FHA's Galante Asks Congress For Increased Authority To Hold Lenders Accountable

On Wednesday the House Financial Services Committee held a second in a scheduled series of hearings to look into the financial condition of the Federal Housing Administration (FHA) . The sole witness at the hearing titled "Bailout, Bust, or Much Ado about Nothing?: A Look at the Federal Housing Administration's 2012 Actuarial Report" was Carol Galante , Assist Secretary of the Department of Housing and Urban Development and Acting FHA Commissioner. Galante briefly recounted the history of the housing...

Mortgage Rates Jump To Highest Levels Of The Year

Mortgage rates surged higher at their quickest pace since late January on Wednesday eclipsing the previous highs of the year seen around the same time. For many lenders--and for the first time since mid 2012, this takes Best-Execution for 30yr Fixed, Conventional Loans back up to 3.75%. Some lenders remain at 3.625% and lower rates are still quite viable in certain situations. As always, remember that what we refer to as "best-execution" can vary depending on personal preferences. Also, it's important...

• CPFB Announces Implementation Plan to Help Lenders Comply
• SOTU Prompts Positive Reactions from Industry Groups
• MBS RECAP: Rough Day For Bond Markets, Even Before It Began
• FHFA Ruling on Forced Placed Insurance Criticized by Consumer Groups
• Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors
• MBS MID-DAY: Weaker To Start, Weaker After Data, Holding Lows Now

Micro News

Around the Web

• Southern California Begin 2013 With Home Sales and Price Gains Vs. Year Earlier
• OCC's Curry Defends $9 Billion Foreclosure Deal With Servicers
• Solow Sues Citigroup, BofA Alleging Manipulation of Libor
• NAR: Tax Reform, Fixing Mortgage Rules High on 2013 Obama Agenda
• CRL: FHFA action harms homeowners
• Chairman Hensarling: "Grave Fears" that FHA is an Impediment a Sustainable Housing Finance System

Video News

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Today's Comments

	"Let's see, FHA is $16,000,000,000 in the hole. Our best and brightest's solution: Raise rates for both refinances and purchases, giving borrowers..."
	"Industry spokesmen disputed the 40 million error projection, stating "we have resolved several of those, and are now down to only 39,999,861 current..."
	"Can the CDIA not agree to an interview on the condition that they be allowed to approve the final edit? Usually 60 Minutes is right on the money when they..."

Today's Q&A