Private Capital at Work in Affordable Rental Housing

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Jun 27, 2011 2:50PM Private Capital at Work in Affordable Rental Housing While they aren't a new concept, the second issue of the HUD publication Evidence Matters highlights the growing importance of multibank efforts in financing affordable housing developments. This "consortia" of private banks share the risk, reduce the cost of lending, and pool together their expertise to meet affordable housing needs in their respective communities. "Consortia" came about as a result of the federal Low Income Housing Tax Credit (LIHTC ) program in 1986. Private commercial banks,... Jun 27, 2011 8:48AM The Week Ahead: End of Quarter and QEII The week begins at a brisk pace with Personal Income and Spending right off the bat at 8:30AM on Monday morning. Soon after that we'll be preparing for the week's Treasury auction cycle, starting early this time with $35bn 2s at 1pm. 5's and 7's arrive in a similarly early fashion on Tuesday and Wednesday. Adding a few layers of complexity to that situation will be a diverse line-up of Fed Speakers not to mention the ongoing potential for tapebomb news headlines. "Greece remains the focal... Mortgage Rates: Indecisive Attitudes Common Sense Strategies for Mortgage Operations Meetings MortCap on Hedge Capacity Utilization & QRM MBS RECAP: Corrective Conviction Slow Refinance Market Eats at Mortgage Banker Profits The Evolution of Internet-Based Mortgage Lending View: Front Page | Headline Viewer Micro News 4:13 PM: The Day Ahead: First Look at June Econ Data 3:29 PM: Large Firms Endanger Entire Financial System: Hoenig 3:18 PM: Lack of Conviction Displayed in Rally Reversal 1:48 PM: Negative Reprice Risk on the Rise After Auction 1:40 PM: Auction Recap: Dealers Digest Healthy Portion. Indirects MIA 12:36 PM: New Capital Rules: Good or Bad for Home Lending? 10:45 AM: Fed's Kocherlakota: Tax Code Needs Changes 8:34 AM: ECON: Consumer Spending Flat in May »View All Micro News Around the Web Number of the Week: U.S. Teachers' Hours Among World's Longest Capital Rules Tighten for Banks Tighter Lending Crimps Housing Fed Seen Purchasing $300 Billion in Treasuries After QE2 Average Price for U.S. Gas Falls to $3.63 Housing Numbers Could Spell End to June Gloom »View More Around the Web Video News Dodgers Down But Not Out Greece Austerity Debate New Rules For Big Banks »View More Video News Today's Comments "The Day Ahead: The start of a new week brought with it a reversal of positive price action. After rallying as far as 2.85% late last week, the 10yr note..." ""lending should be based on rational historical charting of value trends over a historical time period. If the values begin to exceed those trends..." "Welcome to the "new normal". Have to think that small correspondents will be the next to disappear, following brokers that have basically been..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: Harris Loan Type: Refinance (Rate and Term) Loan Amount: $131,000 Property Value..." "This company is based out of Tulsa and Kentucky. They are moving into the St. Louis Market and I was wanting some feed back. Is this company a good fit..." "I'm just really bummed and hopeful someone can explain the mortgage application process to me because I feel like the broker processing my application..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.49 -0.01 15YR 3.78 -0.01 FHA30YR 4.18 -0.02 Jumbo30YR 4.92 -0.02 5/1ARM 3.15 -0.01 MBS Quotes FNMA 3.5 97-02 -0-10 FNMA 4.0 100-32 -0-09 FNMA 4.5 104-01 -0-06 FNMA 5.0 106-16 -0-03 Treasuries 2 YR 0.3980 0.0610 3 YR 0.6328 0.0658 5 YR 1.4496 0.0686 7 YR 2.1745 0.0585 10 YR 2.9305 0.0595 30 YR 4.2945 0.1055 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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

Slow Refinance Market Eats at Mortgage Banker Profits

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Jun 23, 2011 1:31PM Slow Refinance Market Eats at Mortgage Banker Profits Independent mortgage banks and subsidiaries saw a huge dip in profitability as the average they made on each loan originated dropped from 217139,082 per loan in the fourth quarter of 2010 to $346 in the first quarter of this year. According to the Mortgage Bankers Association's (MBA) Mortgage Bankers Performance Report , lenders increased their overall revenues but profits suffered because of higher production costs. Only 63 percent of the firms in the study posted pre-tax net financial profits in the... Jun 24, 2011 2:31PM MortCap on Hedge Capacity Utilization & QRM [I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about what to write about. The third is below . Our views may or may not coincide, but I thank them for their time in volunteering and helping out.] Today's contribution comes from: Dean A. Brown CEO Mortgage Capital Management Dbrown@mortcap.com Hedge Capacity... The Evolution of Internet-Based Mortgage Lending Mortgage Rates: Yep. Lows of Year Confessions of a Mortgage Banker: Communicating the Truth Economists Argue Over Mortgage Interest Deductibility Directional Motivations Deflated. Uncertainty Abundant HUD Aims to Correct Rental Housing Misconceptions View: Front Page | Headline Viewer Micro News 4:00 PM: The Week Ahead: End of Quarter, Half, and QEII 3:45 PM: Bair Urges U.S. Regulators to Keep Tough Rules 1:56 PM: Risk Retention Crucial to Housing Reform: Treasury 10:59 AM: MBS Lag as TSYs Rally in Slow Market. Reprice Outlook 10:38 AM: Bernanke: Time to Clean Out Foreclosure Pipeline 10:33 AM: Mortgage Poll: Are Strategic Defaults Ethical? 8:50 AM: ECON: GDP Rises 0.1 pct, Perfectly Matching Consensus 8:41 AM: ECON: Durable Goods Orders Improve, Beat Consensus »View All Micro News Around the Web Debt Managers Need to Be More Nimble and Innovate Lower Loan Limits: Let the Games Begin If You Build It, When Will the Home Buyers Come? FHA sells record number of REO in May, Freddie Mac Serious Delinquency Rate declines The IEA Does QE3? HUD Grants to Help Unemployed Stay in Homes »View More Around the Web Video News Fed's Fisher Says Economy to Pick Up, Remain Slow Consumers & Gas Prices Durable Goods & GDP Revision »View More Video News Today's Comments "depends on mkt's attention span. and timing of new headlines on econ fundamentals, our current view is lower oil prices = plus for consumer... right..." "Tapping the Oil reserve does have that familar feeling of "propping up" the economy such as QE. I'm weary of oil prices as the Fed has said..." "I enjoyed the article - Our society today is stuck in a "Who is to blame mode" more time and effort is being spent by our politcal leadership..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: Harris Loan Type: Refinance (Rate and Term) Loan Amount: $131,000 Property Value..." "I'm closing on my house in 2 weeks and i've got a rate locked at 4.875 30 yr fixed through Wells Fargo. No points no origination. Being a frequent..." "Anyone know of a lender that can do vacant land loan in WI?" »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.50 0.00 15YR 3.79 0.00 FHA30YR 4.20 0.00 Jumbo30YR 4.94 0.00 5/1ARM 3.16 0.00 MBS Quotes FNMA 3.5 97-15 0-02 FNMA 4.0 101-09 0-01 FNMA 4.5 104-08 -0-01 FNMA 5.0 106-20 -0-03 Treasuries 2 YR 0.3330 -0.0170 3 YR 0.5639 -0.0511 5 YR 1.3780 -0.0810 7 YR 2.1165 -0.0655 10 YR 2.8672 -0.0468 30 YR 4.1868 0.0198 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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: Best Levels of Year

