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  • Wed, Apr 9 2014
  • 11:29 AM » CFPB forum on the mortgage closing process in Washington, DC
    Published Wed, Apr 09 2014 11:29 AM by CFPB
    We'll host a forum on the mortgage closing process on Wednesday, April 23 at 1:30 p.m. EDT. The event will feature remarks from Director Richard Cordray, as well as a discussion with consumer groups, industry representatives, and members of the public. You can RSVP to attend or watch the livestream.
  • 10:45 AM » A sign the labor market is improving
    Published Wed, Apr 09 2014 10:45 AM by CNBC
    The rate at which Americans are starting new businesses declined last year, suggesting more are finding jobs instead.
  • 10:43 AM » Wholesale inventories up, sales rebound
    Published Wed, Apr 09 2014 10:43 AM by Reuters
    WASHINGTON (Reuters) - U.S. wholesale inventories rose at a slower pace in February than in the prior month, which could support views that restocking will not help the economy in the first quarter.
  • 10:42 AM » Freddie Mac Extends Mortgage Relief to Washington Borrowers Affected by Disasters
    Published Wed, Apr 09 2014 10:42 AM by freddiemac.mwnewsroom.com
    Freddie Mac Extends Mortgage Relief to Washington Borrowers Affected by Disasters
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:06 AM » Fed Officials Unclear on Why They Agreed On Rate Strategy
    Published Wed, Apr 09 2014 10:06 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Wednesday, April 9 Sign up for the newsletter: http://on.wsj.com/grandcentralsignup. Federal Reserve officials agreed on a long-term interest rate strategy at their policy meeting in March, but it's still not clear why they agreed on it. The strategy is to keep short-term interest rates, now near zero, well below their long run equilibrium of 4% even after inflation and unemployment have returned to normal levels. Fed Chairwoman Janet Yellen said in a press conference after the meeting that officials had "different views about why this is likely to be true."
  • 9:49 AM » Treasurys slide before auction, Fed minutes
    Published Wed, Apr 09 2014 9:49 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasury prices slid Wednesday, on pace to snap a four day win streak ahead of an auction of benchmark notes and minutes from the Federal Reserve's last policy meeting. The 10-year note yield, which rises as prices fall, was up 3 basis points on the day at 2.710%, according to Tradeweb. The 30-year bond yield rose 2 basis points to 3.562%, and the 5-year note yield rose 3 basis points to 1.692%. The Treasury Department sells $21 billion in 10-year notes as 1 p.m. Eastern. At 2 p.m., the Fed will release minutes from a meeting last month in which it opted to shift the way it communicates its low rate message.
  • 9:33 AM » Financial advisors say keep bonds but stay alert
    Published Wed, Apr 09 2014 9:33 AM by CNBC
    Given a bond market selloff in 2013 and a likely rise in interest rates, financial advisors caution clients to keep bonds without getting complacent.
  • 9:32 AM » FDIC Research Study on Long-term Bank Consolidation Demonstrates the Ongoing Resilience of Community Banks
    Published Wed, Apr 09 2014 9:32 AM by content.govdelivery.com
    Press Release FDIC Research Study on Long-term Bank Consolidation Demonstrates the Ongoing Resilience of Community Banks FOR IMMEDIATE RELEASE April 9, 2014 Media Contact: David Barr (202) 898-6992 dbarr@fdic.gov The Federal Deposit Insurance Corporation (FDIC) today released a research study on long-term consolidation in banking and the implications of this trend for community banks. Drawing from data over the last thirty years, the paper finds that community banks have remained highly resilient amid the long-term trend of banking industry consolidation. A key finding of the study is that institutions with assets between $100 million and $10 billion – most of which can be considered community banks – have increased in both number and in total assets since 1985. The number of banks with assets between $100 million and $1 billion increased by 7 percent between 1985 and 2013, while the number of banks with assets between $1 billion and $10 billion increased by 5 percent. These groups of institutions also experienced growth in terms of total assets. "The FDIC study clearly demonstrates the strength and resilience of the community bank sector and supports the conclusion that community banks will continue to play a vital role in the financial system of the United States for the foreseeable future," said FDIC Chairman Martin J. Gruenberg. The study, The Continued Resiliency and Importance of Community Banks Amid Long-Term Industry Consolidation, will be published in the next edition of FDIC Quarterly . Attachment: Community Banks Remain Resilient Amid Industry Consolidation - PDF (PDF Help) # # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 6,812 as of December 31, 2013. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 7:55 AM » Plunging refinances depress mortgage applications
    Published Wed, Apr 09 2014 7:55 AM by CNBC
    The volume of mortgage applications fell last week despite a steady average rate on the commonly used 30-year fixed mortgage.
