Dec 6, 2012 3:17PM

What Role Will the Government Play in a Reformed Housing Market?

Edward J. DeMarco , Acting Director of the Federal Housing Finance Agency, told members of SIFMA this afternoon that "The secondary mortgage market infrastructure that served this country for many years is broken." It is not effective when it comes to adapting to market changes, issuing securities that attract private capital, aggregating data, or lowering barriers to market entry he said. There must be some updating and continued maintenance of the government sponsored enterprises securitization...

Dec 6, 2012 9:26AM

Short Sales Outpace REO Ahead of Tax Relief Expiration

Just as they had a year earlier, foreclosure and pre-foreclosure sales made up nearly one-fifth of the residential home sales in the third quarter of 2012. According to RealtyTrac's Q3 U.S. Foreclosure and Short Sales Report TM released on Thursday, 19 percent of home sales nationally were either bank inventory (REO) or properties pre-foreclosure. These are usually short sales in which the bank agrees to accept less than the full mortgage balance to release its lien. This share is identical to that...

Micro News

3:10 PM:

Trying To Dig In At Lows, But Negative Reprices Remain Probable

2:33 PM:

Fed MBS Purchases Show Shift Toward 3.5 Coupons In Latest Report

2:06 PM:

Selling Trend Crosses The Line. Negative Reprice Risk Increasing

12:14 PM:

Some Post-POMO Weakness, But Range Holding For Now

9:45 AM:

Stronger Levels Thanks To Europe, But Resistance Ahead

8:49 AM:

ECON: Jobless Claims Slightly Lower Than Expected

2:50 PM:

MBS Hit Lowest Levels Since Open. Reprice Risk Uncertain

10:15 AM:

ECON: Factory Orders Higher Than Expected

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Today's Comments

Larry Thompson

"Clay Brown is absolutely correct. Additionally, costs are rising for lenders in that they (we) are having to add non-revenue producing staff for the simple..."

Clay Brown

"The gap between primary and secondary pricing has widened due to Dodd Frank!! Thousands of MLO's individually pricing loans used to be able to keep..."

Rod Martino

"Having Wal-Mart provide mortgage financing sounds like a novel idea, however I would imagine that there would be only a certain amount of eligible borrower..."

Today's Q&A

"What are the Mortgage Prepayment Penalty Laws in West Virginia?"

"Can I refinance A FHA loan that an LTV above 125%? Is there an unlimited LTV program?"

"Can mortgage-backed securities investors opt out of national mortgage settlement?"