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Mortgage News Daily

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Home Prices Grow at Fastest Pace in Seven Years; Potential Cordray Fallout
Posted to: Daily Newsletter
Monday, February 11, 2013 5:37 PM

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Feb 11, 2013 12:12PM

Nevada Looks to Reduce Shadow Inventory by Purchasing $150M in Delinquent Mortgages

Citing the overhang of distressed homes as a major stumbling block to recovery, a Nevada official is proposing a new program for reducing it. According to the Associated Press, Bruce Breslow, Director of Nevada's Department of Business and Industry, wants to use federal and other funds to purchase about $150 million in delinquent mortgages and substantially reduce the principal balance. Under the proposed Nevada Means Home Retention Program (Nevada Means Home is the state song) would create a non...

Feb 11, 2013 10:56AM

Potential Fallout of Cordray's CFPB Appointement being Invalidated

This is the second of two installments ( part 1 ) summarizing a seminar given by Ballard Spahr, a national law firm, to explain the possible ramifications of a recent Appeals Court ruling invalidating three recess appointments to the National Labor Relations Board. Noel Canning v NLRB has direct application to the appointment of Richard Cordray as director of the Consumer Financial Protection Bureau which occurred at the same time as the NLRB appointments and under the same circumstances. The first...

Micro News

1:36 PM:

Prodding Resistance Levels In Low Volume, MBS At Highs

10:44 AM:

MBS Into The Green As Markets Slowly Shed Risk

8:50 AM:

Bond Markets Weaker Overnight, Bouncing Back This AM

3:55 PM:

Continuing To Ratchet Higher. Positive Reprice Potential

12:50 PM:

Treasuries and MBS Put up a Good Fight

10:05 AM:

ECON: Wholesale Inventories and Sales Weaker Than Expected

9:46 AM:

Stocks Surge At Open. Treasuries Injured. MBS Destroyed

9:18 AM:

Markets Go "Risk-On." Treasuries Doing OK, But MBS Suffer

Around the Web

Video News

Santelli's Midday Bond Report

U.S. Representative Campbell on Banking Legislation

Homes as Credit Cards

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

"Buying a short sale"

"Dispersement of Equity on Joint ownership"

"how do you find out what courses you need to get real estate license"

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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:
  • 30YR FNMA 4.5 108-28 (0-00)
  • |
  • 30YR FNMA 5.0 110-17 (-0-04)
  • |
  • 30YR FNMA 5.5 111-30 (0-02)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%