  • 7:53 AM » Nationstar Sees More Deals as Regulators Investigate - Bloomberg
    Published Wed, Apr 09 2014 7:53 AM by Bloomberg
    Nationstar Sees More Deals as Regulators Investigate Bloomberg As the nation's largest banks come into compliance with the terms of a 2012 settlement over allegations of foreclosure abuses, the lenders are selling their servicing assets to companies like Nationstar Mortgage Holdings Inc. or Ocwen Financial Corp. Close.
  • 7:53 AM » Mortgage applications fell last week as refinance down: MBA
    Published Wed, Apr 09 2014 7:53 AM by Reuters
    NEW YORK (Reuters) - Applications for U.S. home mortgages fell last week as refinancing slipped, an industry group said on Wednesday.
  • 7:52 AM » Futures flat after Alcoa results; Fed minutes on tap
    Published Wed, Apr 09 2014 7:52 AM by Reuters
    NEW YORK (Reuters) - U.S. stock index futures were flat on Wednesday, after the S&P 500 managed to halt a three-day losing skid, in the wake of earnings from Alcoa and ahead of the minutes from the last Federal Reserve meeting.
  • Tue, Apr 8 2014
  • 9:13 PM » Will the Fed rock the boat again?
    Published Tue, Apr 08 2014 9:13 PM by CNBC
    The minutes from the Fed's last meeting will be a highlight of the week when released Wednesday.
  • 9:12 PM » A week before Tax Day, IRS misses crucial Windows XP deadline
    Published Tue, Apr 08 2014 9:12 PM by Washington Post
    Microsoft on Tuesday stopped providing free support and security updates for Windows XP. The long-planned expiration of the popular operating systems has sent millions of users scrambling to upgrade their computer systems. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:12 PM » When Wall Street becomes a landlord
    Published Tue, Apr 08 2014 9:12 PM by CNN
    Read full story for latest details.
  • 9:12 PM » Fed's Evans warns of risk of withdrawing stimulus too quickly
    Published Tue, Apr 08 2014 9:12 PM by Reuters
    WASHINGTON (Reuters) - There is a real risk that the Federal Reserve could close the tap for monetary stimulus too quickly, a top official at the U.S. central bank said on Tuesday.
  • 9:12 PM » Corrections: Treasurys notch four-day win streak
    Published Tue, Apr 08 2014 9:12 PM by Market Watch
    An earlier version of this story gave an incorrect projected drop in 30-year bond yields that was forecasted by Saxo Bank's Steen Jakobsen. The story has been corrected.
  • 9:12 PM » Debt settlement firm pleads guilty in first CFPB referral
    Published Tue, Apr 08 2014 9:12 PM by Reuters
    NEW YORK (Reuters) - A debt settlement company and its operator on Tuesday pleaded guilty in New York to conspiracy charges of mail and wire fraud, capping the first criminal case referred to U.S. prosecutors by the Consumer Financial Protection Bureau.
  • 9:08 PM » Post-crisis rule requires big U.S. banks to raise $68 billion
    Published Tue, Apr 08 2014 9:08 PM by Reuters
    WASHINGTON (Reuters) - The eight biggest U.S. banks must raise a total of about $68 billion in capital by 2018 to comply with a new rule designed to prevent another financial crisis, prompting industry complaints that international standards are less restrictive and give their global competitors an advantage.
  • 9:03 PM » Allstate, BofA agree to end toxic mortgage lawsuit
    Published Tue, Apr 08 2014 9:03 PM by Reuters
    NEW YORK (Reuters) - Allstate Corp and Bank of America Corp's Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday.
  • 4:21 PM » Simplify U.S. financial reform rules, Fed's Plosser urges
    Published Tue, Apr 08 2014 4:21 PM by Reuters
    PHILADELPHIA (Reuters) - A top U.S. central banker on Tuesday criticized the complexity of a nearly four-year-old financial-reform law, urging simpler and more transparent laws for Wall Street that would rely more on the free market to discipline banks and other firms.
  • 4:17 PM » Fed could cut rates to combat joblessness: Kocherlakota
    Published Tue, Apr 08 2014 4:17 PM by Reuters
    ROCHESTER, Minnesota (Reuters) - The Federal Reserve should do more to boost both inflation and jobs, a top Fed official said on Tuesday, including possibly pushing its main interest rate even lower or cutting the rate it pays banks on excess reserves kept at the U.S. central bank.
