Latest mortgage news, Main Street Mortgage

NAR: Existing Home Sales and Inventories Improved in January

2/22/2012 11:26 AM

There was more good news from the National Association of Realtors® (NAR) on Wednesday as they reported that the sales of existing homes rose in January, marking three months out of the last four where sales improved. Inventories of homes for sale were also improved and NAR disputed the need fo...Read More

MERS Has Second Court Win in Month

2/22/2012 10:39 AM

Posted To: MND NewsWire

For the second time in just under a month the Mortgage Electronic Registration System ( MERS ) has won a significant court victory. The company which serves as registration agent for major mortgage lenders is currently involved in multiple lawsuits throughout the country. It prevailed in one of the...Read More

Inspector General Looks at GSE's as Legal Costs Pass $100 Million

2/22/2012 10:36 AM

Posted To: MND NewsWire

Both before and after they were placed into conservatorship the two government sponsored enterprises Fannie Mae and Freddie Mac (the Enterprises) spent large amounts of money to defend themselves and former senior executives in class action lawsuits and other legal matters. For example, in cases ar...Read More

MBS MID-DAY: 2/22/2012

2/22/2012 10:20 AM

Posted To: MBS Commentary

MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-05 : +0-06 FNMA 4.0 105-03 : +0-03 FNMA 4.5 106-16 : +0-02 FNMA 5.0 107-31 : +0-02 GNMA 3.5 104-20 : +0-06 GNMA 4.0 107-18 : +0-03 GNMA 4.5 109-01 : +0-04 GNMA 5.0 110-27 : +0-02 FHLMC 3.5 102-29 : +0-05 FHLMC 4.0 104-23 :...Read More

Fannie and Freddie Future Plans; NMLS Licensee Stats on the Rise

2/22/2012 9:20 AM

Posted To: Pipeline Press

Under the title, "Too much time on one's hands", anyone involved in the residential construction/remodeling business might find this, uh, interesting . Hiring in the "mortgage space" continues. Altisource's Origination Services Division is currently hiring DE Underwr...Read More

Mortgage Applications Slow as Average Rates Rise

2/22/2012 7:52 AM

Posted To: MND NewsWire

Mortgage applications decreased during the week ended February 17 according to the Weekly Mortgage Applications Survey released this morning by the Mortgage Bankers Association (MBA), The Market Composite Index measuring the volume of applications decreased 4.5 percent on a seasonally adjusted basi...Read More

The Day Ahead: Existing Home Sales and Week's Most Important Auction

2/22/2012 12:46 AM

Posted To: MBS Commentary

As readers may be aware, we're rather fond of being close to utterly dismissive of 2yr Treasury Note Auctions as significant market moving events for the sections of the MBS Coupon Stack that most directly apply to lender's rate sheets. This has been true since the original "2013 v...Read More

MBS RECAP: 2/21/2012

2/21/2012 3:20 PM

Posted To: MBS Commentary

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 102-30 : -0-03 FNMA 4.0 104-31 : -0-01 FNMA 4.5 106-14 : +0-01 FNMA 5.0 107-30 : +0-01 GNMA 3.5 104-16 : +0-00 GNMA 4.0 107-16 : +0-03 GNMA 4.5 108-30 : +0-03 GNMA 5.0 110-26 : +0-01 FHLMC 3.5 102-25 : +0-02 FHLMC 4.0 104-21 : +...Read More

Best-Execution Mortgage Rates Rise For First Time in a Month

2/21/2012 2:31 PM

Posted To: Mortgage Rate Watch

For the first time since late January, Best-Execution Mortgages Rates moved back to 4.0%. Over the past month, the rate averaged 3.875% despite plenty of fluctuations in terms of closing costs. Friday's weakness brought the average of the lenders we survey as close to the 4.0% mark...Read More

FHFA Sends Congress Strategic Plan for GSEs

2/21/2012 1:07 PM

Posted To: MND NewsWire

The Federal Housing Finance Agency (FHFA) said Tuesday that, with its conservatorship of Fannie Mae and Freddie Mac (the Enterprises) now in operation for more than three years "and no near-term resolution in sight," it was time to assess its goals and directions. In a letter submitted to the chair...Read More