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  • Thu, Dec 12 2013
  • 9:20 PM » Write-Down Reversal Helps Hovnanian Book 2013 Profit
    Published Thu, Dec 12 2013 9:20 PM by WSJ
    Home builder Hovnanian Enterprises Inc. signaled Thursday that the housing market recovery regained some lost ground of late as the builder's new sales contracts bounced back in October and November.
  • 9:19 PM » Traders fear Fed uncertainty more than Friday 13th
    Published Thu, Dec 12 2013 9:19 PM by CNBC
    While Friday the 13th can often be lucky for stocks, traders are watching to see if dip buyers will step in to provide some support for the market.
  • 9:19 PM » Are rising interest rates actually a good thing?
    Published Thu, Dec 12 2013 9:19 PM by CNBC
    Some investors might be spooked by higher interest rates, but noted investor Bob Olstein thinks it's a good thing.
  • 9:19 PM » U.S. can add Wells Fargo executive as mortgage fraud defendant
    Published Thu, Dec 12 2013 9:19 PM by Reuters
    NEW YORK (Reuters) - The United States may add Wells Fargo & Co Vice President Kurt Lofrano as a defendant in its year-old lawsuit accusing the country's largest mortgage lender of fraud, a Manhattan federal judge said.
  • 9:19 PM » U.S. Bond Demand Wanes as Taper Bets Rise Amid Data, Budget Deal - Bloomberg
    Published Thu, Dec 12 2013 9:19 PM by Bloomberg
    U.S. Bond Demand Wanes as Taper Bets Rise Amid Data, Budget Deal Bloomberg The government sale of $13 billion in U.S. 30-year (USGG30YR) bonds drew the highest yield in more than two years as data signaled an improving economy, adding to bets the Federal Reserve may cut bond purchases as soon as next week. and more »
  • 5:08 PM » Federal Reserve's Balance Sheet Jumps to $3.994 Trillion - Bloomberg
    Published Thu, Dec 12 2013 5:08 PM by Bloomberg
    Federal Reserve's Balance Sheet Jumps to $3.994 Trillion Bloomberg The Federal Reserve's record balance sheet neared $4 trillion as the central bank amasses Treasuries and mortgage-backed securities to help lower long-term interest rates to spur economic growth. Assets rose $61.3 billion to $3.994 trillion in the past week,  ...
  • 3:09 PM » Agencies Issue Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
    Published Thu, Dec 12 2013 3:09 PM by FHFA
    December 12, 2013: Agencies Issue Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
  • 2:31 PM » Freddie Mac Announces Holiday Eviction Moratorium Between December 18, 2013 to January 3, 2014
    Published Thu, Dec 12 2013 2:31 PM by freddiemac.mwnewsroom.com
    Freddie Mac Announces Holiday Eviction Moratorium Between December 18, 2013 to January 3, 2014
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 1:48 PM » Fed Scorecard: Where Do Officials Stand on Tapering?
    Published Thu, Dec 12 2013 1:48 PM by WSJ
    As Federal Reserve officials approach their pivotal monetary policy meeting next week, markets want to know the answer to one question: Is it time to taper?
