Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
188,625
# of Subscribers
Micro News Archives
Use the calendar to view Micro News posts from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Massachusetts
State Name underscore: Massachusetts
State Name dash: Massachusetts
State Name lower underscore: massachusetts
State Name lower dash: massachusetts
State Name lower: massachusetts
State Abbreviation: MA
State Abbreviation Lower: ma
You are viewing Micro News from Monday, Dec 5, 2011 - View all recent Micro News
  • 12/5/11
    MBS shot well over their highs in recent moments, now...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/5/11
    Fed's Evans: Fed Must Act Now to Boost Economy
    (Reuters) - "There is simply too much at stake for us to be excessively complacent while the economy is in such dire shape," Chicago Fed President Charles Evans said in remarks prepared for delivery to the Ball State University Center for Business and Economic Research. "It is imperative to undertake action now."

    Evans, known for his dovish views on inflation, was the only Fed policy maker to dissent last month on the decision to leave monetary policy unchanged. Then, as today, he called for further easing to boost the recovery. The U.S. central bank has "clearly" missed on its mandate to foster maximum employment and is in danger of undershooting its 2 percent inflation goal for the foreseeable future, Evans said.

    Without new monetary stimulus, Evans warned, the U.S. could become mired in a 1930s-like Depression, impairing economic growth permanently as the skills of the unemployed atrophy and businesses defer new investment. To avoid such a scenario, Evans argued, the Fed should promise to keep interest rates near zero as long as unemployment remains "somewhat above its natural rate," so long as inflation does not threaten to rise above 3 percent. While 3-percent inflation may sound "shocking," he said, research shows that central banks should fight liquidity traps by allowing inflation to run above target over the medium term.

    Since high U.S. unemployment is probably due to the effect of a liquidity trap rather than a structural shift in the economy, Evans said, added monetary stimulus is justified. And if, he said, it turns out that the real problem was indeed structural and easier policy sparks a rise in inflation, the Fed can simply tighten policy before it threatens to reach the hyperinflationary levels of the 1970s.
    Category: MBS, FED
    Share:   
  • 12/5/11
    We've talked over the past few weeks about the possibility...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 12/5/11
    Federal Reserve Board Announces Appointment of Chairs for 12 Federal Reserve Banks
    The Federal Reserve Board on Monday announced the designation of the chairs and deputy chairs of the 12 Federal Reserve Banks for 2012.

    Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as chair and a second as deputy chair.

    The names of the chairs and deputy chairs designated by the Board for 2012 can found here.
    Category: INDUSTRY
    Share:   
  • 12/5/11
    MBA Announces Completion of MISMO Transition
    The Mortgage Bankers Association (MBA) today announced it has completed the transition, announced in September, and will resume support for the Mortgage Industry Standards Maintenance Organization, Inc. (MISMOŽ). With the successful transition, MISMO will now focus efforts on regulatory implementation and advocating for broader adoption of data standards throughout the industry.

    "MBA supports greater efficiency and lower costs throughout the industry by advocating for broad adoption of industry consensus standards developed by MISMO. We are actively engaging both regulators and industry in this effort," said MBA President and CEO David H. Stevens. "MBA will also provide educational opportunities aimed at helping industry and government better understand and implement MISMO standards. Standardization and transparency are critical to the return of investor confidence and liquidity in the mortgage marketplace, and MISMO has a crucial role to play. I would recommend that MBA members become MISMO subscribers in order to help guide this effort."
    Category: INDUSTRY
    Share:   
  • 12/5/11
    ECON: Factory Orders Dip 0.4 Percent in October
    (Reuters) - New orders for factory goods fell in October for the second straight month, suggesting a possible softening in the manufacturing sector, which has supported the economic recovery.

    The Commerce Department said on Monday orders for manufactured goods decreased 0.4 percent after a 0.1 percent drop in September.

    Economists had forecast orders would fall 0.3 percent after a previously reported 0.3 percent increase in September.

    The report showed orders excluding transportation rose 0.2 percent.

    Orders for transportation equipment dipped 5.1 percent in October as demand for civilian aircraft dropped 16.8 percent. Orders for motor vehicle and parts rose 2.3 percent.

