LO Compensation Based on Product Type? Warehouse Banks to Approve Comp Plans? More Views on Gfee Changes

I've been visiting Colorado this week, where some of the conversation involves yesterday's sentencing of two individuals for fraud. "The elaborate scheme involved phony or inflated property appraisals for refinances or purchases, fraudulent mortgage applications, kick-back schemes involving straw buyers and funneling grant funds without disclosing who benefitted." This is exactly the type of story that gives those currently in the mortgage industry a continuing black eye . Many of us have been through...

Freddie Mac Sues 15 Banks over LIBOR Scheme

Freddie Mac has filed a complaint in federal court in Alexandria, Virginia alleging that 15 banks , including Bank of America, JP Morgan Chase, UBS, and Citigroup manipulated the London interbank offered rate (LIBOR) . This manipulation, Freddie Mac alleges, caused it to suffer substantial losses. The LIBOR is used as an index to set rates for many financial products and contracts including residential mortgages. According to Bloomberg more than $300 trillion (others say $800 trillion) of such products...

• New Dividend Structure May Speed GSEs' Treasury Debt Payoff
• Legislation would Remove Lending Barriers for Home Builders
• Ellie Mae Notes Looser Underwriting, Quicker Closes
• Mortgage Rates Rise Following Following Fed Statement, Not Necessarily Because Of It
• MBS RECAP: Negative Reprices Rolling In As Day Winds Down
• Differences Between Current And Previous FOMC Statements

Micro News

Around the Web

• JPMorgan to Sell Bonds Backed by $616 Million of Mortgages
• In U.S., Surprise Housing Demand Catches Industry Off-Guard
• Freddie Mac: From Gloom to Bloom - March Economic and Housing Market Outlook
• Fed: Economic Projections from the March 19-20 FOMC Meeting
• Federal Reserve FOMC Statement
• Cyprus' Banks to Remain Closed Until Next Tuesday

Video News

	OCC Raises Bar For Banks
	Bernanke: Fed Bond Buying Costs Manageable
	Santelli's Midday Bond Report

Today's Comments

	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."
	"If there woud be more of a push for loan modifications with principal writedowns for those that have jobs and want to stay in their homes we would be in..."
	"Thanks Jann, this is directly related to our business. ( the trickle effect) We are talking to investors concerned with shrinking inventory as the spree..."

Today's Q&A