  • 12:51 PM » Trulia: 2014 Will Be The Year Of Repeat Home Buyer
    Published Thu, Dec 12 2013 12:51 PM by The Huffington Post
    The housing market continued its uneven recovery in 2013 and will enter 2014 closer to normal than it was a year earlier. Consumer optimism is climbing back: in Trulia's latest survey, 74% of Americans said that homeownership was part of achieving their personal American Dream - the highest level since January 2010. Even among young adults (18-34 year olds), many of whom struggled through the recession and are still living with their parents, 73% said homeownership was part of achieving their personal American Dream, up from 65% in August 2011. Rising prices over the past two years have been great news for homeowners, especially for those who had been underwater, and the real estate industry has benefited from both higher prices and more sales volume. At the same time, the effects of the recession and housing bust still sting: the barriers to homeownership remain high, and a few markets - mostly in Florida - still have a foreclosure overhang. Plus, the housing recovery itself brings its own challenges, including declining affordability and localized bubble worries, especially in southern California . Barring any economic crises, the housing market should continue to normalize. Here are 5 ways that the 2014 housing market will be different from 2013: Housing Affordability Worsens. Buying a home will be more expensive in 2014 than in 2013. Although home-price increases should slow from this year's unsustainably fast pace (see #4, below), prices will still rise faster than both incomes and rents. Also, mortgage rates will be higher in 2014 than in 2013, thanks both to the strengthening economy (rates tend to rise in recoveries) and to Fed tapering, whenever it comes. The rising cost of homeownership will add insult to injury in America's least affordable markets : in October 2013, for instance, 25% or less of the homes listed for sale in San Francisco, Orange County, Los Angeles, and New York were affordable to middle class households. Nonetheless, buying will...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 12:50 PM » Fed's Evans Says CFTC Right to Reevaluate Computerized Trading - Bloomberg
    Published Thu, Dec 12 2013 12:50 PM by Bloomberg
    Fed's Evans Says CFTC Right to Reevaluate Computerized Trading Bloomberg U.S. regulators should reevaluate whether markets have sufficient risk controls in place to oversee high-frequency trading, Federal Reserve Bank of Chicago President Charles Evans said. The Commodity Futures Trading Commission and other agencies are  ...
  • 12:40 PM » Borrowers struggle to pay off home equity loans
    Published Thu, Dec 12 2013 12:40 PM by CNBC
    While fewer borrowers are falling behind on their mortgages, more home equity loans are becoming delinquent.
  • 12:37 PM » FDIC Consumer Newsletter Highlights New Rules and Tips for Mortgage Borrowers
    Published Thu, Dec 12 2013 12:37 PM by content.govdelivery.com
    Press Release FDIC Consumer Newsletter Highlights New Rules and Tips for Mortgage Borrowers Other Topics Include Information About Being Turned Down for a Checking Account and Using Social Media to Connect With Your Bank FOR IMMEDIATE RELEASE December 12, 2013 Media Contact: Jay Rosenstein (202) 898-7303 Email: jrosenstein@fdic.gov   For anyone thinking about buying a home or shopping for a mortgage, the Fall 2013 issue of FDIC Consumer News features an overview of important rules taking effect soon that are intended to protect consumers from risky loans. The coverage includes practical tips when shopping for a loan and for avoiding mortgage scams. Additional articles offer suggestions on options to consider if an institution turns you down for an account based on a report of a previously closed checking or savings account, as well as information on using a financial institution's social media site to communicate or conduct business with a bank. Here's an overview of this issue, which also marks the 20th anniversary of the FDIC newsletter: New mortgage rules: Important new rules from the Consumer Financial Protection Bureau, which will implement provisions of the 2010 Dodd-Frank financial reform law, are primarily intended to ensure that consumers are not encouraged by a lender or loan broker to take a mortgage that they don't have the ability to repay. Other provisions will help consumers do a better job of protecting themselves during the loan origination process. Most of the new rules will take effect on January 10, 2014. Mortgage scams: FDIC Consumer News is reminding mortgage borrowers to watch out for scammers who falsely claim to be lenders, loan servicers, financial counselors, representatives of government agencies or other professionals wanting to "help" fix loan payment problems. The newsletter presents common warning signs of fraudulent offers. If you're turned down for a checking account: Certain "consumer reporting"...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 10:39 AM » Key GDP component jumps most in 9 months
    Published Thu, Dec 12 2013 10:39 AM by CNBC
    The Commerce Department said on Thursday inventories increased 0.7 percent, the largest gain since January.
