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Mortgage News Daily

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GSE Reform's Dire Consequences for Renters; Principal Reduction and Fiscal Cliff
Posted to: Daily Newsletter
Tuesday, December 11, 2012 4:47 PM

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Dec 11, 2012 4:19PM

GSE Reform Could Have Dire Unintended Consequences for Renters

Rental housing is a growing crisis according to the Center for American Progress, but policymakers have made it "an afterthought in the debate over the future of mortgage giants Fannie Mae and Freddie Mac ." David M. Abromowitz, a Senior Fellow at the Center, said that the U.S. housing market appears on the road to recovery but any mention of a broad "housing recovery" ignores the far less rosy future of roughly a third of the U.S. population, the 100 million people who rent. Renters face a long...

Dec 11, 2012 2:54PM

House Democrats Push for Principal Reduction in Fiscal Cliff Negotiations

Nineteen members of the House of Representatives sent a letter today to President Obama and leaders of both parties in the House and Senate urging the expansion of assistance to homeowners, some 10.8 million of whom have homes that are underwater, as part of any resolution of the so-called fiscal cliff . The letter said in part, "Given the clear benefits of providing assistance to underwater borrowers , as well as the significant savings for the American taxpayers, we believe that provisions expanding...

Micro News

3:30 PM:

Late Stock Slide Helps Bonds, Reprices Unlikely But Possible

1:21 PM:

Auction Undetectable, Sideways Grind Continues

10:08 AM:

ECON: Wholesale Inventories Up, Sales Down, Mixed Impact From Storm

9:24 AM:

Bond Markets Holding Ground After Opening Weaker

8:38 AM:

ECON: Trade Gap Widens Roughly As Expected

1:26 PM:

MBS Back To Highs As Treasury Yields And Stocks Come Off Theirs

12:06 PM:

MBS At Weakest Levels After Cliff Comments, Fed Operation

9:53 AM:

Bond Markets Slightly Stronger On European Headlines

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Today's Comments

Ted Rood

"Let's see, we're at the cusp of a fiscal meltdown, with uncertainty on future tax hikes and government austerity measures, not to mention the debt..."

Matthew Burns

"Servicer/Master Servicer is the key! It would be advantageous this time to properly construct and approve Adequate servicing operations that Service loans..."

Larry Thompson

"Clay Brown is absolutely correct. Additionally, costs are rising for lenders in that they (we) are having to add non-revenue producing staff for the simple..."

Today's Q&A

"if you have an arrangement to pay a tax bill can you still transfer the property to a spouse"

"Can I refi a conventional loan to an FHA to lower interest rate? Current lender will not do it!"

"quit claim deed to remove wife from deed"

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More From MND

Mortgage Rates:
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  • 15 Yr FRM 2.96%
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  • 30YR FNMA 5.0 110-22 (0-01)
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  • Purchase Index 8.43%