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Mortgage News Daily

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CDIA Disuptes '60 Minutes' Report of 40M Errors; Mortgage Delinquency at 4-Year Low
Posted to: Daily Newsletter
Tuesday, February 12, 2013 5:49 PM

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Feb 12, 2013 3:29PM

Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

The credit reporting industry's trade group, the Consumer Data Industry Association (CDIA) is vigorously disputing much of a CBS 60 Minutes (watch below) report that aired last Sunday, February 10. CDIA has issued a barrage of press releases documenting its correspondence with the show's producers and presenting its responses to the show's assertions. The 60 Minute segment which can be viewed below focused on the dispute resolution process used by major credit reporting agencies (CRAs). It presented...

Feb 12, 2013 10:22AM

Mortgage Delinquency Falls To 4-Year Low, But Remains Historically Elevated

TransUnion said today that the serious mortgage delinquency rate is heading downhill at a quickening pace, however long term delinquencies and the slow process of resolving them are impeding a return to more normal rates. According to year-end data from the credit reporting company, the rate of serious delinquencies - 60 days or more - fell 14 percent in 2012 compared to 7% in 2010 and 6% in 2011. By contrast, when rates were rising, from 2007 to 2009, they increased by at least 50 percent each year...

Micro News

2:24 PM:

Incremental Increase In Negative Reprice Risk

1:17 PM:

MBS Back to Lows After Auction, But Not Because Of It

11:09 AM:

Stocks Taking Over Where Currencies Left Off

9:10 AM:

Volume Returns This Morning. Bond Markets Weaker

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

Around the Web

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Rep Hensarling: FHA Nation's Largest 'Subprime' Lender

Bair Says Ratings Companies Need Regulatory Changes

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

"Can I take the California real estate licensing test in North Carolina "

"Buying a short sale"

"Dispersement of Equity on Joint ownership"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.66%
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  • 15 Yr FRM 2.94%
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  • Jumbo 30 Year Fixed 3.61%
MBS Prices:
  • 30YR FNMA 4.5 109-01 (0-03)
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  • 30YR FNMA 5.0 110-20 (0-01)
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  • 30YR FNMA 5.5 111-30 (0-04)
Recent Housing Data:
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  • Refinance Index 11.33%
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  • Purchase Index 8.43%