Mortgage Roundup: April 2013

Thursday, April 18, 2013

the Country's in the Very Best of Hands: Foreclosure Settlement...

... Tuesday, some of the first people to receive payouts under the $9.2 billion deal between federal regulators and the mortgage industry called into a government hotline to report that their bank would not cash their check." Problem fixed now, but as ...

http://pjmedia.com/instapundit/167305/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+instapundit%2Fpodcast+%28Instapundit+Podcast%29

Over valuation claim against lender dropped

... on the value and anticipated rent return of the property in Cobham, Surrey. Mr Scullion had applied for a A 283,000 mortgage against the A 353,000 purchase price, which the valuation agreed with. The valuer's report also indicated an expected rent ...

http://www.landlordzone.co.uk/blog/news/over-valuation-claim-against-lender-dropped

Fewer underwater mortgages could mean highest prices since boom years

From the April issue: Home equity is back! And it's growing fast: According to the latest data from the Federal Reserve, Americans' net equity holdings in their homes jumped by nearly half a trillion dollars during the last three months of 2012, and have increased by $1.7 trillion since the spring of 2011.

http://therealdeal.com/blog/2013/04/18/fewer-underwater-mortgages-could-mean-highest-prices-since-boom-years/

Personal insolvency guide launched

... at the end of which they will still be no debt write off bonanza and borrowers will still have to pay off the mortgage, though this will be limited to the value of one's house with only negative equity forgiven. There will be a number of strict ...

http://www.businessworld.ie/livenews.htm?a=3055515

Personal Insolvency: No debt let-off

... levels of disposable income, and then recommencing one's life at the end of this period still encumbered with a mortgage, however the mortgage will be limited to the value of one's home. All that will be forgiven is the negative equity in a mortgage ...

http://www.businessworld.ie/livenews.htm?a=3055483

Homebuying surge continues, reports say

Two new reports suggest the hot residential real estate market continues to surge nationally. And one local mortgage company says the trend is the same in Sacramento. Two new reports suggest the hot residential real estate market continues to surge ...

http://www.bizjournals.com/sacramento/news/2013/04/18/homebuying-surge-continues-reports-say.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_10+%28Venture+Capital+Industry+News%29

Spain approves new eviction law

- Spain's parliament has approved a new mortgage law it hopes will calm a national outcry over the dramatic increase in evictions in recent years but anti-eviction lobbyists said the law was insufficient. The bill was approved Thursday on the ...

http://www.ledger-enquirer.com/2013/04/18/2469168/spain-approves-new-eviction-law.html#storylink=rss

Churchill Mortgage Adds 16 Employees, More Than 150 Years of Industry Expertise to Multiple Branches

Churchill Mortgage , a leader in the mortgage industry providing conventional, FHA, VA and USDA residential mortgages across 26 states, announced the addition of 16 new employees to its branches in Tennessee, Texas, Virginia and Washington State, adding more than 150 years of combined industry experience.

http://www.businesswire.com/news/topix/20130418005774/en

Bring Bank of America Back to Lending

HR 1077 Introduced Richard M. Bettencourt, the new government affairs chair of the National Association of Mortgage Brokers, discusses HR 1077 and other events from the group's legislative conference.

http://www.nationalmortgagenews.com/national-real-estate-post/?id=1035784

Fixed Rates Get a Little Lower in Freddie Survey

FHFA Working on New Private MI Standards

Loan Demand Picks Up Steam

Mortgage applications rose 5 percent last week as mortgage rates declined, the Mortgage Bankers Association reported in its weekly mortgage market survey for the week ending April 12, which was released Wednesday.

http://realtormag.realtor.org/daily-news/2013/04/17/loan-demand-picks-up-steam

Regional bank Fifth Third Bancorp profit dips

... company history,' said Kabat, who pointed to strength in commercial and industrial lending and also in residential mortgage loans. Fifth Third has been rebounding from the effects of the hard-hit housing market during the recession, especially in ...

