Already At All-Time Lows, Rates Continue Lower At Unprecedented Pace

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Sep 24, 2012 2:05PM Already At All-Time Lows, Mortgage Rates Continue Lower At Unprecedented Pace Mortgage rates begin the week at new all-time lows yet again after falling significantly from last week's series of previous all-time lows. Markets have been quite calm during domestic hours, but interest rates moved slightly lower overnight before domestic trading hours. With bond markets holding steady to slightly improved since then, mortgage lenders continue to pass on those improvements in the form of more aggressive rate sheets. Despite recent press indicating that QE3 isn't affecting mortgage... Sep 24, 2012 2:16PM OIG Finds GSEs at Risk from Counterparties; Advices Contingency Plans The Federal Housing Finance Agency's Office of Inspector General ( FHFA OIG ) has recommended that FHFA issue standards for the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to develop contingency plans for its high risk sellers and servicers and finalize its examination guidance regarding contingency planning. FHFA OIG recently looked how well FHFA is managing and overseeing the GSEs in areas related to the risk posed to the GSEs by their sellers and servicers (counterparties... MBS RECAP: Quiet Grind To Best Ever Levels Stearns' Anti-steering Form for Brokers; FHA and Condos; Mass of Servicing Rules LPS Preview Shows Decline in Delinquincies and Shadow Inventory MBS MID-DAY: Quietly Advancing To All-Time Highs On Slow Morning The Week Ahead: Relatively Busy Week Of Data, Plus Treasury Auction And Month-End Trading GAO: 160 Entities Involved in Housing Assistance View: Front Page | Headline Viewer Micro News 12:51 PM: Eerily Quiet Session Continues, MBS Inch A Few Ticks Higher 9:04 AM: Bond Markets Slightly Stronger Overnight On EU Data 3:06 PM: Fannie 3.0's Set To Close At All Time Highs, But Off Best Levels 12:48 PM: MBS Continue Pushing All-Time Highs; Ongoing Positive Reprice Potential 9:30 AM: MBS Outperforming Early Amid Lack Of Data, Treasury Weakness 1:11 PM: Record Negative Yield 10yr TIPS Means Pressure On MBS, But Not Panic 12:07 PM: ECON: Household Debt Rises At Fastest Rate Since Q1 2008 10:43 AM: MBS Hit Highs Near Rate Sheet Time, Increasing Defensiveness »View All Micro News Around the Web Williams Says Fed to Pursue QE3 Until Job Market Rebounds HUD chief, Nevada AG tout loan help for homeowners More Bank Layoffs Coming: 'Bad as I've Seen It': Whitney Fed may buy other assets, Williams says Realtors Lead Election Giving as Housing Revives: BGOV Barometer IMF's Lagarde Urges Europe to Implement Crisis Plans »View More Around the Web Video News High-End Foreclosures Start to Fall The Housing Disconnect Eli Broad on Taxing the Wealthy, U.S. Housing »View More Video News Today's Comments "Gosh, lax oversight and shoddy underwriting on a HUD program, what a surprise. If 76% of the 80 claims sampled contained material errors, have to expect..." "Rick-so well said. The entire boom was driven by fast money schemers who realize how easy it was to game price valuations from automated systems that couldn't..." "Sensible alludes to common sense, and underwriting software doesn't have common sense. Software is only as good as its programmers, and 10 years ago..." »View More Comments Today's Q&A "When is closing confirmed" "What's the best kind of transfer for real estate from parent to adult child?" "HARP Refi - 15 year - 3% with $3200 closing costs scheduled to close tomorrow. Cancel and wait?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.38 -0.07 15YR 2.75 -0.05 FHA30YR 3.35 -0.02 Jumbo30YR 3.91 -0.07 5/1ARM 2.95 -0.02 MBS Quotes 30YR FNMA 3 107-08 0-05 30YR FNMA 4 107-24 0-02 30YR FNMA 4 108-14 0-03 30YR FNMA 5 109-09 0-01 Treasuries 2 YR 0.2662 0.0042 3 YR 0.3452 -0.0028 5 YR 0.6540 -0.0160 7 YR 1.0962 -0.0358 10 YR 1.7146 -0.0404 30 YR 2.9007 -0.0463 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Home Vacancy -4.55% Homeownership -0.15% Existing Home -0.80% New Home Prices -1.39% FHFA Home Price 0.68% Construction -0.93% 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

