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Mortgage News Daily

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FHFA Sends Congress Strategic Plan for GSEs
Posted to: Daily Newsletter
Tuesday, February 21, 2012 5:22 PM

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Feb 21, 2012 2:07PM

FHFA Sends Congress Strategic Plan for GSEs

The Federal Housing Finance Agency (FHFA) said Tuesday that, with its conservatorship of Fannie Mae and Freddie Mac (the Enterprises) now in operation for more than three years "and no near-term resolution in sight," it was time to assess its goals and directions. In a letter submitted to the chairs and ranking members of the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs, Acting FHFA Director Edward J. DeMarco set out a Strategic Plan for Fannie...

Feb 21, 2012 3:31PM

Best-Execution Mortgage Rates Rise For First Time in a Month

For the first time since late January, Best-Execution Mortgages Rates moved back to 4.0%. Over the past month, the rate averaged 3.875% despite plenty of fluctuations in terms of closing costs. Friday's weakness brought the average of the lenders we survey as close to the 4.0% mark and today's weakness in the bond markets resulted in more lenders offering 4.0% as a best-execution rate, although 3.875% remains at a few of the more aggressively-priced lenders. Additional reading: A previous post with...

Micro News

4:08 PM:

MBS Return to Lows In Late Day, Light-Liquidity Conditions

2:14 PM:

Boston Fed sought cut in discount rate in Jan

12:12 PM:

FHFA Sends Congress Strategic Plan for Conservatorships of Fannie Mae and Freddie Mac

12:09 PM:

MBS Hit New Lows. Negative Reprice Risk Increasing

11:16 AM:

MBS Live Service Notice: Day Over Day Price Change

10:58 AM:

Relatively Heavy Volume Moving Bond Market Relatively Sideways

8:45 AM:

Europe Seals New Greek Bailout to Avert Default

3:16 PM:

Bearish Bias Dries Up After Hours, Still Sideways

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Today's Comments

Ken Crute

"John, at 140LTV you will have a higher quote, from any lender. The HARP program does have significant pricing adjustments for higher LTV loans"

jus der

"I agree that not grandfathering in the MIP for streamlines is outrageous. The loan is already backed by FHA. Really leaves a lot of us out of the fold..."

John Tilton

"Geez Louise--what if the current servicer doesn't want to do it? My current servicer--B of A--quotes me 5.25% (140% LTV). When I asked them what's..."

Today's Q&A

"Qualifying income for VA loan? "

"How to terminate a Realtor buyers agreement"

"Current Mortgage part of DTI calculation on a purchase?"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.63%
  • |
  • 15 Yr FRM 2.92%
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  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (0-00)
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  • 30YR FNMA 5.0 110-25 (0-03)
  • |
  • 30YR FNMA 5.5 111-30 (0-04)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
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  • Purchase Index 8.43%