http://www.freep.com/article/20130418/BUSINESS/304180123/1002/business

Mortgage relief checks go out, only to bounce

Relief checks issued as part of a multibillion-dollar settlement over foreclosure abuses have bounced, an unfortunate twist for consumers who have already been caught up in problems over reviews of troubled mortgage loans.

http://www.telegram.com/article/20130418/NEWS/304188839/1237

Obama considering economist Zandi to head U.S. housing regulator

... readers. WASHINGTON, April 18 (Reuters) - President Barack Obama is preparing to name a new regulator to oversee mortgage financiers Fannie Mae and Freddie Mac, and economist Mark Zandi is at the top of the list of candidates, according to people ...

http://www.theglobeandmail.com/try-it-now/try-it-now-rob-insight/?contentRedirect=true&articleId=11366892

Median San Diego Home Price Up Nearly 20%

... market's sidelines waiting to be sure the recovery was real." A gradual shift occurred as the economy picked up and mortgage rates fell to historic lows, which coincided with increased demand, especially in middle and higher-priced neighborhoods ...

http://ranchobernardo-4sranch.patch.com/articles/median-san-diego-home-price-up-nearly-20

UPDATE 1-Lacker- Fed should mull stopping mortgage bond purchases

The Federal Reserve should consider halting its purchases of mortgage bonds as the U.S. housing market recovers, Richmond Fed President Jeffrey Lacker said on Thursday.

http://www.reuters.com/article/2013/04/18/usa-fed-lacker-idUSL2N0D50ZI20130418?feedType=RSS&feedName=bondsNews

30-year mortgage rate declines to 3.41%

The average rate on the 30-year fixed-rate mortgage declined to 3.41% in the week ending April 18 from 3.43% in the prior week, remaining close to a record low, Freddie Mac said Thursday in its weekly report.

http://www.marketwatch.com/story/30-year-mortgage-rate-declines-to-341-2013-04-18-1091010?siteid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A%20marketwatch%2Fmarketpulse%20(MarketWatch.com%20-%20MarketPulse)

Bank Of America To Settle In Class Action Lawsuit

Bank of America has agreed to pay $500 million to settle a class action lawsuit brought by investors who bought mortgage investments from Countrywide Financial.

http://rochesterhomepage.net/fulltext?nxd_id=383962

Millennials get houses before getting hitched

There's love and marriage and then there's love and a mortgage. Millennial couples are more likely to buy a house together before they take their wedding vows than their parents and grandparents were, according to a new Coldwell Banker Real Estate survey.

http://www.wisinfo.com/apps/pbcs.dll/article?AID=2013304180273

Sonoma County home sales slow in March

... The latter include bank-owned foreclosures and short sales, where the sales price is less than the amount of the mortgage. Among homes with equity, activity is up in the county this year. New listings in this segment rose 14 percent for the first ...

http://www.petaluma360.com/article/20130417/BUSINESS/130419561/0/PT07

Bank Of America: Buy A Dollar For Around 85 Cents

... will exceed this amount because BAC is becoming more capital efficient in its business as, for example, the legacy mortgage, structured credit, and private equity portfolios run off; this is referred to as risk-weighted assets or RWA mitigation). ...

http://seekingalpha.com/article/1350851-bank-of-america-buy-a-dollar-for-around-85-cents?source=feed

Shares of HXM Down 53.9% Since Downtrend Call on Shares

SmarTrend identified a Downtrend for Desarrolladora Homex SAB de CV on February 12th, 2013 at $12.68. In approximately 2 months, Desarrolladora Homex SAB de CV has returned 53.93% as of today's recent price of $5.84. Over the past year, Desarrolladora Homex SAB de CV has traded in a range of $5.51 to $17.75 and is now at $5.84, 6% above that low.

http://technews.tmcnet.com/news/2013/04/18/7072441.htm

Mortgage rates near record lows

Long-term mortgage rates have fallen for the third straight week, and the average rate on a 30-year fixed-rate mortgage is nearing its all-time low.

