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Follow up: Refinance America: A New and Improved Plan In a recently published study by the Federal Reserve they confirm what millions of American homeowners know first hand and what most professionals in the housing finance industry have known for over a year: namely, that millions of American homes...
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Today we have, in the Northern Hemisphere, 5 hours and 14 minutes more daylight than the winter solstice six months ago. For the most part it is something everyone north of the equator can be happy about, unless you're on the west coast working New York bond market hours and going to bed 2 hours before...
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The main observation we take away from the FOMC Minutes : UNCERTAINTY OVER THE IMPACT OF RISING ENERGY PRICES Here is a brief recap of the internal debate surrounding the impact of expensive energy prices, using excerpts from the release.... In discussing intermeeting developments and their implications...
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For over three years the news has been filled with discussions of foreclosures, mortgage fraud, derivatives, the failure of Freddie Mac and Fannie Mae, mortgage backed securities, tranches, and robo-signing yet Tuesday the results of a survey conducted by Zillow Mortgage Marketplace reveal that nearly...
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Plain and Simple: The Fed acknowledged that inflation has picked up recently but is still expected to be "transitory". Thus rates will be kept low for an "extended period". With a tiny text change from "intends" to "will", the Statement essentially confirmed that QE2 will finish by the end of June ....
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Federal Reserve Chairman Ben Bernanke told the Senate Subcommittee on Oversight of Government Management, the Federal Workforce, and the District of Columbia, Committee on Homeland Security and Governmental Affairs that financial education must be a life-long pursuit. "(It) enables consumers of all ages...
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The Federal Reserve, Office of Comptroller of the Currency (OCC), FDIC, and Office of Thrift Supervision (OTC) have issued formal enforcement actions against 14 banking and two loan servicing related organizations which they found had demonstrated a "pattern of misconduct and negligence related to deficient...
Posted to
MND NewsWire
by
Jann Swanson
on
Wed, Apr 13 2011
Filed under:
Filed under: Federal Reserve, FDIC, OCC, foreclosure, loss mitigation, FHFA, metlife, Loan Servicer, LPS, MERS, STAR, Servicer Total Achievement and Rewards, State Attorneys, Servicer Settlment, Loan Servicer Reform, Servicer Compensation, U.S. Bancorp, HSBC North America Holdings, SunTrust Banks, Aurora Bank, EverBank, JPMorgan Chase & Co., Wells Fargo & Company, Ally Financial Inc., Sovereign Bank, Citigroup Inc., OneWest Bank, The PNC Financial Services Group, Inc., Bank of America Corporation
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Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Excerpts from the Presser... Starting this month,Treasury plans to sell up to $10 billion in agency-guaranteed...
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The Federal Reserve Open Market Committee has released the March FOMC Statement . On the whole the Fed hinted at an upgrade in economic conditions. Saying the information received since January "suggests" the economic recovery is on "firmer footing". The labor market also "appears" to be "improving gradually...
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The Thanksgiving slowdown prevented me from posting the Federal Reserve's updated economic forecast. The Fed's Summary of Economic Projections are released once a quarter. They are attached to the minutes of four of the Committee’s FOMC meetings and are intended to convey information about FOMC...
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The speech below was given by Federal Reserve Governor Elizabeth Duke yesterday. It is a fantastic knowledge base builder for any Fed watcher. Anyone who follows the movements of mortgage rates should be paying close attention to the communications of the Federal Reserve. I called attention to comments...
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Credit appears to be slowly loosening according to the July Senior Loan Officer Opinion Survey on Bank Lending Practices conducted by the Federal Reserve. The change, however, is modest and concentrated on large banks lending in categories particularly affected by competitive pressures. The Fed defines...
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Choppy trading conditions continue to expand the already spacious "rate sheet influential" MBS coupon trading range.... The FN 4.5 has traded as high as 102-03 and as low as 101-21. Currently the FN 4.5 is flat on the day at 101-30 yielding 4.278%. The 10yr note is however steady near the lowest...
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Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories Profits Booked Ahead of Bernanke. How Fed Rhetoric Can Affect Mortgage Rates If Ben's tight rope walk is balanced and the short-end of the yield curve rallies as a result, it sure would make it a heck of a lot easier for the... - MBS...
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The mortgage market has given back a portion of recent appreciations--in both price and relative value (yield spread). Multiple lenders have re-priced for the worse...some recalls hit inboxes before the initial releases were even downloaded to xls workbooks. A lack of new loan supply and slow trading...