Monday, March 28, 2011

Housing Advocates Remind Policymakers of Reform Principles

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Mar 28, 2011 2:02PM

Housing Advocates Remind Policymakers of Reform Principles

Reform of the nation's housing system is picking up steam, with one regulatory agency set to vote on risk retention exemptions on Tuesday, multiple hearings about the future face of housing underway on Capitol Hill, and the administration on record with its broad outline for change. But, with everything else going on at home and abroad there has been very little media attention to the topic and reform could very well come to public attention as an accomplished fact. There are however stakeholders...

Mar 28, 2011 10:54AM

NAR Estimates Shadow Inventory by State

The National Association of Realtors'® (NAR) have taken a stab at estimating just how wide and deep the much discussed " shadow inventory " of housing may actually be. Shadow inventory is generally described as the number of homes in bank inventory waiting to be sold plus the homes in that have been foreclosed but for a variety of reasons (redemption periods, marketing or legal reasons) are being held off the market and homes where the mortgages are delinquent and are likely to eventually be...


Micro News

4:17 PM:

Tomorrow Brings Another Auction, More Data, and More Fed Speakers

3:36 PM:

Originator Comp: Industry Groups Seek Restraining Order

3:26 PM:

Loan Pricing Update: Mixed Reprice Reports

2:35 PM:

Agencies Prepare Risk Retention/QRM Rulemaking Proposal

2:22 PM:

Blase Feeling Settles in Over Bond Market

1:35 PM:

Lockhart Shares Fed's Dovish Policy Perspective

1:14 PM:

DATA FLASH: 2 Year Note Auction Results

9:51 AM:

Highly radioactive water leaks from Japanese nuclear plant

Around the Web

Video News

Harris Says Housing, State Government Still in Recession

Does Housing Matter

February Pending Home Sales


Today's Comments

Strike

"Don do you not see how shallow it is to bundle everyone together because of a few people making bad decisions? You are pretty funny though, in your head..."

Ben Bernanke

"Hey Don, you're about 2 1/2 years late with your "mortgage professionals deserve what's coming" argument. Those remaining in this business..."

Frank Ceizyk

"Don--there is little bit of a contradiction in what you are saying....no need for a college degree or a high school diploma in your field... that may be..."

Today's Q&A

Anonymous

"How do i send extra payment to morgage towards principle only..."

Anonymous

"If my agent is selling my home and showing me my new home how..."

Anonymous

"What is the quickest and easiest way to transfer complete ownership..."

Today's Forum Discussions

Tony Brazell

""I started with TXHUD.com in March of this year. The only territory close to me and available was Fort Bend County in Texas. Over the first two to..."

Kevin Foster

"Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Purchase Loan Amount: $250,000 Property Value: $400,000 LTV: 63% FICO..."

robert castaneda

"Loan Scenario View All Post A Scenario Loan State: California Loan County: --- Loan Type: Cash Out Refinance Loan Amount: $230,000 Property Value: $340..."

Friday, March 25, 2011

FDIC to Propose "Qualified Residential Mortgage" Definition

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Mar 23, 2011 3:05PM

FDIC to Propose "Qualified Residential Mortgage" Definition

The debate over what counts as a "Qualified Residential Mortgage (QRM)" may be coming to an end in the near future. The Federal Deposit Insurance Corporation (FDIC) has scheduled a meeting of its Board of Directors for next Tuesday to vote on the issue. A draft of the proposed rule will be made available to the public at that time. QRMs are home loans that will be exempt from the requirement that mortgage lenders retain a 5 percent share of each loan they originate that is packaged for securitization...

Mar 25, 2011 5:52PM

Mortgage Rates: Unfriendly Shift Potentially in Process

Home loan borrowing costs moved incrementally higher this week. There is reason to be concerned about this directional drift.... Although today's increased costs are not out of line with the rest of the week, the broader bond market is potentially undergoing a technical shift . It hasn't been noticeable from a primary mortgage market perspective because borrowing costs have slowly drifted higher with little motivation over the past week, but thin margins are adding up and we're getting more nervous...


