie Funds Out Discussion: Is the Housing Market Bottoming Out? Berkshire Sells ResCap Bonds Days After Seeking Probe - Bloomberg China Data, Spain Bailout, Fed Fizzle to Subdue Markets Most Greeks Say Re-Negotiating Bailout Is Possible, Poll Shows - Bloomberg »View More Around the Web Video News Santelli's Midday Bond Report How to Trade the Uncertainty This Weekend Santelli's Explains Why Time is Relative »View More Video News Today's Comments "If there is a "genius" like Alan Greenspan running around 30 years from now trying to convince everyone that "housing values will not go..." "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..." »View More Comments Today's Q&A "Rate Difference for High Cost Area mortgages" "VA Streamline Refinance loan" "GMAC filed for bankrupcy. How can I ask the court to sell ME the note to my mortgage?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.76 -0.02 15YR 3.02 -0.02 FHA30YR 3.66 -0.01 Jumbo30YR 4.06 -0.02 5/1ARM 3.03 0.00 MBS Quotes 30YR FNMA 3 104-30 -0-02 30YR FNMA 4 106-10 -0-02 30YR FNMA 4 107-04 0-01 30YR FNMA 5 108-04 -0-02 Treasuries 2 YR 0.2699 -0.0001 3 YR 0.3682 0.0032 5 YR 0.7115 -0.0015 7 YR 1.0876 0.0046 10 YR 1.6353 -0.0087 30 YR 2.7469 0.0039 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

Paper Suggests Lower GSE Fees May Pay Off in Reduced Defaults

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Jun 7, 2012 10:41AM Paper Suggests Lower GSE Fees May Pay Off in Reduced Defaults The Federal Reserve Bank of New York recently released a paper that looked at the impact of HARP revisions on loan defaults and pricing . The paper, Payment Changes and Default Risk: the Impact of Refinancing on Expected Credit Losses was written by Joseph Tracy and Joshua Wright. When the Home Affordable Refinance Program (HARP) was initiated, its goal to stimulate the economy and reducing defaults by lowering mortgage payments in households with high loan-to-value mortgages. These were borrowers... Jun 7, 2012 3:11PM MBA, NAHB Voice Opposition to Increased Multifamily MIP Representatives of both the Mortgage Bankers Association ( MBA ) and the National Association of Home Builders ( NAHB ) testified before the House Committee on Financial Services' Subcommittee on Insurance, Housing and Community Opportunity Thursday. The committee heard from stakeholders on the oversight of the Federal Housing Administration's Multifamily Insurance Programs . Rodrigo Lopez, President and CEO of AmeriSphere Multifamily Finance in Omaha, Nebraska spoke on behalf of MBA. Lopez told... MBS RECAP: Surprisingly Tame Reaction to Bernanke Testimony. Mortgage Rates Bounce Back From Three Day Rise Originator HARP Chatter, and HARP's Impact on Refinances; Investor/Originator Updates MBS MID-DAY: Bond Markets Maintaining Relative Strength During Bernanke Q&A NMLS Says Most Licensed Companies are Small, Local - Average is 5.8 LO's The Day Ahead: All Eyes On Bernanke's Congressional Testimony View: Front Page | Headline Viewer Micro News 4:02 PM: Late Day Stock Slide Helps MBS To Highs 3:25 PM: MBS On Cruise Control After Uneventful Bernanke Testimony 11:42 AM: MBS Maintain Relatively Higher Levels As Bernanke Fields Questions 10:26 AM: Bond Markets Rallying Before Bernanke Begins Q&A 10:21 AM: Record-Setting Low Fixed Mortgage Rates Persist - Freddie PMMS 10:10 AM: FED: Bernanke's Prepared Testimony For Joint Economic Committee 8:56 AM: Bond Markets In Slightly Better Territory After Jobless Claims 8:37 AM: ECON: Jobless Claims In Line With Expectations »View All Micro News Around the Web FICO: A Better Way to Treat Inquiries DOJ: Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions Bernanke on Bankers on Fed Boards, Too Big to Fail and Deflation Household debt falls slightly in first quarter Fitch Repeats Warning of U.S. Downgrade in 2013, Reuters Says Generation Rent: Slamming Door Of Homeownership »View More Around the Web Video News Representative Campbell on Bernanke, Fed Policy Bernanke: Europe's Problems are More Political than Economic Bernanke Comments on Debt Limit Rule »View More Video News Today's Comments "If there is a "genius" like Alan Greenspan running around 30 years from now trying to convince everyone that "housing values will not go..." "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..." »View More Comments Today's Q&A "VA Streamline Refinance loan" "GMAC filed for bankrupcy. How can I ask the court to sell ME the note to my mortgage?" "What is the current situation regarding refi. Some offer "tricks" to achieve." »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.78 -0.03 15YR 3.04 -0.03 FHA30YR 3.67 -0.03 Jumbo30YR 4.08 -0.03 5/1ARM 3.03 0.02 MBS Quotes 30YR FNMA 3 105-00 0-11 30YR FNMA 4 106-12 0-07 30YR FNMA 4 107-04 0-03 30YR FNMA 5 108-06 -0-01 Treasuries 2 YR 0.2698 0.0038 3 YR 0.3652 -0.0028 5 YR 0.7130 -0.0190 7 YR 1.0830 -0.0280 10 YR 1.6439 -0.0171 30 YR 2.7432 0.0072 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