Loan Processing Time Up 25% Over 2011, Refi's to Blame

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Sep 19, 2012 11:29AM Loan Processing Time Up 25% Over 2011, Refi's to Blame The time needed to close a mortgage loan has increased by almost 25 percent over the last year, from an average of 40 days to 49 and it was refinances that drove the change. According to the Ellie Mae Origination Insight Report for August released this morning, the time needed to close a loan for purchase increased from 43 days in August 2011 to 47 days in August 2012 while during the same period the average time required to close a refinancing increased by two full weeks to 51 days. Sixty-one percent... Sep 19, 2012 11:27AM Dodd Frank Rulemaking Update; NAR and Builders Suggest Looser Lending Standards - Surprised? "Rob , how the heck are we supposed to know what any financial asset is worth? For many years the government has given farm subsidies, sugar cane subsidies, soybean or corn subsidies - and now the agency MBS subsidy . And now we have one 'arm' of the government increasing agency gfees by roughly .5 in price, hurting agency borrowers, and another 'arm' of the government saying it will buy a total of $60-70 billion a month of agency mortgage backed securities, helping agency borrowers. With last Thursday... Mortgage Rates Continue Grinding Into New All-Time Lows MBS RECAP: Further Gains Amid Another Uninspired Session Remodeling Rebounds after Slow Summer Start Existing Home Sales Jump, Median Prices Continue To Rise MBS MID-DAY: Rallying In Spite Of Data, In Concert With Other Markets Housing Starts Rise Less than Expected as Multi-family Drags View: Front Page | Headline Viewer Micro News 2:30 PM: MBS Back Near Highs After Late Morning Bounce 11:29 AM: MBS Down Roughly An Eighth From Rate Sheet Time 10:10 AM: ECON: August Existing-Home Sales and Prices Rise 9:09 AM: Bond Market Steady At Stronger Levels Following Housing Starts 8:36 AM: ECON: Housing Starts Miss Consensus, But Single-Family Rises 4:17 PM: Fannie Mae Issues Update On Uniform Appraisal Dataset Compliance 1:09 PM: Fed's Dudley Provides Concise Mission Statement For QE3 10:45 AM: Slightly Cautious Heading Into Fed Buyback Completion »View All Micro News Around the Web MBIA Accuses Bear Stearns (JPM) Of Intentionally Concealing Mortgage Due Diligence Data Fifth Circuit Court of Appeals Upholds Ruling in MERS' Favor Regulator warns banking union could split Europe FDIC's Hoenig Says Banks May Return to Pre-2008 Risky Behaviors Goldman Sachs's Blankfein Would 'Go Long' on Real Estate What Has Ben Bernanke Done to the Mortgage Market? »View More Around the Web Video News Two Key Housing Numbers U.S. Housing Construction Boom Seen by Stein Welch on Enormous Burst in Rental Housing »View More Video News Today's Comments "Bones:--funny you used that Einstein quote. What needs to go away is the outmoded inefficient easily gamed valuation system we use for residential real..." "Surprising volume drop considering HARP was in full swing in 2011. FHA streamlines, however, were immensely surpressed by HUD's increased MIP charges..." "HARP needs to go away. Enough is enough. When the housing bubble burst in 2006 the taxpayers were left to pay for much of the fallout. The program is risky..." »View More Comments Today's Q&A "what happens when your lender can not produce a complete payment history" "Fannie Mae multistate 1-4 family rider; improper use" "Quit claim deed and mortgage." »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.50 -0.02 15YR 2.84 -0.01 FHA30YR 3.40 -0.02 Jumbo30YR 4.02 -0.03 5/1ARM 2.99 0.00 MBS Quotes 30YR FNMA 3 106-15 0-07 30YR FNMA 4 107-08 0-04 30YR FNMA 4 108-02 0-01 30YR FNMA 5 109-04 0-01 Treasuries 2 YR 0.2621 0.0041 3 YR 0.3527 0.0027 5 YR 0.6862 -0.0158 7 YR 1.1597 -0.0333 10 YR 1.7735 -0.0385 30 YR 2.9604 -0.0486 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Home Vacancy -4.55% Homeownership -0.15% Existing Home -0.80% New Home Prices -1.39% FHFA Home Price 0.68% Construction -0.93% 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

