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Mortgage News Daily

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New Servicer Rules Address Disconnect; Rates Sharply Higher; 290 Homes for $189K?
Posted to: Daily Newsletter
Thursday, January 17, 2013 4:53 PM

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Jan 17, 2013 11:32AM

New Servicer Rules Address Disconnect in a "Broken System"

In remarks to a Mortgage Servicing Field Hearing this morning, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), announced the release today of CFPB's final Mortgage Servicing Rules spoke and personally about the need for the new regulations. The rules set for the responsibilities of servicers to their borrowers, outlining requirements for servicers to meet in collecting payments and maintaining performing loans in their portfolios and in managing delinquent and defaulted...

Jan 17, 2013 4:00PM

Mortgage Rates Sharply Higher, Erasing Most Of The Recent Recovery

Mortgage rates shot higher on Thursday matching the quickest pace of the past several months seen at the beginning of January. Although rates didn't make it quite as high in absolute terms, much of the recent recovery was erased. In other words, we're now closer to early January's levels than we are to yesterday's levels. The move was more than sufficient to bump Best-Execution for Conventional 30yr Fixed Loans up to 3.5% from the previous 3.375%. Some borrowers may still have the same rate today...

Micro News

12:34 PM:

Negative Reprices More Likely Now as FN 3.0s Break 104

11:58 AM:

Back To AM Lows. Negative Reprice Risk Slightly Increased

10:08 AM:

ECON: Philly Fed Business Conditions Weaker Than Expected. Outlook Brighter

9:34 AM:

Why Did Bond Markets Get Hit So Hard This Morning?

8:44 AM:

ECON: Housing Starts Rise To Highest Level Since June 2008

8:39 AM:

ECON: Jobless Claims See Biggest Drop Since Feb 2010

2:00 PM:

Negative Reprice Risk Picks Up Slightly. MBS At Lows

10:36 AM:

ECON: Housing Market Index Slightly Lower Than Expected

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Today's Comments

Rene Torres

"The HVCC expired November 2010. Lenders and Banks do not have to use AMCs. Added appraisal requirements are placed there by regulatory agencies. The appraisers..."


"Matt, "The" best explanation for the candlestick graph I have seen, and, great commentary as usual. The pundits say the economy is back. All..."

Bryan/Mortgage Finance Group, Inc.

"What an absolute travesty; when you let the govt. infiltrate and run an entire industry (health, mortgage, etc.) you lose a little (or a lot) of your freedom..."

Today's Q&A

"Refinance Jumbo Loan in California With High LTV "

"How much would i ask for a property worth 48,0000"

"Listing agent using commission to pay part of seller's 2nd lien"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.77%
  • |
  • 15 Yr FRM 3.05%
  • |
  • Jumbo 30 Year Fixed 3.58%
MBS Prices:
  • 30YR FNMA 4.5 108-19 (-0-01)
  • |
  • 30YR FNMA 5.0 110-18 (0-01)
  • |
  • 30YR FNMA 5.5 111-25 (-0-03)
Recent Housing Data:
  • Mortgage Apps -2.58%
  • |
  • Refinance Index 0.28%
  • |
  • Purchase Index -7.02%