Jan 31, 2012 2:58PM

Case-Shiller Reports Continued Erosion in Home Prices

Home prices continued to fall in November according to the S&P/Case-Shiller Home Price Indices released this morning. Both the 10-City and the 20-City Indices were down 1.3 percent in November compared to the previous month and for the second month in a row19 of the cities also saw their prices inch lower. Phoenix was the only one of the 20 to post a gain in November. The year-over-year price declines in November widened from those in October. The 10-City and 20-City Composites were down 3.6...

Jan 31, 2012 9:52AM

Freddie's PR Nightmare; Servicing's Negative Earnings Impact; More on MetLife's Fade

Do you think it takes a long time to have a loan purchased by Wells or MetLife? Try running the world's longest lab experiment , begun in the 1920's. Fortunately finding a job in mortgage banking doesn't take eighty years. In Toms River, New Jersey, Glendenning Mortgage currently has an opening for a DE Underwriter to join its team. Business has been too good for Glendenning, which has found itself outsourcing a portion of its underwriting needs - it would like to bring that back in-house entirely...

Micro News

4:10 PM:

Fannie Mae December 2011 Volume Summary

2:33 PM:

Agencies Issue Guidance on Junior Lien Loan Loss Allowances

12:27 PM:

Potential Price Improvements as MBS Hit Highs

11:27 AM:

ECON: Consumer Confidence Much Lower Than Expected

9:53 AM:

ECON: Chicago PMI Misses Consensus. Index Lowest Since August

9:03 AM:

S&P/Case-Shiller: Home Prices Drop for 3rd Straight Month

8:55 AM:

MBS Inch Back Into Positive Territory, Uninterested in Econ Data

8:39 AM:

ECON: Employment Cost Index In Line With Expectations

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Today's Comments

Steve Dalia

"Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..."

Frank Ceizyk

"You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..."

Frank Ceizyk

"And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..."

Today's Q&A

"Should I pay down my mortgage when my property has depreciated in value?"

"Foreclose during bankruptcy or after?"

"Can a commercial property be sold to a person who is not a US citizen if he pays cash!"