Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Subscribers
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 6 and 2 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.
  • Tue, Jan 28 2014
  • 6:52 PM » Polar Vortex Heats Up Online House Hunting: TRULIA
    Published Tue, Jan 28 2014 6:52 PM by The Huffington Post
    Brrr. It's cold outside - still. Winter has been rough for much of the United States, with temperatures plummeting far below normal. Here in San Francisco, where Trulia is headquartered, we're setting record highs, not lows, but we sympathize with the rest of you. In fact, our economics team hails entirely from the lake-effect snow belt of upstate New York, so we know what it's like to suffer through the cold and snow. And while our Trulia team members have up and moved to California , leaving the brutal winters of our childhoods behind, it's apparent that many of you are also dreaming of warmer locales. We analyzed search traffic on Trulia between December 1, 2013, and January 21, 2014, to see how daily temperature fluctuations affected home-search patterns (see note below). It's clear as a bone-chilling winter morning: when the cold wind blows, home searches increase - especially for homes in warmer parts of the country. Searching for Warmth When the Mercury Drops Nationally, home searches increased by 2.6% overall for every 10 degrees Fahrenheit the temperature dropped. Why? In part because cold weather keeps people inside where they do more indoor activities, including searching for real estate online. But cold weather doesn't simply cause people to do more of everything to an equal degree. When temperatures plummet, searches for homes within the searcher's own metro rise 2.2%, while searches for homes outside the searcher's own metro rise 2.9%. And the colder it gets, the better warm looks. For every 10-degree temperature drop that occurs where a house hunter resides, we see a 4.4% increase in searches for homes in warm regions, which is bigger than the increase in searches overall. While some of this searching might reflect the desire to move to a warmer place and leave winter behind permanently, the increase in searches for homes in sunny vacation spots is even higher: a 5.5% jump for every 10-degree temperature decline. In other...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 6:51 PM » Downtown Manhattan Penthouse Sells for a Record $50.9 Million
    Published Tue, Jan 28 2014 6:51 PM by WSJ
    A penthouse in Manhattan's Chelsea neighborhood has closed for $50.9 million. According to the listing agent, the deal sets a new record for the most expensive home sale downtown.
  • 6:50 PM » What the State of the Union should say about housing
    Published Tue, Jan 28 2014 6:50 PM by National Housing Conference
    by Ethan Handelman, National Housing Conference  From the buzz in Washington, we expect President Obama to deliver a State of the Union address that picks up the theme of inequality and ways to remedy it. Some topics like health care, unemployment assistance, and immigration are unavoidable. Housing looms too large to be ignored entirely, but will it receive a passing mention or be a central theme? Here are a few reasons why housing should be prominent: Housing is a pocketbook issue . Few other expenses consume as large a share of the household budget. For the more than 18 million households spending half of their income on housing, it's issue number one.  It's still hard to get a mortgage . That is, unless you have lots of cash on hand and pristine credit. We're overdue for housing finance reform, and there's momentum in the Senate the president could build on. Getting it done is a tall order, but if done right it could do a lot to help both owners and renters.  Neighborhoods are still struggling with foreclosure s. The pain of the foreclosures wave is more concentrated than it has been in the past few years, as some places have started to bounce back. In many neighborhoods, however, folks are still working hard to break the cycle of disinvestment that comes with foreclosures. President Obama could champion new efforts to keep families in their homes, right-size mortgages, and bring stability to struggling neighborhoods.  Good housing policy can pay off . There are a host of ways that smart housing policy pays off: housing the homeless reduces costs for emergency response; stable housing improves children's school performance; greener housing makes families healthier and reduces energy costs; new housing production boosts economic growth and creates jobs.  We'll see tonight how President Obama chooses to include housing in his State of the Union message. Watch for more from NHC after the speech.
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 6:49 PM » In calmer waters, Bernanke hands Fed to Yellen
    Published Tue, Jan 28 2014 6:49 PM by CNBC
    A look at the tough times through which Chairman Ben Bernanke steered the Federal Reserve, and the road ahead for his successor, Janet Yellen.