Mortgage Rates Return To All-Time Lows; Lending Fell 10% in 2011

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Sep 18, 2012 1:25PM Mortgage Rates Return To All-Time Lows Mortgage rates moved slightly lower again today. Much like yesterday, not all lenders' rates were better and a few were priced marginally worse. In a departure from yesterday, today's overall improvement was good enough to move the average rate offerings to NEW all-time lows. The difference between today and July 23rd is minimal at best, however, and the prevailing best-execution rates continue to straddle 3.375% and 3.5%. (Read More: What is A Best-Execution Mortgage Rate? ) The extent to which... Sep 18, 2012 1:58PM Mortgage Lending Fell 10% in 2011 to Lowest Point in 16 Years Data on lending activity during 2011 at 7,632 financial institutions that are covered by the Home Mortgage Disclosure Act ( HDMA ) was released today and showed continued heavy reliance on FHA-backed mortgage loans. The data came from the Federal Financial Institutions Examination Council ( FFIEC ) and covered banks, savings associations, credit unions, and mortgage companies. The activity monitored including mortgage applications, originations, purchases and sales of loans. The total number of originated... MBS RECAP: Surprisingly Uneventful Session Leaves Prices Slightly Higher Previewing this Week's Construction and Home Sales Reports Home Builder Confidence Doubles September 2011 Measure Despite Increased Borrowing and Demand Credit Risk Declines MBS MID-DAY: MBS Holding Gains In Fairly Narrow Range Pool of Potential Borrowers Deep; Why a Company Would Close a Division; Lots of Training Coming Up View: Front Page | Headline Viewer Micro News 4:17 PM: Fannie Mae Issues Update On Uniform Appraisal Dataset Compliance 1:09 PM: Fed's Dudley Provides Concise Mission Statement For QE3 10:45 AM: Slightly Cautious Heading Into Fed Buyback Completion 10:03 AM: ECON: Builder Confidence Highest Since June 2006 - NAHB 9:10 AM: Bond Markets Steady In Stronger Territory, Unaffected By Data 8:37 AM: ECON: Trade Gap Narrows More Than Expected 2:04 PM: MBS Down An Eighth From Rate Sheet Time, Negative Risks Increase 9:40 AM: Bond Markets Continue Holding Moderate Gains In Low Volume »View All Micro News Around the Web Coca-Cola Heirs Lose $37 Million in Foreclosure Crisis Ninth Circuit Court of Appeals Upholds Two Rulings in MERS' Favor FICO® Scores Reflect Slow Economic Recovery NY Fed: Dudley Speech on Regional and National Economic Conditions Freddie Mac: UCDP October Release Notification Shiller: 'Not Ready Yet' to Call Housing Bottom »View More Around the Web Video News Housing: Returning to 'Normal'? Fannie Mae Wasting Taxpayer Money? Shiller: Housing Starting to Look Better, but Too Soon to Tell »View More Video News Today's Comments "HARP needs to go away. Enough is enough. When the housing bubble burst in 2006 the taxpayers were left to pay for much of the fallout. The program is risky..." "Simple solution Mr. Yun: Share in the buyback risk. If the market has turned, put 10% skin in the game out of every commission to show your faith that..." "You're absolutely right, John. I cringe when I think of private sector financing. Contrary to DeMarco's reasoning for higher g-fees, during the..." »View More Comments Today's Q&A "Fannie Mae multistate 1-4 family rider; improper use" "Quit claim deed and mortgage." "is it smart to refinance to save 1.25%" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.52 -0.01 15YR 2.85 0.00 FHA30YR 3.42 -0.02 Jumbo30YR 4.05 -0.02 5/1ARM 2.99 0.00 MBS Quotes 30YR FNMA 3 106-08 0-04 30YR FNMA 4 107-04 0-03 30YR FNMA 4 108-01 0-00 30YR FNMA 5 109-03 0-00 Treasuries 2 YR 0.2580 0.0040 3 YR 0.3499 -0.0101 5 YR 0.7022 -0.0158 7 YR 1.1927 -0.0263 10 YR 1.8118 -0.0312 30 YR 3.0094 -0.0266 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Home Vacancy -4.55% Homeownership -0.15% Existing Home -0.80% New Home Prices -1.39% FHFA Home Price 0.68% Construction -0.93% 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