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  • Mon, Apr 1 2013
  • 11:17 PM » Judge questions fairness of Citigroup $590 million settlement over toxic mortgage assets
    Published Mon, Apr 01 2013 11:17 PM by Reuters
    (Reuters) - A Manhattan federal judge on Monday signaled he will not rubber-stamp Citigroup Inc's proposed $590 million settlement of a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets.
  • 3:07 PM » Why It's Still Hard to Get a Mortgage
    Published Mon, Apr 01 2013 3:07 PM by WSJ
    The housing market may be coming back, but a growing number of policy makers have expressed concerns in recent months that it's still too hard to get a mortgage.
  • 3:05 PM » Fed's Treasurys Buying Weakens Dollar
    Published Mon, Apr 01 2013 3:05 PM by CNBC
    The Fed's buying large amounts of long-term securities weakens the dollar in the same way that conventional interest-rate cuts do.
  • 2:06 PM » New SAFE MLO Test with Uniform State Content Now Available
    Published Mon, Apr 01 2013 2:06 PM by
    Washington, D.C.-The new National SAFE MLO Test Component with uniform state content was implemented today, which creates a single test that can meet both the national and state testing requirements of the SAFE Act. In 20 states, mortgage loan originators (MLOs) seeking licensure with their state regulatory agency will no longer be required to take a second, state-specific test component. Starting today, financial regulatory agencies in Delaware, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Hampshire, North Carolina, North Dakota, Pennsylvania, Rhode Island, South Dakota, Utah, Virginia, Washington, and Wisconsin will no longer require a state-specific test component.
  • 11:51 AM » NY Fed: Banking across Borders with Heterogeneous Banks
    Published Mon, Apr 01 2013 11:51 AM by NY Fed
    Friederike Niepmann. Banking across Borders with Heterogeneous Banks. Federal Reserve Bank of New York Staff Reports Staff Report Number 609, April 2013.
  • 9:35 AM » Genworth Wins Approval to Distance Mortgage-Insurance Business - Bloomberg
    Published Mon, Apr 01 2013 9:35 AM by Bloomberg
    Genworth Wins Approval to Distance Mortgage-Insurance Business Bloomberg Genworth Financial Inc., the mortgage guarantor and life insurer, said it won approval for a plan to distance its unit that backs home loans from the rest of the company. The insurer still has the option to implement a "NewCo" type structure for its ...
  • 9:34 AM » The April Fool's economy
    Published Mon, Apr 01 2013 9:34 AM by Washington Post
    The economic recovery has faked us out before. Will it fool us again this year? The economy seems to have done an about-face over the past three months after the bad dream that was the fiscal cliff came to an end. Housing is rebounding , businesses are hiring and shoppers are, well, shopping. Even the normally reserved Federal Reserve acknowledges that the economy is experiencing "moderate growth." Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:30 AM » You're What? Turnover May Blindside Employers
    Published Mon, Apr 01 2013 9:30 AM by CNBC
    Signs of life in the job market could start pushing some employees to do what they've been dreaming about, perhaps for years: quit. Too bad their employers probably won't see it coming.
  • 9:18 AM » Germany sees itself as Europe's grown-up, children sullen
    Published Mon, Apr 01 2013 9:18 AM by Reuters
    (Reuters) - Buoyed by solid finances, roaring exports and low unemployment, Germany increasingly sees itself as the only grown-up in Europe, responsible for bringing wayward children into line to hold the family together. The children are not enjoying it. Some, such as the Cypriots and Greeks and many Italians and Spaniards, are openly resentful of "Mutti" (mum), as Berlin officials privately call Chancellor Angela Merkel. Others, such as the French, are sulking. The mood among German politicians and officials is one of economic self-confidence tinged with a sense of parental duty to provide the euro zone with stiff-backed leadership, even if that makes them unpopular in Europe.
  • 8:39 AM » U.S. Smacks Down S&P Request
    Published Mon, Apr 01 2013 8:39 AM by The Huffington Post
    WASHINGTON, March 29 (Reuters) - The U.S. Department of Justice opposed Standard & Poor's efforts to move a spate of lawsuits charging the ratings agency with fraud to federal from state courts. Standard & Poor's is seeking to move lawsuits by 15 U.S. states and Washington, D.C. to the federal level, hoping to limit liabilities as it defends itself against accusations of inflating credit ratings in a bid to win fees from clients. But the Department of Justice, in a filing in the U.S. District Court for the District of Connecticut on Friday, said there was no basis in law to move the cases to the higher-level. "Based on the nature of the causes of actions alleged by the States, and the controlling precedents, there is no federal-question jurisdiction justifying removal," it said. S&P parent McGraw-Hill has said that the suits should be addressed all at once and that failure to do so could cause "serious confusion and risk" to financial markets. Connecticut Attorney General George Jepsen is leading a coalition of attorneys general that brought the state cases. These were announced on Feb. 5, the same day that the Justice Department said it was seeking $5 billion in its own civil lawsuit against S&P. McGraw-Hill shares lost more than a quarter of their value during the week the suits were announced. They closed on Thursday at $52.08 a share. Legal experts said earlier that S&P might struggle to move the state cases, given recent similar cases. The lawsuits allege that S&P misled investors into believing its ratings were objective and not tainted by conflicts of interest. The ratings were mainly for complex fixed income products that imploded in the financial crisis. Moody's Corp's Moody's Investors Service and Fimalac SA's Fitch Ratings, S&P's main rivals, were not hit with similar federal lawsuits.
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 8:26 AM » Fannie Mae and Freddie Mac Face New Problem: Profitability
    Published Mon, Apr 01 2013 8:26 AM by Business Week
    Fannie Mae and Freddie Mac Face New Problem: Profitability Businessweek Fannie Mae (FNMA) executives are due this week to release the company's earnings report for the last quarter of 2012, a filing delayed by an unanticipated problem: The Washington-based mortgage financier is making money and expects to remain steadily ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 8:24 AM » FHA Watch, March 2013 (Vol. 2, No. 3)
    Published Mon, Apr 01 2013 8:24 AM by
    Implementing VA’s best practices, including reducing the FHA’s loan loss coverage percentage from 100 percent to 50 percent, would improve FHA's practices for working-class families and neighborhoods and help promote the responsible expansion of credit access to working-class families.
  • 8:24 AM » Pinto: On Privatizing Fannie and Freddie
    Published Mon, Apr 01 2013 8:24 AM by
    Pinto: On Privatizing Fannie and Freddie<br/>
  • 8:22 AM » Stocks Seen Starting Second Quarter Slightly Lower
    Published Mon, Apr 01 2013 8:22 AM by CNBC
    Stock index futures pointed to a flat to slightly lower open on Monday as investors geared up for the first day of trade after a long Easter weekend.
  • 8:22 AM » National Financial Literacy Month begins today
    Published Mon, Apr 01 2013 8:22 AM by NAFCU
    Today begins National Financial Literacy Month, and NAFCU President and CEO Fred Becker is encouraging NAFCU members to mark the event by putting the spotlight on their efforts to promote learning about personal financial matters in their institutions and their communities.
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Mortgage Rates:
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  • 15 Yr FRM 3.94%
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MBS Prices:
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  • 30YR FNMA 5.0 106-09 (-0-02)
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Recent Housing Data:
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  • Purchase Index 5.06%