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  • Tue, Mar 20 2012
  • 9:06 PM » BofA's McNiff Said to Resign From Mortgage-Trading Unit - Bloomberg
    Published Tue, Mar 20 2012 9:06 PM by Bloomberg
    BofA's McNiff Said to Resign From Mortgage-Trading Unit Bloomberg Bank of America Corp.'s John McNiff, a managing director who served as co-head of trading in commercial mortgage securities, resigned yesterday amid the latest staff cuts, said two people with knowledge of the move. Managing directors Seth Jackier in ...
  • 9:06 PM » Apartment Nation: Trend to Multi-Family Housing Continues
    Published Tue, Mar 20 2012 9:06 PM by Business Week
    Americans who have to scale back are turning more to apartment rentals, triggering a surge in the construction of multi-family housing
    Click Here to Read the Full Article

    Source: Business Week
  • 9:06 PM » Geithner Says Housing Market Is Still `Tough' - Bloomberg
    Published Tue, Mar 20 2012 9:06 PM by Bloomberg
    Bloomberg Geithner Says Housing Market Is Still `Tough' Bloomberg US Treasury Secretary Timothy F. Geithner talks about the US economy and the European debt crisis. Mark Crumpton reports on Bloomberg Television's "Bottom Line. (Source: Bloomberg) Running Time: 01:12 LinkedIn Google +1 Print QUEUE Geithner Says ...
  • 9:05 PM » Geithner Agrees to Give Testimony in Lehman's JPMorgan Suit - Bloomberg
    Published Tue, Mar 20 2012 9:05 PM by Bloomberg
    Geithner Agrees to Give Testimony in Lehman's JPMorgan Suit Bloomberg US Treasury Secretary Timothy Geithner agreed to answer questions in writing in Lehman Brothers Holdings Inc. (LEHMQ)'s lawsuit against JPMorgan Chase & Co. (JPM) , which alleged the bank siphoned $8.6 billion out of Lehman in the 2008 credit crisis, ...
  • 9:05 PM » A history the Fed — with 50 slides — by Professor Bernanke
    Published Tue, Mar 20 2012 9:05 PM by Washington Post
    There were a few anachronistic moments in Professor Ben S. Bernanke's lecture to college students at George Washington University on Tuesday. But in his disquisition on the history of central banking in the United States, he was clearly speaking not only to the past but also to the present. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:03 PM » CNBC EXCLUSIVE: CNBC TRANSCRIPT: STEVE LIESMAN SPEAKS WITH FEDERAL RESERVE CHAIRMAN BEN BERNANKE TODAY
    Published Tue, Mar 20 2012 9:03 PM by CNBC
    WHEN: TODAY, TUESDAY, MARCH 20, 2012 WHERE: CNBC'S "FAST MONEY HALFTIME REPORT" Following is the unofficial transcript of a CNBC EXCLUSIVE interview with CNBC's Steve Liesman and Federal Reserve chairman Ben Bernanke ahead of his lecture at George Washington University School of Business. All references must be sourced to CNBC.
  • 8:53 PM » HUD ANNOUNCES MORE THAN $42 MILLION IN COUNSELING GRANTS TO HELP FAMILIES FIND AND KEEP HOUSING
    Published Tue, Mar 20 2012 8:53 PM by HUD
    WASHINGTON - As part of its continuing effort to help families find decent housing and to prevent future foreclosures, the U.S. Department of Housing and Urban Development (HUD) today announced more than $42 million in housing counseling grants to 468 national, regional and local organizations. As a result of this funding, hundreds of thousands of households will have a greater opportunity to find housing or keep their current homes. See list of all counseling agencies awarded funding today.
  • 2:26 PM » Former Chief Financial Officer of Taylor, Bean & Whitaker Pleads Guilty to Fraud Scheme
    Published Tue, Mar 20 2012 2:26 PM by www.justice.gov
    Delton de Armas, a former chief financial officer of Taylor, Bean & Whitaker Mortgage Corp. (TBW), pleaded guilty today to making false statements and conspiring to commit bank and wire fraud for his role in a more than $2.9 billion fraud scheme that contributed to the failures of TBW and Colonial Bank.
    Click Here to Read the Full Article