  • 4:10 PM » During Fair Housing Month, it's about "A Matter of Place"
    Published Tue, Apr 08 2014 4:10 PM by blog.hud.gov
    When I watched the documentary “A Matter of Place” produced by the Fair Housing Justice Center, I was reminded of why our work to end housing discrimination is as relevant today as it was when the Fair Housing Act was passed in 1968. Despite the perception of many, this powerful short film shows us that […]
  • 2:54 PM » Globex trading shut: CME
    Published Tue, Apr 08 2014 2:54 PM by CNBC
    CME Group said that its Globex electronic trading system was shut down on Tuesday afternoon due to technical issues.
  • 2:54 PM » Kocherlakota on the jobless rate
    Published Tue, Apr 08 2014 2:54 PM by CNBC
    The Fed is allowing the economy to waste rosources by letting inflation stay too low and unemployment too high, a top official says.
  • 2:53 PM » Fed's Plosser favors release of more firm information
    Published Tue, Apr 08 2014 2:53 PM by Market Watch
    WASHINGTON (MarketWatch) -- In a speech on bank regulation and supervision, Philadelphia Fed President Charles Plosser said he favored publicly releasing more details about a firm's situation. "Revealing more information about individual firms will reduce the likelihood of contagion and runs, as such events generally arise from a lack of information, rather than too much information, about the riskiness of an individual firm," he said. Plosser also suggested that the Fed want to require firms to issue subordinated debt, so that supervisors could monitor a bank's subordinated debt spreads for indications of emerging risk. Plosser spoke of the need for simple rules, arguing that regulatory arbitrage may have pushed banks into taking actions that led to the financial crisis.
  • 1:21 PM » Treasurys hold gains after mixed 3-year auction
    Published Tue, Apr 08 2014 1:21 PM by Market Watch
    NEW YORK (MarketWatch) -- The Treasury Department sold $30 billion in 3-year notes Tuesday at a yield of 0.895%. Bidders offered to buy 3.36 times the amount of debt sold, compared to an average of 3.33 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 27.3%, versus 34.3% in recent sales. Direct bidders, which include domestic money managers, purchased another 24.0%, versus an average of 17.7%. The broader bond market held onto slight gains after the auction. Yields on 10-year notes , which move inversely to prices, fell a basis point on the day to 2.686%.
  • 1:21 PM » Why Is Fannie Mae Evicting the Coronel Family?
    Published Tue, Apr 08 2014 1:21 PM by The Huffington Post
    This Thursday, facing immediate eviction, long-time homeowners Jaime and Juana Coronel will ask Fannie Mae CEO Timothy Mayopoulos one more time why the company would rather evict the family than work with them to repurchase their modest home (at current value) in Azusa, a blue-collar suburb of Los Angeles. Accompanied by a broad group of supporters, Jaime and Juana will announce that they have allegedly pre-qualified with a lender for a mortgage to purchase their home at 18417 East Ghent Street. They demand to know why Fannie Mae would put them out in order to sell it to someone else at the same price. Jaime and Juana will describe what has become a frequent nightmare for homeowners with loans backed by Fannie Mae. The press event will begin at 1:30 pm. For more information, contact ACCE organizer Peter Kuhns at (213) 272-1141. Jaime, who recently suffered a stroke, will also announce that he and his family are determined to fight until the very end to save their home -- and supporters will begin setting up tents in their front lawn. The Coronel family is part of the Alliance of Californians for Community Empowerment (ACCE), an activist group that has an impressive track record of successfully challenging Fannie Mae and big banks when they seek to evict working-class homeowners. They are part of a growing national movement to challenge Wall Street and the financial industry, whose predatory practices resulted in millions of Americans losing their homes and millions more still "underwater" with homes worth less than their mortgages. The Coronels worked their entire lives, in landscaping and factory work, to afford the home where they raised their four kids. In 2010, after Jaime's hours were cut at work, Fannie Mae foreclosed on them even though they allegedly had the income to qualify for a loan modification. Since the foreclosure, Jaime and Juana have paid the equivalent of a modified mortgage payment in rent to Fannie Mae in order to continue living in...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 1:18 PM » Realtors and soybean farmers agree: Drone rules are overdue
    Published Tue, Apr 08 2014 1:18 PM by Washington Post
    Beer delivery drones and tacocopters: For businesses, it's a future that can't come soon enough. The only thing holding them back? An old Federal Aviation Administration ban on the use of commercial drones in U.S. airspace. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 12:58 PM » Does the VIX fully reflect fear in the market?
