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  • Mon, Apr 28 2014
  • 8:53 PM » Amended housing-reform bill set for Senate panel
    Published Mon, Apr 28 2014 8:53 PM by Market Watch
    WASHINGTON (MarketWatch) -- A Senate panel is scheduled to get to work Tuesday on a major housing-finance-reform bill that's been amended. Here are two changes of particular interest, according to a copy of the proposal. One, as expected by analysts, the amended Crapo-Johnson bill says that guarantors for mortgage-backed securities that come with government-backstop insurance can't also originate eligible mortgages. "This is a way to ensure community bank and credit union support for the measure and it is likely to pick up votes on the left and the right from the crowd that worries about too big to fail," Jaret Seiberg, analyst at Guggenheim Securities, wrote in a recent note. Two, the revised bill says that it wouldn't supersede final court rulings on the U.S. Treasury Department's bailout agreement that forces Fannie Mae and Freddie Mac to send their profits to the government. Investors in the federally controlled mortgage-finance companies have filed suits to contest the agreement, and many observers say the courts are shareholders' best bet to receive any payout.
  • 4:03 PM » States With the Biggest Infrastructure Need
    Published Mon, Apr 28 2014 4:03 PM by The Big Picture
    Click for full graphic. Source: Bloomberg Visual Data
    Click Here to Read the Full Article

    Source: The Big Picture
  • 3:10 PM » U.S. to pay off $79 billion in April-June quarter
    Published Mon, Apr 28 2014 3:10 PM by Market Watch
    WASHINGTON (MarketWatch) -- The U.S. Treasury expects to pay off $78 billion of debt in the third fiscal quarter, compared to an earlier projection, given in February, that it would pay off $40 billion, the government said Monday. This will be the largest amount of debt the Treasury has paid off in any quarter since April-June 2007. In a statement, Treasury said the changed projection relates to higher cash balances. For the fourth fiscal quarter, which begins in July, the government expects to borrow $169 billion. This assumes quarter-end cash balances of $130 billion on June 30 and on September 30. The department will announce on Wednesday the sizes and terms of the auctions that it holds four times a year to finance a portion of its borrowing needs.
  • 2:35 PM » Another good sign: Private profits soar
    Published Mon, Apr 28 2014 2:35 PM by CNBC
    But what does that mean for the economy?
  • 1:06 PM » Vital Signs: Home Demand Picks Up in March
    Published Mon, Apr 28 2014 1:06 PM by WSJ
    The National Association of Realtors said its index of pending home sales increased a larger-than-expected 3.4% in March.
  • 11:25 AM » Investors Push for New Trustee Standards in Fannie-Freddie Bill - Bloomberg
    Published Mon, Apr 28 2014 11:25 AM by Bloomberg
    Investors Push for New Trustee Standards in Fannie-Freddie Bill Bloomberg The Association of Institutional Investors, whose members include Pacific Investment Management Co. and Fidelity Investments, is pushing lawmakers debating an overhaul of the U.S. home-loan market to create an "unambiguous fiduciary standard" for ... and more »
  • 11:22 AM » How High Will U.S. Mortgage Rates Go?
    Published Mon, Apr 28 2014 11:22 AM by
    Housing finance reform enters a critical phase this week, as the Senate Banking Committee considers the Johnson-Crapo reform legislation. A key question for all reform proposals, including this one, is how they will affect mortgage rates. Late last week, the Federal Housing Finance Agency released a range of cost estimates for the Johnson-Crapo legislation, provided by Fannie Mae and Freddie Mac. I thought these worthy of comment, given the importance of the issue as the Senate takes up the bill.
    Click Here to Read the Full Article

  • 11:18 AM » Court to clarify process for rescinding mortgages
    Published Mon, Apr 28 2014 11:18 AM by
    WASHINGTON (AP) - The Supreme Court will decide what a home buyer must do to rescind a mortgage that violates the federal Truth in Lending Act. The justices on Monday agreed to hear an appeal from a Minnesota couple who refinanced their home in 2007 with Countrywide Home Loans, Inc. They claim the company failed to provide some disclosures required under federal law.
    Click Here to Read the Full Article

  • 10:49 AM » Black Knight Home Price Index Report: February 2014 Transactions
    Published Mon, Apr 28 2014 10:49 AM by LPS
    Black Knight Home Price Index Report: February 2014 Transactions<br/>
  • 10:43 AM » Fannie-Freddie wind-down bill in test
    Published Mon, Apr 28 2014 10:43 AM by CNBC
    Lobbying by opponents of a bill to wind down Fannie Mae and Freddie Mac appears to be gaining traction, Financial Times reports.
  • 10:43 AM » How Much Will Mortgage Rates Rise In Fannie, Freddie Overhaul?
    Published Mon, Apr 28 2014 10:43 AM by WSJ
    Most Americans probably haven't paid much attention to the debate over what to do with Fannie Mae and Freddie Mac, the mortgage-finance giants that the U.S. took over in 2008 to stave off a broader housing depression.
  • 10:43 AM » Bond Report: Treasurys retreat as big data week kicks off
    Published Mon, Apr 28 2014 10:43 AM by Market Watch
    Treasury prices retreat as the market begins to expect a rebound in economic data.
  • 9:50 AM » 4 Homeownership Myths That Refuse to Die
    Published Mon, Apr 28 2014 9:50 AM by Freddie Mac
    By VP and Head of Single-Family Sourcing & Relationship Management Christina Boyle April marks the beginning of the homebuying season, and for the first time in well over a decade, home sales – not refinancings – are expected to dominate the market. But a few stubbornly persistent myths about buying a home are likely to keep some potential buyers on the sidelines. Let's knock down those myths with the facts. Read More
  • 9:34 AM » Don't depend on housing to boost the economy now, 'housing recovery was a sham'
    Published Mon, Apr 28 2014 9:34 AM by
    The housing market appears to be hurting. Last week we learned that sales of new homes plunged 14.5% in March compared to February, while sales of existing homes fell slightly month-to-month, too. Meanwhile, demand for home loans have hit a 14-year low in the first quarter, according to industry newsletter Inside Mortgage Finance.
    Click Here to Read the Full Article

