http://www.mortgagenewsdaily.com/micro_news/enCommunityServer 2008 SP2 (Build: 31106.96)http://www.mortgagenewsdaily.com/micro_news/248387.aspxWed, 22 Feb 2012 19:42:43 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248387Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248387http://www.mortgagenewsdaily.com/micro_news/248387.aspx#commentsWe say "additional positive reprices" both in the sense that additional reprices have been reported since the last update and that there's ongoing potential for additional positive reprices at current levels. This afternoon's strength coincides with some favorable developments in longer term technical levels, which we discussed in the latest MBS Commentary post. <br/><br/> "From a technical standpoint, the past few sessions have been a fairly gloomy scene for MBS and Treasuries--our two representatives from those camps being Fannie 3.5 30yr Fixed MBS and good old 10yr Treasury Notes. The technical gloominess should be fairly evident in the upper sections of each chart below. In short, both MBS and 10's had moved weaker beyond the limits of long-term trend channels and were at risk of breaking beyond horizontal levels as well. <br/><br/> For Fannie 3.5's, the first major break of a horizontal level at 103-10 was seen Friday on an intraday basis, but prices made it back by the end of the day. Yesterday's trading suggested the breakout more firmly as prices fell to the next major pivot around 103-00. It was (and still is) up to today's price action to reiterate or refute that move. With the current strength, prices are now in position to close at 103-10 or higher; a potentially good technical development for MBS. " <br/><br/> Read the full commentary here:<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248387.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248387/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248387" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248373.aspxWed, 22 Feb 2012 18:15:11 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248373Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248373http://www.mortgagenewsdaily.com/micro_news/248373.aspx#commentsA slightly weaker-than-average bid-to-cover was offset by high yields trading through screens by half a bp versus 1pm levels and 0.8 bps vs when-issued levels at 1:01pm just before results were released ("through screens" = auction's High Yield came in below the "when-issued" trading levels). <br/><br/> <ul> <li>Bid-to-cover : 2.89 vs 3.02 avg last 4</li> <li>High Yield: 0.900 pct</li> <li>1:00 pm WI: 0.905 pct</li> <li>Tail: 0.5 bps vs 1.05 bps avg last 4</li> </ul> Bond market reaction has been mostly uneventful, though is perhaps inching into slightly more negative territory. 10yr yields are up about 1bp since the suction, but with no discernible spike in volume and no indication of an impending sell-off. As expected, several lenders have repriced for the better given MBS relative ground-holding over 103-05 in Fannie 3.5 coupons. More may follow if those levels are held or improved upon.<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248373.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248373/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248373" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248365.aspxWed, 22 Feb 2012 17:36:17 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248365Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248365http://www.mortgagenewsdaily.com/micro_news/248365.aspx#commentsMBS are near their highs of the day having moved steadily higher since just after 9am this morning. Fannie 3.5's are up 9 ticks from 5pm yesterday at 103-08 and 10yr yields are down nearly 5 bps to 2.0121. <br/><br/> These levels in MBS are entering territory where some early-to-act lenders could be considering repricing for the better, but with the 5yr Note Auction not even half an hour away, the impetus to do so could be somewhat lessened. Reprices become more likely the longer current levels are held or improved upon, and especially if one or both of those factors remain in play after the auction. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248365.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248365/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248365" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248328.aspxWed, 22 Feb 2012 15:25:01 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248328Glenn Setzer0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248328http://www.mortgagenewsdaily.com/micro_news/248328.aspx#commentsThe areas designated major disaster areas by the Federal Emergency Management Agency (FEMA) in 2005 following Hurricanes Katrina and Rita continue to be so designated and to demonstrate significant revitalization and recovery needs. To continue to support community development, the FDIC, along with the other federal banking agencies, is extending CRA consideration for community development loans, investments, and services that help revitalize or stabilize those disaster areas through 2014. <br/><br/> Statement of Applicability to Institutions with Total Assets Less Than $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised banks and savings associations.<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248328.