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  • Thu, Mar 29 2012
  • 3:57 PM » HUD, VA TO PROVIDE PERMANENT HOUSING AND SUPPORT TO MORE THAN 10,000 HOMELESS VETS
    Published Thu, Mar 29 2012 3:57 PM by HUD
    WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Veterans Affairs Secretary Eric K. Shinseki announced today that HUD will provide $72.6 million to public housing agencies in all 50 states and the District of Columbia to supply permanent housing and case management for more than 10,000 homeless veterans.
  • 1:55 PM » Bernanke Says Pace of Recovery Has Been 'Extremely Sluggish' - Bloomberg
    Published Thu, Mar 29 2012 1:55 PM by Bloomberg
    Bernanke Says Pace of Recovery Has Been 'Extremely Sluggish' Bloomberg Federal Reserve Chairman Ben S. Bernanke said the pace of recovery from the recession has been "extremely sluggish," while action by the world's central banks helped prevent another Great Depression. Bernanke made his comments in slides prepared for a ...
  • 1:51 PM » Deutsche Bank Unit Sued Over Mortgage Repurchase Claims - Bloomberg
    Published Thu, Mar 29 2012 1:51 PM by Bloomberg
    Deutsche Bank Unit Sued Over Mortgage Repurchase Claims Bloomberg A Deutsche Bank AG (DBK) unit was sued over the sale of mortgage bonds by investors who claim $250 million in damages and are demanding that the bank repurchase loans underlying their securities. DB Structured Products Inc. breached representations ...
  • 1:51 PM » Bank of America's Countrywide Wins Walnut Place Dismissal - Bloomberg
    Published Thu, Mar 29 2012 1:51 PM by Bloomberg
    Bank of America's Countrywide Wins Walnut Place Dismissal Bloomberg Bank of America Corp. (BAC)'s Countrywide won dismissal of a lawsuit filed in New York State Supreme Court in Manhattan related to mortage securitizations totaling $2.8 billion, according to court records. The plaintiff, Walnut Place LLC, ...
  • 1:51 PM » Plosser Says Fed May Need to Raise Rates Before End of 2014 - Bloomberg
    Published Thu, Mar 29 2012 1:51 PM by Bloomberg
    Plosser Says Fed May Need to Raise Rates Before End of 2014 Bloomberg Federal Reserve Bank of Philadelphia Charles Plosser said the Fed may need to raise interest rates before late 2014 and that additional stimulus isn't needed as the US economy shows signs of strength. "Now that unemployment is at 8.3 percent and ...
  • 12:26 PM » Senate Banking panel backs Obama's Fed nominees
    Published Thu, Mar 29 2012 12:26 PM by Market Watch
    WASHINGTON (MarketWatch) - The Senate Banking Committee on Thursday approved President Barack Obama's nominees to fill two vacancies on the Federal Reserve Board of Governors. The panel backed Harvard University economics professor Jeremy Stein, a Democrat, and former private-equity executive Jerome Powell, a Republican. The nominations now move to the Senate floor for a final confirmation vote. Sen. David Vitter, a Republican of Louisiana, said Wednesday he will oppose the nominees, which seemed to end chances of quick floor vote before the Senate begins a two-week recess at the end of the week.
  • 10:48 AM » EuroZone to "increase" bail out fund to E940bn
    Published Thu, Mar 29 2012 10:48 AM by The Big Picture
    The Japanese government is to announce it’s 1st (in 14 years, and to cover just 6 days of expenditures) stop gap budget as political wrangling has resulted in a lack of agreement on the budget ahead of the 1st April deadline. Japanese retail sales by +3.5% YoY (+2.0% MoM), the highest since August 2010 and [...]
    Click Here to Read the Full Article

    Source: The Big Picture
  • 10:15 AM » TransUnion Payment Hierarchy Study Finds Consumers Paying Auto Loans Before Credit Cards and Mortgages
    Published Thu, Mar 29 2012 10:15 AM by transunion.mwnewsroom.com
    TransUnion Payment Hierarchy Study Finds Consumers Paying Auto Loans Before Credit Cards and Mortgages<br/>http://transunion.mwnewsroom.com/press-releases/transunion-payment-hierarchy-study-finds-consumers-0867903?feed=abde9b49-8716-4c7b-b7a3-bff44ca35beb
    Click Here to Read the Full Article

    Source: transunion.mwnewsroom.com
  • 10:15 AM » A Look at Real Yields
    Published Thu, Mar 29 2012 10:15 AM by The Big Picture
    Source:Bianco Research > Treasury Yields: The 'Real' Story from 1920 to Now (MarketBeat WSJ Blog) Consider this: If the market geniuses are right, we're nearing the end of the 31-year decline in interest rates. This is only the third bull market for bonds since the late 19th century. The first lasted from 1873-1899, the second [...]
