Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
121,707
# 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 5 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.
  • Thu, Dec 18 2014
  • 3:41 PM » Julián Castro shares his thoughts on leadership
    Published Thu, Dec 18 2014 3:41 PM by Washington Post
    Julián Castro became secretary of the Department of Housing and Urban Development (HUD) in July after serving as mayor of San Antonio, Texas. He now is responsible for overseeing 8,000 employees and a budget of $46 billion, as well as for promoting community development and housing opportunities nationwide.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:37 PM » U.S. Crude Output Rose to 28-Year High in November: API - Bloomberg
    Published Thu, Dec 18 2014 3:37 PM by Bloomberg
    U.S. Crude Output Rose to 28-Year High in November: API Bloomberg U.S. crude-oil production advanced above 9 million barrels a day last month for the first time in 28 years, the American Petroleum Institute said. The U.S. pumped 9.06 million barrels a day of crude in November, up 15 percent from a year earlier and the most ... and more »
  • 3:36 PM » Fed delays Volcker rule until 2017
    Published Thu, Dec 18 2014 3:36 PM by CNBC
    The Fed gave banks more time to meet a provision in the Volcker rule that bans them from betting with their own money through investments in risky hedge and private equity funds.
  • 3:35 PM » SEC charges Staten Island firm for defrauding $9 million from seniors
    Published Thu, Dec 18 2014 3:35 PM by Market Watch
    WASHINGTON (MarketWatch) -- A Staten-Island-based firm has been charged with running a "boiler-room" scheme to fraudulently entice seniors to invest in start-up companies. The Securities and Exchange Commission alleged that Premier Links Inc., its former president and two sales representatives cold-called seniors to persuade them to invest in companies supposedly about to conduct an initial public offering. The firm defrauded at least $9 million from more than 300 investors, the SEC alleged. In one instance, the SEC claims the defendants defrauded a veteran out of $300,000. The U.S. Attorney's Office for the Eastern District of New York also filed criminal charges.
  • 3:35 PM » Texas Could Be Headed for an Oil-Fueled Recession, J.P. Morgan Economist Says
    Published Thu, Dec 18 2014 3:35 PM by WSJ
    The global plunge in oil prices could lead to a painful economic downturn in Texas, J.P. Morgan Chase's chief U.S. economist said Thursday.
  • 1:33 PM » Wells Fargo NeighborhoodLIFT program invests $6 million to boost homeownership in San Antonio
    Published Thu, Dec 18 2014 1:33 PM by www.wellsfargo.com
    Wells Fargo & Company, NeighborWorks America and Alamo Community Group will join Mayor Taylor to announce the San Antonio Wells Fargo NeighborhoodLIFT® program, an initiative offering $6 MM to boost homeownership.
    Click Here to Read the Full Article

    Source: www.wellsfargo.com
  • 1:33 PM » Alternative lenders are hot -- especially among millennials
    Published Thu, Dec 18 2014 1:33 PM by CNN
    The future is looking bright for alternative lenders.
  • 1:32 PM » Deflation Warning Sounds as 2-Year Break-Even Rates Go Negative - Bloomberg
    Published Thu, Dec 18 2014 1:32 PM by Bloomberg
    Deflation Warning Sounds as 2-Year Break-Even Rates Go Negative Bloomberg Even with the Federal Reserve reminding investors that policy makers remain on course to raise interest rates next year, one corner of the bond market is warning of the risk of deflation. The difference in yields between Treasury two-year notes and ... and more »
  • 12:19 PM » CFPB soliciting suggestions for its amicus brief program
    Published Thu, Dec 18 2014 12:19 PM by www.cfpbmonitor.com
    Alan S. Kaplinsky The Consumer Law & Policy Blog has reproduced a copy of a letter sent yesterday by the CFPB seeking suggested cases for the CFPB’s amicus brief program. The letter indicates that the amicus program has so far filed 14 amicus briefs in the federal courts of appeals and has worked closely with the Solicitor General’s Office... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 12:15 PM » Bernanke Backs Pimco Forecast for Economic Acceleration - Bloomberg
    Published Thu, Dec 18 2014 12:15 PM by Bloomberg
    Bernanke Backs Pimco Forecast for Economic Acceleration Bloomberg Pacific Investment Management Co. tapped former Federal Reserve Chairman Ben S. Bernanke to help formulate an outlook for 2015 that projects higher growth, a stronger dollar and muted inflation. The manager of the world's largest bond mutual fund said ...
  • 11:27 AM » 5 Ways America's Newest Landlords Can Win the Public's Trust
    Published Thu, Dec 18 2014 11:27 AM by www.americanprogress.org
    Single-family rental companies can build trust by treating tenants fairly and investing in the communities surrounding their rental homes.