  • 2:17 PM » Breaking the Logjam on HECM Reverse Mortgages (Part II)
    Published Tue, Jan 28 2014 2:17 PM by The Huffington Post
    The first article of this series discussed some modest initiatives my colleagues and I have taken to help enlarge the market for HECMs. These included a monograph on matching HECM options to senior needs, a senior-friendly calculator showing the amounts seniors can draw under different payment options, and free personalized guidance on selecting the right options. However, there is another log contributing to the HECM logjam that is more formidable. It is a poorly functioning market, with little price competition and no protection against "lock abuse" -- an inflated price after the senior is committed to the transaction. A fear of being over-charged is part of a climate of distrust that strengthens senior reluctance to become involved, and retards market growth. Lack of Price Competition The number of firms jousting for HECM clients is high. NRMLA, the trade association of reverse mortgage lenders, has 223 members, and all but a handful are loan providers -- lenders or brokers. Further, there are at least that many and probably many more reverse mortgage brokers that are not members. However, loan providers don't compete for clients in terms of price. My colleagues and I looked at all the websites of loan providers who belong to NRMLA. Only eight posted prices, and of those only one posted complete prices -- both interest rates and origination fees. The maverick is All Reverse Mortgage Company, a firm in which I have no financial interest, but they do post their prices on my web site. HECM lenders obviously don't believe that posting prices is a good way to attract clients, and they are probably right. Borrowers in the forward market understand that higher interest rates are associated with higher mortgage payments, which focuses their attention on rates. But the association of higher rates with lower draw amounts on HECMs is not as obvious, and it eludes many seniors. There is very little price shopping for HECMs. Potential For Lock Abuse Price shopping...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 2:16 PM » NAHB Chairman Rick Judson on the Farm Bill
    Published Tue, Jan 28 2014 2:16 PM by NAHB
    Press Release
  • 2:15 PM » Treasury Department auctions $32 billion of 2-year notes at a high yield of 0.380%
    Published Tue, Jan 28 2014 2:15 PM by CNBC
    Please check back for further updates.
  • 12:04 PM » Chairman Hensarling's Opening Statement at Hearing on CFPB
    Published Tue, Jan 28 2014 12:04 PM by House Financial Services
    Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today's full committee hearing on the CFPB: This morning we welcome back Mr. Richard Cordray, director of the CFPB for one of his two statutory semi-annual appearances before our committee. It is an important appearance because by design, the CFPB is perhaps the single most powerful and least accountable Federal agency in all of Washington and demands rigorous oversight. First, let's speak of it's power. When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make them less available and more expensive, but to absolutely take them away. This is not the rule of law, it is the rule of rulers and the rulers are unaccountable. The Bureau is fundamentally unaccountable to the president since the director can only be removed for cause. Fundamentally unaccountable to Congress because the bureau's funding is not subject to appropriations. Fundamentally unaccountable to the courts because Dodd-Frank requires courts to grant the CFPB deference regarding its interpretation of Federal consumer financial law. Thus, the Bureau regrettably remains unaccountable to the American people. The American people deserve better. They now have witnessed a failed stimulus plan, trillions of dollars of unsustainable debt that we can witness on the monitors, revelations of NSA domestic data collection and a broken promise of "if you like your health insurance, you can keep it." The American people rightfully demand accountability from this administration. Therefore, our committee took common-sense steps in November to make the Bureau more accountable and transparent when we passed six bills that reform the CFPB's flawed structure, such as replacing its single, unaccountable director with a bipartisan board, putting Bureau employees on the civil service pay scale, introducing a...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 10:56 AM » Freddie Mac: Hybrid ARMs Dominate Product Offerings in 30th Annual ARM Survey
    Published Tue, Jan 28 2014 10:56 AM by
    Hybrid ARMs Dominate Product Offerings in 30th Annual ARM Survey
    Click Here to Read the Full Article

  • 9:40 AM » CNBC Fed Survey: CNBC's Steve Liesman: Fed Taper Will Remain Slow and Steady
    Published Tue, Jan 28 2014 9:40 AM by CNBC
    CNBC Fed Survey: CNBC's Steve Liesman: Fed Taper Will Remain Slow and Steady
  • 9:24 AM » ABA Applauds Conferees for Removing Uncertainty on USDA Loans
    Published Tue, Jan 28 2014 9:24 AM by American Bankers Assoc.
