Mortgage News Clips

Email not displaying correctly? View it in your browser.

 

Today's Mortgage Newsclips Headlines   Rates and Housing (3), GSE Reform Cheat Sheet, FHA Replacement Paper, FLA is Hot, Freddie Reconsiders, Reverse Mortgages, Pinto on Subsidies, Seniors Are Moving, Higher Rates OK?, Printing Money and Housing   Rates and Housing (3), GSE Reform Cheat Sheet, FHA Replacement Paper, FLA is Hot, Freddie Reconsiders, Reverse Mortgages, Pinto on Subsidies, Seniors Are Moving, Higher Rates OK?, Printing Money and Housing Jun 25, 2013 05:03 am | billcoppedge email signup          RSS News Signup          Fay Servicing          BC’s profile ———- 10-Year Treasury Yield Up 100 Basis Points Since May; What’s That Mean for Mortgage Rates and Housing Affordability? – Mike Shedlock – … The FNMA 3.5 coupon was trading at 106 22/32 on May 2nd, and this morning it was trading at 99 9/32. Ginnie Mae is worse. The GNMA 3.5 coupon was trading at 109 1/32 on May 2nd, and this morning it was trading at 99 24/32. … In terms of interest rates, I locked an FHA purchase on May 2nd and the rate was 3.25%, and that rate carried a 2 point lender credit to help pay for closing costs. In order to get the same deal today, (a 2 point lender credit) the rate would have to be 5% today. This as an apples to apples comparison illustrates that FHA rates have increased 1.75% in 7 weeks. … – MISH’S Global Economic Trend Analysis    ———— Fannie Mae chief economist warns of rapidly escalating rates – By Megan Hopkins – Housingwire  ———— Fed hits investors with MBS game changer - By Christina Mlynski – … For instance, the 30-year, fixed-rate mortgage stood at 4.24% in the most recent Bankrate report, indicating the Fed assumption is a 5% mortgage rate would be acceptable. “Therefore, Bernanke’s comment suggests to us that at least another 75 basis points rise in mortgage rates can be expected, as the market is likely to test the chairman’s resolve in his willingness to taper in the face of higher mortgage rates,” said Chris Flanagan and Adam Katz, MBS strategists for BofAML.  … – Housingwire ———— (reforming GSEs) Cheat Sheet: Details Emerge on Corker-Warner GSE Bill - VICTORIA FINKLE and DONNA BORAK – hattip Rob Chrisman – … The draft bill would create the Federal Mortgage Insurance Company, an agency that would provide catastrophic reinsurance for mortgage-backed securities.  … – American Banker ———— (link to AEI paper) Report Finds FHA Needs Replacement More Than Reform - by Alyssa Gerace – Reform won’t be enough to fix the Federal Housing Administration’s (FHA) failings, according to a business and economics scholar who argues in a recent paper that the agency needs to be phased out and replaced, but omits mention of the Home Equity Conversion Mortgage program. … To do so, I propose replacing FHA with a new subsidized savings program that provides matches of qualified households’ savings. The goal would be to help those households achieve a 10 percent downpayment on the home they wish to purchase.  ...  – Reverse Mortgage Daily ———— Florida housing market thrives as foreclosure woes and cash buyers fade – By Megan Hopkins – Housingwire  ———— Freddie Mac reassesses low activity charge for mortgage servicers – By Christina Mlynski – Housingwire  ———— The Mortgage Professor: How to use reverse mortgage to avoid poverty – BY JACK GUTTENTAG – The Mortgage Professor – KC Star ———— Overzealous Intervention Dooms the Market - Edward J. Pinto, a former executive vice president and chief credit officer of Fannie Mae, is a resident fellow at the American Enterprise Institute. – Those who want government guarantees for mortgages see them as a path to encourage homeownership and market stability, but instead guarantees pose needless risks to homeowners and taxpayers. Government guarantees suffer from three flaws: the inability and unwillingness to price for risk, asset allocation distortions, and the politicization of lending. – NY Times Opinion  and (6 features) FHA Watch – FHA Watch Vol. 2, No. 6, June 2013 – Edward J. Pinto  ———— As Housing Market Thaws, Seniors Once Again Willing to Move – Alyssa Gerace – Senior Housing News  ———— Freddie Mac: Increasing Rates Won’t Shut Down Recovery - BY: TORY BARRINGER – The M Report  ———— How the federal reserve’s printing money impacts housing - OC Housing News

You are receiving this email because you opted in at our website http://mortgagenewsclips.com/ Unsubscribe alanrussell@princetoncap.com from this list | Forward to a friend | Update your profile Our mailing address is: MortgageNewsClips.com 1322 Edgewood Lane Northbrook, IL 60062 Add us to your address book Copyright (C) 2013 MortgageNewsClips.com All rights reserved.