Feb 7, 2012 4:11PM

House Committee Acts on Bill to Protect FHA Fund

A sub-committee of the House Financial Services committee today approved the FHA Emergency Solvency Act which is intended to shore up the finances of the Federal Housing Administration (FHA). The legislation strengthens FHA's Mortgage Insurance Fund by establishing minimum annual premiums for mortgage insurance; barring unscrupulous lenders from participating in the program, improving the FHA's internal financial controls, transparency, and disclosure requirements, and requires lenders who commit...

Feb 7, 2012 3:47PM

Mortgage Rates Slightly Higher as Greece, Auctions Weigh on Markets

Although the recently confirmed 3.875% Best-Execution level remains intact for 30yr fixed, conventional loans, Mortgages Rates moved slightly higher today in terms of the costs required to obtain those rates. Weakness in Treasuries today was more pronounced than MBS, the "mortgage-backed-securities most directly responsible for determining mortgage rates. (learn more about how we calculate Best-Execution in THIS POST ). Initially driving today's market movements was news that political leaders would...

Micro News

3:19 PM:

ECON: Consumer Credit Expands More Than Expected

3:19 PM:

Subcommittee Approves Bills Improving Fiscal Health of FHA, Affordable Housing Programs

1:34 PM:

3 Year Auction Moves The Whole Stack. Greece Piles On. Negative Reprices

10:31 AM:

Negative Reprice Risk Increasing as MBS Hit Lows

10:17 AM:

Job Openings Rate Rises in December - BLS Survey

9:37 AM:

Greek Government Finalizing Agreement on Bailout

9:20 AM:

Bond Markets Weaker After Greece Says Drafting Bailout Agreement

2:36 PM:

MBS Gains Hold. Additional Positive Reprices Reported

Around the Web

Video News

Bernanke Testimony to Senate Panel

Santelli: The Fed's Transparency Efforts

California, N.Y. Among Mortgage Deal Holdouts

Today's Comments

Frank Ceizyk

"Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..."

Ray J

"I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..."

steve iler

"Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..."

Today's Q&A

"FHA streamline Florida question"

"I have a felony for possession of a firearm can I still obtain a real estate lisence"

"Is This prepayment penalty legal?"