  • 9:36 AM » TransUnion Forecasts Mortgage Delinquency Rate Decline to Slow in 2014; Credit Card Delinquency to Remain at Healthy Level
    Published Thu, Dec 12 2013 9:36 AM by transunion.mwnewsroom.com
    TransUnion Forecasts Mortgage Delinquency Rate Decline to Slow in 2014; Credit Card Delinquency to Remain at Healthy Level<br/>http://transunion.mwnewsroom.com/press-releases/transunion-forecasts-mortgage-delinquency-rate-dec-1075717?feed=abde9b49-8716-4c7b-b7a3-bff44ca35beb
    Click Here to Read the Full Article

    Source: transunion.mwnewsroom.com
  • 9:35 AM » November's U.S. Housing Numbers: Not a Lot to Give Thanks For
    Published Thu, Dec 12 2013 9:35 AM by blog.redfin.com
    While the real estate market typically softens as the holiday season nears, this November saw an unexpectedly sharp drop in sales. In November, home sales fell below 2012 levels for the first time this year, dropping 10.9 percent year over year and 16.8 percent from October. Read More The post November’s U.S. Housing Numbers: Not a Lot to Give Thanks For appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 9:34 AM » This Man Wants to Lower Your Mortgage Payment
    Published Thu, Dec 12 2013 9:34 AM by business.time.com
    The Federal Housing Finance Authority — overseer of housing giants Fannie Mae and Freddie Mac — finally got a new Director when North Carolina Congressman Mel Watt was confirmed to the post by the Senate yesterday. The move was one of the less publicized results of the Senate ending the filibuster for many Presidential appointments late last month, but it actually could end up being one the most consequential. The main reason why President Obama had been unable to confirm his own pick to head the agency is Congressional Republicans’ distaste for a “principal reduction” program aimed at helping underwater homeowners with mortgages owned or guaranteed by Fannie Mae and Freddie Mac. A program of principal reduction would, likely with the help of federal TARP dollars, write down the value of mortgages for homeowners that owe more on their home than it’s worth. Theoretically, such a program could be a win-win because it would make underwater homeowners more likely to pay the remainder of their mortgages rather than walking away from the property and handing over the keys. Principal reduction could help taxpayers in two ways. First–since taxpayers are effectively the owners and guarantors of Fannie and Freddie mortgages– they benefit from the fact that on average such a program would increase the likelihood that homeowners stay in their homes and pay the rest of what they owe. Foreclosure is a very costly process for mortgage lenders, and so targeted principal reduction could make the portfolio of mortgages owned or guaranteed by Fannie and Freddie more valuable. Secondly, by lessening the burden underwater homeowners face, we’d be stimulating the economy more broadly. For years, acting director Ed Demarco resisted principal reduction, arguing that such a program would violate his statutory duty to protect taxpayers. The only problem is that study after study has argued that done correctly...
    Click Here to Read the Full Article

    Source: business.time.com
  • 9:01 AM » Fewer US homes entered foreclosure path in Nov.
    Published Thu, Dec 12 2013 9:01 AM by CNBC
    Lenders initiated foreclosure action against 52,826 U.S. homes in November, down 10 percent from the previous month and a drop of 32 percent from November last year, according to new data from foreclosure listing firm RealtyTrac Inc.. Foreclosure starts increased last month on an annual basis in 15 states, including Pennsylvania, Delaware, Maryland and Oregon.
  • 9:01 AM » The new investment vehicle for the rich: subprime mortgages
    Published Thu, Dec 12 2013 9:01 AM by Market Watch
    Subprime mortgages rebranded as 'sane,' 'smart.'
  • 8:25 AM » 500-page mortgage applications are the new normal
    Published Thu, Dec 12 2013 8:25 AM by CNN
    Years after the housing market melted down, lenders are lamenting the loss of thin, sleek mortgage application files.
  • 8:24 AM » US bonds hold losses; Washington in focus
    Published Thu, Dec 12 2013 8:24 AM by CNBC
    U.S. Treasury bonds held losses on Thursday, ahead of retail sales data for November.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.44%
  • |
  • 15 Yr FRM 3.49%
  • |
  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (-0-12)
  • |
  • 30YR FNMA 5.0 109-02 (-0-06)
  • |
  • 30YR FNMA 5.5 110-07 (-0-07)
Recent Housing Data:
  • Mortgage Apps 4.30%
  • |
  • Refinance Index 6.92%
  • |
  • FHFA Home Price Index 0.67%