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248328/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248328" width="1" height="1">INDUSTRYhttp://www.mortgagenewsdaily.com/micro_news/248326.aspxWed, 22 Feb 2012 15:04:44 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248326Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248326http://www.mortgagenewsdaily.com/micro_news/248326.aspx#commentsExisting-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors®. <br/><br/> Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3 percent to a seasonally adjusted annual rate of 4.57 million in January from a downwardly revised 4.38 million-unit pace in December and are 0.7 percent above a spike to 4.54 million in January 2011. <br/><br/> Lawrence Yun, NAR chief economist, said strong gains in contract activity in recent months show buyers are responding to very favorable market conditions. “The uptrend in home sales is in line with all of the underlying fundamentals – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation and rising rents.” <br/><br/> Total housing inventory at the end of January fell 0.4 percent to 2.31 million existing homes available for sale, which represents a 6.1-month supply2 at the current sales pace, down from a 6.4-month supply in December. <br/><br/> “The broad inventory condition can be described as moving into a rough balance, not favoring buyers or sellers,” Yun said. “Foreclosure sales are moving swiftly with ready home buyers and investors competing in nearly all markets. A government proposal to turn bank-owned properties into rentals on a large scale does not appear to be needed at this time.” <br/><br/> Total unsold listed inventory has trended down from a record 4.04 million in July 2007, and is 20.6 percent below a year ago.<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248326.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248326/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248326" width="1" height="1">MBSECONINDUSTRYhttp://www.mortgagenewsdaily.com/micro_news/248323.aspxWed, 22 Feb 2012 14:24:15 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248323Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248323http://www.mortgagenewsdaily.com/micro_news/248323.aspx#commentsThere was a moderate amount of data and opinion in the overnight session, and if you were so inclined, a case could be made for connecting that data to the market movements. For instance, weak manufacturing numbers in Europe (particularly Germany) as well as plenty of chatter about the tenuousness of the Greek bailout are thought to have helped bond markets maintain some support levels and come into the domestic session at slightly better levels than yesterday. <br/><br/> While we wouldn't disagree that some measure of causality exists, it looks and feels more like one of these situations where the data simply "passed on an opportunity" to suggest markets do something different than the bigger considerations suggest. In short, we're looking at this morning in the simplest terms possible--i.e. not reading too much into the minor details as we feel like the bigger details are driving trade.<br/><br/> What are those "bigger details?" Naturally there's the evolving reaction to the Greek bailout. Seems like a lot of "yeah buts" floating around out there, and rightfully so. Those go a long way toward explaining why bond markets have weakened to a a certain point yesterday and seem to be holding inside that range so far today. But with no material counterpoints, it's not creating a whipsaw bounce in the other direction. The need to be in position for today's 5yr Note auction is also likely keeping a lid on the more pronounced desires for a bounce-back rally. <br/><br/> 10yr yields are currently 2.047 (as yet, unable to get back below the 2.045 pivot) and Fannie 3.5 MBS are 3 ticks improved at 103-03. The morning’s major economic report should prove to be a relative non-event: Existing Home Sales at 10am. More significant are the Fed’s long-end buyback concluding at 11am and the 5yr Note Auction at 1pm. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248323.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248323/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248323" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248318.aspxWed, 22 Feb 2012 13:46:29 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248318Glenn Setzer0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248318http://www.mortgagenewsdaily.com/micro_news/248318.aspx#commentsDavid H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement regarding the Federal Housing Finance Agency's (FHFA) proposal for next steps in its conservatorship of Fannie Mae and Freddie Mac, collectively, the Government Sponsored Enterprises (GSEs): <br/><br/> "MBA welcomes FHFA's proposal for the next phase of the conservatorship of Fannie Mae and Freddie Mac. We have been out front on GSE reform issues, and our Council on Ensuring Mortgage Liquidity outlined many of these same types of changes in its September 2009 proposal on the future of the government's role in the secondary mortgage market. <br/><br/> "We greatly appreciate the constructive nature of the proposals outlined by FHFA Acting Director Ed DeMarco to wind down Fannie and Freddie, only after taking steps to create a new infrastructure for the secondary mortgage market. Moving towards a single security, aligning servicing requirements and reducing the retained portfolios while avoiding a fire sale are all moves that we have supported. We look forward to working with policymakers, including FHFA, to refine the roles of the GSEs and to bring private capital back to the market. <br/><br/> "Uncertainty, wherever it exists, must be removed and a clear path forward must be laid out, in order for the housing market in this country to be strong and vibrant. This proposal that FHFA is putting forth shows a strong commitment to doing just that."