    The department said orders for durable goods, manufactured products expected to last three years or more, fell 0.5 percent, a smaller decline than initially estimated. Durable goods orders excluding transportation were up a revised 1.1 percent, stronger than the initial report in November. Orders for non-defense capital goods excluding aircraft fell 0.8 percent, a more modest decline than originally reported.
    Category: MBS, ECON
    Share:   
  • 12/5/11
    ECON: ISM Non-Manufacturing Business Activity Higher, Index Lower
    The NMI registered 52 percent in November, 0.9 percentage point lower than the 52.9 percent registered in October, and indicating continued growth at a slightly slower rate in the non-manufacturing sector. This is the lowest reading since January 2010, when the index registered 50.7 percent.

    The Non-Manufacturing Business Activity Index increased 2.4 percentage points to 56.2 percent, reflecting growth for the 28th consecutive month. The New Orders Index increased by 0.6 percentage point to 53 percent. The Employment Index decreased 4.4 percentage points to 48.9 percent, indicating contraction in employment after one month of growth.

    The Prices Index increased 5.4 percentage points to 62.5 percent, indicating prices increased at a faster rate in November when compared to October. According to the NMI, 12 non-manufacturing industries reported growth in November. Respondents’ comments for the most part project continued slow, incremental growth. There still remains a strong concern about lagging employment.”
    Category: MBS, ECON
    Share:   
  • 12/5/11
    HUD: Two New FHA Mortgagee Letters
    Mortgagee Letter 2011-39
    Subject: Federal Housing Administration Maximum Loan Limits Effective October 1, 2011 through December 31, 2012

    Purpose: This Mortgagee Letter provides: Notice of the comprehensive update to the Federal Housing Administration’s (FHA) single-family loan limits, issued under the authority of H.R. 2112, the Consolidated and Further Continuing Appropriations Act, 2012, Public Law 112-55. These limits apply to Forward mortgages insured under the following sections of the National Housing Act (NHA): 203(b) (FHA’s basic 1-4 family mortgage, including condominiums), 203(h) (mortgages for disaster victims), and 203(k) (rehabilitation mortgage insurance)…

    MORTGAGEE LETTER 2011-38
    SUBJECT: Secondary Financing Eligibility Requirements for IRC Section 115 Nonprofits Rescission of Mortgagee Letter 2009-38

    Purpose: Mortgagee Letter 2009-38 announced that the Department of Housing and Urban Development allowed, on a temporary basis, nonprofit instrumentalities of government eligible for approval by the Federal Housing Administration (FHA) to include entities whose income is excluded from Federal taxation under section115 of the Internal Revenue Code of 1986 (IRC) (Section 115 nonprofit instrumentalities of government). Eligible Section 115 nonprofit instrumentalities of government were placed on the FHA Nonprofit Organization Roster (Roster) and allowed to participate in single-family housing programs as providers of secondary financing...
    Category: MBS, INDUSTRY
    Share:   
  • 12/5/11
    (Reuters) - European stocks rose early on Monday, adding...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 12/5/11
    Dataquick: Phoenix Home Sales Up 15.2% Over Last Year
    Phoenix-area home sales were higher than a year earlier for the sixth month in a row in October. Sub-$100,000 deals rose 22 percent year-over-year, mid-market activity fell slightly and high-end sales posted a modest gain. Home price indicators were mixed, while the share of sales to absentee buyers rose and the portion involving distressed properties edged lower, a real estate information service reported.

    A total of 8,051 new and resale houses and condos closed escrow during October in the combined Maricopa-Pinal counties metro area. That was down 7.0 percent from the month before but up 15.2 percent from a year earlier, according to San Diego-based DataQuick, which tracks real estate trends nationally via public property records.
    Category: INDUSTRY
    Share:   
  • 12/5/11
    In 1984, the world had no idea that the "wax-on, wax...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/5/11
    Federal Reserve Board Announces Appointment of Chairs for 12 Federal Reserve Banks
    The Federal Reserve Board on Monday announced the designation of the chairs and deputy chairs of the 12 Federal Reserve Banks for 2012.

    Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as chair and a second as deputy chair.

