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  • Mon, Jan 28 2013
  • 10:49 PM » Falling Inventory Has Created a Housing "Pre-Covery," not "Recovery"
    Published Mon, Jan 28 2013 10:49 PM by Google News
    I was speaking at the New York Real Estate Bar Camp recently and asked the audience what to call the state of housing market right now, since I objected to the use of the word “recovery” and “a period of... Read More
  • 10:44 PM » How the NLRB Ruling Could Scramble Mortgage Markets
    Published Mon, Jan 28 2013 10:44 PM by WSJ
    Banks and mortgage companies thought that they were getting a clear set of ground rules earlier this month when regulators spelled out long-awaited rules clarifying how they could satisfy new mortgage standards. But a new court ruling is calling all of that clarity into question.
  • 10:43 PM » Housing emerges as economic bright spot after years in the dark
    Published Mon, Jan 28 2013 10:43 PM by Washington Post
    The nation's housing market is surging again after years of historic declines, and the unique forces powering its return could last well into 2013. The number of homes for sale is at its lowest level since before the recession, sparking competition among buyers that has led to 10 straight months of price increases. The volume of activity is the highest since 2007. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:42 PM » Stock Market Bull Strolls Toward Further Gains as Fed Meets
    Published Mon, Jan 28 2013 10:42 PM by CNBC
    Stocks took a breather after an eight day run, but the bull isn't ready to give up yet. The S&P 500 lost 2 points Monday to end at the psychologically important 1500 level, in its first decline in eight days. The Dow lost 14, to 13,881, its first drop in six days. The Nasdaq, meanwhile, closed higher, up 4 at 3154, as Apple gained more than 2 percent after last week's steep decline.
  • 10:42 PM » Ratcliffe speaks on safe low down-payment mortgage lending
    Published Mon, Jan 28 2013 10:42 PM by UNC
    Ratcliffe speaks on safe low down-payment mortgage lending<br/>http://www.ccc.unc.edu/news/news.012813.php
  • 4:02 PM » Euro Zone Skies Are Not Yet Clear: Experts
    Published Mon, Jan 28 2013 4:02 PM by CNBC
    The euro has been strengthening on signs of improvement in key European economies and falling interest rates elsewhere, but this expert says the euro zone is not yet out of the woods.
  • 2:55 PM » Treasury OK'd ‘excessive' TARP CEO pay: watchdog
    Published Mon, Jan 28 2013 2:55 PM by Market Watch
    Top executives and employees at three big companies that reaped among the largest taxpayer bailouts were paid "excessive" compensation in 2012 even though Treasury officials monitoring their pay had the authority to limit their packages, a key government oversight unit says in a critical report.
  • 2:42 PM » Fed to release big bank stress tests March 7
    Published Mon, Jan 28 2013 2:42 PM by Market Watch
    WASHINGTON (MarketWatch) - The Federal Reserve said Monday it was conducting stress tests on 30 big financial institutions and it will release results from 19 of the banks on March 7, as part of its effort to ensure large institutions have enough capital to withstand a deep recession and sharp drop in stocks. It added that the results of stress tests conducted on 11 other institutions won't be released. The Fed said one week later it will release alternative tests on the biggest institutions. On Monday the Fed also released additional details of its severely adverse scenarios for six banks with large trading operations. These institutions, Bank of America , Citigroup , Goldman Sachs , J.P. Morgan Chase , Morgan Stanley and Wells Fargo , will need to consider a global market shock that includes having equity markets and dividends in the U.S. dropping significantly.
  • 1:59 PM » Wells Fargo Adapts Mortgage Pay to Reward Speed and File Quality
    Published Mon, Jan 28 2013 1:59 PM by Bloomberg
    Wells Fargo Adapts Mortgage Pay to Reward Speed and File Quality Bloomberg Wells Fargo & Co. (WFC), the largest U.S. home lender, changed its compensation for some mortgage salespeople to include a reward for submitting complete loan applications to processors and underwriters within five days. Pay for salespeople this year will ...
  • 1:58 PM » Interest Rates Are Spiking But May Not Last Long
    Published Mon, Jan 28 2013 1:58 PM by CNBC
    The sudden rise in interest rates to nine-month highs doesn't yet signal a turn, but that could change if Congress resolves the fiscal crisis hanging over the markets. On Monday, the yield on the 10-year Treasury briefly rose above 2 percent for the first time since April, in part due to the stronger than expected report on durable goods orders.
