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  • Thu, Apr 3 2014
  • 11:27 PM » Redfin Posts Open Letter to Zillow
    Published Thu, Apr 03 2014 11:27 PM by blog.redfin.com
    Today, Redfin posted an open letter to Zillow on Inman.com. We are asking for changes to how Zillow displays Redfin listings so consumers can easily navigate from Zillow to Redfin for the complete record of that listing. We are also asking that Zillow respect the local listing rules around privacy that we promised to honor... Read More The post Redfin Posts Open Letter to Zillow on Inman.com appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 11:27 PM » Google's Nest halts home alarm system sales over possible defect
    Published Thu, Apr 03 2014 11:27 PM by Reuters
    SAN FRANCISCO (Reuters) - Nest Labs Inc, the maker of smart thermostats that Google Inc acquired for $3.2 billion, called a halt to all sales of its smoke alarms on Thursday after it discovered a possible defect that could cause users to turn it off unintentionally.
  • 11:24 PM » Former U.S. regulator says Fannie, Freddie investors stand to lose
    Published Thu, Apr 03 2014 11:24 PM by Reuters
    WASHINGTON (Reuters) – James Lockhart, a former regulator of Fannie Mae and Freddie Mac who is now with private equity firm WL Ross & Co, on Thursday said investors are making “worthless” bets snapping up the stock of the two mortgage finance firms. As the U.S. Congress debates what to do with the taxpayer-owned companies, [...]
  • 8:15 PM » Senate markup of tax extenders is positive for housing
    Published Thu, Apr 03 2014 8:15 PM by National Housing Conference
    by Ethan Handelman, National Housing Conference A collegial, efficient, and nevertheless long markup session in the Senate Finance Committee produced a tax extenders bill with several positives for affordable housing. Chairman Ron Wyden (D-OR) joined with Ranking Member Orrin Hatch (R-UT) to offer a selected set of tax provisions to extend for two years. Among the provisions included in the bill were several that could help housing and community development efforts if and when the bill becomes law: Extend the Mortgage Debt Relief Act , which protects households going through foreclosure, short sale, or mortgage modification from having to pay an additional tax bill. NHC and many allies in the National Foreclosure Prevention and Neighborhood Stabilization Task Force wrote to members of the committee in support of this provision, and NHC joined a separate coalition effort of national groups earlier this month. Senator Enzi (R-WY) opposed this provision as unneeded, but Senators Stabenow (D-MI), Nelson (D-FL), Brown (D-OH), and Isakson (R-GA) all voiced strong support, and Senator Stabenow cited data from many states still facing high rates of potential foreclosures. Extend the minimum 9% credit percentage for the Low Income Housing Tax Credit. The ACTION Campaign, of which NHC is a member, has long advocated for this provision, as well as the 4% provision below. This was included in the Chair's mark. Senator Cantwell (D-WA) in particular spoke in support of the Housing Credit.  Enact a 4% minimum credit percentage for Low Income Housing Tax Credits that accompany volume cap private activity bonds. This provision was added by amendment during the markup. Renew the New Markets Tax Credit for two years, which supports community development in places underserved by other capital sources. Senators Schumer (D-NY), Brown, and Cantwell called out the NMTC as a valuable program. Extend a provision making it easier for military families in Housing Credit properties...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 8:14 PM » Alaska Supreme Court Affirms MERS' Authority to Assign Trust Deed
    Published Thu, Apr 03 2014 8:14 PM by MERS
    MERS has Right to Take Action as Beneficiary FOR IMMEDIATE RELEASE CONTACT: Janis Smith Phone: 703-738-0230 Email: janiss@mersinc.org Reston, Virginia, April 3, 2014 -MERSCORP Holdings, Inc. today announced that the Supreme Court of the State of Alaska affirmed the trial court's decision validating MERS' status as trust deed beneficiary and upholding the non-judicial foreclosure proceeding related to plaintiff's property. In Espeland v. OneWest Bank , the plaintiffs' cause of action seeking to void the trustee sale was based on several grounds, most notably that the MERS assignment of the trust deed to the foreclosing party, IndyMac Federal Bank, FSB ("IndyMac") was invalid because MERS never held an interest in the underlying promissory note. The plaintiffs further alleged that IndyMac, the assignee of the MERS assignment, lacked the authority to appoint the successor trustee who conducted the foreclosure sale. In affirming the trial court's decision the Supreme Court found no defects in the chain of title which would have prevented the successor trustee from conducting the non-judicial foreclosure. Quoting directly from the subject MERS deed of trust, the Supreme Court found that the deed of trust granted MERS "the right to take any action of [the] Lender. Accordingly, the Court ruled that MERS "had the power to assign the Deed of Trust" and thereby transfer its interest to IndyMac. "The Supreme Court of the State of Alaska affirms that MERS, as trust deed beneficiary possesses the power to assign the deed of trust and the authority to take any action the actual lender could have taken," said MERSCORP Holdings Vice President for Corporate Communications, Janis Smith. "And further," she said, "this authority is granted by plain language in the mortgage document signed at closing by the borrower." For descriptions of cases and other materials pertaining to MERS' business model and role in...
