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  • Fri, Dec 13 2013
  • 4:33 PM » Reid Says Budget Nod Necessary to Avoid Party 'Suicide' - Bloomberg
    Published Fri, Dec 13 2013 4:33 PM by Bloomberg
    Reid Says Budget Nod Necessary to Avoid Party 'Suicide' Bloomberg Senate Majority Leader Harry Reid predicts the Senate next week will confirm Janet Yellen to chair the Federal Reserve and will clear a budget agreement unless Republicans intend to commit "political suicide." "Here is one of the agreements that is a  ... and more »
  • 4:33 PM » Busy next week with Fed meeting in focus
    Published Fri, Dec 13 2013 4:33 PM by CNBC
    Considering it's close to Christmas, next week will be busy. There is considerable interest in the Fed's very large POMO operation on Thursday.
  • 3:44 PM » Ginnie Mae to Provide Loan-Level Data on Existing Single-Family Mortgage-Backed Securities
    Published Fri, Dec 13 2013 3:44 PM by www.ginniemae.gov
    Washington, D.C. - Ginnie Mae announced today that beginning Friday, December 13, 2013, it will release monthly loan-level data for existing, active single-family mortgage-backed securities (MBS). The first release will provide files for the October and November 2013 report periods. Beginning in January 2014, the monthly loan data will be released on the 10th business day of the month. "The release of loan-level data for existing single-family MBS is an important step toward improving our transparency," said Ginnie Mae President Ted Tozer. "Enhancing MBS disclosures assists Ginnie Mae in attracting global capital by meeting the needs of investors more effectively and enabling them to make better-informed investment decisions." This latest release of loan data will include all active loans in single family pools. The data will be disclosed in two files: one for Ginnie Mae I data and one for Ginnie Mae II data. Both loan-level disclosure files will include information regarding borrowers' debt-to-income ratios, delinquencies and credit scores.
    Click Here to Read the Full Article

    Source: www.ginniemae.gov
  • 3:26 PM » Watt Now? (Or, Can Mel Watt Fix the Housing Crisis?)
    Published Fri, Dec 13 2013 3:26 PM by The Huffington Post
    News coverage of the Senate's confirmation of Congressman Mel Watt on Tuesday to head the Federal Housing Finance Agency (FHFA) was all about politics, not the housing or banking issues he now has to address. Nominated by President Barack Obama in May, Republicans blocked his approval for seven months. They claimed that Watt was not qualified for the position, despite his Yale law degree and his two decades of service on the House Financial Services Committee. In fact, their opposition had nothing to do with Watt's qualifications. He was simply a victim of Washington's partisan gridlock. On October 31, the Senate voted 56-42 on his behalf, but it was four votes shy of the 60 needed on the cloture motion to move forward. That made Watt the first sitting member of Congress since 1843 to be rejected by his peers for a cabinet-level position. For Democrats, the Republicans' rejection of Watt, as well as their rejection of Patricia Millett for a seat on the U.S. Court of Appeals for the District of Columbia, was the straw the broke the camel's back. It galvanized them to change the rules to allow the President to make executive-level and court appointments by garnering a simple majority. Under the new rules, Watt finally got the support he needed, securing a 57 to 41 vote to lead the powerful agency that regulates mortgage giants Fannie Mae and Freddie Mac, which own or guarantee about half of the nation's mortgages. Although news reports paid little attention to Watt's new responsibilities as FHFA director, housing and bank reform advocates view his confirmation as a major victory. Some pundits and politicians claim that America's housing market is now recovering from plummeting home prices and a years-long lull in new construction. But the so-called recovery is very uneven. Many communities remain devastated by widespread foreclosures and vacant homes. Many foreclosed houses in the hardest-hit areas are being purchased by Wall Street hedge...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 2:18 PM » NAR Praises Positive Federal Housing Administration Actuarial Review
    Published Fri, Dec 13 2013 2:18 PM by Google News
    WASHINGTON (December 13, 2013) – The following is a statement by National Association of Realtors® President Steve Brown: “NAR is a strong supporter of the Federal Housing Administration and its vital role in the mortgage marketplace. “The 2013 Actuarial Review released today shows that FHA is on a positive trajectory to rebuild its capital reserve fund and meet the congressionally required 2 percent excess reserve amount by 2015. These promising gains are the result of strong leadership and a commitment to policies that balance risk with FHA’s... Read More
  • 2:17 PM » STEVENS: Resisting the seduction of housing speculation
    Published Fri, Dec 13 2013 2:17 PM by www.washingtontimes.com
    Despite the recent revival of Fannie and Freddie, the market still needs reform.
    Click Here to Read the Full Article