  • 9:34 AM » Freddie Mac CEO says Senate housing bill risks market stability
    Published Mon, Apr 28 2014 9:34 AM by
    The head of government-run mortgage financier Freddie Mac has warned the company's regulator that a U.S. Senate bill on housing finance reform could undermine the stability of the mortgage market if it became law in its current form.
    Click Here to Read the Full Article

  • 9:24 AM » Fed on Track to Hold Policy Steady, Mull Economic Puzzles
    Published Mon, Apr 28 2014 9:24 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Monday, April 28, 2014 Sign up for the newsletter: . "Janet L. Yellen, the new [Fed] chair, has felt the need to continually reassure the markets that cheap and easy credit will be available for years to come. The Fed's upbeat message: Party on, dudes." -Washington Post Columnist Steven Pearlstein HILSENRATH'S TAKE The Federal Reserve's two-day policy meeting is shaping up as a low-key event compared with other meetings in the past few months. The Fed is on track to scale back its monthly bond-buying by another $10 billion to $45 billion. Having revised its guidance about interest rates in March it looks unlikely to do so again. Its assessment of the economy's performance seems unlikely to change substantially. Labor indicators have been improving, though mixed, and the jobless rate remains elevated. Inflation is still running below the Fed's 2% objective. Growth indicators are evolving largely as officials expected: As they said in March, activity looks like it slowed in the winter months, though officials might acknowledge some signs of pickup in March and early April. Household spending, for instance, appears to have improved. A bigger surprise has been on the housing front, where activity has slowed.
  • 9:22 AM » Mortgage-Loan Limits Hit Buyers In High-Cost Housing Markets
    Published Mon, Apr 28 2014 9:22 AM by WSJ
    You may like living on the coasts, but you pay for it every day. Homes are more expensive, and even if you can afford one it's harder to get a loan. That's the message from a new analysis by real-estate firm Trulia Inc. of loan limits -- the maximum loan size that can be sold to mortgage giants Freddie Mac and Fannie Mae -- in the nation's largest 100 metropolitan areas.
  • 9:03 AM » BofA to suspend previous capital plans
    Published Mon, Apr 28 2014 9:03 AM by CNBC
    Bank of America revised its previously announced regulatory capital ratios downward, the company announced Monday.
  • 9:02 AM » Average U.S. Retirement Age Rises to 62
    Published Mon, Apr 28 2014 9:02 AM by
    The average age at which retired Americans report retiring continues to creep up, reaching a new high of 62. The average age at which non-retired Americans expect to retire remains higher, at 66.
    Click Here to Read the Full Article

  • 8:29 AM » Fannie-Freddie Fate Hangs on Senate Action This Week: Mortgages - Bloomberg
    Published Mon, Apr 28 2014 8:29 AM by Bloomberg
    Fannie-Freddie Fate Hangs on Senate Action This Week: Mortgages Bloomberg Senator Tim Johnson, left, talks to Senator Mike Crapo before a hearing in Washington, D.C. A bill written by Johnson and Crapo would replace Fannie Mae and Freddie Mac over five years with government insurance for mortgage bonds that would kick in ... and more »
  • 8:29 AM » Mortgage Whistleblower Stands Alone as U.S. Won't Join Lawsuit - Bloomberg
    Published Mon, Apr 28 2014 8:29 AM by Bloomberg
    Mortgage Whistleblower Stands Alone as U.S. Won't Join Lawsuit Bloomberg Two years after Lynn Szymoniak helped the U.S. recover $95 million from Bank of America Corp. and other lenders for mortgage-fraud tied to the housing bubble, the whistle-blower said the government is ignoring a chance to collect more money for identical ...
  • 8:28 AM » Futures rebound from Friday drop, pending home sales on tap
    Published Mon, Apr 28 2014 8:28 AM by Reuters
    NEW YORK (Reuters) - U.S. stock index futures rose on Monday, rebounding from sharp losses on Friday, boosted by merger and acquisition activity in the pharmaceuticals sector.
  • 8:24 AM » More hawkish Fed policy expected: CNBC survey
    Published Mon, Apr 28 2014 8:24 AM by CNBC
    The April CNBC Fed Survey shows respondents looking for a 1 percent Fed Funds rate on average to end 2015, up from 0.83 percent in March.
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 4.10%
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  • Jumbo 30 Year Fixed 4.70%
MBS Prices:
  • 30YR FNMA 4.5 104-05 (0-05)
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  • 30YR FNMA 5.0 105-28 (0-02)
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  • 30YR FNMA 5.5 107-05 (0-01)
Recent Housing Data:
  • Mortgage Apps -1.15%
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  • Refinance Index -2.64%
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  • Purchase Index 5.06%