Tuesday, August 28, 2012

Foreclosures Down 16% as Servicers Embrace Alternatives; Rates Return to Recent Lows

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Aug 28, 2012 11:21AM

Foreclosures Down 16% as Servicers Embrace Alternatives

CoreLogic's July National Foreclosure Report , released today, reported completed foreclosures during the month totaled 58,000 compared to 62,000 in June and 69,000 in July 2011. The foreclosure inventory, an indicator of homes in any stage of foreclosure, was unchanged from June at 1.3 million homes or 3.2 percent of all homes with a mortgage . On an annual basis, however, this was a decrease from 1.5 million properties or 3.5 percent of mortgaged homes. "The decline in completed foreclosures is...

Aug 28, 2012 2:29PM

Mortgage Rates Fall Back To Recent Lows

Mortgage rates moved moderately lower today in most cases. Although the drop wasn't fast-paced or abrupt, the recent range of rates has been extremely narrow. As such, a merely "medium-sized" move has carried rates just barely beyond their best levels of the past two weeks which are also the best levels since the first few days of the month. The gains aren't sufficient for a change in the Conventional 30yr Fixed Best-Execution rate, which continues at 3.5% . That said, different lenders continue...


Micro News

3:28 PM:

Some Weakness For MBS In Late-Day, Light Liquidity

1:30 PM:

2yr Treasury Auction Passes Without A Trace. MBS Stay Bid

10:07 AM:

ECON: Consumer Confidence Much Lower Than Expected

9:05 AM:

Home Prices Rose in the Second Quarter of 2012 - S&P/Case-Shiller

8:57 AM:

Bond Markets Open Slightly Stronger After Quiet Overnight Session

12:48 PM:

Slow, Steady Grind To Stronger Levels

9:52 AM:

Closer Look At One Of The Fed's Potential Bullets, And Why We're Not Likely To See It

9:00 AM:

Bond Markets Open In Slightly Better Territory. Uneventful Overnight

Around the Web

Video News

Economists Shiller, Case on Home Prices, Fed Policy

Is Mortgage Tax Break Dead?

FDIC Quarterly Banking Report


Today's Comments

Victor Burek

"all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt."

Gina Pogol

"Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..."

Ted Rood

"Great that borrowers won't be forced into deliquency to do a short sale, but they'll still face issues getting a new mortgage. This could fix 1..."

Today's Q&A

"Automatic Transfer of Escrow Account"

"the deed of the house "

"what is the difference between warranty deed and quit deed? "

Monday, August 27, 2012

Thoughts on the Broker Business Model and Current Compensation; Wells' New HARP Policy

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Aug 27, 2012 11:10AM

Thoughts on the Broker Business Model and Current Compensation; Wells' New HARP Policy

Well, this is the week that many Secondary Marketing folks have been dreading. It is the last week of the month after a sell-off, and there are plenty of LO's who are sweating those refi's closing on time. Extension policies will be sent out, or pointed to on websites, and bickered over. Not only that, but the upcoming weekend is a 3-day weekend. Look for operations to be partially staffed as folks take some summer vacation time or head off at the end of the week. Here is a job a little off the beaten...

Aug 27, 2012 2:51PM

Mortgage Rates Unchanged To Slightly Higher To Begin The Week

Mortgage rates moved gently higher today in most cases, though some lenders were unchanged and in rare cases, slightly improved. There was little by way of relevant data or events to motivate market movement as the August "vacation weeks" gets underway. The little movement that was seen was not enough to make any sort of dent in the 3.5% Best-Execution rate that recently returned for 30yr Fixed Conventional loans. (Read More: What is A Best-Execution Mortgage Rate? ) It's tempting to get comfortable...


Micro News

12:48 PM:

Slow, Steady Grind To Stronger Levels

9:52 AM:

Closer Look At One Of The Fed's Potential Bullets, And Why We're Not Likely To See It

9:00 AM:

Bond Markets Open In Slightly Better Territory. Uneventful Overnight

1:48 PM:

Low Volume Volatility Leading MBS Weaker. Additional Reprices

11:44 AM:

ECB mulls setting target bands for bond yields: sources

11:22 AM:

New (Old) Horse Enters The Race, MBS Back To Lows

10:57 AM:

Supportive Bounce At Yesterday's Afternoon Lows

10:41 AM:

MBS Hit Lows Of the Morning, Negative Reprice Risk Increasing

Around the Web

Video News

90 Seconds with Art Cashin: Bernanke or Draghi?

Santelli's Rant on More Quantitative Easing

Countdown to Jackson Hole


Today's Comments

Victor Burek

"all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt."

Gina Pogol

"Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..."

Ted Rood

"Great that borrowers won't be forced into deliquency to do a short sale, but they'll still face issues getting a new mortgage. This could fix 1..."

Today's Q&A

"what is the difference between warranty deed and quit deed? "

"How can I get my appraisal money back after the loan approved first and then denied. "

"Home mortgage for felons"

Friday, August 24, 2012

BofA to Donate Thousand Homes; USDA in Turmoil Again

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Aug 24, 2012 4:50PM

BofA to Donate Thousand Homes to Vets, First Responders

Bank of America has committed to provide 1,000 homes over a three year period to local agencies and non-profit organizations working with injured veterans and first responders . The Bank announced the program today along with the names and information on the two most recent recipients on Friday. The bank said over two dozen homes have already been donated through the program, two in the last few weeks. These homes, one in Tucson, Arizona and the other in San Antonio, Texas were handed over to retired...

Aug 24, 2012 11:53AM

SAFE Act for Depositories and Non-depositories; CMG Halts the HARP; USDA Program in Turmoil Again

As I've gotten older I've developed the unusual ability to stare at something and not see it. I am particularly good at doing this with car keys on a table and then walking out to the car without them - being able to ignore something obvious is a learned trait! I am sure that the CFPB does not want to be accused of missing the obvious, given the large number of public comment periods, and in its latest treatment of mortgage loan originators (MLO's). After all, why should an originator at a depository...


Micro News

1:48 PM:

Low Volume Volatility Leading MBS Weaker. Additional Reprices

11:44 AM:

ECB mulls setting target bands for bond yields: sources

11:22 AM:

New (Old) Horse Enters The Race, MBS Back To Lows

10:57 AM:

Supportive Bounce At Yesterday's Afternoon Lows

10:41 AM:

MBS Hit Lows Of the Morning, Negative Reprice Risk Increasing

9:17 AM:

Reiterating The Importance Of Early September Events

8:59 AM:

Bond Markets Extend Gains After Opening Slightly Stronger

8:46 AM:

ECON: Durable Goods Print Strong Headline, But Weak Internals

Around the Web

Video News

Santelli's Take on Dropping Yields

Liesman Explains the Gold Standard

Santelli's Morning Bond Update


Today's Comments

Victor Burek

"all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt."

Gina Pogol

"Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..."

Ted Rood

"Great that borrowers won't be forced into deliquency to do a short sale, but they'll still face issues getting a new mortgage. This could fix 1..."

Today's Q&A

"How can I get my appraisal money back after the loan approved first and then denied. "

"Out of all of writing capabilities, could there be a person a lot of money-making?"

"Home mortgage for felons"