  • 8:12 PM » Hopes high for March jobs data, but maybe too high
    Published Thu, Apr 03 2014 8:12 PM by CNBC
    After hunkering down in the cold winter months, employers most likely increased hiring in March, but maybe not as much as some traders expect.
  • 3:57 PM » Pimco pro: Stocks will beat bonds this year
    Published Thu, Apr 03 2014 3:57 PM by CNBC
    Pimco may run the world's largest bond fund, but that doesn't mean it's bullish on the bond market.
  • 2:47 PM » Fed Gov. Jeremy Stein is resigning. Here are his greatest hits.
    Published Thu, Apr 03 2014 2:47 PM by Washington Post
    The Federal Reserve announced Thursday that Jeremy Stein is stepping down from the board of governors to return to teaching at Harvard University. Stein made his name as a sharp and influential voice within the central bank, particularly on financial arcana, since he was appointed two years ago. Though he has supported the Fed's easy-money policies, he also proved willing to challenge the consensus view on the costs of the programs and the best way to wind them down. Stein has given 15 speeches during his term. Here are some of his greatest hits. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 2:42 PM » 3 reasons small biz wants to hire
    Published Thu, Apr 03 2014 2:42 PM by CNBC
    Small business owners are the most optimistic about their prospects since before the Great Recession, says a new survey.
  • 2:40 PM » NAHB Supports Senate Bill that Addresses "Patent Trolls"
    Published Thu, Apr 03 2014 2:40 PM by NAHB
    Press Release
  • 2:39 PM » Rent a home or buy? Depends where you live
    Published Thu, Apr 03 2014 2:39 PM by CNBC
    As the housing market stages an uneven recovery, the decision to buy a home is no longer a slam dunk. Look at the factors.
  • 12:58 PM » So long, winter! Vacation homes heating up
    Published Thu, Apr 03 2014 12:58 PM by CNBC
    Vacation home sales are on a tear, and more than half of the owners say rentals are already booked for at least half the summer.
  • 12:57 PM » CFPB employee testifies at House hearing on alleged CFPB employee discrimination
    Published Thu, Apr 03 2014 12:57 PM by www.cfpbmonitor.com
    Barbara S. Mishkin At yesterday’s hearing on alleged CFPB employee discrimination conducted by the House Financial Services Committee's Subcommittee on Oversight and Investigations, a CFPB employee is reported to have testified that the agency has “a pervasive culture of retaliation and intimidation that silences employees and chills the workforce from exposing wrongdoing.” Angela Martin, a CFPB enforcement attorney, claimed that... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 12:21 PM » Market Extra: Bond market could forget about long-term jobless
    Published Thu, Apr 03 2014 12:21 PM by Market Watch
    Bond yields have been held down by accommodative monetary policy premised on a lagging labor market among the long-term unemployed. But that could change
  • 12:21 PM » Fannie, Freddie Overhaul Will Translate Into Higher Mortgage Rates
    Published Thu, Apr 03 2014 12:21 PM by WSJ
    Mortgage rates could rise by as much as 1.5 percentage points for homeowners with weaker credit or smaller down payments under various legislative proposals to overhaul Fannie and Freddie , according to a study prepared for an industry group.
  • 11:27 AM » Jeremy C. Stein submits resignation as a member of the Board of Governors, effective May 28, 2014
    Published Thu, Apr 03 2014 11:27 AM by Federal Reserve
    Jeremy C. Stein submits resignation as a member of the Board of Governors, effective May 28, 2014
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 11:27 AM » Federal Reserve Board announces termination of enforcement action with Flagler Bank
    Published Thu, Apr 03 2014 11:27 AM by Federal Reserve
    Federal Reserve Board announces termination of enforcement action with Flagler Bank
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 11:27 AM » 'Bond King' Gross writes an ode to his dead cat, Bob
    Published Thu, Apr 03 2014 11:27 AM by Reuters
    (Reuters) - Bill Gross, co-founder of bond fund giant Pimco and widely known as the "Bond King," has had a rough start to the year.