    Click Here to Read the Full Article

    Source: www.americanprogress.org
  • 11:26 AM » The Wall Street Journal: Wells Fargo fined for anti-money-laundering ‘failures'
    Published Thu, Dec 18 2014 11:26 AM by Market Watch
    Wells Fargo is fined by the Financial Industry Regulatory Authority, or "Finra," for its anti-money-laundering failures.
  • 10:25 AM » FDIC Publication Focuses on Interest Rate Risk
    Published Thu, Dec 18 2014 10:25 AM by content.govdelivery.com
    Press Release FDIC Publication Focuses on Interest Rate Risk FOR IMMEDIATE RELEASE December 18, 2014 Media Contact: David Barr (202) 898-6992 Email: dbarr@fdic.gov The Winter 2014 issue of Supervisory Insights , which was released today, looks at key aspects of interest rate risk (IRR) management, including the implementation of effective governance processes, the development of key assumptions for analyzing IRR, the development of an in-house independent review of IRR management systems, and what to expect during an IRR review. "Banks need to be prepared for a period of increasing interest rates," stated Doreen R. Eberley, Director, Division of Risk Management Supervision. "The articles in this issue of Supervisory Insights , which were prepared by FDIC field examiners who specialize in IRR reviews at community banks, can help banks identify the potential risks and take steps to mitigate the risks where needed." "Effective Governance Processes for Managing Interest Rate Risk" discusses supervisory expectations for a community bank's IRR governance process, identifies potential risks associated with a period of increasing interest rates, and discusses approaches for mitigating IRR as needed. "Developing the Key Assumptions for Analysis of Interest Rate Risk" describes common sense approaches for developing the assumptions necessary to analyze interest rate sensitivity in the current environment. "Developing an In-House Independent Review of Interest Rate Risk Management Systems" describes ways that smaller institutions may be able to effectively and economically perform an in-house IRR independent review. Finally, "What to Expect During an Interest Rate Risk Review" describes what examiners focus on during an IRR review, supervisory expectations with respect to IRR, and communication with the FDIC during an examination. Supervisory Insights provides a forum for discussing how bank regulation and policy are...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 10:22 AM » Mortgage Rates Find New Lows for 2014
    Published Thu, Dec 18 2014 10:22 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Find New Lows for 2014
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:41 AM » News Release - Economic Growth Ends Year With a Slower ...
    Published Thu, Dec 18 2014 9:41 AM by Fannie Mae
    Economic Growth Ends Year With a Slower Q4, but Poised to Strengthen in 2015.
  • 9:37 AM » Greystone Closes First Two Freddie Mac Small Balance Multifamily Loans
    Published Thu, Dec 18 2014 9:37 AM by freddiemac.mwnewsroom.com
    Greystone Closes First Two Freddie Mac Small Balance Multifamily Loans
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:42 AM » Wells Fargo Rides Retail Deposits to Be Most-Valuable Bank
    Published Thu, Dec 18 2014 8:42 AM by Bloomberg
    Wells Fargo Rides Retail Deposits to Be Most-Valuable Bank Bloomberg Behind Wells Fargo & Co. (WFC)'s ascent to the world's most valuable bank lies a cheap and reliable source of funds favored by regulators and less popular with its largest rivals: retail bank deposits. Wells Fargo gets 78 percent of its funding from deposits, ... and more »
  • 8:42 AM » Fewer Americans than expected file for benefits
    Published Thu, Dec 18 2014 8:42 AM by CNBC
    The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market continued to strengthen.
  • 8:38 AM » When a Mortgage Hinges on Home Values
    Published Thu, Dec 18 2014 8:38 AM by WSJ
    A home appraisal that comes in low can reduce the amount a home-buyer can borrow for a mortgage; why the loan-to-value ratio matters.
  • 8:37 AM » Ocwen Said to Have Stalled Home Sales by Underwater Borrowers - Bloomberg
    Published Thu, Dec 18 2014 8:37 AM by Bloomberg
    Ocwen Said to Have Stalled Home Sales by Underwater Borrowers Bloomberg Ocwen Financial Corp. is being examined over whether it improperly stalled short sales by borrowers who owe more than their homes are worth, according to two people briefed on the case, as troubles deepen for the mortgage servicer whose stock has ...
  • Wed, Dec 17 2014
  • 11:21 PM » This country is red hot for real-estate investors
    Published Wed, Dec 17 2014 11:21 PM by CNBC
    The idyllic islands of the Maldives are receiving a lot of attention from wealthy real-estate entrepreneurs, property investment firms told CNBC.
