Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,270
# of Questions
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 7 and 4 and type the answer here:
Leave this field blank.
What is Around the Web?
It is a continuously updated stream of news from around the web
Visit throughout the day for the latest breaking news.
» Click any link below to read more.
  • Thu, Mar 21 2013
  • 11:03 PM » More Regulations, Fewer Community Banks Due to Dodd-Frank
    Published Thu, Mar 21 2013 11:03 PM by House Financial Services
    Nearly three years after the enactment of the Dodd-Frank Act, community banks continue to struggle with navigating the confusing, complex, voluminous, and harmful rules and regulations of this law according to a recent  report  from the Federal Deposit Insurance Corporation (FDIC) reviewed at today's Financial Institutions Subcommittee hearing. A portion of the report focused on the regulatory costs for community banks, where the participants stated that no one regulation, but rather the cumulative effects of all regulatory requirements weigh down their banks. The regulatory burden is also preventing new community banks from forming.  No new community bank charters have been granted since 2011, due in part to the regulatory burden of Dodd-Frank. A majority of the bankers interviewed also reported that their banks are increasingly relying on third-party consultants and service providers to assist with interpreting and implementing new or changing rules and regulations, citing their inability to understand and implement regulatory changes within required timeframes and their concern that their method of compliance may not pass regulatory scrutiny. "The FDIC study attempts to quantify the growing burden of complying with the myriad of financial regulations for community financial institutions.   This was a common theme for our subcommittee last Congress and I expect it will continue to be a common concern for community bankers going forward.   In January of 2011, just six months after the Dodd-Frank Act was signed into law, we heard from a community banker in West Virginia who already hired an additional compliance officer to deal with the increasing complexity of compliance," said Financial Institutions Subcommittee Chairwoman Shelley Moore Capito (R-WV).  "I understand this is a difficult figure to quantify but we must keep up the discussion amongst policy makers, regulators, and...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 4:08 PM » Don't Make DeMarco a Scapegoat for the Housing Mess
    Published Thu, Mar 21 2013 4:08 PM by Bloomberg
    Bloomberg Don't Make DeMarco a Scapegoat for the Housing Mess Bloomberg Nine state attorneys general have just asked President Obama to fire Edward DeMarco, acting head of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac. They say: "FHFA's refusal to adjust its policies to allow for principal ...
  • 4:08 PM » Ally to Sell Remaining Mortgage Servicing Rights to Quicken
    Published Thu, Mar 21 2013 4:08 PM by Business Week
    Ally to Sell Remaining Mortgage Servicing Rights to Quicken Businessweek Ally Financial Inc. (ALLY), the lender that had its capital plan rejected last week by the Federal Reserve, agreed to sell its remaining agency mortgage servicing rights to Quicken Loans Inc. for about $280 million. The loans had an unpaid principal balance of ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 4:07 PM » Scenes From the Cyprus Crisis
    Published Thu, Mar 21 2013 4:07 PM by CNBC
    For Cyprus-and for Europe-the clock is ticking, with the prospect of the eastern Mediterranean island exiting the euro zone or defaulting on its debt looming ever larger. Click ahead to see how the crisis has unfolded.
  • 4:06 PM » A Bearish Sign in Housing Recovery: Economist
    Published Thu, Mar 21 2013 4:06 PM by CNBC
    One metric could be exposing weakness in the housing recovery, Gluskin Sheff & Associates Chief Economist and Strategist David Rosenberg says.
  • 4:05 PM » FHFA Statement on Freddie Mac Loan-Level Data Release
    Published Thu, Mar 21 2013 4:05 PM by FHFA
    March 21, 2013: FHFA Statement on Freddie Mac Loan-Level Data Release
  • 4:05 PM » Freddie Mac Makes Single-Family Loan-Level Data Publicly Available to Boost Transparency and Modeling Accuracy
    Published Thu, Mar 21 2013 4:05 PM by freddiemac.mwnewsroom.com
    Freddie Mac Makes Single-Family Loan-Level Data Publicly Available to Boost Transparency and Modeling Accuracy
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 2:32 PM » EU gives Cyprus bailout ultimatum, risks euro exit
    Published Thu, Mar 21 2013 2:32 PM by Reuters
    In a mark of strained relations and confusion, euro zone officials conceded during a conference call on the crisis which Cyprus failed even to join that the situation was "in a mess". The Cypriot government said party leaders had agreed to create a "solidarity fund" that would bundle state assets as the basis for an emergency bond issue, but the speaker of parliament, Yiannakis Omirou, insisted a revised levy on uninsured bank deposits was not on the table. The European Central Bank, which has kept Cyprus's banks operating with a liquidity lifeline, said the government had until Monday to get a deal in place, or funds would be cut off - putting not just the Cypriot economy in jeopardy but billions of euros held on the island by foreigners, notably from Russia. "Thereafter, Emergency Liquidity Assistance (ELA) could only be considered if an EU/IMF program is in place that would ensure the solvency of the concerned banks," the ECB said.
  • 11:52 AM » NAHB: Growing Labor Shortages Impeding Housing and Economic Recovery
    Published Thu, Mar 21 2013 11:52 AM by NAHB
    Press Release
  • 11:48 AM » Finally, Supply of Homes for Sale Rises
    Published Thu, Mar 21 2013 11:48 AM by CNBC
    For the first time in over six months, the supply of homes for sale is beginning to rise. While inventories are still down nearly 20 percent from a year ago, they did rise more than the seasonal norm in February from January, according to a new report from the National Association of Realtors.
