Feb 5, 2013 9:59AM

Senator Introduces CFPB Reform Bill to Replace Cordray with Five-Member Commission

Senate Republicans have fired the first two shots in a renewed battle over the Consumer Financial Protection Bureau ( CFPB ). President Barack Obama recently submitted the name of Richard Cordray , who has served as CFPB director since January 2012, for full Senate confirmation to the post. He had recess-appointed Cordray when Senate Republicans made it clear they would not confirm anyone, regardless of their qualifications, to the post. On Friday Senate Minority Leader Mitch McConnell and 42 other...

Feb 5, 2013 10:58AM

Home Prices Show Largest Annual Increase in Nearly Seven Years

Home prices in December posted the largest annual increase in nearly seven years according to CoreLogic's Home Price Index (HPI) report. December was also the 10th consecutive month in which home prices increased nationally. The index that included distressed sales (sales of owned real estate and short sales) increased by 8.3 percent compared to December 2011, the largest increase since May 2006. With distressed sales excluded the HPI increased 7.5 percent year over year. Prices were up 0.4 percent...

Micro News

10:13 AM:

ECON: ISM Non-Manufacturing Mixed, Comments Relatively Upbeat

9:27 AM:

Bond Markets Weaker As Risk-Off Moves To Risk-On

4:10 PM:

Stock Lever Helps Reinforce Afternoon Stability

3:22 PM:

Late Day Illiquidity Causes Moderate Weakness For MBS

2:19 PM:

Lingering Positive Reprice Potential For Some Lenders

10:59 AM:

Bond Markets At Best Levels Ahead Of POMO Conclusion

10:06 AM:

ECON: Factory Orders Miss Just Slightly, No Market Reaction

9:41 AM:

Bond Markets Holding Gains. Stock Lever Helping.

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Today's Comments

Jason Harris

"Jeff...if you plan on being in the house long term refi now into a 22 year term in the low 3's fixed. Remember to thank me in a few years. Do it soon..."

Frank Ceizyk

"another way to look at it is "FHA can't keep foregoing billions in MIP if they are going to continue to make 3.5% down mortgages, as they have..."

Frank Ceizyk

"Ronnid--I agree with you--but the answer is in this statement: the problem for the consumer is they have no idea of the trust cost of protection. But you..."

Today's Q&A

"If I refinance my mortgage can I remove my husband's name and add my son's name Title also? SA"

"I need the directories of all mortgage companies in the state of michigan."

"I need a list of mortgage companies in the state of Michigan that have Reo inventorties"