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Jun 23, 2011 3:57PM Mortgage Rates: Back to Best Levels of Year Some stored energy was released today. Loan pricing improved. And now we're back to the best mortgage rate levels of the year. These positive developments follow a short period of stagnation where volatility in the secondary market kept us on the edge of our seats, but never really amounted to much on rate sheets. Loan pricing has actually drifted mostly sideways since setting new YTD lows on June 8th. We didn't really have to travel far to get here, but we're back again. In the chart of Consumer... Jun 23, 2011 1:31PM Slow Refinance Market Eats at Mortgage Banker Profits Independent mortgage banks and subsidiaries saw a huge dip in profitability as the average they made on each loan originated dropped from 217139,082 per loan in the fourth quarter of 2010 to $346 in the first quarter of this year. According to the Mortgage Bankers Association's (MBA) Mortgage Bankers Performance Report , lenders increased their overall revenues but profits suffered because of higher production costs. Only 63 percent of the firms in the study posted pre-tax net financial profits in the... Nothing New in New Home Sales. Two Times! The Evolution of Internet-Based Mortgage Lending Economists Argue Over Mortgage Interest Deductibility Confessions of a Mortgage Banker: Communicating the Truth MBS RECAP: Decision Time Again HUD Aims to Correct Rental Housing Misconceptions View: Front Page | Headline Viewer Micro News 4:20 PM: The Day Ahead: Q1GDP, Durable Goods, Headline News 4:12 PM: Benchmarks Rally to Key Pivot: Decision Time Again 1:40 PM: Rising Production Costs an Issue for Mortgage Bankers 1:17 PM: 30yr TIPS Auction Fetches Record Low Yield 11:28 AM: Treasury Supply: New Issues to Raise $44 Billion in Cash 10:09 AM: ECON: New Home Sales Decline, Still Beat Estimates 9:48 AM: IEA Release of Oil Stockpiles Moves Markets Briefly 8:47 AM: ECON: Jobless Claims Up. Asterisk Attached »View All Micro News Around the Web Is "Buyer Beware" Alive and Well? Fed Trims Forecasts for Economic Growth Are Homeowners Fixing Their Balance Sheets? Farkas's Acquisition Broadens Special Servicer Role Bernanke: Modify Loans Where Appropriate Surprise! Index Shows House Prices Rose »View More Around the Web Video News Proposed Bill Allows States to Legalize Marijuana Realty Check: New Home Data Deconstructing Housing »View More Video News Today's Comments "re: "Websites that allow consumers to "rate" lenders and loan officers will become more common. " - The challange here is that sites..." "joepatterson: I'm sorry, but your remarks do not comport at ALL with my experience. During the boom when talking to people, and when I was looking..." "Here is a thought. Let's get rid of the MID but replace it with a Mortgage Principal Deduction instead. It is kooky that we reward people for carrying..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Maryland Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $292,000 Property Value..." "by: Richard Booth, CMB The Report of my Death was an Exaggeration - Mark Twain, 1897. A couple of years ago, I had the opportunity to attend a Wells Fargo..." "Loan Scenario View All Post A Scenario Loan State: Florida Loan County: --- Loan Type: Cash Out Refinance Loan Amount: $5,280,000 Property Value: $8,800..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.50 -0.07 15YR 3.79 -0.05 FHA30YR 4.20 -0.05 Jumbo30YR 4.94 -0.03 5/1ARM 3.16 -0.04 MBS Quotes FNMA 3.5 97-13 0-17 FNMA 4.0 101-09 0-12 FNMA 4.5 104-09 0-08 FNMA 5.0 106-22 0-04 Treasuries 2 YR 0.3499 -0.0241 3 YR 0.6173 -0.0557 5 YR 1.4585 -0.0805 7 YR 2.1821 -0.0709 10 YR 2.9144 -0.0656 30 YR 4.1662 -0.0518 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% 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