  • 11:13 AM » House of Representatives Passes Bill to Prevent Government Shutdown; Bill Will Go to Obama
    Published Thu, Mar 21 2013 11:13 AM by CNBC
    Please check back for further updates.
  • 11:13 AM » Has the mortgage tax deduction outlived its usefulness?
    Published Thu, Mar 21 2013 11:13 AM by www.aei.org
    Has the mortgage tax deduction outlived its usefulness?<br/>http://www.aei.org/article/has-the-mortgage-tax-deduction-outlived-its-usefulness/
  • 11:02 AM » Analysis of the Report of the Monitor of the National Mortgage Settlement
    Published Thu, Mar 21 2013 11:02 AM by CRL
    CRL's analysis of "Ongoing Implementation",a report on 2012 efforts under the National Mortgage Settlement to halt foreclosures through loan modifications, and other assistance.
  • 10:28 AM » Cypriot banks facing winding-up if no levy agreed -senior official
    Published Thu, Mar 21 2013 10:28 AM by Reuters
    BRUSSELS, March 21 (Reuters) - If Cyprus cannot agree on a levy on deposits it faces having its biggest banks wound down, which would wipe out uninsured depositors, or could be forced to leave the euro zone, a senior European Union official said on Thursday. "At the end of the day it is their own choice," said the official, who has direct knowledge of the negotiations between the euro zone, the International Monetary Fund and Cyprus.
  • 10:25 AM » Existing-Home Sales and Prices Continue to Rise in February
    Published Thu, Mar 21 2013 10:25 AM by Google News
    WASHINGTON (March 21, 2013) - February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of Realtors ® . Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. Total existing-home sales 1 , which are completed transactions that include single-family homes,... Read More
  • 10:25 AM » List of Improving Housing Markets Rises to 274 in March
    Published Thu, Mar 21 2013 10:25 AM by NAHB
    Press Release
  • 10:24 AM » Freddie Mac: Mortgage Rates Stage for Start of Spring Homebuying Season
    Published Thu, Mar 21 2013 10:24 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Stage for Start of Spring Homebuying Season
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:24 AM » FHFA House Price Index Up 0.6 Percent in January
    Published Thu, Mar 21 2013 10:24 AM by FHFA
    March 21, 2013: FHFA House Price Index Up 0.6 Percent in January
  • 8:18 AM » Housing Starts Under the Microscope
    Published Thu, Mar 21 2013 8:18 AM by WSJ
    When it comes to new-home construction, it's important to take a step back and remember where the market is.
  • 8:08 AM » Stocks Seen Lower; Housing, Jobs Eyed
    Published Thu, Mar 21 2013 8:08 AM by CNBC
    Stock index futures pointed to a slightly lower open on Wall Street amid ongoing concerns over Cyprus, but a pick-up in Chinese factory activity and the Federal Reserve's commitment to loose monetary policy could keep losses in check.
  • 8:06 AM » Banks Ignore Homeowner Complaints; New IG Report Faults FHFA Leadership
    Published Thu, Mar 21 2013 8:06 AM by House Oversight
    Cummings Calls for Hearing with Banks And FHFA's DeMarco Washington, D.C. (March 21, 2013) -- Today, Congressman Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, released a new report issued by the Inspector General of the Federal Housing Finance Agency (FHFA) warning that mortgage companies that service loans backed by Freddie Mac "have largely failed to implement" requirements to resolve "escalated cases" of serious homeowner complaints alleging abuses such as improper foreclosures and fraudulent servicing practices.   "Today's report reveals the latest in a sorry string of failures by FHFA leadership to protect American homeowners," said Cummings. "After so many reports documenting the abuses homeowners have suffered at the hands of mortgage servicers, it is unconscionable that FHFA has failed to require mortgage servicers to properly handle tens of thousands of homeowner complaints."   The Inspector General concluded that between October 1, 2011, and November 30, 2012, more than 34,000 escalated cases were filed by homeowners with Freddie Mac and its eight largest mortgage servicers.  Although current FHFA guidelines require these complaints to be resolved within 30 days of receipt, more than 20% were not resolved within that timeframe.    Current FHFA guidelines also require mortgage servicers to report the escalated cases they receive to Freddie Mac on a monthly basis.  The Inspector General found that four of Freddie Mac's largest mortgage servicers-including Bank of America, CitiMortgage, Provident, and Wells Fargo-"did not report any escalated cases to Freddie Mac despite handling more than 20,000 such cases."   The Inspector General also found that no penalties have been imposed on servicers for their failure to handle escalated cases in a manner compliant with current FHFA guidelines.  ...
    Click Here to Read the Full Article

    Source: House Oversight
  • 12:13 AM » Big banks engaging in payday lending, report says
    Published Thu, Mar 21 2013 12:13 AM by Washington Post
    Some of the nation's largest banks are providing short-term loans with interest rates of up to 300 percent, driving borrowers into a cycle of debt, according to a new report from the Center for Responsible Lending. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 12:12 AM » New Research: Bank Payday Loans Continue
    Published Thu, Mar 21 2013 12:12 AM by CRL
    Banks making payday loans continue to trap customers in a cycle of debt, a new CRL study shows. Seniors face particular risks.
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.
 

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%