MBA Hikes 2012 Origination Forecast by $200 Billion

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May 24, 2012 12:55PM MBA Hikes 2012 Origination Forecast by $200 Billion The Mortgage Bankers Association ( MBA ) is projecting that mortgage originations in 2012 will be $200 billion higher than was originally anticipated. Almost all of the increase will be coming from a boom in refinancing, but none of the additional originations are pegged to the Home Affordable Refinance Program (HARP 2.0.) MBA said it now expects that the industry will do 260655.28 trillion in business in 2012, up from 260655.26 trillion in 2011. The new number is an upward revision of $188 billion from... May 24, 2012 1:39PM RMBS Investigators Announce Website, Coordination Team The Residential Mortgage-Backed Securities (RMBS) Working Group unveiled a new website on Thursday to enable "whistleblowers" to report mortgage-backed securities (MBS) related misconduct. The group also announced the creation of a new team to coordinate various securities-related investigations around the country. The Working Group is part of the Financial Fraud Enforcement Task Force ( FFETF ) created in January to address fraud leading to the financial crisis. The group is led by five co-chairs... OIG Recaps October-April Oversight of FHFA Mortgage Rates Higher Today, Still Bouncing Around All-Time Lows MBS RECAP: Settling Into Holiday Weekend Drift Understanding Your Operation is Critical to Profits; Recent Lender/Investor Updates MBS MID-DAY: Leaking Weaker In Lackluster Volume BofA Repurchases $330M from Freddie; Delinquencies Down, Sales Prices Up - What's Going On? AIG Back in Subprime View: Front Page | Headline Viewer Micro News 1:15 PM: MBS Steady Near Their "Least Bad" Levels After 7yr Auction 10:25 AM: MBA Increases Originations Estimate for 2012 by Almost $200 Billion 10:06 AM: Freddie Mac: Mortgage Rates Steady at Historic Lows 9:09 AM: Bond Markets Looking For Support After Opening Slightly Weaker 8:38 AM: ECON: Durable Goods Rise Less Than Expected 8:34 AM: ECON: Jobless Claims Hit Expectations at 370k 4:13 PM: Update on Late Selling Spike 4:02 PM: More Selling At Stock Market Close. Additional Reprice Risk »View All Micro News Around the Web Fake Real Estate Agent Allegedly Bilked Buyers With Open Houses In Foreclosed Homes Bankers belong on Fed boards: KC Fed chief Real estate industry pushes Senate on refi bill Federal Reserve Board releases action plans and engagement letter to correct deficiencies in residential mortgage loan servicing and foreclosure processing NY Fed's Dudley: Conducting Monetary Policy: Rules, Learning and Risk Management Treasuries Remain Lower as 7-Year Auction Sets Record Low Yield »View More Around the Web Video News Santelli's Midday Bond Report Santelli on Regulations Santelli's Morning Bond Update »View More Video News Today's Comments "We are in the Dark Ages of mortgage lending. Appraisals are alchemy, and the underwriting process is the Spanish Inquisition." "Possible? Yes. That's the easy question. The tough question is the one concerning "probable." Harder to know, and I'm not sure anyone..." "The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..." »View More Comments Today's Q&A "Any way to adjust a loan to get an EA-1 down to approve/eligible other than reducing LTV?" "Purchase price significantly lower than mortgage?" "Freddie HARP 2.0 refis" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.83 0.01 15YR 3.10 0.01 FHA30YR 3.74 0.01 Jumbo30YR 4.13 0.01 5/1ARM 3.03 -0.01 MBS Quotes 30YR FNMA 3 104-07 -0-06 30YR FNMA 4 106-00 -0-03 30YR FNMA 4 107-01 -0-02 30YR FNMA 5 108-07 -0-05 Treasuries 2 YR 0.3010 0.0080 3 YR 0.4221 0.0191 5 YR 0.7911 0.0581 7 YR 1.1958 0.0418 10 YR 1.7792 0.0462 30 YR 2.8704 0.0544 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Mortgage Application 9.18% 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

