The Urban Institute (UI) is advocating for a streamlined refinancing program similar to the Home Affordable Refinance Program (HARP) which aided many homeowners during the Great Recession to assist those impacted by the pandemic. HARP, which was used by more than 3.4 million borrowers between 2009 and 2018, offered simplified documentation, automated appraisals, no or reduced loan-level pricing adjustments, and mortgage insurance transferability to existing GSE (Fannie Mae and Freddie Mac) borrowers. Because home prices had dropped dramatically, leaving many borrowers underwater, eligibility was determined without regard to a mortgage's current loan-to-value (LTV) ratio. UI analysts Laurie Goodman and Edward Golding write that studies have estimated that HARP, by lowering monthly mortgage payments

April 20, 2021 Download our Mobile App: Download our Mobile App: Housing News UI Says HARP 2.0 Could Help Pandemic-Era Borrowers The Urban Institute (UI) is advocating for a streamlined refinancing program similar to the Home Affordable Refinance Program (HARP) which aided many homeowners during the Great Recession to assist those impacted by the pandemic. HARP, which was used... (read more) MBS Commentary MBS Live Recap: Decent Day For Bonds as Stocks Sell Decent Day For Bonds as Stocks Sell A good, old-fashioned "risk-off" rally has been hard to come by in 2021, but that's arguably what we saw today.  Whether investors were shedding stocks due to broad ec... (read more) Rob Chrisman Training, AE jobs; Pricing, Risk Mgt., Dashboard Tools; Servicing Package for Sale; Investors Adapt to Agency Shifts Whenever I ask my cat Myrtle about her opinion of the Consumer Finance Protection Bureau, she remains mum. But the CFPB has been in the press lately. Servicers are girding their loins and making sure their portfolio clients are being handled per rule... (read more) Housing News Brighter Outlook For Housing and Economy - Fannie Mae Incoming data for March has caused Fannie Mae to again revise its forecast for the year's growth in gross domestic product (GDP). The company's Economic and Strategic Research (ESR) team said a sharp uptick in the economy last month followed a weathe... (read more) Housing News Draft Housing Infrastructure and Assistance Bill Presented to FSC The House Committee on Financial Services (FSC) held a virtual hearing last week on ways to provide equitable and affordable housing infrastructure. The memorandum setting out the hearing's purpose stated that, not only is affordable housing a crucia... (read more) Mortgage Rate Watch Mortgage Rates Falling Quickly to Lowest Levels in Weeks It's no secret that mortgage rates had a rough month in March and a rough year in general. The average lender raised 30yr fixed rates by roughly half a percent in February and March alone. But April has proven to be an entirely different sort of mont... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% +0.02 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.38% 0.00 0.00 30 Yr. Jumbo 6.95% -0.03 0.00 7/6 SOFR ARM 6.24% -0.02 0.00 30 Yr. VA 6.40% 0.00 0.00 Updates Daily - Last Update: 6/5 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 99.01 +0.03 Price / Yield Change MBS UMBS 5.5 99.01 +0.03 UMBS 6.0 101.03 +0.03 GNMA 5.5 99.30 +0.02 GNMA 6.0 101.00 +0.03 Pricing as of: 6/5 9:38PM EST 10 Year US Treasury 4.3901 -0.0044 Price / Yield Change US Treasury 2 YR Treasury 3.914 -0.006 5 YR Treasury 3.985 -0.013 7 YR Treasury 4.202 +0.075 10 YR Treasury 4.389 -0.005 30 YR Treasury 4.880 +0.007 Pricing as of: 6/5 9:38PM EST Latest Video No better hedge against risk than Fed chair Powell, says Jefferies' Zervos Second phase of Biden infrastructure plan expected to cost $1.5T: Source The 9am Bond Report - April 20, 2021 U.S. sees biggest hike in property taxes in four years Around the Web Reuters Stocks, yields, oil fall as pandemic fears linger Federal Reserve Clarida, The Federal Reserve's New Framework andOutcome-Based Forward Guidance Reuters Exclusive: Fed will limit any overshoot of inflation target, Powell says Calculated Risk Blog The Upward Slope of Real House Prices Calculated Risk Blog CoreLogic: Mortgage Application Fraud Risk Index increased in Q1 Fannie Mae Lenders Report on Remote Work Productivity and Post-pandemic Workplace Plans CNBC Investors are shying away from bonds. Here are the two sides of the trade Calculated Risk Blog Trends in Educational Attainment in the U.S. Labor Force CNBC Procter & Gamble will raise prices in September to fight higher commodity costs CNBC Remember the pandemic stockpiling last year? Consumer products companies are still catching up Reuters Senator Manchin throws support behind U.S. labor reform bill Calculated Risk Blog Recession Measures and NBER CFPB CFPB Rule Clarifies Tenants Can Hold Debt Collectors Accountable for Illegal Evictions

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