    The names of the chairs and deputy chairs designated by the Board for 2012 can found here.
    Category: INDUSTRY
    Share:   
  • 12/5/11
    MBA Announces Completion of MISMO Transition
    The Mortgage Bankers Association (MBA) today announced it has completed the transition, announced in September, and will resume support for the Mortgage Industry Standards Maintenance Organization, Inc. (MISMOŽ). With the successful transition, MISMO will now focus efforts on regulatory implementation and advocating for broader adoption of data standards throughout the industry.

    "MBA supports greater efficiency and lower costs throughout the industry by advocating for broad adoption of industry consensus standards developed by MISMO. We are actively engaging both regulators and industry in this effort," said MBA President and CEO David H. Stevens. "MBA will also provide educational opportunities aimed at helping industry and government better understand and implement MISMO standards. Standardization and transparency are critical to the return of investor confidence and liquidity in the mortgage marketplace, and MISMO has a crucial role to play. I would recommend that MBA members become MISMO subscribers in order to help guide this effort."
    Category: INDUSTRY
    Share:   
  • 12/5/11
    HUD: Two New FHA Mortgagee Letters
    Mortgagee Letter 2011-39
    Subject: Federal Housing Administration Maximum Loan Limits Effective October 1, 2011 through December 31, 2012

    Purpose: This Mortgagee Letter provides: Notice of the comprehensive update to the Federal Housing Administration’s (FHA) single-family loan limits, issued under the authority of H.R. 2112, the Consolidated and Further Continuing Appropriations Act, 2012, Public Law 112-55. These limits apply to Forward mortgages insured under the following sections of the National Housing Act (NHA): 203(b) (FHA’s basic 1-4 family mortgage, including condominiums), 203(h) (mortgages for disaster victims), and 203(k) (rehabilitation mortgage insurance)…

    MORTGAGEE LETTER 2011-38
    SUBJECT: Secondary Financing Eligibility Requirements for IRC Section 115 Nonprofits Rescission of Mortgagee Letter 2009-38

    Purpose: Mortgagee Letter 2009-38 announced that the Department of Housing and Urban Development allowed, on a temporary basis, nonprofit instrumentalities of government eligible for approval by the Federal Housing Administration (FHA) to include entities whose income is excluded from Federal taxation under section115 of the Internal Revenue Code of 1986 (IRC) (Section 115 nonprofit instrumentalities of government). Eligible Section 115 nonprofit instrumentalities of government were placed on the FHA Nonprofit Organization Roster (Roster) and allowed to participate in single-family housing programs as providers of secondary financing...
    Category: MBS, INDUSTRY
    Share:   
  • 12/5/11
    Dataquick: Phoenix Home Sales Up 15.2% Over Last Year
    Phoenix-area home sales were higher than a year earlier for the sixth month in a row in October. Sub-$100,000 deals rose 22 percent year-over-year, mid-market activity fell slightly and high-end sales posted a modest gain. Home price indicators were mixed, while the share of sales to absentee buyers rose and the portion involving distressed properties edged lower, a real estate information service reported.

    A total of 8,051 new and resale houses and condos closed escrow during October in the combined Maricopa-Pinal counties metro area. That was down 7.0 percent from the month before but up 15.2 percent from a year earlier, according to San Diego-based DataQuick, which tracks real estate trends nationally via public property records.
    Category: INDUSTRY
    Share:   
MBS Micro News updates are a service provided to MBSonMND subscribers only.
Learn More | Start a Free Trial | Open the Dashboard
  • 12/5/11
    MBS shot well over their highs in recent moments, now...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/5/11
    (Reuters) - "There is simply too much at stake for us to be excessively complacent while the economy is in such dire shape," Chicago Fed President Charles Evans said in remarks prepared for delivery to the Ball State University Center for Business and Economic Research. "It is imperative to undertake action now."

    Evans, known for his dovish views on inflation, was the only Fed policy maker to dissent last month on the decision to leave monetary policy unchanged. Then, as today, he called for further easing to boost the recovery. The U.S. central bank has "clearly" missed on its mandate to foster maximum employment and is in danger of undershooting its 2 percent inflation goal for the foreseeable future, Evans said.