<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248318.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248318/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248318" width="1" height="1">MBSINDUSTRYhttp://www.mortgagenewsdaily.com/micro_news/248219.aspxTue, 21 Feb 2012 21:08:07 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248219Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248219http://www.mortgagenewsdaily.com/micro_news/248219.aspx#commentsDespite earlier reprices for the worse, MBS had been able to hold sideways to slightly improved levels in concert with Treasuries starting around 1:30pm. But lower coupons, have once again broken to new lows with Fannie 3.5's down to 102-31 currently. This increases the risk of reprices for the worse among lenders who didn't get on board earlier and possibly even an additional reprice from those who did. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248219.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248219/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248219" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248199.aspxTue, 21 Feb 2012 19:14:51 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248199Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248199http://www.mortgagenewsdaily.com/micro_news/248199.aspx#comments(Reuters) - The Boston Federal Reserve unsuccessfully wanted in January to trim the rate the Federal Reserve charges banks for emergency loans, in part to align the so-called discount rate with the rate the Fed charges foreign central banks for dollar swaps. <br/><br/> Forecasts for modest growth ahead, continuing weakness in housing markets and high unemployment were also among reasons why the directors of the regional Fed bank sought a cut to 0.5 percent from the current level of 0.75 percent, according to minutes of meetings released on Tuesday by the Fed. <br/><br/> The Fed cut its principal policy rate, the fed funds rate, to near zero in December 2008. <br/><br/> While Boston sought a decrease the Kansas City Fed wanted to raise the discount rate to 1 percent, in part to restore the 1 percentage point spread between the fed funds rate and the discount rate that prevailed before the financial crisis that began in 2007. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248199.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248199/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248199" width="1" height="1">MBSFEDhttp://www.mortgagenewsdaily.com/micro_news/248175.aspxTue, 21 Feb 2012 17:12:10 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248175Glenn Setzer0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248175http://www.mortgagenewsdaily.com/micro_news/248175.aspx#commentsFederal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today sent to Congress a strategic plan for the next phase of the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). The plan builds on the Acting Director’s February 2010 letter to Congress on the conservatorships and sets forth objectives and steps FHFA is taking or will take to meet FHFA’s obligations as conservator. Fannie Mae and Freddie Mac were placed into conservatorships Sept. 6, 2008 and have since received more than $180 billion in taxpayer support. FHFA identifies three strategic goals for the next phase of the conservatorships: <br/><br/> -<b>Build</b>: Build a new infrastructure for the secondary mortgage market; <br/> -<b>Contract</b>: Gradually contract the Enterprises’ dominant presence in the marketplace while simplifying and shrinking their operations; and<br/> -<b>Maintain</b>: Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages.<br/><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248175.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248175/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248175" width="1" height="1">MBSINDUSTRYhttp://www.mortgagenewsdaily.com/micro_news/248173.aspxTue, 21 Feb 2012 17:09:43 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248173Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248173http://www.mortgagenewsdaily.com/micro_news/248173.aspx#commentsWhether or not you'll see a reprice for the worse here depends largely on the lender in question, but with Fannie 3.5's falling to 103-02--their lows of the day--it's an increasing risk. <br/><br/> 10yr yields have moved out of their sideways trend and broken higher, now up to 2.07%. Even so, some lenders will have priced late enough or conservatively enough to not be at much of a risk to reprice, while the traditionally faster-to-act crowd could be fairly close at currently price levels. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248173.