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  • Thu, Feb 20 2014
  • 10:44 PM » Georgia Real Estate Investor Pleads Guilty to Bid Rigging and Fraud at Public Real Estate Foreclosure Auctions
    Published Thu, Feb 20 2014 10:44 PM by www.justice.gov
    A Georgia real estate investor pleaded guilty today for her role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia.
    Click Here to Read the Full Article

    Source: www.justice.gov
  • 10:44 PM » Is the Fed Tightening too Slowly? - Bloomberg
    Published Thu, Feb 20 2014 10:44 PM by Bloomberg
    Is the Fed Tightening too Slowly? Bloomberg Is it time for the Federal Reserve and its chairman, Janet Yellen, to tighten monetary policy faster? Is it time for the Federal Reserve and its chairman, Janet Yellen, to tighten monetary policy faster? Close. Close. Open. Photographer: Andrew Harrer/Bloomberg.
  • 10:43 PM » RBS to Retreat From Investment Banking With 30000 Cuts, FT Says - Bloomberg
    Published Thu, Feb 20 2014 10:43 PM by Bloomberg
    RBS to Retreat From Investment Banking With 30000 Cuts, FT Says Bloomberg Royal Bank of Scotland Group Plc is planning to shut riskier investment-banking businesses and largely exit U.S. and Asian markets, the Financial Times reported. Britain's largest government-owned lender will announce the restructuring next week and may  ... and more »
  • 10:43 PM » Next soggy report: Existing home sales
    Published Thu, Feb 20 2014 10:43 PM by CNBC
    January's existing home sales are expected to show a decline, and nobody will be surprised if it is worse than expected.
  • 4:09 PM » CFPB sends warning to mortgage servicers
    Published Thu, Feb 20 2014 4:09 PM by www.cfpbmonitor.com
    Michael S. Waldron Describing his message as a “tough one,” CFPB Deputy Director Steven Antonakes told attendees yesterday at the Mortgage Bankers Association’s National Mortgage Servicing Conference that “continued sloppiness” by servicers “is difficult to comprehend and not acceptable.” While acknowledging the CFPB’s past statements that it would not immediately expect perfect compliance with the new mortgage servicing... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 4:09 PM » The 20 Zip codes where it is cheaper to buy than rent
    Published Thu, Feb 20 2014 4:09 PM by Washington Post
    Look no farther than rent prices for a reminder that the housing market is still on the mend. Several reports suggest that rents have soared so high, that buying a house can be cheaper than renting one in some parts of the country. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 4:08 PM » Ocwen Said to Raise Less Than Expected in Servicing-Note Sale - Bloomberg
    Published Thu, Feb 20 2014 4:08 PM by Bloomberg
    Ocwen Said to Raise Less Than Expected in Servicing-Note Sale Bloomberg Ocwen Financial Corp. (OCN) raised less than underwriters expected by selling bonds tied to fees from managing government-backed loans as the mortgage servicer's shares fell to the lowest since December 2012. The sale raised $123.6 million, compared  ... and more »
  • 1:54 PM » Honeywell CEO David Cote Tapped For NY Fed Director Role
    Published Thu, Feb 20 2014 1:54 PM by The Huffington Post
    Honeywell International CEO David M. Cote, one of the country's highest-paid executives, was nominated as a director of the Federal Reserve Bank of New York, the bank announced this week. Cote's nomination highlights the unusual structure of the Federal Reserve, which is charged with regulating the banking system but is stocked with top corporate players who do not give up their private sector jobs when taking on a role with the bank. Cote's term as a Class B director at the bank would end Dec. 31, 2016. According to the bank's guidelines, a Class B director cannot be an officer, director or an employee with any other bank. Cote is one of the executives featured in HuffPost's project Pay Pals , which highlights CEO pay. Cote spent 25 years with General Electric, primarily as a senior executive, and in 1999 he left the company to become the chairman, president and CEO of TRW Inc., a provider of products and services for the aerospace, information systems and automotive markets. Cote left TRW in 2002 to join Honeywell , the Morristown, N.J.-based manufacturer of military aerospace products and other technologies. According to a review of public records, Cote made more than $37 million in salary and bonuses from Honeywell in 2011. That year, JPMorgan Chase also paid him $245,000 for serving as a director on its board. The 61-year-old Cote was a director at JPMorgan Chase from 2007 to 2013. Cote serves as a member of the steering committee of the Campaign to Fix the Debt, a bipartisan group that advocates for a federal debt-reduction plan. He also is vice chairman of the Business Roundtable, a pro-business advocacy group. In 2010, President Barack Obama named Cote to the bipartisan National Commission on Fiscal Responsibility and Reform, also known as the Simpson-Bowles commission. Obama later tapped him to serve as co-chairman of the U.S.-India CEO Forum. Cote has advocated for expanding access to energy supplies in North America through development...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 1:53 PM » BREAKING: White House budget to boost spending by $56 billion, drop Boehner ‘grand bargain'
    Published Thu, Feb 20 2014 1:53 PM by Washington Post
    The White House budget to be released early next month will propose $56 billion in new spending on domestic and defense priorities and drop a proposal that was included in last year's budget as a way to attract Republican support -- a plan that would have included less generous payouts of Social Security benefits Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 1:52 PM » Treasurys hold losses after 30-year TIPS auction
    Published Thu, Feb 20 2014 1:52 PM by Market Watch
    NEW YORK (MarketWatch) -- The Treasury Department sold $9 billion in 30-year Treasury inflation-protected securities Thursday at a yield of 1.495%. Bidders offered to buy 2.34 times the amount of debt sold, compared to an average of 2.61 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 56.5%, versus 47.4% in recent sales. Direct bidders, which include domestic money managers, purchased another 4.9%, versus an average of 14.7%. The broader bond market remained lower after the auction. Yields on 10-year notes , which move inversely to prices, rose 4 basis points to 2.772%.
