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Mortgage News Daily

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Hard Hit States Taking Advantage of HARP; CFPB Caving on QM?
Posted to: Daily Newsletter
Tuesday, October 16, 2012 5:26 PM

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Oct 16, 2012 4:51PM

FHFA: Hard Hit States Taking Advantage of HARP

Refinancing through Freddie Mae and Fannie Mae jumped sharply in August as homeowners continued to take advantage of record low rates . The two government sponsored enterprises (GSEs) refinanced 420,021 loans during the month, up from 356,091 in July. 138,678 of the loans were refinanced through Freddie Mac and 281,343 through Fannie Mae. So far in 2011 there have been 2,945,844 refinances completed through the two GSEs. Loans through the Home Affordable Refinance Program HARP also increased, but...

Oct 16, 2012 9:12AM

Is the CFPB Caving on QM?

A late-breaking WSJ story tonight covered a potential compromise on a government proposal to legislate loan approval guidelines, and it requires some further comment… The piece was on the Qualified Mortgage rule proposed by Dodd Frank and subjet to implementation as of January by the Consumer Financial Protection Bureau (CFBP). It says that lenders must prove a borrower’s ability to repay a loan, and if it’s determined that the lender doesn’t do this, they may be subject...

Micro News

2:03 PM:

Same Old Range-Bind Continues Despite Weaker Treasuries

10:05 AM:

ECON: NAHB Housing Market Index Rises As Expected

9:47 AM:

Bond Markets Sideways In Weaker Territory After Data

9:20 AM:

ECON: Industrial Production +0.4 Vs +0.2 Consensus

8:37 AM:

ECON: Consumer Price Index Slightly Higher, Core Meets Consensus

11:33 AM:

Back Near Lows, On The Edge Of Reprice Risk

10:15 AM:

ECON: Business Inventories Rise As Sales Decelerate

10:00 AM:

Fed Not Anxious To Remove Easy Policy: Dudley

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Today's Comments

Frank Ceizyk

"Nonsense Bryan. The appraiser doesn't kill the deal. Just because a realtor helps a buyer and seller agree on a price, it doesn't mean it is the..."

 Baron Kahle

"NAR has a god handle on what is occurring in this matter. I wonder if there are people who were around prior to licensing and realize the difference in..."

Jason Harris

"Bryan....I would agree if there wasn't a 3rd party involved providing the money for said transaction. But I do think there is a problem related to..."

Today's Q&A

"does a land trust combined with a llc give better protection for investors"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.63%
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  • 15 Yr FRM 2.92%
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  • Jumbo 30 Year Fixed 3.60%
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Recent Housing Data:
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  • Refinance Index 11.33%
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  • Purchase Index 8.43%