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  • Mon, Dec 3 2012
  • 3:29 PM » Fitch Again Blasts S&P Grades on Credit Suisse Mortgage Bonds
    Published Mon, Dec 03 2012 3:29 PM by Bloomberg
    Fitch Again Blasts S&P Grades on Credit Suisse Mortgage Bonds Bloomberg The AAA ratings assigned by Standard & Poor's in a mortgage-bond deal by Credit Suisse Group AG (CSGN) are too high, Fitch Ratings said for the second time this year. The amount of protection for a top-rated slice of the $330 million transaction "is not ... and more »
  • 3:29 PM » Mortgage Bond Sales Jumping 45% Hurt Fed's Buying Efforts
    Published Mon, Dec 03 2012 3:29 PM by Bloomberg
    Mortgage Bond Sales Jumping 45% Hurt Fed's Buying Efforts Bloomberg Issuance of U.S. government-backed mortgage securities soared 45 percent last month to the highest since at least 2009 as lenders rushed to create bonds before guarantors Fannie Mae and Freddie Mac increase their fees. About $207 billion of securities ... and more »
  • 3:13 PM » Why Banks Are Enjoying Record Mortgage Revenue
    Published Mon, Dec 03 2012 3:13 PM by WSJ
    Mortgage rates have fallen to their lowest recorded levels, but the spread between banks' cost of funding mortgages and the rates being offered to borrowers has soared in recent months.The upshot, the thinking goes, is that mortgage rates would be even lower if banks were passing along their lower funding costs to borrowers.
  • 2:47 PM » Freddie Mac: Quarterly Update to the Refinance Test
    Published Mon, Dec 03 2012 2:47 PM by Freddie Mac
    Updated test reflecting the most current multifamily market conditions including forecasted rental growth rates, vacancy rates, interest rates, and cap rates.
  • 2:36 PM » Fed's Bullard: replacing "Twist" should not be 1-for-1
    Published Mon, Dec 03 2012 2:36 PM by Reuters
    (Reuters) - The Federal Reserve ought not replace on a one-for-one basis its expiring 'Operation Twist' program of $45 billion in purchases of longer-dated Treasuries a month because that may risk inflation, a senior U.S. central banker said on Monday. St. Louis Federal Reserve Bank President James Bullard said fresh outright bond purchases to replace Twist, in which the Fed sells shorter-dated securities for longer date bonds, would have more impact on inflation and inflation expectations. Operation Twist expires at the end of the year. "If the goal is to keep policy on its present course, the replacement rate should be less than one-for-one," Bullard said in remarks prepared for delivery to the Little Rock Chamber of Commerce. (Reporting By Alister Bull; Editing by Neil Stempleman)
  • 2:10 PM » Fed's Rosengren Sees 'Strong Case' for More Asset Buying - Businessweek
    Published Mon, Dec 03 2012 2:10 PM by Business Week
    Fed's Rosengren Sees 'Strong Case' for More Asset Buying Businessweek Federal Reserve Bank of Boston President Eric Rosengren said he sees a "strong case" for the central bank to buy bonds at the current monthly pace of $85 billion after its Operation Twist program expires. "Given the tepid economic recovery, high ...
    Click Here to Read the Full Article

    Source: Business Week
  • 2:07 PM » Treasury Won't Sell Assets to Buy Debt Limit Time
    Published Mon, Dec 03 2012 2:07 PM by WSJ
    The Treasury Department has ruled out the sale of assets to buy more time before hitting the federal debt limit, a senior official said.
  • 12:03 PM » The Hidden High Cost of Strategic Default
    Published Mon, Dec 03 2012 12:03 PM by The Huffington Post
    By Mitchell D. Weiss If you're one of the 28% of U.S. homeowners with a mortgage that's higher than your house is currently worth, is it time to toss... Read more: Debt , Mortgages , Homeowners , Foreclosure , Strategic Defaults , Credit , Home Loans , Home Foreclosures , Money News
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 11:53 AM » HUD Employee and His "Tiny Home" Featured in Washington Post
    Published Mon, Dec 03 2012 11:53 AM by blog.hud.gov
    Our mission at HUD is to "create strong, sustainable, inclusive communities and quality affordable homes for all" so as employees, we're familiar with the buzzwords associated with the concept of "sustainability." Livability. Walkability. Green design. Carbon footprint. Affordability. Retrofitting. Transit-oriented development. The list goes on. But one of our own employees, Jay Austin, is taking [...]
  • 11:52 AM » Fed to hold lenders' feet to the fire on mortgages
    Published Mon, Dec 03 2012 11:52 AM by Reuters
    NEW YORK (Reuters) - Frustrated Federal Reserve policymakers on Monday sought an explanation from mortgage lenders as to why the benefits of lower interest rates were not filtering to home buyers as quickly as in the past even as investors benefited.
