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What is Around the Web?
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  • Thu, Feb 28 2013
  • 11:58 PM » Fed's Evans sees economy achieving "escape velocity" by 2014
    Published Thu, Feb 28 2013 11:58 PM by Reuters
    DES MOINES, Iowa (Reuters) - The U.S. economy should emerge from the doldrums next year if the Federal Reserve sticks to its super-easy monetary policies, a top Fed official said on Thursday, even as he warned that cutting back too early would be a "big mistake."
  • 9:36 PM » Bair Says Regulators Lack Spine to Name Systemic Firms
    Published Thu, Feb 28 2013 9:36 PM by Business Week
    Bair Says Regulators Lack Spine to Name Systemic Firms Businessweek Sheila Bair, former chairman of the Federal Deposit Insurance Corp., said U.S. regulators lack the courage to designate non-bank financial companies systemically important and aren't doing their job. "It's lack of will, it's lack of courage, it's lack of spine," Bair ...
    Click Here to Read the Full Article

    Source: Business Week
  • 9:34 PM » Rep. Waters: Regulator Needs Plan on ‘Forced' Homeowners Insurance
    Published Thu, Feb 28 2013 9:34 PM by WSJ
    A key lawmaker on Capitol Hill is not happy with a federal housing regulator's lack of action on a plan to rein in the cost of backup homeowners' insurance policies.
  • 8:04 PM » Why The Jumbo Mortgage Market Is So Hot
    Published Thu, Feb 28 2013 8:04 PM by The Basis Point
    Jumbo rates are almost as low as conforming rates. Here's why it's happening.
    Click Here to Read the Full Article

    Source: The Basis Point
  • 7:49 PM » Minnesota Counties Sue MERS, JPMorgan Over Filing Fees
    Published Thu, Feb 28 2013 7:49 PM by Bloomberg
    Minnesota Counties Sue MERS, JPMorgan Over Filing Fees Bloomberg (Corrects date of filing in second paragraph.) Minnesota's Ramsey and Hennepin counties, which include the cities of St. Paul and Minneapolis, sued Mortgage Electronic Registration Systems Inc. and three of the biggest U.S. banks, claiming their use of ...
  • 7:49 PM » Freddie Mac Ends 2012 With Profit on Gains in U.S. Housing
    Published Thu, Feb 28 2013 7:49 PM by Bloomberg
    Freddie Mac Ends 2012 With Profit on Gains in U.S. Housing Bloomberg Freddie Mac said rising home prices and falling mortgage delinquencies helped it post a profit for the fourth quarter and all of 2012, allowing it to avoid drawing more funds from U.S. taxpayers. The U.S.-owned mortgage financier, based in McLean, Virginia, ... and more »
  • 7:48 PM » National Association of Realtors continues to oppose FHA reform
    Published Thu, Feb 28 2013 7:48 PM by www.aei.org
    The National Association of Realtors (NAR) continues to present what it calls "FHA Facts," claiming now is not the time for reform.
  • 7:42 PM » Freddie Mac Reports Fourth Quarter and Full-Year 2012 Financial Results
    Published Thu, Feb 28 2013 7:42 PM by freddiemac.mwnewsroom.com
    Freddie Mac Reports Fourth Quarter and Full-Year 2012 Financial Results
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 3:47 PM » McAndrews: The Economy and the Household Debt and Credit Report
    Published Thu, Feb 28 2013 3:47 PM by NY Fed
    Remarks by James McAndrews at the Household Debt and Credit Press Briefing, New York City
  • 3:30 PM » CoreLogic Reports 61,000 Completed Foreclosures in January
    Published Thu, Feb 28 2013 3:30 PM by www.corelogic.com
    -The Foreclosure Inventory Has Fallen Year Over Year for 15 Consecutive Months- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its National Foreclosure Report, which provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic, there were 61,000 completed foreclosures in the U.S. in January 2013, down from 75,000 in January 2012 , a year-over-year decrease of 17.8 percent. On a month-over-month basis, completed foreclosures rose from 56,000* in December 2012 to the January level of 61,000, an increase of 10.5 percent. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country. Approximately 1.2 million homes were in some stage of foreclosure in the U.S., known as the foreclosure inventory, as of January 2013 compared to 1.5 million in January 2012, a 21 percent year-over-year decrease. This was the 15th consecutive month with a year-over-year decline. Month over month, the foreclosure inventory was down 3.3 percent from December 2012 to January 2013. The foreclosure inventory as of January 2013 represented 2.9 percent of all homes with a mortgage compared to 3.5 percent in January 2012. "The backlog of distressed assets continues to fade as the foreclosure inventory has fallen to a level not seen since mid-2009, with less than 3 percent of all mortgages in foreclosure," said Mark Fleming, chief economist for CoreLogic. "The improvement is widespread as only six states and 13 of the largest 100 metro areas had an increase in the foreclosure rate year over year." "We still have over a million homes in some...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 3:30 PM » January Las Vegas Home Sales Report
