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Real Estate News |
Consumer Mortgage Choice Act Under Fire From CRL
Fri, 17 May 2013 20:56:00 GMT
Posted To: MND NewsWireThe Center for Responsible Lending (CRL) has released a brief issues paper voicing objections to HR 1077 , The Consumer Mortgage Choice Act. The bill currently sits in the House Financial Services Committee of which its sponsor..[read more]
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MBS RECAP: Reminded of Volatility via Friday Cliff-Diving
Fri, 17 May 2013 20:46:57 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary MBS took a running start downhill this morning before reaching the edge of the cliff marked by yesterday morning's "ledge" of prices. This was the 102-28 area hit after yesterday's 8:30..[read more]
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Mortgage Rates Jump Back To Recent Highs, More Volatility Ahead
Fri, 17 May 2013 19:51:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved higher at their fastest pace in two weeks , after having their best day in more than 6 weeks just yesterday. The net effect for rates is not good, leaving them at their highest levels of the week and..[read more]
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Home Sales Would Rise 15-20 Percent With 720 FICO - NAR
Fri, 17 May 2013 19:18:19 GMT
Posted To: MND NewsWireLawrence Yun, chief economist for the National Association of Realtors® (NAR) said Thursday it might be time to " dial down the credit stringency ." If the credit scores required for a mortgage returned to the more normal l..[read more]
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Kickback Accusations Resolved by CFPB Consent Filing
Fri, 17 May 2013 18:26:00 GMT
Posted To: MND NewsWireA Texas homebuilder will surrender more than $100,000 to the Consumer Finance Protection Agency under a consent order filed on Friday. Paul Taylor, a principal of Paul Taylor Homes Unlimited and Paul Taylor Corporation was accu..[read more]
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Senator on a Mission to Change the Way Short Sales Affect Credit Reporting
Fri, 17 May 2013 18:04:21 GMT
Posted To: MND NewsWireSenator Bill Nelson (D-FL has asked for an investigation and possible "crackdown" on the manner in which short sales are impacting consumer credit files . Nelson said that short sales are now often reported to the credit agenci..[read more]
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CFPB Reminds Lenders of Changes to Mandatory Arbitration Provisions
Fri, 17 May 2013 17:54:24 GMT
Posted To: MND NewsWireThe Consumer Finance Protection Agency (CFPB) reminded lenders today that new Truth in Lending Act (TILA) rules banning mandatory arbitration provisions go into effect on June 1, 2013 so all documentation for new loans should b..[read more]
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Ginnie I, II, or...III: Combining the Programs and the Advantages to Originators; Credit Unions Weigh in on QM
Fri, 17 May 2013 17:18:31 GMT
Posted To: Pipeline PressAmong the nation's 30 largest metro areas included in a recent Zillow study, Pittsburgh (39%), Tampa (33%), New York (30%), Cleveland (29%) and Miami (29%) had the highest percentage of free-and-clear homeowners. It appears t..[read more]
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MBS MID-DAY: Third Time is NOT the Charm for Bond Markets
Fri, 17 May 2013 16:51:57 GMT
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Here we are again... All but a few days this week have seen morning sell-offs that have required negative reprice alerts for MBS Live subscribers . As previously intimated, such alerts de..[read more]
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The Day Ahead: Winding Down and Range Finding; 2 Cool Charts
Fri, 17 May 2013 11:53:00 GMT
Posted To: MBS CommentaryThe bulk of the week's activity has passed, from a calendar standpoint, and this morning's Consumer Sentiment data is all that's left on the domestic agenda. Even in the overnight session, there are no interesting data sets, ..[read more]
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MBS RECAP: Purposeful Rally Helps Define Pre-FOMC Range
Thu, 16 May 2013 20:47:37 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Yesterday and again early this morning (before the data), we discussed the potential significance of yesterday's prices failing to make a new low for the first time in 9 days. It's not ..[read more]
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Mortgage Rates Move Convincingly Lower
Thu, 16 May 2013 20:15:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved lower at their fastest pace in 6 weeks today, erasing most of the losses seen so far this week. Not all lenders have adjusted pricing at the same pace, however, and best-execution is still 3.625% for..[read more]
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Housing Bubble Unlikely, Home Price Appreciation Should Slow - CoreLogic
Thu, 16 May 2013 17:15:15 GMT