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    Source: The Big Picture
  • 10:11 AM » CoreLogic Reports Almost 65,000 Completed Foreclosures Nationally in February
    Published Thu, Mar 29 2012 10:11 AM by www.corelogic.com
    -Lower Foreclosure Rates than a Year Ago For Sixty-One of the Top 100 CBSAs- CoreLogic (NYSE: CLGX) , a leading provider of information, analytics and business services, today released its National Foreclosure Report for February, which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates. There were approximately 65,000 completed foreclosures in February 2012, compared to 66,000 in February 2011, and 71,000 in January 2012 . The number of completed foreclosures for the 12 months ending in February was 862,000. From the start of the financial crisis in September 2008, there have been approximately 3.4 million completed foreclosures. Approximately 1.4 million homes, or 3.4 percent of all homes with a mortgage, were in the foreclosure inventory as of February 2012 compared to 1.5 million, or 3.6 percent, in February 2011 and 1.4 million, or 3.4 percent, in January 2012. Nationally, the number of borrowers in the foreclosure inventory decreased by 115,000, a decline of 7.6 percent, in February 2012 compared to February 2011. "The pace of completed foreclosures is down slightly compared to January, running at an annualized pace of 670,000, but compares favorably to the pace of completed foreclosures in February a year ago. Even though the pace of completed foreclosures has slowed, the overall foreclosure inventory is decreasing because REO sales were up in February," said Mark Fleming, chief economist for CoreLogic. "With the spring buying season upon us, the inventory may decline further as the pace of distressed-asset sales rises along with the rest of the housing market." "In February, more than 60 major markets saw a decrease in their foreclosure rates compared to a year ago," said Anand Nallathambi, president and CEO of CoreLogic. "This combined with faster REO-clearing rates, better employment news, and continued historically low interest rates are all positive signs of improvement in the...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 10:10 AM » GAO-12-578T, Mortgage Financing: FHA and Ginnie Mae Face Risk-Management Challenges, March 29, 2012
    Published Thu, Mar 29 2012 10:10 AM by US GAO
    What GAO FoundFor the third consecutive year, the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) reported that the capital ratio for the Mutual Mortgage Insurance Fund—the ratio of the fund’s economic value to insurance obligations—has not met the 2 percent statutory minimum. FHA cites declines in the fund’s economic value due to higher-than-expected defaults, claims, and losses. At the same time, the other component of the ratio, insurance obligations, grew rapidly. The fund’s condition also worsened from a budgetary perspective, with balances in the fund’s capital reserve account reaching new lows. If the account were depleted, FHA would require more funds to help cover costs on insurance issued to date. FHA has indicated that it will narrowly avoid this scenario in fiscal year 2012. FHA enhanced methods for assessing the fund’s financial condition but has not fully addressed GAO’s 2010 recommendation for improving the reliability of its estimates. It relies on a single economic forecast, which does not fully account for variability in future house prices and interest rates. The approach GAO recommended would simulate numerous economic paths for house prices and interest rates would improve the reliability of its capital ratio estimates.FHA has taken or plans steps to better assess and manage risk. It created a risk office in 2010 and hired a consultant to recommend best practices. FHA plans to establish committees to evaluate risks at enterprise-wide and programmatic levels. It began a quality control initiative for single-family housing, in which program and field offices assess and report on risks, and enhanced lender and appraiser reviews. While FHA’s consultant recommended integrating risk assessments, the quality control and risk office activities currently remain separate efforts. Also, since 2009, the Office of Single Family Housing...
  • 10:09 AM » 30-Year Fixed-Rate Mortgage Dips Back Below 4.00 Percent
    Published Thu, Mar 29 2012 10:09 AM by Freddie Mac
    McLEAN, Va., March 29, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates, fixed and adjustable, moving l...
  • 8:25 AM » Geithner says closer to Fannie, Freddie reform
    Published Thu, Mar 29 2012 8:25 AM by Market Watch
    Treasury Secretary Timothy Geithner said reform of Fannie Mae and Freddie Mac was gaining traction in Congress but analysts said progress would have to wait until after the election.
  • 8:25 AM » Mortgage Write-Downs Granted Here, There ? Not Everywhere
    Published Thu, Mar 29 2012 8:25 AM by WSJ
    Fannie Mae and Freddie Mac aren't granting reductions in homeowners? loan balances, but a handful of Americans who have gotten into trouble on their mortgages are actually seeing their loan balances cut.
  • 8:25 AM » Chasing Shadow Inventory: Sloppy Foreclosures and Unintended Consequences
    Published Thu, Mar 29 2012 8:25 AM by RealtyTrac
    RealtyTrac Vice President Daren Blomquist writes on the shadow inventory issue in the March 2012 issue of Cityscape, a journal published by the U.S. Department of Housing and Urban Development.
  • 8:22 AM » Geithner Says Fannie, Freddie Should Cut Principal in Some Cases - Bloomberg
    Published Thu, Mar 29 2012 8:22 AM by Bloomberg
    Bloomberg Geithner Says Fannie, Freddie Should Cut Principal in Some Cases Bloomberg US Treasury Secretary Timothy F. Geithner told a US Senate panel that he believes Fannie Mae and Freddie Mac should reduce principal on some home mortgages. "We've been encouraging Fannie and Freddie to take another look at the map, at the economics of ... and more »
  • 8:21 AM » UNC study shows homeownership helps stabilize low-income neighborhoods
    Published Thu, Mar 29 2012 8:21 AM by UNC
    UNC study shows homeownership helps stabilize low-income neighborhoods<br/>http://www.ccc.unc.edu/news/news.032812.php
  • 8:20 AM » House panel clears FHA solvency bill
    Published Thu, Mar 29 2012 8:20 AM by NAFCU
    H.R. 4264, a bill to shore up the Federal Housing Administration's mortgage insurance fund, was cleared by the House Financial Services Committee Tuesday on voice vote and awaits House action.
  • 8:19 AM » Geithner's Math Puzzle Beyond Numbers for DeMarco: Mortgages - Bloomberg
    Published Thu, Mar 29 2012 8:19 AM by Bloomberg
    Geithner's Math Puzzle Beyond Numbers for DeMarco: Mortgages Bloomberg Timothy F. Geithner is giving Edward J. DeMarco, Fannie Mae and Freddie Mac's overseer, some math homework. For DeMarco, it's also a psychology question. Geithner, the US Treasury secretary, is offering new incentive payments to the two ... and more »
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Mortgage Rates:
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  • Jumbo 30 Year Fixed 3.88%
MBS Prices:
Recent Housing Data:
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  • Refinance Index 10.63%
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  • FHFA Home Price Index 0.67%