http://www.bizjournals.com/washington/breaking_ground/2013/04/mortgage-rates-near-record-lows.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_washington+%28Washington+Business+Journal%29

UBS Investor Watch Finds Confidence Improves as Investors Redefine Risk

... believing there is "good debt" and "bad debt." "Good debt" is associated with making a sound investment, such as a mortgage on a primary home, paying for education or short-term borrowing to avoid selling an asset that is expected to appreciate or ...

http://www.businesswire.com/portal/site/topix/index.jsp?ndmViewId=news_view&newsId=20130418005288&newsLang=en&ndmConfigId=1000639&vnsId=41

Fitch: Spike in Starts a Sign That U.S. Housing is Now Thriving

... gained market share last year and are poised to follow suit in 2013. What's more, still-attractive home prices, low mortgage rates and a rise in nominal incomes are resulting in superior affordability and valuations,' said Managing Director and lead ...

http://www.businesswire.com/portal/site/topix/index.jsp?ndmViewId=news_view&newsId=20130418005859&newsLang=en&ndmConfigId=1000639&vnsId=41

Sveriges Bostadsfin UK Regulatory Announcement: SBAB Bank: Decisions...

At the Annual General Meeting of SBAB Bank AB this Thursday, Board Members Per Anders Fasth, Jakob Grinbaum, Ebba Lindso, Karin Moberg and Christer Aberg were re-elected. The AGM elected Bo Magnusson, Kristina Ekengren and Jane Lundgren-Ericsson as new Board Members.

http://www.businesswire.com/portal/site/topix/index.jsp?ndmViewId=news_view&newsId=20130418005868&newsLang=en&ndmConfigId=1000639&vnsId=41

You're kidding, right? Foreclosure settlement checks bounce

... the incident won't do much to bolster consumer confidence. The settlement was announced April 12 and involved 13 mortgage servicers. Checks were sent to more than 4 million borrowers and about 500,000 have already been cashed, according to the ...

http://www.bizjournals.com/portland/morning_call/2013/04/youre-kidding-right-mortgage-relief-c.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_54+%28Residential+Real+Estate+Industry+News%29

BofA Countrywide settlement offers redemption for PERS

... nationwide. The lawsuits, including one filed by PERS, alleged that Countrywide misled investors into buying risky mortgage-backed securities prior to the market crash. The typical recovery in securities class action cases, according to the state ...

http://www.bizjournals.com/portland/morning_call/2013/04/bofa-countrywide-settlement-offers-some.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_54+%28Residential+Real+Estate+Industry+News%29

Churchill Mortgage Adds 16 Employees, More Than 150 Years of Industry Expertise to Multiple Branches

Labour incompetence lets down first time buyers in Wales.

... How? Because the recent budget contained an announcement that the Government would roll out a A 130bn Help-to-Buy mortgage guarantee scheme to help UK buyers get on to the housing ladder from next year. As a result, says Mr Sargeant, "The ...

http://aberdareonline.co.uk/content/labour-incompetence-lets-down-first-time-buyers-wales

Lone Star, Wells Fargo in talks to buy Eurohypo portfolio: source

... put up for sale by Commerzbank ( Germany's second-largest lender is selling the UK property loans business of its mortgage unit Hypothekenbank Frankfurt International, formerly known as Eurohypo as a way to cut down the size of its balance sheet. ...

http://www.reuters.com/article/2013/04/18/us-commerzbank-eurohypo-lonestar-idUSBRE93H0J920130418?feedType=RSS&feedName=innovationNews

Horror in Middle-Class Paradise as Tishman, BlackRock Bungle Deal: Books

... tale: The buyers had only a small equity stake in the deal, and the lenders had little risk. After mortgage money was raised for the purchase, the mortgages were bundled and sold off. "With no stake in the mortgage, the banks had little financial ...

http://www.bloomberg.com/news/2013-04-18/horror-in-paradise-as-tishman-blackrock-bungle-deal.html