Micro News

4:22 PM:

Next Week is About as Heavily-Armed as They Come

12:41 PM:

More QE Requires More Econ Weakness: Minneapolis Fed President

12:26 PM:

Fed's Plosser Reiterates Anti-"Easy Money" Bias

12:21 PM:

Regional and State Unemployment Data: February 2011

12:00 PM:

CC MBS Outperform. Spreads Tighten. Big Seller Looms

11:53 AM:

QEIII Not Needed: Chicago Fed President

10:02 AM:

DATA FLASH: Consumer Sentiment Declines From 77.5 to 67.5

9:56 AM:

Fisher Shares More Hawkish Rates Rhetoric

Around the Web

Video News

Fed Considers Auction for Maiden Lane

The REIT Opportunities

U.S. GDP Grew 3.1% in Fourth Quarter, Revised From 2.8%


Today's Comments

Mike Ford

"wow..stock market is now even ignoring the nuke meltdown situation. this was on bloomberg and yahoo finance this morning: http://finance.yahoo.com/news..."

Mark H

"Lately I have been getting hammered by appraisers on purchases. In most cases the sellers begrudgingly lower their price. Most of the adjustments downward..."

Adam Quinones

"BLAH. NEGATIVE FEEDBACK LOOP!"

Today's Q&A

Anonymous

"How do i send extra payment to morgage towards principle only..."

Anonymous

"If my agent is selling my home and showing me my new home how..."

Anonymous

"What is the quickest and easiest way to transfer complete ownership..."

Today's Forum Discussions

Mary  Nguyen

"NoOverlays.com creates value and liquidity by facilitating the purchase of unsalable loans. These are closed loans that traditional investors will not..."

Mary  Nguyen

"NoOverlays.com is the #1 resource for mortgage lender, bank and credit union liquidity. We create value by facilitating the purchase of unsalable loans..."

Mike Klein

"Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Purchase Loan Amount: $160,000 Property Value: --- LTV: --- FICO:..."

Thursday, March 24, 2011

Freddie Mac Rules Out MERS Foreclosures

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Mar 24, 2011 11:37AM

Freddie Mac Rules Out MERS Foreclosures

Effective April 1, servicers managing Freddie Mac loans will no longer be allowed to foreclose on properties in the name of Mortgage Electronic Registration Systems (MERS). This was one of a several changes announced yesterday by Freddie Mac through Single-Family Seller/Servicer Guide Bulletin 2011-5 . According to the directive, Freddie has "eliminated the option for the foreclosure counsel or trustee to conduct a foreclosure in the name of MERS. Effective for Mortgages registered with MERS that...

Mar 24, 2011 5:46PM

Mortgage Rates: Thin Margins Starting to Stack Up

From where you sit there appears to be little volatility in mortgage rates. Today was the FIFTH consecutive session where loan pricing either remained the same or worsened by a thin margin. We've been stuck in a "directional drift". Economic data and headline news events have done very little to motivate investors. Many market players seem to be waiting on the sidelines in preparation for their next move. All this makes it hard to communicate a sense of urgency but .... Those thin margins are starting...


Micro News

6:05 PM:

CLOSING MARKS: Production Coupons Outperform

4:44 PM:

Surely TOMORROW will FINALLY be the Day!

3:25 PM:

Treasury to Auction 2s/5s/7s Next Week

3:16 PM:

FOMC to Hold Press Briefings to Increase Transparency

1:37 PM:

Rumor: OCC to Offer Separate Servicer Settlement Terms

12:43 PM:

Fannie Mae: Oil Prices Cloud Economic Outlook

8:33 AM:

DATA FLASH: Durable Goods Orders Fall Short of Expectation

8:31 AM:

DATA FLASH Jobless Claims Fell To 382k

Around the Web

Video News

Analyze This: Why By Bonds?

Thornberg Says Low Equity Restrains U.S. New Home Buyers

Housing's Bottom Still to Come?


Today's Comments

Adam Quinones

"BLAH. NEGATIVE FEEDBACK LOOP!"

Michael Deery

"The stock market is defying reality..with all the headline news (Libya war, nuclear issues, Portugal bailout, shocking housing figures, plunging durable..."

Frank Ceizyk

"Here's something originators might be able to help with since it is part of the proposed underwriting standards being proposed: (part of Pending Risk..."

Today's Q&A

Anonymous

"How do i send extra payment to morgage towards principle only..."

Anonymous

"If my agent is selling my home and showing me my new home how..."

Anonymous

"What is the quickest and easiest way to transfer complete ownership..."

Today's Forum Discussions

Richard Ireland

"Loan Scenario View All Post A Scenario Loan State: Louisiana Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $205,000 Property Value..."

Sharmyn Panjwani

"Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Construction Loan Amount: $700,000 Property Value: $3,200,000 LTV..."

John Campbellini

"Loan Scenario View All Post A Scenario Loan State: Florida Loan County: Collier Loan Type: Refinance (Rate and Term) Loan Amount: 173479,400,000 Property Value..."