  • 1:57 PM » SEC Charges Former Jefferies Executive with Defrauding Investors in Mortgage-Backed Securities
    Published Mon, Jan 28 2013 1:57 PM by SEC
    FOR IMMEDIATE RELEASE 2013-12 Washington, D.C., Jan. 28, 2013 — The Securities and Exchange Commission today charged a former executive at New York-based broker-dealer Jefferies & Co. with defrauding investors while selling mortgage-backed securities (MBS) in the wake of the financial crisis so he could generate additional revenue for his firm. Additional Materials SEC Complaint According to the SEC’s complaint filed in federal court in Connecticut, Jesse Litvak arranged trades for customers as part of his job as a managing director on the MBS desk at Jefferies.  Litvak would buy a MBS from one customer and sell it to another customer, but on many occasions he lied about the price at which his firm had bought the MBS so he could re-sell it to the other customer at a higher price and keep more money for the firm.  On other occasions, Litvak misled purchasers by creating a fictional seller to purport that he was arranging a MBS trade between customers when in reality he was just selling MBS out of his firm’s inventory at a higher price.  Because MBS are generally illiquid and difficult to price, it is particularly important for brokers to provide honest and accurate information.  The SEC alleges that Litvak generated more than $2.7 million in additional revenue for Jefferies through his deceit.  His misconduct helped him improve his own standing at the firm, as his bonuses were determined in part by the amount of revenue he generated for the firm. “Brokers must always tell their customers the truth, particularly in complex securities transactions in which it is difficult for investors to determine market prices on their own,” said George Canellos, Deputy Director of the SEC’s Division of Enforcement.  “Litvak repeatedly lied to his customers and invented facts to bring additional profits into his firm and ultimately his own pocket at their...
  • 12:13 PM » OCC Chief Says Reviving Mortgage Securitization Is Recovery Key
    Published Mon, Jan 28 2013 12:13 PM by Bloomberg
    OCC Chief Says Reviving Mortgage Securitization Is Recovery Key Bloomberg Reopening the U.S. mortgage securitization pipeline is a vital step toward a housing market recovery that will boost the wider economy, Comptroller of the Currency Thomas Curry said today in a Las Vegas speech. "Underwriting standards will need to find a ...
  • 11:40 AM » New Consumer Bureau Decapitated by Court Ruling
    Published Mon, Jan 28 2013 11:40 AM by Bloomberg
    New Consumer Bureau Decapitated by Court Ruling Bloomberg It was obvious that the Consumer Financial Protection Board was in trouble almost as soon as a federal appeals court ruled late last week that President Barack Obama had overreached in bypassing the Senate to install three people on a labor-relations ... and more »
  • 11:40 AM » Fed Debates When to Slow Asset Buying
    Published Mon, Jan 28 2013 11:40 AM by CNBC
    Debate at the Federal Reserve is is shifting from whether the Fed should do more to stimulate the economy to when it should start doing less. NYT reports.
  • 10:19 AM » Pending Home Sales Fall Due to Dwindling Supply
    Published Mon, Jan 28 2013 10:19 AM by CNBC
    Signed contracts to buy existing homes fell 4.3 percent in December from the previous month, according to a monthly index from the National Association of Realtors. The group says it is not lack of demand but supply at the end of 2012 that pushed the numbers down.
  • 10:15 AM » Pending Home Sales Down in December but Remain on Uptrend
    Published Mon, Jan 28 2013 10:15 AM by Google News
    WASHINGTON (January 28, 2013) - Pending home sales declined in December but have stayed above year-ago levels for 20 consecutive months, according to the National Association of Realtors ® . The Pending Home Sales Index , * a forward-looking indicator based on contract signings, fell 4.3 percent to 101.7 in December from 106.3 in November but is 6.9 percent higher than December 2011 when it was 95.1. The data reflect... Read More
  • 8:11 AM » Fannie Adds Bailout For Underwaters Walkaways
    Published Mon, Jan 28 2013 8:11 AM by Bloomberg
    Fannie Adds Bailout For Underwaters Walkaways: Mortgages Bloomberg Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out ...
  • 8:10 AM » US Futures Point to Pause in Rally
    Published Mon, Jan 28 2013 8:10 AM by CNBC
    U.S. stock index futures pointed to a pause in the recent rally as markets in Europe and Asia stalled on investor caution regarding fourth-quarter earnings.
  • 8:09 AM » Caterpillar Earnings Miss, Sending Shares Lower
    Published Mon, Jan 28 2013 8:09 AM by CNBC
    Caterpillar reported quarterly earnings on Monday that fell far short of Wall Street's expectations, sending its shares lower in pre-market trading.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.95%
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  • 15 Yr FRM 3.13%
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  • Jumbo 30 Year Fixed 3.90%
MBS Prices:
  • 30YR FNMA 4.5 108-09 (0-00)
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  • 30YR FNMA 5.0 110-21 (0-01)
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  • 30YR FNMA 5.5 111-18 (0-00)
Recent Housing Data:
  • Mortgage Apps 11.56%
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  • Refinance Index 23.29%
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  • FHFA Home Price Index 0.67%