Surge in new home inquiries

... year," he said. Alongside this initiative, Persimmon is also working with the government to develop the Government Mortgage Guarantee Scheme, which is to be launched from January 1. This scheme is expected to help lenders provide greater access to ...

http://www.kentonline.co.uk/kent_business/home/2013/april/18/new_home_inquiries.aspx

Southern California washes away foreclosure impact

... John Walsh, DataQuick president. He added, "But gradually the psychology shifted as the economy picked up steam and mortgage rates fell to historic lows. We're seeing the release of a lot of pent-up demand, especially in the middle and higher-priced ...

http://www.housingwire.com/news/2013/04/17/southern-california-washes-away-foreclosure-impact?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29

Mortgage lender Equitable Group has curb appeal

Toronto-based niche mortgage lender Equitable Group Inc. has a $600-million market cap, and in addition to the mortgage business it has deposit services and is a provider of Guaranteed Investment Certificates.

http://www.theglobeandmail.com/globe-investor/investment-ideas/mortgage-lender-equitable-group-has-curb-appeal/article11366599/?cmpid=rss1

Is London's property market about to grind to a halt?

... market became increasingly reliant on borrowed money. According to Cluttons, 74 per cent of buyers bought with a mortgage in 2012, up from 49 per cent in 2011. Perversely, the EU's rules might actually make it easier for some bankers to buy high-end ...

http://www.newstatesman.com/business/2013/04/londons-property-market-about-grind-halt

CFPB Will Face Senate Banking Committee Next Week, Will Likely Face...

... expenditure," an anonymous senior banking industry official told Politico. The agency, founded in the wake of the mortgage meltdown and the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act , contends that in order to carry out its ...

http://au.ibtimes.com/articles/458741/20130418/cfpb-richard-cordray-senate-hearing-senate-banking-committee-hears-cfpb-director-is-the-cfpb-collect.htm

Wells Fargo Asks Judge to Dismiss U.S. Mortgage Loans Suit

Source: Bloomberg News Wells Fargo & Co. asked a judge to dismiss a suit by the U.S. government claiming the bank made reckless mortgage loans that caused losses for a federal insurance program.

http://www.democraticunderground.com/1014458080

Bankrate: Mortgage Rates Slump for 5th Straight Week

The average 30-year fixed mortgage has an average of 0.32 discount and origination points.

http://www.prnewswire.com/news-releases/bankrate-mortgage-rates-slump-for-5th-straight-week-203569031.html

Foreclosures up in Westchester in First Quarter: County Clerk

... Opportunities (WRO), a non-profit housing agency with offices in White Plains and Mount Vernon, conducts Mortgage Default Orientation sessions most . For more information on the Office of the Westchester County Clerk, please visit ...

http://www.WhitePlainsCNR.com/modules.php?name=News&file=article&sid=9574

Are VA Loans Assumable

When interest rates rise, many people become interested in assumable loans because loans taken out in the past are at a lower interest rate than you can currently get a mortgage for.

http://www.blownmortgage.com/are-va-loans-assumable

LRES Introduces Enhanced Workflow Management Capabilities to Vendor Portal Website for Appraisers

LRES , a national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries, announced new features to its vendor portal website designed to enable licensed appraisers the ability to manage their residential and commercial property appraisal orders more efficiently.

http://www.businesswire.com/news/topix/20130418005799/en

Losers List: Parker Drilling Company, Prospect Global Resources Inc,...