  • 1:49 PM » Private equity's Wild West play
    Published Thu, Feb 20 2014 1:49 PM by CNBC
    Private equity funds are seeing an opportunity in refurbishing sporting ranches near the Rockies, attracting investors like T. Boone Pickens.
  • 11:48 AM » Vital Signs: Housing Inflation Starts to Rise
    Published Thu, Feb 20 2014 11:48 AM by WSJ
    Inflation remains muted at the start of 2014, but one large price category is beginning to move higher. The Labor Department said Thursday that the consumer price index of all goods and services increased 1.6% in the year ended in January. The core CPI, which excludes volatile energy and food prices, was also up just 1.6%. Both indexes show consumer inflation remains muted in the U.S. economy, allowing the Federal Reserve to focus more on the labor markets when making monetary policy decisions. One area worth watching, however,
  • 11:48 AM » Yellen to testify Feb. 27 to Senate panel
    Published Thu, Feb 20 2014 11:48 AM by Market Watch
    WASHINGTON (MarketWatch) -- Federal Reserve Chairwoman Janet Yellen will discuss the outlook for the economy and monetary policy at a Senate Banking Committee hearing on Feb. 27, the panel announced Thursday. The hearing was initially scheduled for Feb. 13 but was postponed because of a winter storm.
  • 10:55 AM » Another ‘Subprime' Adventure? Behind Wells Fargo's Move To Ease Mortgage Lending
    Published Thu, Feb 20 2014 10:55 AM by WSJ
    Wells Fargo & Co. announced this month it would reduce minimum credit scores for certain mortgages eligible for government backing, prompting some declarations that subprime mortgages were making a comeback.
  • 10:52 AM » Cost of owning a home is spiking in 2014
    Published Thu, Feb 20 2014 10:52 AM by CNBC
    Some regions, including California and Michigan, saw monthly house payments rise by 50 percent from a year ago.
  • 10:52 AM » Housing Affordability Holds Steady in Fourth Quarter
    Published Thu, Feb 20 2014 10:52 AM by NAHB
    Press Release
  • 10:52 AM » Severe Winter Weather Contributes to Weak Business Activity
    Published Thu, Feb 20 2014 10:52 AM by www.philadelphiafed.org
    February 20, 2014 - Manufacturing activity was reduced in February, according to firms responding to the latest Business Outlook Survey. The general activity index decreased to -6.3 this month from 9.4 in January. In the comments, participants suggested that much of the weakness was attributable to severe winter weather.
    Click Here to Read the Full Article

    Source: www.philadelphiafed.org
  • 10:51 AM » Fixed Mortgage Rates Tick Up
    Published Thu, Feb 20 2014 10:51 AM by freddiemac.mwnewsroom.com
    Fixed Mortgage Rates Tick Up
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:00 AM » U.S. stocks rise at the open, helped by flash PMI
    Published Thu, Feb 20 2014 10:00 AM by Market Watch
    NEW YORK (MarketWatch) -- U.S. stocks edged up at the open on Thursday, as an encouraging reading on U.S. manufacturing offset downbeat economic reports from China and Europe. U.S. stock futures had started to rally after U.S. labor and inflation data that largely matched expectations, then gained further after Markit's U.S. flash purchasing managers' index jumped to its highest level in almost four years. The S&P 500 was last up 3 point to 1,832, while the Dow Jones Industrial Average gained 18 points to 16,058. The Nasdaq Composite rose 11 points to 4,249.
  • 9:20 AM » Factory activity growth hits nearly four-year high in February: Markit
    Published Thu, Feb 20 2014 9:20 AM by Reuters
    NEW YORK (Reuters) - U.S. manufacturing activity accelerated in February at its fastest pace in nearly four years due in part to growth in new orders, an industry report showed on Thursday.
  • 8:34 AM » Jobless Claims in U.S. Decreased Last Week as Firings Abated
    Published Thu, Feb 20 2014 8:34 AM by Bloomberg
    Jobless Claims in U.S. Decreased Last Week as Firings Abated Bloomberg Fewer Americans filed applications for unemployment benefits last week, a sign employers are holding the line on firings even as cold weather slowed industries from manufacturing to housing. Jobless claims declined by 3,000 to 336,000 in the week ended  ...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.24%
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  • 15 Yr FRM 3.36%
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  • Jumbo 30 Year Fixed 4.08%
MBS Prices:
  • 30YR FNMA 4.5 107-17 (-0-03)
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  • 30YR FNMA 5.0 110-05 (-0-01)
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  • 30YR FNMA 5.5 110-28 (0-03)
Recent Housing Data:
  • Mortgage Apps 2.43%
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  • Refinance Index 4.14%
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  • FHFA Home Price Index 0.67%