    Source: www.justice.gov
  • 12:21 PM » You'll Never Guess the New Big Thing in Housing (Think: Not Big)
    Published Tue, Mar 20 2012 12:21 PM by moneyland.time.com
    The next big thing in residential real estate isn’t big at all. It’s small. Because of cost and aesthetic considerations, a strong “anti-McMansion attitude” has surfaced among home designers and buyers, according to one of the judges of an annual home design contest. Forget about ornate rooflines, gigantic kitchens, and much of the unnecessarily wasted [...]
    Click Here to Read the Full Article

    Source: moneyland.time.com
  • 12:21 PM » Breaking Down the Mortgage Settlement
    Published Tue, Mar 20 2012 12:21 PM by The Big Picture
    Terrific X-Ray of the mortgage settlement from Cora Currier of Pro-Publica: $3 billion: total for which banks can be credited for offering refinancing to underwater homeowners who owe more than their homes are worth. (There are questions about exactly how the credits will work and why the banks are being given incentives rather than punishment.) [...]
    Click Here to Read the Full Article

    Source: The Big Picture
  • 12:21 PM » Fed Sent $75.42 Billion in Profit to Treasury in 2011
    Published Tue, Mar 20 2012 12:21 PM by WSJ
    The Fed said its net income fell slightly last year to $77.38 billion amid declines in earnings from some of its financial crisis rescue programs as they wind down. The Fed's combined financial statement showed a net income of $77.38 billion in 2011, compared with $81.74 billion the previous year. Still, the Fed is generating much more money than it did before the financial crisis, the result of a vast portfolio of Treasury and mortgage securities holdings it took during the recovery as part of a broader effort to stimulate economic growth. The securities portfolio generates interest income for the central bank.
  • 12:16 PM » First and second mortgage default rates fall again in February 2012
    Published Tue, Mar 20 2012 12:16 PM by S&P/Case Shiller
    On March 20th, S&P Indices and Experian released February data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. The data showed a decline in the composite index, led by a six basis point drop in first mortgage default rates. Second mortgage and bank card default rates fell by even more [...]
    Click Here to Read the Full Article

