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  • Tue, Jan 14 2014
  • 9:53 PM » Statement of FHFA Director Mel Watt on Fannie Mae Direct Debt Risk-Sharing Transaction
    Published Tue, Jan 14 2014 9:53 PM by FHFA
    January 14, 2014: Statement of FHFA Director Mel Watt on Fannie Mae Direct Debt Risk-Sharing Transaction
  • 4:39 PM » Credit Union or Bank: Does It Matter?
    Published Tue, Jan 14 2014 4:39 PM by Realtor.Org
    As a real estate practitioner, does it matter whether you put your money into a bank or a credit union or whether you take out a loan with one but not the other? In the third of our monthly video series called Your Money Matters, Victoria Gillespie of REALTORS® Federal Credit Union, a division of [...]
  • 4:37 PM » Fannie Selling Guide Update on Priority of HOA Fees
    Published Tue, Jan 14 2014 4:37 PM by Fannie Mae
    Fannie Mae is revising its policy concerning priority of common expense assessments for mortgages secured by units in condo and planned unit development (PUD) projects to permit no more than six months of regular common expense assessments to have priority over Fannie Mae's mortgage lien. This policy change does not apply to projects located in a jurisdiction that enacted a law on or before January 14, 2014 that provides for such lien priority for a period greater than six months (for example, Connecticut and Florida). If applicable state law allows for greater than six months of lien priority for assessments, but provides an exception for Fannie Mae's requirements, then the six-month maximum applies (such as Nevada).
  • 4:05 PM » Fannie Mae Said to Sell $750 Million of Risk-Sharing Securities - Bloomberg
    Published Tue, Jan 14 2014 4:05 PM by Bloomberg
    Fannie Mae Said to Sell $750 Million of Risk-Sharing Securities Bloomberg Fannie Mae, the largest source of money for U.S. mortgages, sold $750 million of securities in its second offering of notes tied to the risk of homeowner defaults, according to a person with knowledge of the transaction. The sale included $375 million of  ... and more »
  • 2:20 PM » December Southland Home Sale Press Releasse
    Published Tue, Jan 14 2014 2:20 PM by DataQuick
    Southland December Home Sales at Six-Year Low; Median Price Jumps January 14, 2014 La Jolla, CA---Southern California home sales fell to a six-year low for the month of December as investor activity eased again and buyers struggled with a tight inventory of homes for sale. The median price paid for a home jumped to the highest level in nearly six years, the result of demand outstripping supply, declining distress sales and a slight increase in the share of sales in mid- to high-end areas, a real estate information service reported. A total of 18,415 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 6.5 percent from 17,283 sales in November, and down 9.2 percent from 20,274 sales in December 2012, according to San Diego-based DataQuick. December's sales gain from November is normal for the season, though it was weaker than usual. On average, sales have increased 12.4 percent between November and December since 1988, when DataQuick's statistics begin. Last month's sales were 24.1 percent below the average number of sales - 24,254 - in the month of December. Southland sales haven't been above average for any particular month in more than seven years. December sales have ranged from a low of 13,240 in December 2007 to high of 36,865 in December 2003. "Sales have fallen short of the same period a year earlier for three consecutive months now, and the pitifully low inventory is the main culprit. The jump in home values over the last year suggests we'll eventually see a lot more people interested in selling their homes, which would help ease the inventory crunch. More supply would put downward pressure on prices, as would rising mortgage rates. But there are reasons to believe we'll continue to see upward pressure on prices, too. Home building has risen but remains at relatively low levels, meaning no major boost to the overall supply of homes for sale...
  • 2:08 PM » Fed's Fisher pledges to vote to continue tapering; investors have 'beer goggles' from liquidity
    Published Tue, Jan 14 2014 2:08 PM by CNBC
    Please check back for further updates.
  • 2:07 PM » Dodd-Frank Mortgage Rules Harm Homeownership
    Published Tue, Jan 14 2014 2:07 PM by House Financial Services
    New mortgage regulations resulting from the Dodd-Frank Act will harm homeownership, reduce credit, and prevent credit-worthy borrowers from obtaining an affordable mortgage, witnesses from Habitat for Humanity, community banks and credit unions told a House Financial Services subcommittee today. The regulations threaten the survival of Habitat for Humanity's self-help homeownership model, said Frank Spencer, President and Chief Executive Officer of Habitat for Humanity of Charlotte, North Carolina. "As a result, tens, if not hundreds, of millions of dollars of investment in Habitat by government and financial institutions is at risk, as are the tens of thousands of families whose future housing needs will otherwise be met through these investments," said Spencer. "The ongoing success of Habitat's self-help homeownership model - a unique approach to home building and mortgage lending that is thriving - merits federal support, not regulatory intervention that threatens its survival." The Dodd-Frank Act's new "Qualified Mortgage" (QM) and "ability-to-repay" rules promulgated by the Consumer Financial Protection Bureau (CFPB) went into effect last week. "Although Habitat was never the target of Dodd-Frank, compliance [with the rules] has required significant commitments of both human and financial resources that would otherwise be invested in meeting critical housing needs in the communities each of you represent," Spencer said in testimony to subcommittee members. Local community bankers and credit unions have also expressed concerns that the new mortgage rules will make it harder for them to issue mortgages to potential homebuyers. "There is no question that the new Qualified Mortgage rule will adversely impact my mortgage lending," said Jack Hartings, President and CEO of The Peoples Bank Company in Coldwater, Ohio. "This is true even though The Peoples Bank Company is currently a 'small creditor'...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 1:15 PM » Where Did Consumer Spend Their Money in December?
