Latest news from http://www.mortgagebiznews.com http://www.mortgagebiznews.com http://www.mortgagenewsdaily.com/mortgage_rates/blog/246209.aspx Fri, 03 Feb 2012 16:21:54 -0500 Posted To: MBS CommentaryMBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-24 : -0-10 FNMA 4.0 105-17 : -0-09 FNMA 4.5 106-26 : -0-04 FNMA 5.0 108-01 : -0-02 GNMA 3.5 105-02 : -0-11 GNMA 4.0 107-24 : -0-07 GNMA 4.5 109-03 : -0-05 GNMA 5.0 110-27 : -0-03 FHLMC 3.5 103-16 : -0-09 FHLMC 4.0 105-06 : -0-08 FHLMC 4.5 106-09 : -0-04 FHLMC 5.0 107-20 : -0-01 Pricing as of 4:02 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246209 http://www.mortgagenewsdaily.com/02032012_mers_foreclosure_law.asp Fri, 03 Feb 2012 15:44:00 -0500 Posted To: MND NewsWireThree major banks and Virginia-based MERSCORP, Inc. and its subsidiary Mortgage Electronic Registrations Systems ( MERS ) were sued Friday by the state of New York. The suit, filed by the state's Attorney General Eric T. Schneiderman , charges that the creation and use of a privately national electronic registration system, MERS, "has resulted in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts, harming homeowners and... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246194 40.75 -74.1 http://www.mortgagenewsdaily.com/consumer_rates/246199.aspx Fri, 03 Feb 2012 15:01:00 -0500 Posted To: Mortgage Rate WatchThe monthly Employment Situation Report was released at 8:30am this morning, with much better-than-expected results. Stocks rallied sharply and most every interest rate in fixed-income markets moved higher. The economic optimism created by this sort of data tends to increase demand for riskier investments like stocks and lower demand for things like fixed-income notes and bonds. MBS (the "mortgage backed securities" that most directly govern mortgage rates) fall... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246199 http://www.mortgagenewsdaily.com/02032012_financial_reform.asp Fri, 03 Feb 2012 14:45:40 -0500 Posted To: MND NewsWireTreasury Secretary Timothy Geithner told the Financial Stability Oversight Council that the financial system is getting stronger and safer and that much of the excess risk-taking and careless financial practices that caused so much damage has been forced out. However, he said, "These gains will erode over time if we are not able to put our full reforms into place." He outlined the basic framework has been laid, with new global agreements to limit leverage, rules for... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246143 http://www.mortgagenewsdaily.com/02032012_hope_now_loan_mods.asp Fri, 03 Feb 2012 14:40:13 -0500 Posted To: MND NewsWireHOPE NOW, the voluntary private sector alliance of mortgage industry stakeholders, recently concluded a two day conference in Washington which focused on assistance to military homeowners and foreclosure mediation. One group of servicers, investors, and housing counselors met with regulators, investors, and members of the military to discuss ways of reaching military families facing foreclosure because of their unique situation which includes Permanent Change of Station... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246113 http://www.mortgagenewsdaily.com/mortgage_rates/blog/246189.aspx Fri, 03 Feb 2012 14:09:00 -0500 Posted To: MBS CommentaryThere is plenty of play-by-play on the post-NFP sell-off in the MBS Recap . If you haven't seen those updates already, that's a good place to start, and in terms of where MBS are and what they're doing, there's not much more to say. So we'll focus instead on the longer term implications, look at charts, and consider the week ahead. First off, here's some pictorial accompaniment for today's movement. MBS turn out to have been relatively drama-free since the initial sell-... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246189 http://www.mortgagenewsdaily.com/mortgage_rates/blog/246139.aspx Fri, 03 Feb 2012 11:21:00 -0500 Posted To: MBS CommentaryMBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-23 : -0-11 FNMA 4.0 105-20 : -0-06 FNMA 4.5 106-26 : -0-04 FNMA 5.0 108-01 : -0-01 GNMA 3.5 105-03 : -0-10 GNMA 4.0 107-25 : -0-06 GNMA 4.5 109-05 : -0-03 GNMA 5.0 110-29 : -0-01 FHLMC 3.5 103-16 : -0-09 FHLMC 4.0 105-09 : -0-06 FHLMC 4.5 106-10 : -0-03 FHLMC 5.0 107-20 : -0-01 Pricing as of 11:02 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246139 http://www.mortgagenewsdaily.com/channels/pipelinepress/02032012-mba-classes-servicing-comp.aspx Fri, 03 Feb 2012 10:34:55 -0500 Posted To: Pipeline PressThe e-mail wires here in Miami have been burning up with...e-mails. PHH clients received a note from Norm Fitzgerald , explaining the recent restructuring. "I am writing to let you know we recently decided to reallocate resources from our Correspondent Lending channel to our Private Label Solutions and Real Estate Field Sales distribution channels. Although this action will reduce our Correspondent Lending volume, I want to be clear that we are committed to... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246105 25.83 -80.27 http://www.mortgagenewsdaily.com/channels/secondary_markets/02022012-current-coupon.aspx Fri, 03 Feb 2012 09:18:47 -0500 Posted To: Secondary MarketsThe recent drop in rates has created some interesting situations in the market, especially for lenders.   First of all, I'm not aware of any consensus on how to calculate a "current coupon" rate in this environment.  The current coupon is calculated by interpolating between coupons that are above and below par, adjusting for the delay days associated with the securities in question. Let's take an example from the old days when coupons traded... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246029 http://www.mortgagenewsdaily.com/mortgage_rates/blog/246084.aspx Fri, 03 Feb 2012 08:00:00 -0500 Posted To: MBS CommentaryFirst Friday of the month and time, once again, for The Employment Situation Report, or more specifically, the Non-Farm Payrolls headline. Both Manufacturing and Private payrolls are expected to have fallen somewhat from last month's report with the 200k headline falling to 150k. With both stocks and bonds near their best levels in about half a year, there aren't the usual foregone conclusions about a positive report hurting interest rates or a negative report hurting... 2bb7a989-b681-446d-a7f2-bd5f0562f228:246084