    Washington, January 27, 2014 -- We applaud the House and Senate conferees for removing term limits on USDA guaranteed farm loans in the 2014 Farm Bill.
    Click Here to Read the Full Article

    Source: American Bankers Assoc.
  • 9:23 AM » US home prices up 13.7% in November: S&P/Case-Shiller
    Published Tue, Jan 28 2014 9:23 AM by CNBC
    This is a breaking news story. Please check back for updates.. Click here for market reaction.
  • 9:23 AM » Jefferies Discloses $25 Million Settlement of Mortgage Probe
    Published Tue, Jan 28 2014 9:23 AM by Bloomberg
    Jefferies Discloses $25 Million Settlement of Mortgage Probe Bloomberg Jefferies Group LLC, the investment bank owned by Leucadia National Corp. (LUK), said it agreed to pay $25 million as part of a settlement with regulators into suspected abuses in trading of mortgage-backed securites. The deal includes a non-prosecution  ... and more »
  • 8:37 AM » Cordray testifies on CFPB plans, activities today
    Published Tue, Jan 28 2014 8:37 AM by NAFCU
    CFPB Director Richard Cordray will deliver the bureau's semiannual report to Congress today in a hearing before the House Financial Services Committee.
  • 8:37 AM » Obama expected to discuss mortgage conditions
    Published Tue, Jan 28 2014 8:37 AM by NAFCU
    President Obama is widely expected to discuss housing issues, such as current mortgage market conditions, when he delivers his fifth annual State of the Union address tonight before a joint session of Congress.
  • 8:37 AM » Realtors® Optimistic as Senate Moves to Consider Flood Insurance Rate Relief Bill
    Published Tue, Jan 28 2014 8:37 AM by Google News
    WASHINGTON (January 27, 2014) – The following is a statement by National Association of Realtors® President Steve Brown:   “Realtors® applaud the Senate for moving to consider and debate the Homeowner Flood Insurance Affordability Act, S. 1926, sponsored by Sens. Bob Menendez, D-N.J., and Johnny Isakson, R-Ga. This critical legislation will help the millions of homeowners who are now facing dramatic flood insurance rate increases, which are the unintended consequence of reforms to the National Flood Insurance Program. “The bill will... Read More
  • 7:49 AM » Delinquent Debt Seized by Lehman Alum Seeing Recovery: Mortgages
    Published Tue, Jan 28 2014 7:49 AM by Bloomberg
    Delinquent Debt Seized by Lehman Alum Seeing Recovery: Mortgages Bloomberg After David Sherr left Lehman Brothers Holdings Inc. in 2007 to start a hedge fund, he considered buying delinquent mortgages to profit from the U.S. housing collapse. Following years of passing on the debt, he now sees the loans as one of the best ways to  ...
  • 7:48 AM » D.R. Horton Earnings Rise as Builder Increases Prices of Houses
    Published Tue, Jan 28 2014 7:48 AM by Bloomberg
    D.R. Horton Earnings Rise as Builder Increases Prices of Houses Bloomberg D.R. Horton Inc. said earnings rose 86 percent in the fiscal first quarter as the largest U.S. homebuilder by revenue was able to raise prices and control costs even amid signs the housing recovery is cooling. Net income climbed to $123.3 million, or 36 cents a  ...
  • 7:44 AM » Fed taper will remain slow and steady: CNBC Survey
    Published Tue, Jan 28 2014 7:44 AM by CNBC
    CNBC's survey predicts that the Fed will reduce its asset buying by announcing a $10 billion reduction at each of its meetings this year.
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 4.77%
  • |
  • 15 Yr FRM 4.21%
  • |
  • Jumbo 30 Year Fixed 4.80%
MBS Prices:
  • 30YR FNMA 4.5 103-28 (0-08)
  • |
  • 30YR FNMA 5.0 105-22 (0-05)
  • |
  • 30YR FNMA 5.5 107-06 (-0-04)
Recent Housing Data:
  • Mortgage Apps -1.15%
  • |
  • Refinance Index -2.64%
  • |
  • Purchase Index 5.06%