    Published Thu, Feb 28 2013 3:30 PM by DataQuick
    Las Vegas Region January Home Sales Las Vegas-area home sales fell short of a year earlier for the eighth consecutive month in January amid a tight supply of homes for sale and far fewer foreclosure resales. The combination of demand outweighing supply and a shift in market mix pushed the median sale price up at its fastest year-over-year clip - 31.8 percent - in nearly eight years, a real estate information service reported. In January, 3,619 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County). That was down 19.2 percent from the month before and down 10.5 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. A drop in sales between December and January is normal for the season, with the change between those two months averaging a decline of 23.5 percent since 1994, when DataQuick's complete Las Vegas area statistics begin. Last month's total sales were the lowest for the month of January in three years and were 2.7 percent below the average number of homes sold during all months of January since 1994. However, if newly built homes are excluded, last month's sales were above average. Resales of houses and condos combined were 21.8 percent higher than average for the month of January, while sales of newly built homes were 50.3 percent below average for the month. Although new-home sales remain low in an historical context, they've been rising in recent months, increasing 69.5 percent in January compared with a year earlier. Last month's new-home sales were the highest for a January in five years. In the overall market in January, sales of mid- to high-cost homes continued to jump compared with year-ago levels, while the number of low-end deals fell sharply. Sales of homes priced below $100,000 delcined 47.2 percent in January compared with a year earlier. The number of transactions below $200,000 fell 23.5 percent...
  • 2:47 PM » FHA to Propose Own Version of Consumer Bureau Mortgage Rule
    Published Thu, Feb 28 2013 2:47 PM by Bloomberg
    US FHA to Propose Own Version of Consumer Bureau Mortgage Rule Bloomberg The Federal Housing Administration will propose its own rule requiring lenders to confirm a borrower's ability to repay a mortgage, an agency spokesman said today. Premium increases and other fee changes scheduled to go into effect April 1 could push the ...
  • 2:38 PM » Housing Finance Gets Cooperative Look in Senate as House Fights
    Published Thu, Feb 28 2013 2:38 PM by Bloomberg
    Housing Finance Gets Cooperative Look in Senate as House Fights Bloomberg Leaders of the Senate Banking Committee promised a bipartisan bill to restructure the Federal Housing Administration as it faces its first shortfall since it was founded in the 1930s. The pledge today by Senator Tim Johnson, a South Dakota Democrat and ...
  • 2:36 PM » Fed's Raskin: Reflections on Reputation and its Consequences
    Published Thu, Feb 28 2013 2:36 PM by Federal Reserve
    Speech at the 2013 Banking Outlook Conference at the Federal Reserve Bank of Atlanta, Atlanta, Georgia
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:33 PM » Killing Mortgage Interest Deduction; What the Fuss Is About
    Published Thu, Feb 28 2013 2:33 PM by CNBC
    Calls for ending the mortgage interest deduction are circling through Washington. But proponents of the deduction say they're prepared to fight to the bitter end to keep what they say is a key essential for the housing market.
  • 12:55 PM » Fed Governor Raskin Says Bank Reputations Tarnished by Bailouts
    Published Thu, Feb 28 2013 12:55 PM by Bloomberg
    Fed Governor Raskin Says Bank Reputations Tarnished by Bailouts Bloomberg Federal Reserve Governor Sarah Bloom Raskin said banking supervisors need to pay more attention to risks that affect the reputations of U.S. banks because Americans' anger hasn't diminished over government bailouts, subprime mortgages and ... and more »
  • 12:54 PM » Credit Suisse Issues $426 Million of Jumbo-Mortgage Bond Deal
    Published Thu, Feb 28 2013 12:54 PM by Business Week
    Credit Suisse Issues $426 Million of Jumbo-Mortgage Bond Deal Businessweek Credit Suisse Group AG (CSGN) issued securities tied to $425.7 million of new jumbo U.S. home loans without government backing, its first sale of the type of debt this year, according to Fitch Ratings. The credit grader assigned top ratings to $393.4 million of ...