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248173/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248173" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248159.aspxTue, 21 Feb 2012 16:16:45 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248159Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248159http://www.mortgagenewsdaily.com/micro_news/248159.aspx#commentsPlease be aware that day-over-day pricing is currently displaying incorrectly due to a trade that was reported yesterday while markets were closed. <br/><br/> This does not effect Treasuries, nor does it affect the accuracy of the currently reported pricing. The error is that the day-over-day change column for MBS will appear to be roughly 9/32nds higher than it should be. Using Fannie Mae 3.5 coupons for instance, Friday’s latest tick was at 103-10, but day-over-day changes are being calculated using 103-01. <br/><br/> We are working to resolve the issue. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248159.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248159/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248159" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248155.aspxTue, 21 Feb 2012 15:58:11 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248155Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248155http://www.mortgagenewsdaily.com/micro_news/248155.aspx#commentsTrading so far this morning is doing its best to appease two considerations. On the one hand, there's the fact that "something" happened with respect to the Greek bailout vote. On the other hand, "something" has happened with respect to Greek bailout votes in the past, yet we ended up back in the same can-kicking position. Markets are indeed skeptical about any sort of "solution" that comes from EU bailouts/negotiations/summits/meetings and now, conference calls! That much is evident in the support seen around 2.04 in 10yr yields. <br/><br/> But the sideways grind is accompanied by heavy volume today, which brings us to what's really on the table: a chance to hold our ground, or a change to shift higher in yield (lower in terms of MBS Prices) past some significant pivot points. 10yr yields, while not higher than 2/09, are still on the verge of breaking out of their long term trend-channel, which passes through 2.034 today. (Of course, they're currently higher than that, but it would take more than an intraday break to confirm). Current levels between 2.04 and 2.05 are also right on the the 50% retrace between the highs and the lows since August 2011. Just slightly higher it the 100 day moving average, which 10's haven't broken during the same time, but have tested on several occasions. <br/><br/> Long story short, testing of these technical trends + the thick volume suggests markets are essentially "deciding" how they feel about Greek bailout 2.0. MBS are holding up fairly well so far this morning, but will have to follow Treasuries to some extent if bigger shifts happen. That likely means a break below 103-00, but we'll cross that bridge when and if we come to it. For now, 103-06 means Fannie 3.5's are still holding the lower end of their long term trend channel. <div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248155.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248155/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248155" width="1" height="1">MBSalerthttp://www.mortgagenewsdaily.com/micro_news/248134.aspxTue, 21 Feb 2012 13:45:26 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248134Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248134http://www.mortgagenewsdaily.com/micro_news/248134.aspx#comments(Reuters) - Euro zone finance ministers sealed a 130-billion-euro ($172 billion) bailout for Greece Tuesday to avert a chaotic default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts. <br/><br/> After 13 hours of talks, ministers finalized measures to cut Greece's debt to 120.5 percent of gross domestic product by 2020, a fraction above the target, to secure its second rescue in less than two years and meet a bond repayment next month. <br/><br/> By agreeing that the European Central Bank would distribute its profits from bond buying and private bondholders would take more losses, the ministers reduced the debt to a point that should secure funding from the International Monetary Fund and help shore up the 17-country currency bloc. <br/><br/> But the austerity measures wrought from Greece are widely unpopular among the population and may hold difficulties for a country which is due to hold an election in April. Further protests could test politicians' commitment to cuts to wages, pensions and jobs.<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248134.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248134/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248134" width="1" height="1">MBShttp://www.mortgagenewsdaily.com/micro_news/248003.aspxFri, 17 Feb 2012 20:16:15 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:248003Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=248003http://www.mortgagenewsdaily.com/micro_news/248003.aspx#commentsJust a quick update to moderate the negative reprice report from the previous alert. MBS stayed within the day's range and bounced higher following the 3pm close. 10's and MBS have improved into the "going out" hours (from 3-5pm), with Fannie 3.5's actually prodding the top of the day's range. Is it enough for positive reprices now? VERY small outside chance. Would be more possible were it not a Friday with volatile data waiting on the other end of a 3-day weekend. More important is that we're not at the same risk of negative reprices as we were previously.<div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/248003.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/248003/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=248003" width="1" height="1">MBSalert