BofA Repurchases $330M from Freddie; Delinquencies Down, Sales Prices Up - What' s Going On? AIG Back in Subprime

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May 23, 2012 10:40AM BofA Repurchases $330M from Freddie; Delinquencies Down, Sales Prices Up - What's Going On? AIG Back in Subprime Here is an interesting note for debt market students: Germany is scheduled today to sell two-year bonds that won't make set interest payments . The move reflects the safe harbor of German debt while revealing trepidation about the euro zone. There is even talk of German bonds with negative yields. "In these uncertain times, people are more concerned about the return of capital rather than the return on capital," said one strategist at Lloyds Bank. (Our 2-yr. was auctioned off yesterday with a yield... May 23, 2012 4:16PM Freddie Mac: Data Starting to Paint Picture of 2012 Freddie Mac said that first quarter 2011 economic data that has begun to emerge from various sources are, even though some is preliminary, beginning to create an impression of what the year may hold. Data on economic growth indicates that the quarter had slower growth than the one that preceded it but was still up from three of the previous four quarters. The slower growth primarily reflected less inventory accumulation and a dip in residential construction. According to the corporation's Economic... MBS RECAP: Early Gains on Europe, Late Weakness on Stocks Mortgage Rates Reclaim Some Of Yesterday's Losses Fed Consumer Video Spotlights Independent Foreclosure Reviews April New Home Sales Bounce Back after March Drop MBS MID-DAY: Bond Markets Benefit From European Sell-Off FHFA Index Shows Modest Home Price Increases View: Front Page | Headline Viewer Micro News 4:13 PM: Update on Late Selling Spike 4:02 PM: More Selling At Stock Market Close. Additional Reprice Risk 3:51 PM: Late-Day Stock Lever Hurting Bond Markets. Reprices Reported 1:38 PM: MBS Steady In Narrow Range Following 5yr Auction, Threats on Horizon 10:49 AM: Bunds, Euro, Fed-Buying, Stock Lever, All Friends Of Bond Markets This AM 10:18 AM: ECON: US House Prices Increase Slightly - FHFA 10:12 AM: New Home Sales Rose More Than Expected in April; Prices Higher 9:11 AM: Why Germany Doesn't Want Eurobonds »View All Micro News Around the Web Freddie Forces BofA To Buy Back Mortgages American Capital Mortgage Investment Corp. Announces Public Offering of Common Stock Ellen Brown: Cooperative Banking is the Exciting Wave of the Future Freddie Mac: May 2012 U.S. Economic and Housing Market Outlook Fitch Wavers Over Plans to Relax Banks' Derivatives Rules Dunkelberg: The Real Banking Crisis - They're Too Big to Manage »View More Around the Web Video News Toll Brothers CEO on Housing Strength U.S. Housing Moving in Right Direction, Zandi Says Santelli Exchange: Treasury Notes Auction »View More Video News Today's Comments "We are in the Dark Ages of mortgage lending. Appraisals are alchemy, and the underwriting process is the Spanish Inquisition." "Possible? Yes. That's the easy question. The tough question is the one concerning "probable." Harder to know, and I'm not sure anyone..." "The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..." »View More Comments Today's Q&A "Freddie HARP 2.0 refis" "Can I negociate out of having an escrow account during a HARP Refi?" "What is a high cost loan" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.82 -0.02 15YR 3.09 -0.01 FHA30YR 3.73 -0.01 Jumbo30YR 4.12 -0.02 5/1ARM 3.04 0.01 MBS Quotes 30YR FNMA 3 104-13 0-03 30YR FNMA 4 106-03 0-03 30YR FNMA 4 107-03 0-01 30YR FNMA 5 108-12 0-00 Treasuries 2 YR 0.2931 -0.0009 3 YR 0.4034 -0.0136 5 YR 0.7329 -0.0301 7 YR 1.1536 -0.0354 10 YR 1.7329 -0.0441 30 YR 2.8155 -0.0565 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Mortgage Application 9.18% 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

Buybacks Wearing on Industry; Fannie, Freddie and Wall Street; FHA & Condo Project Changes?

