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  • Tue, Jan 13 2015
  • 10:59 AM » Ocwen Financial may lose mortgage license in California
    Published Tue, Jan 13 2015 10:59 AM by Market Watch
    NEW YORK (MarketWatch) -- Ocwen Financial Corp. shares slid 26% in early trade Tuesday, after the LA Times said California is seeking to suspend the company's mortgage license. The Golden state says Ocwen has failed to turn over documentation that shows it complies with laws protecting howmeowners, the paper reported, citing Tom Dresslar, spokesman for the California State Treasury. Atlanta-based Ocwen is one of the biggest mortgage servicers in the U.S., and losing its license would mean it would have to sell its rights to handle bill collection and foreclosure in the state, said Dresslar. Ocwen counts California as one of its biggest states, servicing 378,132 home loans as of Sept. 30 with unpaid principal totaling $95 billion. Shares have fallen 40% in the year so far, while the S&P 500 is down 0.3%.
  • 10:58 AM » U.S. Supreme Court rules for homeowners over mortgage dispute
    Published Tue, Jan 13 2015 10:58 AM by Reuters
    WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday ruled in favor of homeowners seeking to back out of mortgages when lenders are accused of failing to follow a federal "truth in lending" law.
  • 9:58 AM » Small-Business Owners Are the Most Confident Since 2006
    Published Tue, Jan 13 2015 9:58 AM by WSJ
    Small business owners in December reported a big gain in confidence, according to a report released Tuesday.
  • 8:57 AM » U.S. Economic Confidence Index Continues Upward Trek
    Published Tue, Jan 13 2015 8:57 AM by www.gallup.com
    Gallup's U.S. Economic Confidence Index continues to advance into positive territory, averaging +4 for the week ending Jan. 11 -- the highest it has reached since the recession. This is the index's third consecutive positive reading.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:56 AM » Borrower Safeguards Led by U.S. Seen Harmful by Banks - Bloomberg
    Published Tue, Jan 13 2015 8:56 AM by Bloomberg
    Bloomberg Borrower Safeguards Led by U.S. Seen Harmful by Banks Bloomberg As Richard Cordray, director of the Consumer Financial Protection Bureau, creates more safeguards for borrowers, lenders are trying to roll back rules that rein in reckless lending. Cordray will announce the launch of a website that will help homebuyers shop ... and more »
  • 8:53 AM » BlackRock launches U.S. real estate ETF
    Published Tue, Jan 13 2015 8:53 AM by Market Watch
    BlackRock's new exchange-traded fund is designed to mimic investment in physical U.S. real estate and help feed the growing appetite for property.
  • 8:51 AM » Fee Cut, Lower Rates Could Boost Mortgage Refinancings
    Published Tue, Jan 13 2015 8:51 AM by WSJ
    Some lower-income borrowers will be able to cut mortgage payments as a decline in interest rates and a reduction in federal loan fees open the door for them to refinance.
  • 8:51 AM » ECB May Make Decision on Bond Buying in January — Coeuré
    Published Tue, Jan 13 2015 8:51 AM by WSJ
    The European Central Bank is in a position to make a decision on a government bond-buying program at its next meeting on Jan. 22, but that doesn't necessarily mean that it will, ECB Executive Board member Benoît Coeuré said in an interview published Tuesday. German newspaper Die Welt quotes Mr. Coeure as saying that steadily falling oil prices worsens the danger "that people lose confidence in our inflation target." Annual inflation in the eurozone was most recently recorded at -0.2%, well off of the ECB's target of just below 2%.
  • 8:48 AM » Nearly half of mortgage borrowers don't shop around when they buy a home
    Published Tue, Jan 13 2015 8:48 AM by CFPB
    We shop to find the best price for laptops or appliances, but a report of recent mortgage borrowers found that almost half of us don't shop around for a mortgage when we buy a home. Failing to shop for a mortgage could cost you. Consumers who consider interest rates offered by multiple lenders or brokers may see substantial differences in the rates. Read more about our report and how we're making mortgage shopping easier.
  • Mon, Jan 12 2015
  • 9:11 PM » White House issues veto threat on Volcker rule change
    Published Mon, Jan 12 2015 9:11 PM by Market Watch
    WASHINGTON (MarketWatch) -- The White House suggested on Monday that President Barack Obama would veto a proposed delay in the Volcker rule provision of the Dodd-Frank law. House Republicans are aiming to pass the delay by a simple majority vote following the House's failure to pass the provision by a two-thirds majority. The bill would give banks until 2019 to divest from collateralized loan obligations.
  • 9:11 PM » Fed Gets Some Good News on Inflation Outlook, Via NY Fed Survey
    Published Mon, Jan 12 2015 9:11 PM by WSJ
    Federal Reserve officials got a rare bit of good news on the inflation front on Monday.