  • 10:53 PM » Draghi Counts Cost of Outflanking ECB's Home Nation in QE Battle - Bloomberg
    Published Wed, Dec 17 2014 10:53 PM by Bloomberg
    Draghi Counts Cost of Outflanking ECB's Home Nation in QE Battle Bloomberg As Mario Draghi prepares to push the European Central Bank into quantitative easing, he's counting the cost of alienating its home nation. With the ECB president signaling that he'll override German-led concerns on government bond purchases if needed, ... and more »
  • 10:33 PM » Cost of servicing delinquent mortgages is holding back credit access for many borrowers
    Published Wed, Dec 17 2014 10:33 PM by Google News
    This post originally appeared on HousingWire. Anyone following the public discourse about the mortgage market knows that lending is overly tight right now. And those who follow the issue closely understand that a primary driver of this tightness is uncertainty over how Fannie Mae, Freddie Mac and the Federal Housing Administration enforce their underwriting rules. What most […]
  • 10:33 PM » Zillow: Negative Equity declines further in Q3 2014, "Down by Almost Half Since 2012 Peak"
    Published Wed, Dec 17 2014 10:33 PM by Calculated Risk Blog
    From Zillow: Negative Equity Down By Almost Half Since 2012 Peak, But There's Still a Ways to Go The national negative equity rate continued to decline in the third quarter, falling to 16.9 percent , according to the third quarter Zillow Negative Equity Report, down almost half from its 31.4 percent peak in the first quarter of 2012. More than 7 million previously underwater homeowners, those homeowners owing more on their home than it is worth, have been freed from negative equity since its peak. Negative equity fell from 21 percent in the third quarter of 2013 and 17.9 percent in the second quarter. emphasis added The following graph from Zillow shows negative equity by Loan-to-Value (LTV) in Q3 2014. Click on graph for larger image. From Zillow: Nationally, of the homeowners who are underwater, around half are only underwater by 20 percent or less, which is to say they are close to escaping negative equity. (Figure 3) On the other hand, 1.9 percent of owners with a mortgage remain deeply underwater, owing at least twice what their home is worth. Almost half of the borrowers with negative equity have a LTV of 100% to 120% (8.2% in Q3 2014). Most of these borrowers are current on their mortgages - and they have probably either refinanced with HARP or their loans are well seasoned (most of these properties were purchased in the 2004 through 2006 period, so borrowers have been current for eight to ten years or so). In a few years, these borrowers will have positive equity. The key concern is all those borrowers with LTVs above 140% (about 5.2% of properties with a mortgage according to Zillow). It will take many years to return to positive equity ... and a large percentage of these properties will eventually be distressed sales (short sales or foreclosures). Note: CoreLogic will release their Q3 negative equity report in the next couple of weeks. For Q2, CoreLogic reported there were 5.3 million properties with negative equity, and that will be down further in Q3...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:31 PM » Economists React to the Fed's December Decision: ‘What Was The Point!'
    Published Wed, Dec 17 2014 4:31 PM by WSJ
    Here's how economists reacted to the Fed's statement, new economic projections and Chairwoman Janet Yellen's press conference.
  • 4:30 PM » Resolving Residential Mortgage Distress: Time to Modify?
    Published Wed, Dec 17 2014 4:30 PM by IMF
    Working Paper No. 14/226
  • 4:30 PM » BofA ‘Hustle' whistleblower earns $57 million payout in second case
    Published Wed, Dec 17 2014 4:30 PM by Reuters
    By Aruna Viswanatha and Nate Raymond (Reuters) – A former executive of Countrywide Financial, who led a jury to find parent company Bank of America Corp liable for fraud over shoddy mortgages the company sold, will receive a $57 million award for another whistleblower case against his former employer, according to federal court documents. Edward […]
  • 3:37 PM » Ex-Countrywide exec to receive more than $57 million for whistle blowing: NYT
    Published Wed, Dec 17 2014 3:37 PM by Market Watch
    WASHINGTON (MarketWatch) -- Edward O'Donnell, a former executive at Countrywide Financial who helped government prosecutors, is receiving more than $57 million for whistle blowing over bad mortgages, according to a Wednesday story in The New York Times. O'Donnell helped prosecutors' case against Bank of America that led to a $16.65 billion settlement. Bank of America bought Countrywide in 2008.
  • 3:36 PM » BofA Sued by Credit Union Regulator for MBS Oversight - Bloomberg
    Published Wed, Dec 17 2014 3:36 PM by Bloomberg
    BofA Sued by Credit Union Regulator for MBS Oversight Bloomberg Bank of America Corp. and US Bancorp (USB) were sued by the agency that oversees federal credit unions, which claimed the banks failed as trustees over securities backed by home mortgages that defaulted after the 2008 credit crisis. The lawsuit, filed in ... and more »
  • 2:41 PM » Fed confident in U.S. growth outlook, opens door wider to rate hike
    Published Wed, Dec 17 2014 2:41 PM by Reuters
    WASHINGTON, Dec 17 (Reuters) - The Federal Reserve on Wednesday offered a strong signal that it was on track to raise interest rates sometime next year, dropping a pledge to keep them near zero for a "considerable time" in a show of confidence in the U.S. economy.
