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Mortgage News Daily

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Homeowner Refinancing Act; Dems want DeMarco Gone; FHA the New Countrywide?
Posted to: Daily Newsletter
Thursday, February 7, 2013 7:25 PM

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Feb 7, 2013 7:16PM

Homeowner Refinancing Act Resubmitted by Senators Menendez and Boxer

Two U.S. Senators have reintroduced legislation to help homeowners refinance into lower interest mortgages . The bill, T he Responsible Homeowner Refinancing Act of 2013 , removes the barriers preventing the Fannie Mae and Freddie Mac borrowers from refinancing their loans at the lowest rate possible. The legislation, introduced by Robert Menendez (D-NJ) and Barbara Boxer (D-CA) had failed to pass the 112 th Congress. If passed it would direct the GSEs to require the same streamlined underwriting...

Feb 7, 2013 10:37AM

Finance Committee Chair Suggests FHA Could be Next Countrywide

On Wednesday the House Financial Services Committee held the first of a scheduled series of hearings on the financial condition of the Federal Housing Administration (FHA) . A memo released by the Committee's chairman Jeb Hensarling (R-TX) says that the FHA's single-family insurance fund which insures more than 294832 trillion worth of home mortgages , has a negative economic value of $16.3 billion, according to an independent actuarial report released in November which means that if the FHA stopped...

Micro News

3:53 PM:

Afternoon Selling Pressure Continues. More Reprice Risk

3:30 PM:

Edging Back Into Riskier Territory

3:14 PM:

ECON: Consumer Credit Slightly Higher Than Expected

1:10 PM:

Reprice Risk? Depends On Original Rate Sheet Timing

10:20 AM:

After Opening Weaker, Bond Markets Turn Green

8:48 AM:

ECON: Productivity Lower, Labor Costs Higher

8:39 AM:

ECON: Initial Jobless Claims Slightly Higher Than Expected

4:13 PM:

MBS Reluctantly Hit Highs. Limited Reprice Potential Persists

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Today's Comments

Frank Ceizyk

"Maybe we could add #4. Provide the mortgage industry proposed alternatives to CFPB rules to show how we already protect consumers in normal day to day..."

Corey Cummings

"I just wanted to Thank MG, and all of the regular contributor to MND for sharing your insights and knowledge. I'm a consumer who has been following..."

Bryan/Mortgage Finance Group, Inc.

"Makes perfect sense, which means it probably won't get very far through congress. What does monetary policy have to do with unemployment anyway, other..."

Today's Q&A

"Reattaching parcels to parent parcel"

"How can a person on disability get a loan for a home, who has no credit."

"Purchase the property note"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.67%
  • |
  • 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:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
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  • Purchase Index 8.43%