    Published Tue, Apr 08 2014 12:58 PM by CNBC
    There's market fear, but it's not being expressed through the CBOE Volatility Index. Traders are going other places to buy protection.
  • 12:57 PM » Real estate firm targets underserved sweet spot
    Published Tue, Apr 08 2014 12:57 PM by CNBC
    A new site hopes to come to the rescue of small-business tenants who need smaller office space.
  • 11:49 AM » U.S. job openings hit six-year high in February
    Published Tue, Apr 08 2014 11:49 AM by Reuters
    WASHINGTON (Reuters) - U.S. job openings jumped to their highest level in six years in February, pointing to a steadily improving labor market.
  • 11:46 AM » Brown Says Fannie Mae Revamp Won't Become Law This Year - Bloomberg
    Published Tue, Apr 08 2014 11:46 AM by Bloomberg
    Brown Says Fannie Mae Revamp Won't Become Law This Year Bloomberg Senator Sherrod Brown said a comprehensive revamp of the U.S. housing finance system won't become law this year and called for simpler changes to Fannie Mae and Freddie Mac. Brown, an Ohio Democrat and a member of the Senate Banking Committee ...
  • 11:00 AM » Real Estate: Can Falling Pay Support Rising Home Values?
    Published Tue, Apr 08 2014 11:00 AM by www.ourbroker.com
    The real estate market is always a jumble of facts, stats and rumors. Each year seems to produce a fresh and fertile crop of worries and troubles, so I’d like to take a look at today’s pressing issues to see what’s real and what’s not. And get ready because there is one worry which is […] The post Real Estate: Can Falling Pay Support Rising Home Values? appeared first on OurBroker .
    Click Here to Read the Full Article

    Source: www.ourbroker.com
  • 11:00 AM » Windows XP support ends today. But it's still used by everywhere from governments to ATMs.
    Published Tue, Apr 08 2014 11:00 AM by Washington Post
    After 12 long years, today is D-Day for Microsoft's Windows XP operating system. Starting today, free support and updates for the software will stop. But who is still using an operating system released over a decade ago? Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:00 AM » What me worry? Many will still use XP
    Published Tue, Apr 08 2014 11:00 AM by CNBC
    "Upgrading is going to be your only option at some point," one cybersecurity expert advises users of Maicrosoft's XP.
  • 10:01 AM » Margin Call Plan on Mortgage Bonds Draws Protest: Credit Markets - Bloomberg
    Published Tue, Apr 08 2014 10:01 AM by Bloomberg
    Margin Call Plan on Mortgage Bonds Draws Protest: Credit Markets Bloomberg After taxpayers rescued American International Group Inc. in 2008 when it couldn't make... Read More. After taxpayers rescued American International Group Inc. in 2008 when it couldn't make good on soured trades guaranteeing subprime mortgage debt, ...
  • 9:58 AM » What Slowdown? Eight Housing Markets That Are Speeding Up
    Published Tue, Apr 08 2014 9:58 AM by blog.redfin.com
    Buyers should prepare themselves: These markets are shaping up to be even more competitive than they were in 2013. Read More The post What Slowdown? Eight Housing Markets That Are Speeding Up appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 9:47 AM » Mortgage Forgiveness Debt Relief Stuck On Capitol Hill
    Published Tue, Apr 08 2014 9:47 AM by www.ourbroker.com
    If you’re wondering why the impact of the foreclosure crisis lingers on you might want to consider what’s happening on Capitol Hill. In 2007, in a fit of common sense, Congress passed the Mortgage Forgiveness Debt Relief Act. This was an important piece of legislation because it corrected an obvious wrong. Let me explain: Traditionally, […] The post Mortgage Forgiveness Debt Relief Stuck On Capitol Hill appeared first on OurBroker .
    Click Here to Read the Full Article

    Source: www.ourbroker.com
  • 9:45 AM » US stocks mostly lower before earnings season
    Published Tue, Apr 08 2014 9:45 AM by CNBC
    U.S. stocks began little changed on Tuesday after a three-day decline that left the S&P 500 in the red for the year.
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Mortgage Rates:
  • 30 Yr FRM 4.44%
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  • 15 Yr FRM 3.49%
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  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (-0-12)
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  • 30YR FNMA 5.0 109-02 (-0-06)
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Recent Housing Data:
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  • Refinance Index -2.69%
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  • Purchase Index -6.30%