    Without new monetary stimulus, Evans warned, the U.S. could become mired in a 1930s-like Depression, impairing economic growth permanently as the skills of the unemployed atrophy and businesses defer new investment. To avoid such a scenario, Evans argued, the Fed should promise to keep interest rates near zero as long as unemployment remains "somewhat above its natural rate," so long as inflation does not threaten to rise above 3 percent. While 3-percent inflation may sound "shocking," he said, research shows that central banks should fight liquidity traps by allowing inflation to run above target over the medium term.

    Since high U.S. unemployment is probably due to the effect of a liquidity trap rather than a structural shift in the economy, Evans said, added monetary stimulus is justified. And if, he said, it turns out that the real problem was indeed structural and easier policy sparks a rise in inflation, the Fed can simply tighten policy before it threatens to reach the hyperinflationary levels of the 1970s.
    Category: MBS, FED
    Share:   
  • 12/5/11
    We've talked over the past few weeks about the possibility...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 12/5/11
    (Reuters) - New orders for factory goods fell in October for the second straight month, suggesting a possible softening in the manufacturing sector, which has supported the economic recovery.

    The Commerce Department said on Monday orders for manufactured goods decreased 0.4 percent after a 0.1 percent drop in September.

    Economists had forecast orders would fall 0.3 percent after a previously reported 0.3 percent increase in September.

    The report showed orders excluding transportation rose 0.2 percent.

    Orders for transportation equipment dipped 5.1 percent in October as demand for civilian aircraft dropped 16.8 percent. Orders for motor vehicle and parts rose 2.3 percent.

    The department said orders for durable goods, manufactured products expected to last three years or more, fell 0.5 percent, a smaller decline than initially estimated. Durable goods orders excluding transportation were up a revised 1.1 percent, stronger than the initial report in November. Orders for non-defense capital goods excluding aircraft fell 0.8 percent, a more modest decline than originally reported.
    Category: MBS, ECON
    Share:   
  • 12/5/11
    The NMI registered 52 percent in November, 0.9 percentage point lower than the 52.9 percent registered in October, and indicating continued growth at a slightly slower rate in the non-manufacturing sector. This is the lowest reading since January 2010, when the index registered 50.7 percent.

    The Non-Manufacturing Business Activity Index increased 2.4 percentage points to 56.2 percent, reflecting growth for the 28th consecutive month. The New Orders Index increased by 0.6 percentage point to 53 percent. The Employment Index decreased 4.4 percentage points to 48.9 percent, indicating contraction in employment after one month of growth.

    The Prices Index increased 5.4 percentage points to 62.5 percent, indicating prices increased at a faster rate in November when compared to October. According to the NMI, 12 non-manufacturing industries reported growth in November. Respondents’ comments for the most part project continued slow, incremental growth. There still remains a strong concern about lagging employment.”
    Category: MBS, ECON
    Share:   
  • 12/5/11
    Mortgagee Letter 2011-39
    Subject: Federal Housing Administration Maximum Loan Limits Effective October 1, 2011 through December 31, 2012

    Purpose: This Mortgagee Letter provides: Notice of the comprehensive update to the Federal Housing Administration’s (FHA) single-family loan limits, issued under the authority of H.R. 2112, the Consolidated and Further Continuing Appropriations Act, 2012, Public Law 112-55. These limits apply to Forward mortgages insured under the following sections of the National Housing Act (NHA): 203(b) (FHA’s basic 1-4 family mortgage, including condominiums), 203(h) (mortgages for disaster victims), and 203(k) (rehabilitation mortgage insurance)…

    MORTGAGEE LETTER 2011-38
    SUBJECT: Secondary Financing Eligibility Requirements for IRC Section 115 Nonprofits Rescission of Mortgagee Letter 2009-38

    Purpose: Mortgagee Letter 2009-38 announced that the Department of Housing and Urban Development allowed, on a temporary basis, nonprofit instrumentalities of government eligible for approval by the Federal Housing Administration (FHA) to include entities whose income is excluded from Federal taxation under section115 of the Internal Revenue Code of 1986 (IRC) (Section 115 nonprofit instrumentalities of government). Eligible Section 115 nonprofit instrumentalities of government were placed on the FHA Nonprofit Organization Roster (Roster) and allowed to participate in single-family housing programs as providers of secondary financing...
    Category: MBS, INDUSTRY
    Share:   
  • 12/5/11
    (Reuters) - European stocks rose early on Monday, adding...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 12/5/11
    In 1984, the world had no idea that the "wax-on, wax...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/5/11
    ECON: Factory Orders Dip 0.4 Percent in October
    (Reuters) - New orders for factory goods fell in October for the second straight month, suggesting a possible softening in the manufacturing sector, which has supported the economic recovery.