... Corp(NYSE:TWO) went down 2.93% and closed at $11.59.Two Harbors Investment Corp. released a webinar titled "Mortgage REIT Primer." The webinar provides general information about real estate investments trusts, mortgage REITs and Two Harbors' ...

http://www.sbwire.com/press-releases/losers-list-parker-drilling-company-prospect-global-resources-inc-two-harbors-investment-corp-forest-oil-corporation-239560.htm

Home Loan Servicing Solutions Ltd (HLSS) Releases Quarterly Earnings, Beats Estimates By $0.01 EPS

... ratio of 14.41. Home Loan Servicing Solutions, Ltd is a development-stage company. The Company is formed to acquire mortgage servicing assets, primarily subprime and Alt-A mortgage servicing rights and associated servicing advances.

http://www.americanbankingnews.com/2013/04/18/home-loan-servicing-solutions-ltd-hlss-releases-quarterly-earnings-beats-estimates-by-0-01-eps/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+AmericanBankingNews+%28American+Banking+News%29

Penny Stocks in Spot Light - Medinah Minerals Inc,Freddie Mac PFD Z, X-Change Corp,SaviCorp

... of +56.49%. Along with these, its year to date performance remained progressive+183.53%.Federal Home Loan Mortgage Corporation provides credit guarantee for residential mortgages originated by mortgage lenders and invests in mortgage loans and ...

http://www.sbwire.com/press-releases/penny-stocks-in-spot-light-medinah-minerals-incfreddie-mac-pfd-z-x-change-corpsavicorp-239580.htm

First Internet Bancorp Reports First Quarter Financial Results

... with $67.33 million at March 31, 2012. Net interest income after provision for loan loss, reflecting retained mortgage and commercial loan growth and lower interest expense, was $3.68 million in first quarter 2013 compared with $3.36 million in ...

http://www.businesswire.com/news/topix/20130418005786/en

Real Estate Report: HARP to continue for another year

... allows homeowners to refinance without the typical equity requirements. In most cases, the appraisal is waived and mortgage insurance may not be required. Many lenders were hesitant to participate until recently, when FHFA loosened the buy back ...

http://www.eveningsun.com/localbiz/ci_23051686/real-estate-report-harp-continue-another-year

UBS Investor Watch Finds Confidence Improves as Investors Redefine Risk

... believing there is "good debt" and "bad debt." "Good debt" is associated with making a sound investment, such as a mortgage on a primary home, paying for education or short-term borrowing to avoid selling an asset that is expected to appreciate or ...

http://www.businesswire.com/news/home/20130418005288/en/UBS-Investor-Watch-Finds-Confidence-Improves-Investors

CBRE Group, Inc. Announces First Quarter 2013 Earnings Conference Call and Webcast

... and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our ...

http://www.businesswire.com/news/topix/20130418005465/en

Wednesday, April 17, 2013

Bank of America profits jump six-fold

... The bank also reported lower revenues and profits in its consumer real estate services division due to lower mortgage banking income. "We reduced non-interest expense by nearly $1 billion year-over-year, and credit costs continued to decline," he ...

http://au.news.yahoo.com/thewest/business/a/-/world/16781506/bank-of-america-profits-jump-six-fold/

BofA Earnings Up Nearly Seven Times From Last Year

... at a Bank of America ATM office in Boston. Bank of America Corp. says it will spend more than $10 billion to settle mortgage claims resulting from the housing meltdown. Under the deal announced Monday, Jan. 7, 2013, the bank will pay $3.6 billion to ...

http://www.huffingtonpost.com/2013/04/17/bank-of-america-q1-2013-earnings_n_3099126.html?utm_hp_ref=business&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+HP%2FBusiness+%28Business+on+The+Huffington+Post%29

Weak earnings, falling oil prices push stocks down

... also said that it had agreed to pay $500 million to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, a lender it acquired in 2008. Energy stocks dropped 1.9 percent, the most of the 10 ...

http://www.wdbo.com/ap/ap/top-news/weak-earnings-falling-oil-prices-push-stocks-down/nXN8C/

Want that $1 million home? Better have one year of cash reserves

... down payments of at least 20 percent and prove they have enough reserves on hand to cover at least one full year of mortgage payments, The Wall Street Journal reported. The requirements increase with the size of the loans. Bank of America, for ...

http://www.bizjournals.com/baltimore/blog/real-estate/2013/04/want-that-1-million-home-better-have.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_baltimore+%28Baltimore+Business+Journal%29

