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Mortgage News Daily

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More Lowlights than Highlights in FHA Report; To be Frank
Posted to: Daily Newsletter
Tuesday, November 20, 2012 5:41 PM

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Nov 20, 2012 1:48PM

More Lowlights than Highlights in HUD's Report to Congress

HUD's report on FHA's finances to Congress was a mere 64 pages. Here's the top (or bottom!) 10 summary for those who lack the time or motivation to peruse the entire report: FHA is losing money hand over fist. Despite increasing loan quality and mortgage insurance rates, FHA lost over 283745.5 billion in 2012 to date. HUD's accountants had an overly rosy view of housing . Last year they projected housing values would rise 11.5% by 2014. This year's revised estimate is 4.8% appreciation by 2014, hardly...

Nov 20, 2012 5:17PM

RMBS Working Group Files Suit against Credit Suisse

At a press conference Tuesday afternoon New York State Attorney General Eric T. Schneiderman announced he had filed a second complaint against a financial institution since the creation of the federal Residential Mortgage-Backed Securities Working Group . The complaint was filed against Credit Suisse Securities (USA) LLC and its affiliates for making fraudulent misrepresentations and omissions to promote the sale of residential mortgageĀ­-backed securities (RMBS) to investors. According to the...

Micro News

3:09 PM:

One More Selling Spree? Reprice Risk Increases Yet Again

1:17 PM:

Stocks Slide, Bond Markets Dig Heels In, Risks Moderating

12:06 PM:

Increased Negative Reprice Risk As Headlines Take Toll

10:36 AM:

MBS Fall A Quick 4/32nds. Negative Reprice Risk Already Increasing

9:32 AM:

MBS Creep Into Positive Territory, Outperforming Treasuries

8:44 AM:

ECON: Housing Starts Highest Since July 2008, Stronger Than Expected

3:50 PM:

MBS Hit Highs Of The Day. Enough For A Reprice?

11:03 AM:

More Can-Kicking For Greece...

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Today's Comments

Ray J

"The majority of my closings are under 40 days, With clients who are 'on it' in terms of providing requested documents expeditiously, scheduling..."

Ira Holmes

"Is that the best loan for the borrower? TV$ says the 15yr loan will build equlty faster, but at a cost. If I can give the lender "cheaper dollars"..."

Paul DeSanctis

"This is great, although I was just blamed the other day for blaming people who blame others. I think this is the key. I was talking with a US Bank exec..."

Today's Q&A

"tranfer of ownership of house"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.67%
  • |
  • 15 Yr FRM 2.95%
  • |
  • Jumbo 30 Year Fixed 3.62%
MBS Prices:
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%