    The Commerce Department said on Monday orders for manufactured goods decreased 0.4 percent after a 0.1 percent drop in September.

    Economists had forecast orders would fall 0.3 percent after a previously reported 0.3 percent increase in September.

    The report showed orders excluding transportation rose 0.2 percent.

    Orders for transportation equipment dipped 5.1 percent in October as demand for civilian aircraft dropped 16.8 percent. Orders for motor vehicle and parts rose 2.3 percent.

    The department said orders for durable goods, manufactured products expected to last three years or more, fell 0.5 percent, a smaller decline than initially estimated. Durable goods orders excluding transportation were up a revised 1.1 percent, stronger than the initial report in November. Orders for non-defense capital goods excluding aircraft fell 0.8 percent, a more modest decline than originally reported.
    Category: MBS, ECON
    Share:   
  • 12/5/11
    ECON: ISM Non-Manufacturing Business Activity Higher, Index Lower
    The NMI registered 52 percent in November, 0.9 percentage point lower than the 52.9 percent registered in October, and indicating continued growth at a slightly slower rate in the non-manufacturing sector. This is the lowest reading since January 2010, when the index registered 50.7 percent.

    The Non-Manufacturing Business Activity Index increased 2.4 percentage points to 56.2 percent, reflecting growth for the 28th consecutive month. The New Orders Index increased by 0.6 percentage point to 53 percent. The Employment Index decreased 4.4 percentage points to 48.9 percent, indicating contraction in employment after one month of growth.

    The Prices Index increased 5.4 percentage points to 62.5 percent, indicating prices increased at a faster rate in November when compared to October. According to the NMI, 12 non-manufacturing industries reported growth in November. Respondents’ comments for the most part project continued slow, incremental growth. There still remains a strong concern about lagging employment.”
    Category: MBS, ECON
    Share:   
  • 12/5/11
    Fed's Evans: Fed Must Act Now to Boost Economy
    (Reuters) - "There is simply too much at stake for us to be excessively complacent while the economy is in such dire shape," Chicago Fed President Charles Evans said in remarks prepared for delivery to the Ball State University Center for Business and Economic Research. "It is imperative to undertake action now."

    Evans, known for his dovish views on inflation, was the only Fed policy maker to dissent last month on the decision to leave monetary policy unchanged. Then, as today, he called for further easing to boost the recovery. The U.S. central bank has "clearly" missed on its mandate to foster maximum employment and is in danger of undershooting its 2 percent inflation goal for the foreseeable future, Evans said.

    Without new monetary stimulus, Evans warned, the U.S. could become mired in a 1930s-like Depression, impairing economic growth permanently as the skills of the unemployed atrophy and businesses defer new investment. To avoid such a scenario, Evans argued, the Fed should promise to keep interest rates near zero as long as unemployment remains "somewhat above its natural rate," so long as inflation does not threaten to rise above 3 percent. While 3-percent inflation may sound "shocking," he said, research shows that central banks should fight liquidity traps by allowing inflation to run above target over the medium term.

    Since high U.S. unemployment is probably due to the effect of a liquidity trap rather than a structural shift in the economy, Evans said, added monetary stimulus is justified. And if, he said, it turns out that the real problem was indeed structural and easier policy sparks a rise in inflation, the Fed can simply tighten policy before it threatens to reach the hyperinflationary levels of the 1970s.
    Category: MBS, FED
    Share:   
 
No Micro News Posts Here.

Options:
 
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 3.00%
  • |
  • 15 Yr FRM 2.56%
  • |
  • Jumbo 30 Year Fixed 3.36%
MBS Prices:
  • 30YR FNMA 4.5 108-05 (0-01)
  • |
  • 30YR FNMA 5.0 109-26 (0-01)
  • |
  • 30YR FNMA 5.5 111-02 (0-10)
Recent Housing Data:
  • Mortgage Apps 4.56%
  • |
  • Refinance Index 8.23%
  • |
  • Purchase Index -1.53%