  • 2:40 PM » Fannie Mae: Mortgage Lender Sentiment Survey Results Show Increased Concerns with Mortgage Demand Growth
    Published Wed, Dec 17 2014 2:40 PM by Fannie Mae
    Mortgage Lender Sentiment Survey Results Show Increased Concerns with Mortgage Demand Growth.
  • 2:38 PM » Here's what changed in new Fed statement
    Published Wed, Dec 17 2014 2:38 PM by CNBC
    This is a comparison of today's FOMC statement with the one issued after the Fed's previous policy-making meeting on October 29.
  • 2:38 PM » Fed leaves 'considerable time' statement
    Published Wed, Dec 17 2014 2:38 PM by CNBC
    The Federal Open Market Committee was expected to keep its target funds rate near zero, as all eyes look toward a possible rate hike next year.
  • 2:38 PM » What bothers me the most in Fed statement: Insana
    Published Wed, Dec 17 2014 2:38 PM by CNBC
    Here's what bothers Ron Insana about the Fed's statement - its last of 2014.
  • 1:27 PM » Home builder's new sweet spot: the 55-plus crowd
    Published Wed, Dec 17 2014 1:27 PM by CNBC
    Pulte Homes is rushing to build more so-called active adult communities catering to baby boomers, many who still work full time.
  • 11:56 AM » Five Reasons Traders Say the Fed Has Much to Learn From Markets - Bloomberg
    Published Wed, Dec 17 2014 11:56 AM by Bloomberg
    Five Reasons Traders Say the Fed Has Much to Learn From Markets Bloomberg Bond traders have seen wrong forecasts for interest rates and the economy from the Federal Reserve for years. So, it's little wonder they're discounting central bankers' talk of higher borrowing costs in 2015 as oil plunges, roiling markets worldwide and ... and more »
  • 11:54 AM » Congress votes unanimously to extend SCRA one-year foreclosure protection period
    Published Wed, Dec 17 2014 11:54 AM by www.cfpbmonitor.com
    Anthony C. Kaye Congress has unanimously approved legislation to extend until January 2016 a provision of the Servicemembers Civil Relief Act (SCRA) that prohibits foreclosing on a servicemember's house for one year following the servicemember's return from active duty. The CFPB has made SCRA compliance a priority issue. Senator Sheldon Whitehouse proposed S.2404, known as the Foreclosure Relief... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:54 AM » Ackman Says Pershing 'Meaningfully' Built Fannie-Freddie Bet - Bloomberg
    Published Wed, Dec 17 2014 11:54 AM by Bloomberg
    Ackman Says Pershing 'Meaningfully' Built Fannie-Freddie Bet Bloomberg Bill Ackman, founder of Pershing Square Capital Management, said he's added "meaningfully" to his bets on U.S. mortgage companies Fannie Mae and Freddie Mac in the past two weeks. His New York-based hedge fund firm is wagering that Congress or the ... and more »
  • 10:35 AM » AIA: Architecture Billings Index shows slower expansion in November
    Published Wed, Dec 17 2014 10:35 AM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From AIA: Demand Softens, but Outlook for Architecture Billings Index Remains Positive Buoyed by sustained demand for apartments and condominiums, coupled with state and local governments moving ahead with delayed public projects, the Architecture Billings Index (ABI) has been positive for seven consecutive months. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI score was 50.9, down from a mark of 53.7 in October . This score reflects a slight increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.8, following a mark of 62.7 the previous month. The AIA has added a new indicator measuring the trends in new design contracts at architecture firms that can provide a strong signal of the direction of future architecture billings. The score for design contracts in November was 54.9. " Demand for design services has slowed somewhat from the torrid pace of the summer, but all project sectors are seeing at least modest growth ," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "Architecture firms are expecting solid mid-single digit gains in revenue for 2014, but heading into 2015, they are concerned with finding quality contractors for projects, coping with volatile construction materials costs and with finding qualified architecture staff for their firms." • Regional averages: South (57.9), West (52.7), Midwest (49.8), Northeast (46.7) [three month average] emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 50.9 in November, down from 53.7 in October. Anything above 50 indicates expansion in demand for architects'...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:35 AM » Investors who ignore Treasury's warning will pay the price
    Published Wed, Dec 17 2014 10:35 AM by Market Watch
    On Dec. 2, the U.S. Treasury issued a warning that few paid attention to, suggesting that a possible 2015 rate hike and the lack of continued stimulus will lend itself to much higher volatility through the end of the year.
1 2 3 4 5 Next > ... Last »
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 3.88%
  • |
  • 15 Yr FRM 3.14%
  • |
  • Jumbo 30 Year Fixed 3.75%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-00)
  • |
  • 30YR FNMA 5.0 110-10 (-0-05)
  • |
  • 30YR FNMA 5.5 111-25 (0-01)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%