Mar 20, 2013 2:11PM

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...

Mar 20, 2013 10:16AM

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...


Micro News

3:38 PM:

Reprices Incrementally More Possible

3:26 PM:

MBS Hit Lows Again After Bullish Hints From Bernanke

2:10 PM:

Range Containment Continues Post-FOMC

1:52 PM:

MBS Hit Lows Ahead Of FOMC, But Trend Is Sideways

9:35 AM:

Bond Markets Weaker Overnight, Consolidating At Current Levels

4:17 PM:

Positive Reprice Prospects Dimming As Prices Languish Late

3:28 PM:

Bond Market Gains Holding Ground Amid Volatility

10:50 AM:

Bond Market Hit Best Levels On Cyprus Exit Rumors

Around the Web

Video News

OCC Raises Bar For Banks

Bernanke: Fed Bond Buying Costs Manageable

Santelli's Midday Bond Report


Today's Comments

Jana Holmstrup

"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

evelyn4homes

"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..."

Steven Browne

"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

"How can I avoid Capital Gains tax on my 2nd home "

"How to obtain copy of real estate closing"

"Conventional w/ Foreclosure over 5 years old in miami-dade county"