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Mortgage News Daily

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Attention Walmart Shoppers: Mortgages, Aisle 3; Bill Raising G-Fees Faces Tough Battle
Posted to: Daily Newsletter
Monday, December 3, 2012 5:41 PM

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Dec 3, 2012 2:53PM

Attention Walmart Shoppers: Mortgages, Aisle 3

Results from a recent on-line study indicate that not all consumers are wedded to traditional lenders when it comes to their mortgage needs. Eighty percent of those surveyed, in fact, said they would consider obtaining a mortgage from a non-bank. Carlisle & Gallagher Consulting Group (CG), a management and technology consulting firm serving the financial services industry surveyed consumers in September to learn about their views toward home ownership, how recent changes in the mortgage industry...

Dec 3, 2012 10:11AM

Bill Raising G-Fees Faces Tough Battle

Thanks to John T. Mechem, Vice President of Communications at the Mortgage Bankers Association (MBA) we learned a little more about The STEMS Jobs Act which passed the House of Friday in a 245 to 139 party line vote. MBA President David Stevens had earlier urged the House to reject one provision of the legislation. As MND reported on Friday , this is essentially an immigration bill, a controversial one, that, as originally filed, would grant an increased number of work visas to foreign nationals...

Micro News

3:44 PM:

Four Hours Later, Still Sideways At Best Levels Of The Day

10:48 AM:

MBS Near Highs Through Rate Sheet Time

10:16 AM:

ECON: Residential Construction Spending Highest Since 2008, Probably...

10:08 AM:

ECON: ISM Manufacturing Much Weaker Than Expected

9:40 AM:

Fighting To Hold Ground After Late Risk Rally Overnight

9:06 AM:

ECON: Markit PMI At Six Month High, Signalling Moderate Growth

2:28 PM:

MBS Winning Consolation Prize For A Rough November

12:50 PM:

Obama Says Not Acceptable For "Handful Of Republicans" To Block Fiscal Deal

Around the Web

Video News

Wal-Mart & PayPal Mortgages: Good for Investors?

October Construction Spending Up 1.4%

House Passes STEM Act

Today's Comments

Jason Harris

"Comrade Miller....8 years of loan comparison analysis? Really? Clearly limited in scope if that is the best you can come up with? A set fee mandate? Come..."


"What I propose is that there be set standard fees for everyone getting a mortgage and not the exorbitant abusive percentage based fees currently being..."

Jason Harris

"Mike (mrmillersr)...per your initial comment I see you think additional regulation would help our industry. What specifically do you propose? Should we..."

Today's Q&A

"What type of letter do you need for a deed change?"

"Can I Short Sale my property in my current situation?"

"Can I refinance my current Mortgage and roll my Home Equity Loan into the new loan. "

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.63%
  • |
  • 15 Yr FRM 2.92%
  • |
  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (0-00)
  • |
  • 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%
  • |
  • Purchase Index 8.43%