    Source: www.washingtontimes.com
  • 2:15 PM » The healthiest housing markets? It'll surprise you
    Published Fri, Dec 13 2013 2:15 PM by CNBC
    Who would have thought that five of Zillow's top 10 healthiest housing markets would be in this state?
  • 2:02 PM » Really Awesome Example of Hilariously Imbalanced Political Posturing re: FHA
    Published Fri, Dec 13 2013 2:02 PM by House Financial Services
    Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on Friday about the $1.3 billion projected shortfall at the Federal Housing Administration (FHA). "Today's news confirms what advocates of FHA reform have known for years - that a broke FHA is a broken FHA. It's been barely two months since hardworking taxpayers were forced to bailout the FHA with $1.7 billion and we're already faced with the prospect of another bailout for the FHA next year. The American people want to end the destructive cycle of boom, bust and bailout that Washington housing policies have helped foster. They do not want an economy laid low by unsustainable levels of debt. Regrettably, the FHA, as it operates today, exacerbates both. "This latest bad news about the FHA's finances simply reinforces the need for the reforms embodied in the Protecting American Taxpayers and Homeowners Act, the PATH Act, which our committee passed in July. "The PATH Act will put FHA on sound financial footing and keep it there. It clearly defines FHA's mission to ensure that the agency is serving first-time homebuyers and low-to-moderate-income borrowers. The PATH Act shifts risk away from the taxpayers and into the private sector by reducing FHA's footprint and making sure the agency is complementing the private sector, not competing with it. It ensures that FHA runs its single-family insurance fund according to the basic tenets of mortgage insurance. And finally, the PATH Act mandates the insurance of the 30-year fixed mortgage and retains FHA's countercyclical role. "The time for FHA reform is now. We cannot and should not wait until the next taxpayer bailout."
    Click Here to Read the Full Article

    Source: House Financial Services
  • 11:12 AM » FHA Actuarial Report Finds Agency Still Unable to Cover Losses - Bloomberg
    Published Fri, Dec 13 2013 11:12 AM by Bloomberg
    FHA Actuarial Report Finds Agency Still Unable to Cover Losses Bloomberg The Federal Housing Administration remains unable to cover projected losses in the $1.1 trillion portfolio of home loans it backs, an independent actuary said in an annual report. The government mortgage insurer, which is required to keep enough funds on  ... and more »
  • 11:10 AM » Agencies Issue Statement on Supervisory Approach for Qualified and Non-Qualified Mortgage Loans
    Published Fri, Dec 13 2013 11:10 AM by OCC
    Four federal financial institution regulatory agencies today issued a statement to clarify safety-and-soundness expectations and Community Reinvestment Act (CRA) considerations related to Qualified Mortgage loans and non-Qualified Mortgage loans offered by regulated institutions.
  • 11:10 AM » FHA Issues Annual Financial Status Report to Congress
    Published Fri, Dec 13 2013 11:10 AM by HUD
    The U.S. Department of Housing and Urban Development (HUD) today released its annual report to Congress on the financial condition of the Federal Housing Administration (FHA) Mutual Mortgage Insurance (MMI) Fund. The independent actuarial report shows that FHA's Mutual Mortgage Insurance Fund (MMIF) has gained $15 billion dollars in value over the last year and now stands at negative $1.3 billion. The current capital ratio is negative 0.11 percent. The actuary anticipates that the Fund will return to the required two percent capital reserve ratio in 2015, two years sooner than projected last year. Meanwhile, FHA maintains over $48 billion in liquid assets to pay expected claims.
  • 10:21 AM » How to Make San Francisco's Housing More Affordable - Bloomberg
    Published Fri, Dec 13 2013 10:21 AM by Bloomberg
    How to Make San Francisco's Housing More Affordable Bloomberg On many economic issues, such as the minimum wage, there is a trade-off between freedom and equality. When it comes to San Francisco's high housing costs, however, libertarianism and egalitarianism are on the same side. And San Franciscans who are  ...
  • 9:39 AM » Mel Watt: A new Captain in charge of America's Housing Market
    Published Fri, Dec 13 2013 9:39 AM by www.npr.org
    The Senate this week pushed through the nomination of Democrat Mel Watt to head the Federal Housing Finance Agency. The FHFA controls Fannie Mae and Freddie Mac. DeMarco was a thorn in the side of democrats... and the move changes the landscape of housing finance reform.
  • 9:39 AM » Producer prices fall for third straight month in November
    Published Fri, Dec 13 2013 9:39 AM by Reuters
    WASHINGTON (Reuters) - U.S. producer prices fell for a third straight month in November, pointing to a lack of inflation that could give the Federal Reserve pause as it weighs the future of its monthly bond purchases.
  • 8:07 AM » Worst year in history for bond funds
    Published Fri, Dec 13 2013 8:07 AM by CNN
    Forget about the bond bloodbath in 1994. This is shaping up to be the worst year in history for bond funds.
  • 8:07 AM » BofA's Merrill pays $132 million in mortgage probe
    Published Fri, Dec 13 2013 8:07 AM by CNBC
    Bank of America has agreed to pay $131.8 million to settle charges that it misled investors about mortgage securities.
  • 8:00 AM » US bonds tread water; await more Fed taper hints
    Published Fri, Dec 13 2013 8:00 AM by CNBC
    U.S. Treasury bonds held losses on Friday, ahead of the publication of the Producer Price Index (PPI) for November at 8:30 a.m. ET.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.19%
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  • 15 Yr FRM 3.32%
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  • Jumbo 30 Year Fixed 4.03%
MBS Prices:
  • 30YR FNMA 4.5 107-28 (0-05)
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  • 30YR FNMA 5.0 110-08 (0-02)
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  • 30YR FNMA 5.5 110-28 (-0-02)
Recent Housing Data:
  • Mortgage Apps 2.43%
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  • Refinance Index 4.14%
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  • FHFA Home Price Index 0.67%