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Realty News:
Fri, 03 Feb 2012 21:21:54 GMT
mbsonmnd - MBS RECAP: 2/3/2012
Posted To: MBS Commentary MBS 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 Live Dashboard . 1:54PM : NY Files Lawsuit Against Big Banks for Deceptive and Fraudulent Use of MERS Attorney General Eric T. Schneiderman today filed a lawsuit against several of the nation’s largest banks charging that the creation and use of a private national mortgage electronic registry system known as MERS has resulted in...(read more)
| Fri, 03 Feb 2012 20:44:00 GMT
mbsonmnd - MERS, Banks Sued by New York State; MERSCORP Responds
Posted To: MND NewsWire Three 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 undermining the integrity of the judicial foreclosure process." Further, the lawsuit charges that the employees and agents of the three banks, Bank of America, J.P. Morgan Chase, and Wells Fargo , acting as "MERS certifying officers," have repeatedly submitted court documents containing false and misleading information that made...(read more)
| Fri, 03 Feb 2012 20:01:00 GMT
mortgage rates, Mortgage Rate Outlook, mortgage rate prediction, home loan rates, lifetime lows - Mortgage Rates Higher Following Employment Report
Posted To: Mortgage Rate Watch The 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 into this fixed-income sector, and definitely weakened following the jobs data. As a result, Mortgages Rates moved higher at their fastest pace in some time, traversing most of this week's territory, but leaving Best-Execution rates mostly at 3.875%. (learn more about how we calculate Best-Execution in THIS POST ). We'd said yesterday...(read more)
| Fri, 03 Feb 2012 19:45:40 GMT
mortgage rates, Mortgage Rate Outlook, mortgage rate prediction, home loan rates, lifetime lows - Geithner Outlines Accomplishments, Future of Financial Reform
Posted To: MND NewsWire Treasury 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 managing the failure of a large firm and the new Consumer Financial Protection Bureau (CFPB) up and running, and the majority of the new safeguards for derivatives markets proposed. Geithner ticked off the major accomplishments of reform. First, banks now face much tougher limits on risk which are critical to reducing the risk of...(read more)
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