  • 9:07 PM » Treasuries Rise With Sale Set to Draw Lowest Yield in 20 Months - Bloomberg
    Published Mon, Jan 12 2015 9:07 PM by Bloomberg
    Treasuries Rise With Sale Set to Draw Lowest Yield in 20 Months Bloomberg Treasuries rose, with 10-year notes poised to draw the lowest yield in 20 months at an auction today, as falling oil costs indicate inflation will slow. Yields on sovereign bonds around the world extended their decline to record lows. Securities in the Bank of ... and more »
  • 9:06 PM » After change of heart, Fannie Mae eyes 15th Street for headquarters
    Published Mon, Jan 12 2015 9:06 PM by Washington Post
    Fannie Mae officials had all but decided to consolidate their headquarters to 555 12th St. NW, downtown office space set to be vacated by the law firm Arnold & Porter. Then they had a change of heart.According to two sources familiar with the negotiations, Fannie Mae is in advanced negotiations with developer Carr Properties to consolidate its headquarters into a new office building planned by Carr at the corner of 15th and L streets NW.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 4:36 PM » Alcoa beats on earnings, revenue
    Published Mon, Jan 12 2015 4:36 PM by CNBC
    Alcoa delivered quarterly earnings and revenue that topped analysts' expectations on Monday.
  • 3:31 PM » Cutting 'patient' from Fed guidance should signal hike near: Lacker
    Published Mon, Jan 12 2015 3:31 PM by Reuters
    WASHINGTON (Reuters) - The Federal Reserve should stop talking about the need for a "patient" interest rate policy just before it thinks it will begin hiking rates, a top Fed policymaker said on Monday.
  • 3:24 PM » Why traders are shorting homebuilders
    Published Mon, Jan 12 2015 3:24 PM by CNBC
    About 15.8 percent of KB Home shares outstanding are on loan, making it the most shorted stock announcing earnings this week.
  • 2:45 PM » Treasuries Extend Gains After U.S. $24 Billion Three-Year Sale - Bloomberg
    Published Mon, Jan 12 2015 2:45 PM by Bloomberg
    Treasuries Extend Gains After U.S. $24 Billion Three-Year Sale Bloomberg Treasuries extended gains after the U.S. sale of $24 billion of three-year notes produced a lower-than-forecast yield. The notes yielded 0.926 percent, compared with a 0.936 percent forecast in a Bloomberg survey of nine of the Federal Reserve's 22 primary ... and more »
  • 2:43 PM » Obtaining a mortgage loan: How do we know if it's too hard, too easy, or just about right?
    Published Mon, Jan 12 2015 2:43 PM by Google News
    Policymakers count on a wide range of measures to gauge the state of the housing and mortgage markets, but when it comes to the availability of credit, are we as precise as we can be? Given the many recent steps to increase access to mortgage lending, credit availability is at the center of housing finance […]
  • 12:30 PM » Bill Gross: "I was Fired From Pimco"
    Published Mon, Jan 12 2015 12:30 PM by The Big Picture
    On "Before The Bell," Bloomberg's Betty Liu, Olivia Sterns and Bloomberg View columnist Barry Ritholtz run down the top stories of the day. Bloomberg, Jan. 12 2015
    Click Here to Read the Full Article

    Source: The Big Picture
  • 11:47 AM » FNC: Residential Property Values increased 5.2% year-over-year in November
    Published Mon, Jan 12 2015 11:47 AM by Calculated Risk Blog
    In addition to Case-Shiller, and CoreLogic, I'm also watching the FNC, Zillow and several other house price indexes. FNC released their November  index data today.  FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values decreased slightly from October to November (Composite 100 index, not seasonally adjusted). The other RPIs (10-MSA, 20-MSA, 30-MSA) also decreased slightly in November. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales). Notes: In addition to the composite indexes, FNC presents price indexes for 30 MSAs. FNC also provides seasonally adjusted data. The year-over-year (YoY) change was lower in November than in October, with the 100-MSA composite up 5.2% compared to November 2013.   In general, for FNC, the YoY increase has been slowing since peaking in March at 9.0%. The index is still down 19.7% from the peak in 2006. Click on graph for larger image. This graph shows the year-over-year change based on the FNC index (four composites) through November 2014. The FNC indexes are hedonic price indexes using a blend of sold homes and real-time appraisals. Most of the price indexes have been showing a slowdown in price increases. The November Case-Shiller index will be released on Tuesday, January 27th, and I expect Case-Shiller to show a further slowdown in YoY price increases.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:47 AM » Corker and Vitter Call on Administration to Protect Taxpayers and Reconsider Recent FHA Decision
    Published Mon, Jan 12 2015 11:47 AM by www.corker.senate.gov
    Senators "deeply concerned about placing the taxpayer in jeopardy by underpricing these government-guaranteed loans."...
