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  • Wed, Jul 2 2014
  • 10:53 PM » Optimism surrounds June jobs report
    Published Wed, Jul 02 2014 10:53 PM by CNBC
    Economists expect job creation in June to be about the same as May or in some cases eve a bit better.
  • 5:34 PM » DOJ finalizing suit against Citigroup over mortgage-backed securities
    Published Wed, Jul 02 2014 5:34 PM by CNBC
    Please check back for further updates.
  • 5:34 PM » Freddie Mac Reduces Taxpayer Exposure With $285 Million Credit Risk Insurance Policies
    Published Wed, Jul 02 2014 5:34 PM by freddiemac.mwnewsroom.com
    Freddie Mac Reduces Taxpayer Exposure With $285 Million Credit Risk Insurance Policies
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 5:34 PM » Move over, Freddie Mac: Ginnie Mae will be number 2 soon
    Published Wed, Jul 02 2014 5:34 PM by Google News
    At the current growth rate, the Government National Mortgage Association (GNMA) known as "Ginnie Mae" will overtake Freddie Mac within the year as the second largest single-family mortgage securitization platform. In May, Ginnie Mae's book of business hit $1.5 trillion, more than tripling over the past seven years. This milestone affirms that financing through liquid, [...]
  • 2:22 PM » Can the Fed and Janet Yellen control bubbles?
    Published Wed, Jul 02 2014 2:22 PM by CNBC
    Fed Chair Janet Yellen recognizes asset bubbles may be forming due to low rates and says the Fed can work to contain them without raising rates.
  • 1:20 PM » Nevermind the headlines, tomorrow's jobs report is all about discouraged workers
    Published Wed, Jul 02 2014 1:20 PM by Washington Post
    The economic recovery has been nasty, brutish, and long-but the question now is whether it's about to get a little less so. On Thursday, the U.S. Department of Labor is set to release its latest look at the jobs market. And, once again, there's some optimism that this could finally be the moment when the economy starts to pick up speed. The first quarter's wintry weather is well behind us, and so should its low- actually negative -growth. Now, hiring didn't slow down even though GDP did , but both could accelerate the next few months as the economy, hopefully, makes up for its miserable start to the year. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 1:17 PM » Property Valuation Fraud Risk Up Nationwide
    Published Wed, Jul 02 2014 1:17 PM by www.firstam.com
    Interthinx, a subsidiary of First American Financial Corporation (NYSE: FAF ) and a leading provider of comprehensive risk mitigation solutions for the financial services industry, has released its quarterly interactive Mortgage Fraud Risk Report covering data collected in the first quarter of 2014. In the first quarter of 2014, the national Mortgage Fraud Risk Index value is 100, the same value as it was a year ago and down 1 percent from Q4 2013. The national Property Valuation Fraud Risk Index is 128, up 27 percent from last quarter and 17 percent from a year ago. Indicators suggest this increase is driven by persons in certain areas purchasing and listing multiple properties in the same neighborhood. By controlling those markets, these persons have the ability to artificially control the price of a property to their advantage.  Another contributing factor observed is the rise of properties being appraised well above traditional valuation thresholds. Other notable findings in the report include the following: California continues to be the riskiest state with a Mortgage Fraud Risk Index of 146, and it contains eight of the 10 riskiest Metropolitan Statistical Areas, (MSAs) and eight of the 10 riskiest ZIP codes. California also continues to dominate the type-specific lists with four of the 10 riskiest MSAs for property valuation fraud, seven of the 10 riskiest MSAs for identity fraud, six of the 10 riskiest MSAs for occupancy fraud and eight of the 10 riskiest MSAs for employment/income fraud. The top 10 riskiest states for Q1 2014 are California; Washington, D.C.; Florida; Maryland; Arizona; Connecticut; New Jersey; Maine; Arkansas; and Colorado. For the first time since the inception of this report in 2009, Nevada is not in the top 10. After largely disappearing from the riskiest MSAs, Miami-Ft. Lauderdale-Pompano Beach, Florida reappeared this quarter as the ninth riskiest MSA in overall fraud risk with an index of 136, sixth riskiest for property valuation...
    Click Here to Read the Full Article

    Source: www.firstam.com
  • 1:17 PM » The way for regulators to hit a bank where it hurts: a ban from markets
    Published Wed, Jul 02 2014 1:17 PM by Washington Post
    Imagine if a bank that wrongfully foreclosed on hundreds of homeowners couldn't issue mortgages for a year. Or an institution that sold billions of dollars worth of bonds full of toxic loans couldn't sell securities for six months. And dozens of employees, including senior managers, involved in either case were fired. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:46 AM » Yellen: Seeing pockets of increased risk-taking
    Published Wed, Jul 02 2014 11:46 AM by CNBC
    Falling corporate bond spreads and volatility indicators are signs that investors may not fully appreciate the risk of future losses, she warned.
