Mortgage Rates Highest In Nearly 10 Months After Employment Data

Mortgage rates vaulted higher today at their fastest pace since late January, after the Employment Situation showed an unexpectedly high number of jobs created in February. The Employment Situation is the most important piece of domestic economic data each month and always has the potential to greatly impact markets. This was indeed the case today, and it brings 30yr Fixed Best-Execution up to 3.75% for the first time since May 2012. Lenders are still offering lower rates, but at greatly increased...

Senator Requests DOJ Investigation of LPS Related to Fees, Double-Billing

According to the Wall Street Journal , Senator Ron Wyden (D-OR) has sent a letter to the Department of Justice requesting an investigation of Lender Processing Services (LPS) . The letter, sent yesterday to Attorney General Eric Holder, alleges that LPS may have used an improper fee structure for legal services related to the processing of foreclosures and bankruptcies. This structure, Wyden says, resulted in double-billing homeowners and mortgage investors. The Democratic Senator also said that...

• Sequester Puts Native American Loan Program on Hold; Uniform State Test Info; Interesting Prepayment Info and How it Impacts Pricing
• Mortgage Insurers Active in HAMP, HARP Programs
• Fed Reports Results of First Dodd-Frank Bank Stress Tests
• Foreign-Born Households will Drive Homeowner and Rental Markets this Decade
• Unintended Consequences of Judicial vs Non-Judicial Foreclosure
• MBS MID-DAY: Range Finding Leads To More Selling

Micro News

Around the Web

• Reforming the Debt Trap in California
• Multi-State Mortgage Committee Issues 2012 Annual Report to State Regulators
• Bank of America Raises Forecast for Gain in Home Prices
• Banks and Fed's Stress Test Models Far Apart
• MBIA Loses Bid to Get FDIC Funds to Cover IndyMac Liability
• Fed's Bullard sees continued bond buying

Video News

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Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

Today's Q&A