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Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>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…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/246209.aspx”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/news/”>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…(<a href="http://www.mortgagenewsdaily.com/02032012_mers_foreclosure_law.asp”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/news/”>MND NewsWire

CoreLogic and Lender Processing Services (LPS) have each released their most recent Home Price Indices . CoreLogic’s HPI covers December; LPS’s covers the month of November. Here is a quick review of each. LPS found that the average home price for transactions during November was $199.000, down 0.6 percent from the October average. This is the fifth consecutive month that this index has declined. Preliminary information on December sales indicates that the HPI might have lost another 0.8 percent during that month. When the market peaked in June 2006 the total value of the U.S. housing inventory covered by LPS was $10.8 trillion. The value has declined 30.6 percent to $7.5 trillion since that time. Price changes were consistent across the country, increasing in 13 percent of the ZIP Codes in…(<a href="http://www.mortgagenewsdaily.com/02022012_home_prices.asp”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>MBS Commentary

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 104-03 : +0-05 FNMA 4.0 105-25 : +0-02 FNMA 4.5 106-29 : +0-00 FNMA 5.0 108-01 : +0-00 GNMA 3.5 105-14 : +0-05 GNMA 4.0 107-31 : +0-03 GNMA 4.5 109-07 : +0-01 GNMA 5.0 110-30 : +0-02 FHLMC 3.5 103-27 : +0-03 FHLMC 4.0 105-14 : +0-01 FHLMC 4.5 106-12 : -0-01 FHLMC 5.0 107-19 : +0-00 Pricing as of 4:04 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 1:55PM : Google mortgage Rate Search Discontinued Google: "Google Advisor mortgages has been discontinued We’ve been prioritizing our product efforts across Google, which means taking a hard look at products that haven’t been as successful as we would have hoped. To that end, we’ve closed down the mortgage…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/245995.aspx”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>MBS Commentary

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-30 : +0-02 FNMA 4.0 105-23 : +0-01 FNMA 4.5 106-29 : +0-02 FNMA 5.0 108-01 : +0-02 GNMA 3.5 105-08 : +0-01 GNMA 4.0 107-27 : +0-01 GNMA 4.5 109-06 : +0-00 GNMA 5.0 110-28 : +0-03 FHLMC 3.5 103-23 : +0-01 FHLMC 4.0 105-12 : -0-02 FHLMC 4.5 106-12 : +0-01 FHLMC 5.0 107-19 : +0-01 Pricing as of 4:04 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 1:29PM : ALERT: Positive Reprices Not Out of The Question. MBS Test New Highs Although it doesn't look like Fannie 3.5's will add more than a tick or two onto the all time high levels that have provided such a firm ceiling for the past 3 sessions, new highs are new highs. And of course, these are all-time…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/245763.aspx”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/news/”>MND NewsWire

Saying that the housing crisis struck right at the heart of what it means to be middle class, President Barack Obama has begun to flesh out the housing-related proposals he made in his State of the Union speech last Tuesday. He spoke this morning at Falls Church, Virginia about his housing plans, some pieces of which have already been put into effect by the Departments of Justice (DOJ), Treasury, and Housing and Urban Development (HUD) in the eight days since they were first announced. The President spoke only briefly and most of the information about his proposals comes from a Fact Sheet released by the White House just before his speech. The most ambitious part of the Administration’s housing plan is the expansion of several existing programs to streamline refinancing for homeowners with…(<a href="http://www.mortgagenewsdaily.com/02012012_administrations_housing_plans.asp”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>MBS Commentary

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-27 : +0-05 FNMA 4.0 105-22 : +0-03 FNMA 4.5 106-26 : +0-01 FNMA 5.0 107-30 : -0-02 GNMA 3.5 105-07 : +0-05 GNMA 4.0 107-26 : +0-04 GNMA 4.5 109-05 : +0-00 GNMA 5.0 110-24 : +0-01 FHLMC 3.5 103-22 : +0-06 FHLMC 4.0 105-13 : +0-03 FHLMC 4.5 106-12 : +0-02 FHLMC 5.0 107-19 : -0-02 Pricing as of 4:00 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 12:27PM : ALERT: Potential Price Improvements as MBS Hit Highs With Fannie 3.5's up 6 ticks on the day now to 103-28, MBS prices are high enough that we could see the characteristically early-to-reprice lenders coming out with improved rate sheets. Gains would have to hold current levels or make continued progress…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/245523.aspx”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/news/”>MND NewsWire

Home prices continued to fall in November according to the S&P/Case-Shiller Home Price Indices released this morning. Both the 10-City and the 20-City Indices were down 1.3 percent in November compared to the previous month and for the second month in a row19 of the cities also saw their prices inch lower. Phoenix was the only one of the 20 to post a gain in November. The year-over-year price declines in November widened from those in October. The 10-City and 20-City Composites were down 3.6 percent and 3.7 percent respectively from November 2010 to November 2011 compared to the -3.2 percent and -3.4 percent annual rate of change in October. Thirteen of the cities in the larger index also saw a large drop in annual prices than they had in October. Atlanta had the worst performance with…(<a href="http://www.mortgagenewsdaily.com/01312012_home_prices_case_shiller.asp”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>MBS Commentary

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-22 : +0-00 FNMA 4.0 105-19 : +0-00 FNMA 4.5 106-26 : +0-02 FNMA 5.0 108-00 : +0-01 GNMA 3.5 105-02 : -0-01 GNMA 4.0 107-22 : -0-01 GNMA 4.5 109-05 : -0-02 GNMA 5.0 110-24 : +0-00 FHLMC 3.5 103-16 : +0-00 FHLMC 4.0 105-10 : -0-01 FHLMC 4.5 106-10 : +0-03 FHLMC 5.0 107-20 : +0-05 Pricing as of 4:00 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 3:41PM : ALERT: After "Pin Drop Quiet" Day, MBS Weaken Slightly. Infinitesimal Reprice Risk It's almost as if markets slept in for the next 4 days of the week after the morning alarm indicated that Greece's bond-swap negotiations were still in limbo. We could well imagine the potentially interested…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/245315.aspx”>read more)

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Posted To: <a href="http://www.mortgagenewsdaily.com/consumer_rates/”>mortgage Rate Watch

It’s happened before and it happened again today: mortgages Rates hit new all time lows today. Please note, that the actual interest rate you would have been quoted last week and this week may not have changed, but based on raw data from more than 20 leading lenders as well as feedback from the MBS Live community, the average Best-Execution rate, before rounding to the nearest eighth, hit its lowest level on record, 3.81%. Although 3.81% is closer to 3.75% than 3.875%, we won’t declare 3.75% to be the Best-Execution champ until the average from our lender survey falls to 3.75 or lower, and we’re not there yet. (if the last paragraph is confusing, we went into some more detail on these methodologies in THIS POST). Last week, we noted a high degree of stratification in rates as lenders responded…(<a href="http://www.mortgagenewsdaily.com/consumer_rates/245292.aspx”>read more)

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