    Click Here to Read the Full Article

    Source: Business Week
  • 12:54 PM » U.S. Regulators Lay Out Compensation Plan for Foreclosure Accord
    Published Thu, Feb 28 2013 12:54 PM by Bloomberg
    U.S. Regulators Lay Out Compensation Plan for Foreclosure Accord Bloomberg About 4.2 million borrowers who went through foreclosures will hear from Rust Consulting Inc. within 31 days to outline their compensation under a settlement with 13 mortgage servicers, according to U.S. bank regulators. The final details of an agreement ...
  • 12:54 PM » Will Congress have the guts to kill the home mortgage deduction?
    Published Thu, Feb 28 2013 12:54 PM by CNN
    Read full story for latest details.
  • 12:45 PM » Regulators move forward on foreclosure relief
    Published Thu, Feb 28 2013 12:45 PM by Reuters
    WASHINGTON (Reuters) - Borrowers whose homes were foreclosed on during the U.S. housing crisis will start receiving payments in April from a $3.6 billion fund under a previously announced settlement with 13 banks, regulators said on Thursday.
  • 10:15 AM » Grillo's rookies ready to take Italian parliament by storm
    Published Thu, Feb 28 2013 10:15 AM by Reuters
    Meet the Grillini. They are the 162 very ordinary people who are now regarded with trepidation by financial markets and world leaders after this week's Italian election failed to produce a government. The Grillini - literally "little Grillos" - are the lawmakers elected for the anti-establishment 5-Star Movement of comic Beppe Grillo, which upset all forecasts by emerging as the largest party in Italy.
  • 10:15 AM » Freddie Mac: Mortgage Rates Break Holding Pattern, Move Lower
    Published Thu, Feb 28 2013 10:15 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Break Holding Pattern, Move Lower
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:57 AM » Chicago PMI Jumps to Eleven Month High
    Published Thu, Feb 28 2013 9:57 AM by CNBC
    This is a breaking news story. Please check back on CNBC.com for updates to this article.. The key measure of business sentiment in Chicago came in at 56.8 for February.
  • 9:46 AM » Foreclosure-Related Homes Still Driving Homes Sales
    Published Thu, Feb 28 2013 9:46 AM by CNBC
    The number of distressed home sales, either bank-owned or short sales, may be shrinking, but it is still making up a significant share of the overall housing market.
  • 8:35 AM » Foreclosure Deals Drop as Banks Approve More Short Sales
    Published Thu, Feb 28 2013 8:35 AM by Bloomberg
    Foreclosure Deals Drop as Banks Approve More Short Sales Bloomberg Short sales of U.S. homes, where the price is less than the amount owed, outnumbered foreclosure deals in the fourth quarter as lenders accelerated efforts to dispose of troubled properties, according to RealtyTrac. Short sales totaled 337,000, RealtyTrac ... and more »
  • 8:33 AM » FHA Hits Brakes on Housing With Budget Cuts: Mortgages
    Published Thu, Feb 28 2013 8:33 AM by Bloomberg
    FHA Hits Brakes on Housing With Budget Cuts: Mortgages Bloomberg U.S. spending cuts scheduled to kick in tomorrow will constrain the availability of Federal Housing Administration mortgages that account for about a quarter of originations, threatening its role in the year-long housing recovery. Department of Housing and ...
  • 8:30 AM » Cordray touts CU lending model
    Published Thu, Feb 28 2013 8:30 AM by NAFCU
    CFPB Director Richard Cordray, speaking at a credit union industry conference on Wednesday, said that the credit union lending model is "the kind of service-based model" that the CFPB wants to encourage in the financial marketplace.
  • 8:26 AM » ECB Nowotny: Clear Improvement in European Economic Situation Versus Year ago
    Published Thu, Feb 28 2013 8:26 AM by CNBC
    This is a breaking news story. Check back shortly for updates.. Ewald Nowotny, governor of the Austrian Central Bank and ECB policymaker, appeared on CNBC's " Squawk Box" on Thursday.
  • 8:26 AM » US Stocks Seen Higher, Boosted by Bernanke Speech
    Published Thu, Feb 28 2013 8:26 AM by CNBC
    In his second day of testimony on Capitol Hill on Wednesday, Bernanke said loose monetary policy was boosting employment. In his testimony, Bernanke warned Congress of the dangers of failing to reach an agreement on how to combat sequestration.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.01%
  • |
  • 15 Yr FRM 3.17%
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  • Jumbo 30 Year Fixed 3.93%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-04)
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  • 30YR FNMA 5.0 110-20 (0-01)
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  • 30YR FNMA 5.5 111-21 (0-01)
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%