Bank of Canada maintains overnight rate target at 1 per cent

... agricultural prices to consumer prices. Total CPI inflation has been restrained by low core inflation and declining mortgage interest costs, with some offset from higher gasoline prices. Both total and core inflation are expected to remain subdued ...

http://www.newswire.ca/en/story/1147607/bank-of-canada-maintains-overnight-rate-target-at-1-per-cent

Stocks slump on weak earnings

Higher investment banking revenue was offset by lower mortgage banking income. bounced back after opening lower, one day after the company reported lousy first-quarter sales and issued a downbeat outlook.

http://money.cnn.com/2013/04/17/investing/stocks-markets/index.html?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29

Bank of America Cuts Most Workers in First Quarter to Trim Costs

... at the height of the financial crisis. Moynihan told analysts on Jan. 17 that the bank will slice deeper into its mortgage team. "There's nothing more important in our company than getting this done as quickly as possible," he said. Bank of America, ...

http://washpost.bloomberg.com/Story?docId=1376-MLD3MM1A1I4G01-6HH5LULC6OLGTTPOCE29KI74F4

Bank of America to settle mortgage investors' class-action

NEW YORK - Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008.

http://www.arkansasonline.com/news/2013/apr/17/bank-america-settle-mortgage-investors-class-actio/

Bank of America profit jumps to $2.25 billion

... in loan growth to small businesses and middle-market companies, four straight quarters of steady growth in mortgage originations, record earnings in wealth management, and another quarter near the top in investment banking fees show we are balanced, ...

http://www.bizjournals.com/charlotte/blog/bank_notes/2013/04/bank-of-america-profit-jumps-to-225.html

Bank of America will settle class-action mortgage suit

Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial , the California-based lender it acquired in 2008.

http://www.oregonlive.com/business/index.ssf/2013/04/bank_of_america_will_settle_cl.html

Wells Fargo and mortgage crisis fallout

By Scott Blake With Miami's housing market still reeling from the mortgage crisis, Wells Fargo Bank is working from both sides of the fallout.

http://www.miamitodaynews.com/news/130418/story6.shtml

IMF urges Fed, central banks to monitor stimulus

... lows at least until unemployment falls to 6.5 percent. And it is purchasing $85 billion a month in Treasury and mortgage bonds to lower long-term rates and encouraging more borrowing. The effect on interest rates has also encouraged investors to ...

http://cnsnews.com/news/article/imf-urges-fed-central-banks-monitor-stimulus

Help scheme for homebuyers dropped

... UK Treasury on exactly how the Help to Buy scheme would apply in Wales. She said part of Help to Buy, offering a mortgage guarantee to make more home loans more available for people with small deposits, was to be made available in Wales. But Ms ...

http://www.bbc.co.uk/news/uk-wales-22189232#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa

I.M.F. Urges Fed and Others to Monitor Stimulus

... futures are down 98 points to 14,587. SP futures have lost 12.1 points to ... BofA Misses Estimates as Lower Mortgage Income Crimps Results Bloomberg Bank of America Corp. reported a jump in first-quarter profit that missed some analysts' ...

http://www.mortgagenewsdaily.com/channels/aroundtheweb/archive/2013/4/17.aspx#304761

Federal Reserve provides information on checks sent under Independent ...

... - MERSCORP Holdings, Inc. today announced that the Court of Appeals for the State of Georgia has ruled in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and other defendants, by affirming two separate lower court decisions that had ...

http://www.mortgagenewsdaily.com/channels/aroundtheweb/archive/2013/4/17.aspx#304759

Research Analysts' Ratings Reiterations for April, 17th (AMCX,...

