This is from the mortgage market guide today - Orange County Loan Officer Current Trend Direction: Sideways Risks favor: Carefully Floating Current Price of FNMA 4.5% Bond: $100.38, +9bp The Bond market got a boost this morning after ADP reported that according to their research, there were 23
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03/31/2010
This is from the mortgage market guide today - Orange County Loan Officer Current Trend Direction: Sideways Risks favor: Carefully Floating Current Price of FNMA 4.5% Bond: $100.38, +9bp The Bond market got a boost this morning after ADP reported that according to their research, there were 23
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03/31/2010
Chairman of the House Financial Services Committee Barney Frank has sent letters to leading loan servicers calling on them to further address the problem of second liens impeding loan modifications and other foreclosure alternatives. While the number of successful loan modifications run through
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03/29/2010
Last Thursday, Governor Schwarzenegger signed a new homebuyer tax credit into law, providing $200 million for first time buyers and buyers purchasing brand new homes. As part of his California Jobs Initiative program, Schwarzenegger believes that the new tax credit will spur job creation by promo
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03/29/2010
Bank of America is being sued by two homeowners in Washington State who claim that the bank has intentionally denied homeowners loan modifications in order to preserve its own financial interests. Steve Berman, representing the plaintiffs in the lawsuit, says that despite taking in massive bailo
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03/29/2010
Bank of America is being sued by two homeowners in Washington State who claim that the bank has intentionally denied homeowners loan modifications in order to preserve its own financial interests. Steve Berman, representing the plaintiffs in the lawsuit, says that despite taking in massive bailo
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03/29/2010
Last week Chase announced it had decided to join the Home Affordable Modification Program’s second lien modification program, also known as 2MP. This makes Chase the third major loan servicer to join the program, along with Wells Fargo and Bank of America. The 2MP program is designed to offer mod
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03/29/2010
This is taken directly from the mortgage market guide: Current Price of FNMA 4.5% Bond: $100.38, +25bp Mortgage Bonds have traded in a wild 150bp range from Tuesday's intraday high price to yesterday's intraday low...and with the final days of the Fed's Mortgage Backed Security buying program in
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03/26/2010
From December 2009 to February 2010 housing prices have dropped 0.6%, according to the Federal Housing Finance Agency. FHFA estimates the drop in housing prices is due to hesitation and a slowing in home sales brought on by a fear of a “double-dip” in housing prices. With mortgage originations an
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03/24/2010
In some cases, no news is good news. In this case, we still have some news, but it's quiet stuff-the ingredients that make for a gradually advancing stock market, and for interest rates that are merrily treading water as spring approaches. The DJIA began Monday, March 15, at 10624.69. It ended th
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03/22/2010