  • 10:38 AM » U.S. factory orders hurt by defense; investment appetite positive
    Published Wed, Jul 02 2014 10:38 AM by Reuters
    WASHINGTON, July 2 (Reuters) - A fall in demand for military equipment spurred a drop in new orders for U.S. factory goods in May, but signs of a healthy appetite for investment in the private sector pointed to broader strength in the economy. The Commerce Department said on Wednesday new orders for manufactured goods decreased 0.5 percent. That was a steeper drop than the 0.3 percent decline forecasted by analysts.
  • 10:37 AM » CFPB Renovation Costs Now Exceed $215 Million - $120 Million More Than Previous Estimate
    Published Wed, Jul 02 2014 10:37 AM by House Financial Services
    CLICK HERE TO VIEW THE REPORT The cost of renovating the CFPB's rented headquarters has spiraled to more than $215 million - $65 million more than the agency's estimate just six months ago and $120 million more than last year's estimate, according to the Federal Reserve's Inspector General. It also equals more than $590 per square foot being renovated at the CFPB's rented headquarters.  That means the CFPB is spending much more per square foot than it cost to build the Trump World Tower ($334/square foot), the Bellagio Hotel and Casino ($330/square foot) and the Burj Khalifa in Dubai ($450/square foot). The renovation project has been mired in controversy.  For more than a year, members of the House Financial Services Committee have questioned CFPB officials about its rising cost, about why an agency that is renting a building is paying for renovations in the first place, and the extravagance of such features as a four-story glass staircase, two-story waterfall and sunken garden. "When they passed the Dodd-Frank Act, Democrats in Congress and the White House made the CFPB unaccountable to taxpayers and to Congress.  We're seeing the results of this dangerous unaccountability today in a Washington bureaucracy that is running amok, spending as much as it wants on whatever it wants.  It's outrageous," said Financial Services Committee Chairman Jeb Hensarling (R-TX). In addition to reporting on the project's increasing cost, the Inspector General also notes: The CFPB "was unable to locate any documentation of the decision to fully renovate the building." (page 6 of the report) The CFPB failed to follow all of its own guidelines for gaining approval by its Investment Review Board for the building renovation.  (page 6) Because of this failure, "a sound business case is not available to support the funding of the renovation." (page 7) Rep. Patrick McHenry, Chairman of...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 9:04 AM » Rise in Partisan Conflict is a Drag on the U.S. Economy
    Published Wed, Jul 02 2014 9:04 AM by WSJ
    Partisan political bickering is driving up government budget deficits and holding down job creation, business investment and overall U.S. economic growth, according to new research from the Philadelphia Fed.
  • 9:03 AM » U.S. private sector adds 281,000 jobs in June: ADP
    Published Wed, Jul 02 2014 9:03 AM by Reuters
    NEW YORK (Reuters) - U.S. companies hired 281,000 workers in June, marking the biggest monthly increase since November 2012 and well above market expectations, a report by a payrolls processor showed on Wednesday.
  • 9:02 AM » U.S. Job Creation Index Holds at Six-Year High in June
    Published Wed, Jul 02 2014 9:02 AM by www.gallup.com
    Gallup's U.S. Job Creation Index registered at +27 in June, matching the more than six-year high recorded in May. The index among government workers hit a new high of +18 in June, edging out the +16 found in August 2008.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:02 AM » U.S. Payroll to Population Rate Rises to 45.0% in June
    Published Wed, Jul 02 2014 9:02 AM by www.gallup.com
    Gallup's Payroll to Population employment rate climbed to 45.0% in June, one of the highest monthly averages in the four-year trend. Gallup's unadjusted monthly unemployment rate fell to a record-low 6.8%.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:01 AM » Yellen and Lagarde Take Stock of Lessons from Crises Past
    Published Wed, Jul 02 2014 9:01 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Wednesday, July 2, 2014. Jon Hilsenrath writes about the lessons Janet Yellen and Christine Lagarde may draw from the handling of financial crises past.
  • 8:28 AM » For Sale: Vacant Lots On Chicago Blocks, Just $1 Each
    Published Wed, Jul 02 2014 8:28 AM by www.npr.org
    Empty lots have multiplied in parts of Chicago in recent years, so the city is selling them to homeowners dirt cheap. It's an effort to spark renewal in some of the city's most blighted areas.
  • 8:26 AM » Summer surge: Private sector jobs jump, ADP says
    Published Wed, Jul 02 2014 8:26 AM by CNBC
    Private sector job creation surged in June, with companies adding 281,000 new positions, according to a report from ADP.
  • 8:24 AM » UK house prices pass pre-crisis peak
    Published Wed, Jul 02 2014 8:24 AM by CNBC
    U.K. house prices climbed in June to surpass highs reached in 2007, as the average price of a property in London reached $686,190 for the first time.
  • 8:23 AM » Mortgage volume remains stuck despite lower rates
    Published Wed, Jul 02 2014 8:23 AM by CNBC
    Mortgage applications barely budged last week, despite recent reports of a surge in home sales, data from the Mortgage Bankers Association (MBA) show.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.99%
  • |
  • 15 Yr FRM 3.16%
  • |
  • Jumbo 30 Year Fixed 3.91%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-04)
  • |
  • 30YR FNMA 5.0 110-22 (0-03)
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  • 30YR FNMA 5.5 111-22 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%