... on NII as the company continues to take a long-term view and has been unwilling to add new fixed residential mortgage into portfolio at historically low interest rates. Consequently, loans contracted at a 10% annualized pace, which contributed to ...

http://www.americanbankingnews.com/2013/04/17/research-analysts-ratings-reiterations-for-april-17th-amcx-apa-ascma-bg-cpg-cth-goog-hban-hl-hsp/

Want that $1 million home? Better have one year of cash reserves

... down payments of at least 20 percent and prove they have enough reserves on hand to cover at least one full year of mortgage payments, The Wall Street Journal reported. The requirements increase with the size of the loans. Bank of America , for ...

http://www.bizjournals.com/baltimore/blog/real-estate/2013/04/want-that-1-million-home-better-have.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_2+%28Commercial+Banking+Industry+News%29

Fed-foreclosed borrowers had problems cashing settlement checks

... have already cashed or deposited checks related to the agreement reached by federal bank regulatory agencies and 13 mortgage servicers, the Fed said. Some 4.2 million borrowers are eligible to receive payments. "The Board will continue to monitor ...

http://www.reuters.com/article/2013/04/17/usa-banks-foreclosure-settlement-idUSL2N0D40QA20130417?feedType=RSS&feedName=bondsNews

UPDATE 1-Canadian house prices rise 0.4 pct in March from Feb - Teranet

... regained some strength in March after a long slow winter of decline following the government's move to tighten mortgage lending rules in July 2012. Residential real estate activity typically picks up in the spring, and economists have been waiting ...

http://www.reuters.com/article/2013/04/17/canada-economy-housing-idUSL2N0D40R220130417?feedType=RSS&feedName=bondsNews

Chicago Equity Partners Hires Paul LaCoursiere as Fixed Income...

... J. Budd has been promoted to Managing Director. Budd is a Senior Fixed Income Portfolio Manager specializing in the mortgage, asset-backed, and agency sectors. He is a founding member of the Fixed Income team and is responsible for developing the ...

http://www.businesswire.com/news/topix/20130417005093/en

Greystonea s Chicago Office Originates 19 Fannie Mae Loans in Q1 2013

Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that the firm's Chicago office has originated 19 multifamily Fannie Mae loans in the first quarter of 2013 through the company's Delegated Underwriting and Servicing platform.

http://www.businesswire.com/news/topix/20130417005087/en

Bank of America profit jumps to $2.25 billion, is shy of expectations

... in loan growth to small businesses and middle-market companies, four straight quarters of steady growth in mortgage originations, record earnings in wealth management, and another quarter near the top in investment banking fees show we are balanced, ...

http://www.bizjournals.com/seattle/morning_call/2013/04/bank-of-america-profit-jumps-to-225.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_6+%28Investing+Industry+News%29

Carney Keeps Rate-Increase Bias While Chopping Forecast

... signs of "overbuilding" of multiple-unit housing in some cities, it said. Flaherty has acted four times to make mortgage lending rules more restrictive on concern that Vancouver and Toronto markets were overheating. His March 21 budget also outlined ...

http://www.bloomberg.com/news/2013-04-17/carney-keeps-rate-increase-bias-while-chopping-forecast.html

CEO: Riskier lending 'ain't gonna happen' at U.S. Bank despite rev drop

... and May.) The revenue drop - down 1.1 percent from Q1 2012 and 4.7 percent from Q4 2012 - came primarily from lower mortgage fee income and seasonal effects on other fees, Davis said. Despite the mortgage business slowdown, the bank sees continued ...

http://www.bizjournals.com/denver/news/2013/04/17/ceo-riskier-lending-aint-gonna.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_6+%28Investing+Industry+News%29

PNC: 1Q growth may be tough to sustain

... operations "to a sustainable size," building its wealth and investing initiatives as well as its institutional and mortgage businesses. "Long-term, over years," Demchak said, PNC must "rebuild and rethink the retail business." PNC closed 30 branches ...

http://www.bizjournals.com/pittsburgh/news/2013/04/17/pnc-1q-growth-may-be-tough-to-sustain.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_6+%28Investing+Industry+News%29

DataQuick Helps Lenders Identify Key Prospective Borrowers With New Customer Acquisition Solutions