    Click Here to Read the Full Article

    Source: www.corker.senate.gov
  • 10:15 AM » Fed unimpressed with jobs numbers
    Published Mon, Jan 12 2015 10:15 AM by CNBC
    While 2014 featured the biggest growth in 15 years, Friday's jobs report left at least one key constituency unimpressed.
  • 10:15 AM » Encouraging signs for D.C. region's housing market
    Published Mon, Jan 12 2015 10:15 AM by Washington Post
    Sales in the D.C. region's housing market picked up for the first time in a year last month, a sign that home buyers may feel more confident heading into the new year.For most of 2014, the D.C.-area real estate market was flat. Although there were pockets of robust activity and others of sluggish sales, in general, the market didn't experience big gains or big losses. Instead, it just meandered along. This wasn't a bad thing. Slow and steady works best in a recovery.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:10 AM » Banks prepare plans for Greek eurozone exit
    Published Mon, Jan 12 2015 9:10 AM by Market Watch
    Banks and other financial institutions in Europe are stress-testing their internal systems and dusting off two-year-old contingency plans for the possibility Greece could leave the region's monetary union after a key election later this month.
  • 9:09 AM » ECB plans QE according to paid in capital: Source
    Published Mon, Jan 12 2015 9:09 AM by CNBC
    The European Central Bank set to announce that a quantitative easing program based on the contributions made from national central banks.
  • 9:08 AM » US manufacturing rebound a 'myth'?
    Published Mon, Jan 12 2015 9:08 AM by CNBC
    A new study is dismissing the U.S. manufacturing renaissance as little more than a "myth."
  • 8:51 AM » Black Knight Mortgage Monitor: Delinquencies "Spike" in November
    Published Mon, Jan 12 2015 8:51 AM by Calculated Risk Blog
    Black Knight Financial Services (BKFS) released their Mortgage Monitor report for November today. According to BKFS, 6.08% of mortgages were delinquent in November, up from 5.44% in October. BKFS reported that 1.63% of mortgages were in the foreclosure process, down from 2.50% in November 2013. This gives a total of 7.71% delinquent or in foreclosure. It breaks down as: • 1,925,000 properties that are 30 or more days, and less than 90 days past due, but not in foreclosure. • 1,163,000 properties that are 90 or more days delinquent, but not in foreclosure. • 829,000 loans in foreclosure process. For a total of ??3,917,000 loans delinquent or in foreclosure in November. This is down from 4,497,000 in November 2013. Black Knight had several comments on the "spike" in delinquencies in November: • November's spike in delinquencies was the largest month-over month increase (for any month) since November 2008 • Much of the increase seems to have been calendar-driven; two federal holidays (Veterans Day and Thanksgiving) and the last two days of the month being a weekend resulted in just 18 possible payment processing days • The five largest M/M delinquency rate increases over the last 7 years have all occurred in months ending on a Sunday If this was just seasonal (and calendar related), then delinquencies should decline solidly in December. Click on graph for larger image. This graph from Black Knight shows the number of loans rolling to a more delinquent status. There was a big spike from current to 30 days delinquent, and that should reverse if seasonal. From Black Knight: • Increased roll-rates were seen across all early stage delinquency categories (i.e., loans rolling from current status to 30-days delinquent, 30 to 60 days delinquent, etc.) • November saw the highest one month count of loans rolling from current to 30-days delinquent since June 2013 • While early stage delinquent categories saw increased roll-rates, rolls from delinquent to foreclosure status...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Sun, Jan 11 2015
  • 11:27 PM » As dollar catches fire, US companies break a sweat
    Published Sun, Jan 11 2015 11:27 PM by CNBC
    The dollar's spike may come back to hurt the U.S. economy.
  • 11:16 PM » This Guy Called Bonds in '14. You Listening This Time? - Bloomberg
    Published Sun, Jan 11 2015 11:16 PM by Bloomberg
    This Guy Called Bonds in '14. You Listening This Time? Bloomberg Steven Major did something weird in 2014: he got the bond market right. When most experts said sell, Major said buy. And he's defying the consensus again this year. Wall Street, as a whole, is still pointing the other way -- but then, Wall Street, as a whole, ...
