Apr 4, 2012 2:46PM

DeMarco: Forbearance Protects Taxpayer Upside, Over Forgiveness

Acting Federal Housing Finance Agency Director Edward J. DeMarco spoke to the Boston Security Analysts Society on Wednesday, in part defending his stand against principal reductions for Freddie Mac and Fannie Mae Loans. DeMarco said that the two government sponsored enterprises (GSEs) own or guarantee 60 percent of the outstanding mortgages in the country but account for only 29 percent of seriously delinquent loans. Even with this small share of the nation's delinquencies over half of the modifications...

Apr 4, 2012 4:17PM

MBS RECAP: Surprisingly Stable Rally. Waiting on NFP

In recent minutes, 10yr yields managed to creep just slightly below their previous floor of resistance around 2.238. At the same time, Fannie 3.5 MBS rose to challenge a ceiling marked by a band of prices from 102-16 to 102-19. They're currently in the


Micro News

1:02 PM:

MBS Improve, Taking Cues From TSYs, Positive Reprice Potential

12:09 PM:

NY Fed: 2011 Domestic Open Market Operations Released

11:47 AM:

Indecisive, Sideways Price Action Despite Heavy Volume

10:10 AM:

ISM Non-Manufacturing Slightly Lower Than Expected

9:29 AM:

Strong, Steady Volume Underlies Bond Market Bounce Back

8:19 AM:

ECON: ADP Employment +209k vs +200k Consensus

3:56 PM:

Bond Markets Leaking To Worst Levels After Hours

2:40 PM:

10yr Yields Breaking Important Technical Level. MBS Sell More

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Today's Comments

Frank Ceizyk

"Really?: "The premise behind a modification was that if we lowered the payment they would continue to pay. The result of that exercise hasn't..."

Mike Lesmeister

"These results are not surprising. With so many loans that fall out, agents want to partner with lenders that they have a high level of confidence can get..."

Jason Harris

"Frank....Cool...I was not aware of that. So how often when you run DU Refi Plus do the findings allow for no ratio? I ask because we have a subset of Fannie..."

Today's Q&A

"Buying and Selling of new property"

"Bankruptcey Chapter 7 and a Short Sale"

"What is a DU Underwriter"