Posted To: MND NewsWireCoreLogic said today that home prices are projected to increase 3.9 percent on an annualized basis between the fourth quarter of 2012 and the same quarter in 2017. However, a new housing bubble is not likely as market dynamics ..[read more]
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MBS MID-DAY: Bounce Back/Rally Gains Traction
Thu, 16 May 2013 15:50:35 GMT
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Hopefully, in talking about the half point rally in MBS we're not unintentionally "jinxing" it, but yeah--there's a half point rally underway in MBS. This all started out innocently enoug..[read more]
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Housing Starts Fall 16.5 percent, Permits up
Thu, 16 May 2013 13:51:00 GMT
Posted To: MND NewsWireThe U.S. Census Bureau and the Department of Housing and Urban Development said today that new housing starts were down in April by 16.5 percent compared to March. Construction began on privately owned residential units at a se..[read more]
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Time to Buy Fannie/Freddie Stocks Yet? Mortgage Litigation Tally, Another LPS Settlement
Thu, 16 May 2013 13:27:55 GMT
Posted To: Pipeline Press"Talent hits a target no one else can hit; genius hits a target no one else can see." Hedge funds and investment banks have a lot of talent, and periodicals note how some prominent hedge funds have been buying preferred share..[read more]
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California Home Prices Soaring on Falling Supply, Pent-up Demand
Thu, 16 May 2013 13:03:26 GMT
Posted To: MND NewsWireThe median price of homes in California topped $400,000 in April for the first time in five years. The California Association of Realtors® (C.A.R.) said the increases are fueled by high demand and tight inventories of avail..[read more]
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Builders Look to Fill Supply Void Left by Declining Foreclosures
Thu, 16 May 2013 12:59:17 GMT
Posted To: MND NewsWireRealtyTrac has undertaken a new type of analysis, comparing building permit data from the Department of Housing and Urban Development (HUD) with foreclosure starts for the same time period at the national, state, and city level..[read more]
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The Day Ahead: Economic Data Deluge, Part 2; Chance to Confirm Bounce Part 1
Thu, 16 May 2013 12:01:00 GMT
Posted To: MBS CommentaryIf the presence of greater amounts of economic data was a benefit for bond markets on Wednesday (and we're not sure that it was), then Thursday has even greater potential to confirm or reject that potential correlation. The b..[read more]
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Mortgage Rates Unchanged To Slightly Higher
Wed, 15 May 2013 20:51:00 GMT
Posted To: Mortgage Rate WatchMortgage rates had a good day, despite the fact that the day-over-day change from yesterday is flat to slightly higher. Part of the reason for the higher average rate (by .01%) today has to do with late day negative repr..[read more]
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MBS RECAP: Plenty of Volatility, But Yesterday's Lows Defended
Wed, 15 May 2013 20:36:01 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary It's about 24 hours too soon to start getting excited, but for the very first time in May, MBS did NOT make new lows today! That's not for lack of trying though... Fannie 3.0s were off ..[read more]
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Foreclosure Prevention Outnumbered Foreclosures 2 to 1 in First Quarter
Wed, 15 May 2013 19:58:41 GMT
Posted To: MND NewsWireNearly a quarter million homeowners received mortgage loan modifications through HOPE NOW during the first quarter of 2013. The voluntary private sector alliance of mortgage servicers, investors, mortgage insurers, and non-prof..[read more]
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Credit Unions Plan on Scaling Back non-QM Mortgages
Wed, 15 May 2013 19:44:59 GMT
Posted To: MND NewsWireNearly half of members responding to a National Association of Federal Credit Unions survey say they are already planning to drop loans from their product line that do not meet Qualified Mortgage (QM) guidelines. Members were a..[read more]
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After 5-Year Pause FHFA Issues Executive Compensation Rule
Wed, 15 May 2013 19:37:37 GMT
Posted To: MND NewsWireThe Federal Housing Finance Agency ( FHFA ) published an interim final rule in the Federal Register on Tuesday which may mean that the long drawn-out saga over compensation for executives of the Federal Home Loan Banks (FHLBank..[read more]
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CFPB Releases Video Series to Better Explain Mortgage Rules
Wed, 15 May 2013 19:07:00 GMT
Posted To: MND NewsWireUnder Dodd-Frank, the Consumer Finance Protection Bureau ( CFPB ) was required to issue several mortgage rules , ostensibly intended to 'protect consumers.' While the extent to which these rules actually accomplish 'protection'..[read more]
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