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Mortgage News Daily

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Changes in Correspondent Lending Landscape; Stats Show Very Slow Return of Borrowers that Default
Posted to: Daily Newsletter
Wednesday, October 31, 2012 4:22 PM

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Oct 31, 2012 12:23PM

Changes in Correspondent Lending Landscape; Stats Show Very Slow Return of Borrowers that Default

With our without the storm damage, here in the U.S. there are 41 million potential trick-or-treaters (children age 5 to 14; see joke at bottom) across the United States. And they can be ringing doorbells or throwing toilet paper rolls at 115 million occupied housing units across the nation in 2011 - thanks to the Census Bureau for those numbers. My wife said, "I think we should do something really scary for the kids this Halloween." I said, "We could take them to your mother's." Some think the future...

Oct 31, 2012 12:39PM

GSEs, Mortgage Insurers Delegate Short Sale Authority to Servicers to Ease Process

Agreements were announced on Wednesday with nine private insurance carriers that will make foreclosure alternatives much quicker and easier for some Freddie Mac and Fannie Mae (the GSEs) borrowers to obtain. Servicers will no longer have to seek approval of private mortgage insurance (PMI) companies when borrowers with mortgages owned or guaranteed by either GSE and carrying PMI seek a short sale or permission to grant a deed in lieu of foreclosure. The agreements, which become effective on November...

Micro News

2:54 PM:

Highest Levels In More Than Two Weeks. Positive Reprices?

10:07 AM:

ECON: Chicago PMI Misses Estimates Slightly, Employment Lower

9:59 AM:

Moderately Weaker Overnight, Bond Markets Improve Into Domestic Hours

8:40 AM:

ECON: Employment Costs Rise Slightly Slower Than Expected

3:37 PM:

SIFMA Recommends Open Market on October 31

9:12 AM:

ECON: Home Prices Continued To Rise In August 2012 - Case Shiller

11:37 AM:

NY Fed Cancels MBS/Treasury Operations For Tuesday

9:08 AM:

Bond Markets In Better Territory To Begin Shortened Session

Around the Web

Video News

Shiller: Housing Recovery Could Take a While

Shuttered Banks Slowly Coming Back

Real Estate Magnate Assesses NYC Damage

Today's Comments

Pat Ryan

"I try to attend most closings and went to 3 last week. My frustration with the industry is a bit less with the guidelines and more with the increased fees..."

Bette Miller

"Frank: Great article! I attend about 90% of my closings and title agents and realtors are always surprised when the mortgage broker shows up! You have..."

Lewis Poretz

"Spot on Frank! More and more I see originators 'coming out' and letting American consumers know just how they feel. It was once an honor to originate..."

Today's Q&A

"Can I get a FHA loan for a second home if I rent the first one?"

"when lender pays the closing cost, can part of the closing cost charged as pre-paid finance charges?"

"What is the difference between Origination Fee, Loan Processing Fee & Underwriting Fee?"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.67%
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  • 15 Yr FRM 2.95%
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  • Jumbo 30 Year Fixed 3.62%
MBS Prices:
  • 30YR FNMA 4.5 108-28 (0-00)
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  • 30YR FNMA 5.0 110-17 (-0-04)
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  • 30YR FNMA 5.5 111-30 (0-02)
Recent Housing Data:
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  • Refinance Index 11.33%
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  • Purchase Index 8.43%