    Published Tue, Jan 14 2014 1:15 PM by WSJ
    Retail sales in December increased 0.2% from a month earlier, but the gains weren't evenly spread.
  • 1:12 PM » Plosser wants Fed to exit QE before end of 2014
    Published Tue, Jan 14 2014 1:12 PM by Market Watch
    WASHINGTON (MarketWatch)-- The Federal Reserve should end its controversial bond-buying program sooner than the end of 2014, said Charles Plosser, president of the Philadelphia Federal Reserve, on Tuesday. Fed Chairman Ben Bernanke has said the Fed could exit its program, known as quantitative easing, by the end of 2014 if the economy continued to improve as forecast. "My preference would be that we conclude the purchases sooner than this," Plosser said in a speech at La Salle University. Plosser said the weak December job report "has not changed by belief that the economy has already met the criteria of substantial improvement in labor market conditions" laid out by the central bank for tapering the purchases. Plosser is a voting member of the Fed's rate-setting committee this year.
  • 11:00 AM » CFPB issues revised mortgage servicing and origination exam procedures
    Published Tue, Jan 14 2014 11:00 AM by www.cfpbmonitor.com
    Richard J. Andreano, Jr., The CFPB has revised its examination procedures for mortgage servicing and mortgage origination. The revisions are intended to update the CFPB’s existing examination procedures to reflect the new mortgage rules which became effective last Friday, January 10.
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:00 AM » Redfin: Hottest Neighborhoods of 2014
    Published Tue, Jan 14 2014 11:00 AM by blog.redfin.com
    As we usher in the new real estate season at Redfin, a big question on our minds is: Which neighborhoods will be the darlings of 2014? Read More The post Hottest Neighborhoods of 2014 appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 10:58 AM » Interest rates don't matter? Fed paper says so
    Published Tue, Jan 14 2014 10:58 AM by CNBC
    A new study from the Federal Reserve finds that businesses say that lower interest rates don't really prompt more investment spending.
  • 10:24 AM » Mortgage forecasts lowered for 2014
    Published Tue, Jan 14 2014 10:24 AM by CNBC
    Rising interest rates and a sluggish housing recovery has prompted lower forecasts for mortgage originations this year.
  • 9:22 AM » U.S. Economic Confidence Steady So Far in 2014
    Published Tue, Jan 14 2014 9:22 AM by www.gallup.com
    Gallup's Economic Confidence Index averaged -14 last week, unchanged from the prior week. Confidence started the week higher but became more negative after Friday's jobs report.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:20 AM » The Cities Where $1 Million Buys Luxury -- Or A Tiny Shoebox Apartment
    Published Tue, Jan 14 2014 9:20 AM by The Huffington Post
    If you had a million dollars, you could buy yourself a hell of a fancy house in Detroit. Or a sweet little condo with ocean views in Miami. Or a sweet... Read more: Los Angeles Real Estate , Miami Real Estate , Million Dollar Homes , Chicago Real Estate , Denver Real Estate , New York Real Estate , DC Real Estate , Most Expensive Homes , San Francisco Real Estate , Expensive Homes , Detroit Real Estate , HuffPost Home News
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 9:14 AM » JP Morgan Profits Drop as Legal Costs Take Their Toll
    Published Tue, Jan 14 2014 9:14 AM by business.time.com
    J.P. Morgan Chase saw profits tumble in the fourth quarter as unprecedented regulatory scrutiny pushed up legal expenses. The banking giant reported Tuesday a 7.3 percent fall in profits to $5.28 billion in the fourth quarter, down from $5.69 billion a year earlier. Revenue fell 1.1 percent to $24.11 billion. J.P. Morgan has paid out roughly $20 billion in the past year to resolve federal investigations into cases ranging from alleged mortgage practice violations to the 2012 "London Whale" fiasco, the Wall Street Journal reports. Last week the company agreed to pay $1.7 billion to victims of Bernard Madoff's Ponzi scheme and an additional $900 million in penalties and legal fees-reducing fourth quarter earnings by $850 million-after admitting it did not have an effective anti-money-laundering policy in place.
    Click Here to Read the Full Article

    Source: business.time.com
  • 9:10 AM » Consumer spending measure rises solidly
    Published Tue, Jan 14 2014 9:10 AM by Reuters
    WASHINGTON (Reuters) - A gauge of U.S. consumer spending rose more than expected in December, suggesting the economy gathered steam at the end of last year and was poised for stronger growth in 2014.
  • 9:10 AM » Import prices flat in December
    Published Tue, Jan 14 2014 9:10 AM by Reuters
    WASHINGTON (Reuters) - U.S. import prices were unexpectedly flat in December as the cost of petroleum fell marginally, still showing no signs of imported inflation pressures.
  • 8:20 AM » FBI suspects market rigging, hurting Fannie and Freddie
    Published Tue, Jan 14 2014 8:20 AM by CNBC
    Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac.
  • 8:16 AM » Wells Fargo posts earnings of $1 a share vs. 98 cents estimate
    Published Tue, Jan 14 2014 8:16 AM by CNBC
    Analysts had expected Wells Fargo to deliver earnings on a fully reported basis of 98 cents a share on $20.69 billion in revenue, according to a consensus estimate from Thomson Reuters. What is the stock doing now? This is a breaking news article.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.88%
  • |
  • 15 Yr FRM 3.11%
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  • Jumbo 30 Year Fixed 3.71%
MBS Prices:
  • 30YR FNMA 4.5 108-22 (0-04)
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  • 30YR FNMA 5.0 110-28 (0-01)
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  • 30YR FNMA 5.5 111-31 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
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  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%