  • 11:16 PM » ECB's Public Debate on QE Intensifies as Media Window Narrows - Bloomberg
    Published Sun, Jan 11 2015 11:16 PM by Bloomberg
    ECB's Public Debate on QE Intensifies as Media Window Narrows Bloomberg The European Central Bank's public debate over buying government bonds is reaching a climax. After weeks of argument about quantitative easing in speeches and interviews, officials have just a few days left before a conventional quiet period starts ahead ... and more »
  • Fri, Jan 9 2015
  • 4:54 PM » Freddie Mac Reduces Credit Risk With Three New ACIS Insurance Policies With a Combined $707 Million Limit
    Published Fri, Jan 09 2015 4:54 PM by freddiemac.mwnewsroom.com
    Freddie Mac Reduces Credit Risk With Three New ACIS Insurance Policies With a Combined $707 Million Limit
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 4:53 PM » Was 2014 Really the Strongest Year of Job Growth Since 1999?
    Published Fri, Jan 09 2015 4:53 PM by WSJ
    The U.S. economy added almost 3 million jobs last year, the most in a calendar year since 1999. But consider this: The American population is much bigger today than it was 15 years ago.
  • 4:53 PM » Wage drop not the beginning of a trend: Economist
    Published Fri, Jan 09 2015 4:53 PM by CNBC
    The drop in wages is at odds with other wage indicators, JPMorgan's chief U.S. economist, Michael Feroli, told CNBC.
  • 3:19 PM » The Fed's Puzzle: How Low Can Unemployment and Inflation Both Go?
    Published Fri, Jan 09 2015 3:19 PM by WSJ
    The December jobs report falls right in line with the course the Fed is trying to chart for its monetary policy, WSJ chief economics correspondent Jon Hilsenrath said this morning on the MoneyBeat show. But there's a puzzle in there, too.
  • 3:19 PM » Fed's Lacker Says Oil Plunge Complicates Inflation Outlook
    Published Fri, Jan 09 2015 3:19 PM by WSJ
    Plunging oil prices will make it harder for Federal Reserve policymakers to discern underlying inflation trends in coming months, but consumer-price growth should gradually become more "tolerably close" to the central bank's 2% inflation target, Richmond Fed President Jeffrey Lacker said Friday.
  • 3:19 PM » 5 Takeaways from the December Jobs Report
    Published Fri, Jan 09 2015 3:19 PM by WSJ
    The U.S. labor markets ended 2014 on a strong note as the top-line numbers in job growth and unemployment rate beat expectations. Here are five takeaways from the December jobs report, good and bad.
  • 12:50 PM » Fed can be 'a little bit late' with rate hike: Lockhart
    Published Fri, Jan 09 2015 12:50 PM by Market Watch
    WASHINGTON (MarketWatch) - Dennis Lockhart, the president of the Atlanta Fed, said he is wouldn't mind if the U.S. central bank was "a little bit late" with the first rate hike. "If the committee is to err on the side of being a little late as viewed by history writers or maybe a little early, I prefer to take the risk of being a little bit late," Lockhart said in an interview with Bloomberg News on Friday. Lockhart, seen as a centrist on the Fed policy committee, will have a vote on policy decisions this year. The Atlanta Fed president said he still thinks the first rate hike will come mid-year or later. The December jobs report was no reason to speed up the timing of an interest-rate increase, he said."I don't see a reason yet to accelerate my assumption of when a policy move might be appropriate," Lockhart said.
  • 12:38 PM » Fed hands record $98.7 billion to Treasury
    Published Fri, Jan 09 2015 12:38 PM by Market Watch
    WASHINGTON (MarketWatch) - The Federal Reserve transferred a record $98.7 billion in earnings to the U.S. Treasury during 2014, the central bank announced Friday, a side benefit of its massive bond-buying purchases. The transfer is more than the prior record of $88.4 billion transferred in 2012. Under Fed policy, residual Fed earnings are distributed to Treasury after covering expenses. The remittances to the Treasury are made weekly. The Fed could suffer losses on its Treasury holdings if interest rates rise sharply, analysts said.
  • 12:38 PM » ECB's Hansson says full-scale QE before Greek elections 'problematic': Bloomberg
    Published Fri, Jan 09 2015 12:38 PM by Reuters
    FRANKFURT (Reuters) - European Central Bank Governing Council member Ardo Hansson said he would find it "problematic" to announce large-scale purchases of government bonds this month that included Greek debt.
  • 12:37 PM » Oregon Begins Using Uniform Mortgage Test; 46 State Agencies Now Using the Test, Which Streamlines the License Application Process
    Published Fri, Jan 09 2015 12:37 PM by www.csbs.org
    Oregon Begins Using Uniform Mortgage Test; 46 State Agencies Now Using the Test, Which Streamlines the License Application Process<br/>http://www.csbs.org/news/press-releases/pr2015/Pages/PR-01092015.aspx
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