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May 22, 2012 9:35AM Buybacks Wearing on Industry; Fannie, Freddie and Wall Street; FHA & Condo Project Changes? Pick an overwhelming percentage, like 80 or 90%. Remember when residential loan production wasn't "that" percent agency? Non-agency loans are still out there and periodically being securitized (just ask Redwood Trust in the jumbo sector), but by most accounts the market is "dislocated." And if you're a large bank, who is flush with cash from deposits, there is certainly no urgency to securitize the product and move it off your books - just keep earning the spread. But here is an update on the non... May 22, 2012 11:31AM NAR Declares Start to Housing Comeback The housing recovery is underway according to the National Association of Realtors® (NAR) which released numbers on Tuesday to back up that claim. Existing home sales rose from March to April and are well above sales one year ago. Prices are on the rise as well and the improvements were felt across all regions of the country. Total existing home sales in April including single-family homes, townhomes, condominiums, and cooperative apartments increased 3.4 percent to a seasonally adjusted annual... Mortgage Rates Continue Rise From Recent Lows MBS RECAP: Trying To Find A "Happy Place" After Three Days Of Losses LPS Posts "First Look" at April Mortgage Metrics MBS MID-DAY: Dealing With Weakness Gracefully The Day Ahead: Weekly Momentum Still Building Toward Wednesday Lots of Training Sessions, NMLS Stats and Fraud Numbers; Oakland to Require Foreclosure Fees View: Front Page | Headline Viewer Micro News 2:18 PM: Decent Uptrend In Progress For MBS 11:58 AM: Greeks See Euro Zone Exit Risks as 'Empty Threats' 10:51 AM: Germany, France Draw Battle Lines Over Eurozone Bonds 10:22 AM: Bond Markets Continue Retreat Mode After Morning Data 10:07 AM: ECON: Richmond Fed Index Falls To +4 vs +14 in April 10:04 AM: ECON: Existing Home Sales Rise Slightly Faster Than Expected 12:20 AM: Exclusive: U.S. Lets China Bypass Wall Street For Treasury Orders 3:05 PM: MBS Incrementally Weaker In The Afternoon, Slightly More Reprice Risk »View All Micro News Around the Web The Fed: Senators push banker removal from Fed boards Bond Markets Forcing Europe's Austerity, Pimco's Clarida Says JPMorgan Among Banks Sued For 260235.8 Billion Over Mortgages Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund Man Accused Of Scamming 200 Homeowners, Pushing Some Into Foreclosure Minutes of Board discount rate meetings from April 2 through April 23, 2012 »View More Around the Web Video News Health of Home Buyers FINRA, SEC May Investigate Morgan Stanley: Reuters Shelby on Dodd-Frank, Jamie Dimon Testimony »View More Video News Today's Comments "The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..." "I can already hear state AGs falling over themselves to sue lenders who charge "excessive fees" such as $4K on a $50,000 loan. Flat pricing would..." "The more you regulate a profession the less people will endure the regulation. That's why you see the drop in individual licenses. This system will..." »View More Comments Today's Q&A "Can I negociate out of having an escrow account during a HARP Refi?" "What is a high cost loan" "Can seller ask to see what bank appraisal amount is?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.84 0.03 15YR 3.10 0.01 FHA30YR 3.74 0.01 Jumbo30YR 4.14 0.03 5/1ARM 3.03 0.02 MBS Quotes 30YR FNMA 3 104-10 -0-03 30YR FNMA 4 106-00 -0-02 30YR FNMA 4 107-02 -0-02 30YR FNMA 5 108-12 -0-01 Treasuries 2 YR 0.2945 0.0045 3 YR 0.4165 0.0165 5 YR 0.7635 0.0205 7 YR 1.1888 0.0238 10 YR 1.7774 0.0344 30 YR 2.8719 0.0639 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Mortgage Application 9.18% Mortgage Refinance 12.97% Mortgage Purchase -2.38% 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