  • 10:44 AM » Mortgage Lending Industry Will Incur Increased Losses From the $13 Billion in Loans Containing Fraud Originated in 2012
    Published Mon, Dec 03 2012 10:44 AM by www.corelogic.com
    -CoreLogic National Mortgage Fraud Index Reaches Highest Levels since 2007- CoreLogic ® (NYSE: CLGX), a leading provider of information, analytics and business services, today released its 2012 Mortgage Fraud Trends Report which estimates the mortgage lending industry will originate $13 billion in loans containing fraudulent information, a $1-billion increase over the 2011 and 2010 figures. CoreLogic projects an increase in losses due to a greater number of mortgage fraud incidents, driven by higher 2012 mortgage origination volumes, as well as sharp increases in employment and identity fraud. The report highlights findings from the CoreLogic National Mortgage Fraud Index, which provides a relative basis of comparison over time for residential loan origination mortgage fraud risk in the United States and represents the collective level of mortgage fraud that is likely to occur. It includes risk indices across multiple fraud types including employment, identity, income, occupancy, property and undisclosed debt. CoreLogic evaluates approximately 80 percent of all mortgage applications in the U.S. for potential fraud and tracks suspected and confirmed fraudulent activity on existing loans. The CoreLogic National Mortgage Fraud Index rose 6.23 percent in the first quarter of 2012 to 85 from the first quarter of 2011 when the index stood at 80. Overall the CoreLogic National Fraud Index increased by 27.5 percent from 67 at the first quarter of 2009, which was the lowest level since CoreLogic first established the index. "Mortgage fraud is a multi-billion dollar criminal activity that continues to be a critical concern for the mortgage banking industry. Increased risk and financial loss associated with mortgage fraud has a direct negative impact on a lender's bottom line," said Susan Allen, vice president, Product Management for CoreLogic. "Heightened awareness and analysis of emerging mortgage fraud threats are vital as criminals continuously look...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 10:34 AM » Fed's Dudley Says MBS Buying Is Helping Economy
    Published Mon, Dec 03 2012 10:34 AM by WSJ
    Declining mortgage rates show Federal Reserve monetary-policy stimulus is having an impact, a key Fed official said Monday.
  • 10:18 AM » Fannie Mae Announces Eviction Moratorium for the Holidays
    Published Mon, Dec 03 2012 10:18 AM by Fannie Mae
    News Release - Fannie Mae Announces Eviction Moratorium for the Holidays, Fannie Mae.
  • 10:18 AM » Freddie Mac Halts Eviction Lock-Outs Between December 17, 2012 and January 2, 2013
    Published Mon, Dec 03 2012 10:18 AM by Freddie Mac
    MCLEAN, Va., Dec. 3, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today announced it is suspending evictions nationwide between December 17, 2012 and January 2, 2013 on foreclosed occupied sin...
  • 9:57 AM » Dudley: Opening Remarks at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop
    Published Mon, Dec 03 2012 9:57 AM by NY Fed
    Remarks by President Dudley at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop, New York City
  • 9:47 AM » Stocks Open Higher After Geithner's 'Cliff' Remarks
    Published Mon, Dec 03 2012 9:47 AM by CNBC
    Stocks rose on the first trading day of December, buoyed by better-than-expected manufacturing data from China and comments from Treasury Secretary Timothy Geithner on the "fiscal cliff."
  • 9:08 AM » Greece Makes Buyback Offer as Merkel Floats Writeoffs - Bloomberg
    Published Mon, Dec 03 2012 9:08 AM by Bloomberg
    Greece Makes Buyback Offer as Merkel Floats Writeoffs Bloomberg Greece offered 10 billion euros ($13 billion) to buy back bonds issued earlier this year as the bailed-out nation attempts to cut a debt load that may threaten future international aid. Greek bonds rallied after the so-called modified Dutch auction was announced ... and more »
  • 8:46 AM » Spain makes formal request for EU bank aid
    Published Mon, Dec 03 2012 8:46 AM by Reuters
    MADRID (Reuters) - Spain on Monday requested formally the disbursement of 39.5 billion euros ($51.4 billion) of European funds to recapitalize its crippled banking sector, the Economy Ministry said in a statement.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.43%
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  • 15 Yr FRM 3.49%
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  • Jumbo 30 Year Fixed 4.21%
MBS Prices:
  • 30YR FNMA 4.5 106-30 (0-06)
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  • 30YR FNMA 5.0 109-07 (0-04)
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  • 30YR FNMA 5.5 110-13 (0-02)
Recent Housing Data:
  • Mortgage Apps -3.31%
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  • Refinance Index -3.75%
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  • FHFA Home Price Index 0.67%