    Source: S&P/Case Shiller
  • 12:15 PM » Q&A with Sheila Bair on the Fed's stress tests
    Published Tue, Mar 20 2012 12:15 PM by Market Watch
    Some of the biggest banks in the U.S. including Goldman Sachs Group Inc. and J.P. Morgan Chase passed the Federal Reserve's stress test but would be considered over-leveraged if Sheila Bair was running the examinations, she tells MarketWatch in an interview.
  • 12:14 PM » Ex-CFO pleads guilty in mortgage fraud case
    Published Tue, Mar 20 2012 12:14 PM by Reuters
    ALEXANDRIA, Virginia (Reuters) - Taylor, Bean & Whitaker Mortgage Corp's former chief financial officer pleaded guilty on Tuesday to charges he helped mislead investors and cover up shortfalls that led to the collapse of one of the largest mortgage companies during the recent U.S. financial crisis.
  • 12:13 PM » Geithner Says No 'Meaningful' Liquidity Risk From Volcker Rule - Bloomberg
    Published Tue, Mar 20 2012 12:13 PM by Bloomberg
    Geithner Says No 'Meaningful' Liquidity Risk From Volcker Rule Bloomberg Treasury Secretary Timothy F. Geithner said he doesn't think the Volcker rule ban on proprietary trading will present a "meaningful risk" to liquidity or credit availability in European countries. "I don't believe, that despite the concerns expressed ...
  • 12:11 PM » Federal Reserve System publishes annual financial statements
    Published Tue, Mar 20 2012 12:11 PM by Federal Reserve
    Federal Reserve System publishes annual financial statements
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 12:09 PM » The FDIC Board Today Approved Two Notices of Proposed Rulemaking
    Published Tue, Mar 20 2012 12:09 PM by content.govdelivery.com
    Press Release The FDIC Board Today Approved Two Notices of Proposed Rulemaking FOR IMMEDIATE RELEASE March 20, 2012 Media Contact: Michele Heller (202) 898-3679 Email: mheller@fdic.gov   The FDIC Board today approved two Notices of Proposed Rulemaking. The first would implement section 201(c)(16) of the Dodd-Frank Act, which permits the FDIC as receiver for a failed SIFI to enforce and prevent termination of the contracts of the institution's subsidiaries or affiliates. The second would make limited clarifications and definitional changes to the deposit insurance assessment system for insured depository institutions with more than $10 billion of assets. The proposed rule would fine tune the large-bank assessment system by amending the definitions of leveraged loans and subprime loans used to identify concentrations in higher-risk assets. The proposal would allow the FDIC to implement the changes without materially affecting the overall assessments that large institutions pay. There were 107 institutions with more than $10 billion in assets, as of Dec. 31, 2011. The NPRs will be published in the Federal Register, both with a 60-day public comment period. Attachments: Notice of Proposed Rulemaking Regarding the Enforcement of Subsidiary and Affiliate Contracts by the FDIC as Receiver for a Covered Company - PDF ( PDF Help ) Notice of Proposed Rulemaking on Assessments, Large Bank Pricing - PDF ( PDF Help ) # # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,359 banks and savings associations, and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations. FDIC press releases and other information are available on the Internet at www.fdic.gov , by subscription...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 12:09 PM » OCC Reports Fourth Quarter Trading Revenue of $2.5 Billion
    Published Tue, Mar 20 2012 12:09 PM by OCC
    Commercial banks reported trading revenue of $2.5 billion in the fourth quarter of 2011, 70 percent lower than revised third quarter revenues of $8.5 billion, and 27 percent lower than in the fourth quarter of 2010, the Office of the Comptroller of the Currency reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities.
  • 9:32 AM » WaMu Emerges From Bankruptcy Protection
    Published Tue, Mar 20 2012 9:32 AM by CNBC
    WaMu Emerges From Bankruptcy Protection<br/>http://www.cnbc.com//id/46793926
  • 9:32 AM » Home Buyers Face Risk on Longer Loans, BMO's Downe Says - Bloomberg
    Published Tue, Mar 20 2012 9:32 AM by Bloomberg
    Home Buyers Face Risk on Longer Loans, BMO's Downe Says Bloomberg Bank of Montreal (BMO) Chief Executive Officer William Downe said the trend toward longer amortizations coupled with low interest rates on mortgages is causing "risk" to borrowers. "In the current low-interest rate environment, there is risk to ...
  • 8:38 AM » US Housing Starts Dip; Permits Near 3 1/2-Year High
    Published Tue, Mar 20 2012 8:38 AM by CNBC
    U.S. housing starts fell in February, but permits for future construction jumped to their highest level since October 2008, according to a government report on Tuesday that showed steady improvement in the housing market.
  • 8:17 AM » Bernanke Returns to Academic Roots to Justify Fed's Existence - Bloomberg
    Published Tue, Mar 20 2012 8:17 AM by Bloomberg
    Bloomberg Bernanke Returns to Academic Roots to Justify Fed's Existence Bloomberg Federal Reserve Chairman Ben S. Bernanke returns to his roots as a university professor today, seeking to explain and justify the existence of the central bank ahead of the 100th anniversary of its founding next year. Bernanke will deliver the first of ...
  • 8:15 AM » Bernanke Stands to Gain Financial-Market Experts With Nominees - Bloomberg
    Published Tue, Mar 20 2012 8:15 AM by Bloomberg
    Bloomberg Bernanke Stands to Gain Financial-Market Experts With Nominees Bloomberg Federal Reserve Chairman Ben S. Bernanke stands to gain two lieutenants with expertise on financial markets if the Senate confirms President Barack Obama's nominees to the Board of Governors. Jerome Powell, a former private equity manager and Treasury ... and more »
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Mortgage Rates:
  • 30 Yr FRM 4.44%
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  • 15 Yr FRM 3.49%
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  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (-0-12)
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  • 30YR FNMA 5.0 109-02 (-0-06)
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  • 30YR FNMA 5.5 110-07 (-0-07)
Recent Housing Data:
  • Mortgage Apps 4.30%
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  • Refinance Index 6.92%
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  • FHFA Home Price Index 0.67%