  • 10:19 AM » US services sector expands in March
    Published Thu, Apr 03 2014 10:19 AM by CNBC
    The U.S. services sector accelerated in March, shaking off a frigid winter's effects.
  • 9:13 AM » U.S. Payroll to Population Rate 42.7% in March
    Published Thu, Apr 03 2014 9:13 AM by www.gallup.com
    The U.S. Payroll to Population employment rate was 42.7% in March, remaining below the 2013 and 2012 yearly averages.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:12 AM » Have GSEs Fully Repaid the Treasury?
    Published Thu, Apr 03 2014 9:12 AM by The Big Picture
    Have the Government-Sponsored Enterprises Fully Repaid the Treasury? Larry D. Wall March 2014, Atlanta Fed     Have U.S. taxpayers been fully compensated for their bailout of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac? The Treasury is reported to have argued that “the value of Treasury’s commitment to the GSEs was “incalculably large,’”... Read More
    Click Here to Read the Full Article

    Source: The Big Picture
  • 9:09 AM » Jobless claims rise more than expected
    Published Thu, Apr 03 2014 9:09 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend continued to point to some strength in the labor market.
  • 9:09 AM » Trade deficit widens as exports fall
    Published Thu, Apr 03 2014 9:09 AM by Reuters
    WASHINGTON (Reuters) - The U.S. trade deficit unexpectedly widened in February as exports fell to their lowest level in five months, further signs economic growth slowed in the first quarter.
  • 9:09 AM » Treasury prices hold slight gains after data
    Published Thu, Apr 03 2014 9:09 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasury prices bounced around Thursday but remained mostly higher on the day after a round of jobs and trade data. The 5-year note yield, which falls as prices rise, fell half slightly to 1.793%, and the 30-year bond yield fell 1 basis point to 3.640%. The benchmark 10-year note yield was unchanged on the day at 2.803%. Data on Thursday showed jobless claims rose 16,000 to 326,000 last week. Economists has expected 320,000. The trade deficit rose 7.7% in February to $42.3 billion.
  • 9:07 AM » CFPB issues second annual complaints report
    Published Thu, Apr 03 2014 9:07 AM by www.cfpbmonitor.com
    Barbara S. Mishkin In issuing its Consumer Response Annual Report analyzing complaints handled in 2013, the CFPB’s headline was that volume nearly doubled from 91,000 complaints received in 2012 to 163,700 complaints received in 2013. The report provides data on the most common types of complaints for each product, the handling of complaints and median monetary relief. Of... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 9:07 AM » CFPB launching community financial education project
    Published Thu, Apr 03 2014 9:07 AM by www.cfpbmonitor.com
    Barbara S. Mishkin The CFPB has announced that it plans to launch a new Community Financial Education Project in which it will work with public libraries across the country to help them provide free financial information and referrals. The launch will be the subject of an event hosted by the CFPB’s Office of Financial Education that is scheduled for... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 8:39 AM » Jobless Claims in U.S. Rose 16000 Last Week to 326000
    Published Thu, Apr 03 2014 8:39 AM by Bloomberg
    Jobless Claims in U.S. Rose 16000 Last Week to 326000 Bloomberg A job seeker has her resume looked at during the Choice Career Fairs job fair in Arlington, Virginia. A job seeker has her resume looked at during the Choice Career Fairs job fair in Arlington, Virginia. Close. Close. Open. Photographer: Andrew Harrer/ ...
  • 8:38 AM » Crime inquiry said to open on Citigroup
    Published Thu, Apr 03 2014 8:38 AM by CNBC
    Just as Citigroup was putting taxpayer bailouts and risky investments behind it, the bank now finds itself in the cross hairs again.
  • 8:37 AM » Homebuyers getting priced out in cities across U.S.
    Published Thu, Apr 03 2014 8:37 AM by CNN
    In big cities across the country, prospective home buyers are growing increasingly frustrated as rising home prices, tight inventory and stiff competition freeze them out of their local housing markets.
  • 8:18 AM » US bonds markets to digest ISM, trade deficit
    Published Thu, Apr 03 2014 8:18 AM by CNBC
    U.S. bonds traded flat-to-higher with markets awaiting the last flow of data ahead of the key official non-farm payrolls.
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Mortgage Rates:
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  • 15 Yr FRM 3.12%
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  • Jumbo 30 Year Fixed 3.73%
MBS Prices:
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  • 30YR FNMA 5.0 110-12 (0-02)
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Recent Housing Data:
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  • Refinance Index 0.90%
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  • FHFA Home Price Index 0.67%