)-- DataQuickA , a Mortgage Technology Top 50 service provider , has segmented its National Property Database into targeted prospect files enabling lenders, marketing managers and business development associates to more accurately identify home ...

http://eon.businesswire.com/news/eon/20130417005875/en/DataQuick-Helps-Lenders-Identify-Key-Prospective-Borrowers

Labour let down first time buyers

The Welsh Housing Minister told an Assembly Committee today that a mortgage guarantee scheme, that has been under development for over a year, is being abandoned because the housebuilders they were working with on it have pulled out.

http://peterblack.blogspot.com/2013/04/labour-let-down-first-time-buyers.html

BofA posts 1Q profit, mortgage originations show signs of life

... improved credit quality across all portfolios and higher investment banking fees. The company reported lower mortgage banking income for the period, but also said first-lien mortgage production rose 57% from a year earlier reaching a total of $24 ...

http://www.housingwire.com/news/2013/04/17/bofa-posts-1q-profit-mortgage-banking-mixed-bag

Five Ten Capital Announces $100mm Funding Agreement with Deutsche Bank

... Five Ten currently operates, Five Ten expects to expand into Texas and Missouri with this additional funding. "The mortgage-backed securities market has proven through time to be an efficient and vital source of real estate financing, and we believe ...

http://eon.businesswire.com/news/eon/20130417005373/en/Ten-Capital-Announces-100mm-Funding-Agreement-Deutsche

Google Accounts - Server Error

... lectures on FHA borrowing, credit, asset and home-buying best practices, and has written more than 500 articles on mortgage lending and borrowing. Robert administers all consumer real estate transactions for Southwest...

http://www.examiner.com/article/google-accounts-server-error?cid=rss

When Renting Makes More Sense Than Owning

A couple of years ago, three to be exact, my youngest son was finishing up college and my wife suggested to me that she'd like to downsize our primary residence.

http://www.biggerpockets.com/renewsblog/2013/04/17/renting-owning/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+RealEstateNewsForReal+%28Real+Estate+News+For+Real+%7C+A+BiggerPockets+Blog%29

Penny Stock Runners - Pta Holdings in (Pink:Ptah), Freddie Mac PFD Z...

... beta value stands at 1.26 times.FREDDIE MAC PFD Zprovides credit guarantee for residential mortgages originated by mortgage lenders and invests in mortgage loans and mortgage-related securities in the United States. For How Long FMCKJ's Gloss will ...

http://www.sbwire.com/press-releases/penny-stock-runners-pta-holdings-in-pinkptah-freddie-mac-pfd-z-otcfmckj-carbon-credits-international-inc-pinkcarn-force-energy-corp-pinkforc-238963.htm

Investor's Picks - Catalyst Resource Group, Inc. (PINK:CATA),...

... million shares for the day, in comparison to its average trading volume of 11.08 million shares.Expert Group Inca mortgage broker, provides mortgages on commercial and personal real property. For How Long EXPU will fight for Profitability? Read This ...

http://www.sbwire.com/press-releases/investors-picks-catalyst-resource-group-inc-pinkcata-harmonic-energy-inc-pinkasuv-expert-group-inc-pinkexpu-baristas-coffee-co-pinkbcci-238979.htm

Movers to Watch - Fannie Mae PFD S (Otc:Fnmas), Central European...

... volume of 8.11 million shares.FANNIE MAE PFD Sprovides liquidity and stability support services in the secondary mortgage market in the United States. Has FNMAS Found The Bottom and Ready To Move Up? Find Out Here Central European Distribution Corp( ...

http://www.sbwire.com/press-releases/movers-to-watch-fannie-mae-pfd-s-otcfnmas-central-european-distribution-corp-pinkcedcq-petrosonic-energy-inc-pinkpson-mediswipe-inc-pinkmwip-238983.htm

IMF urges Fed, central banks to monitor stimulus

... lows at least until unemployment falls to 6.5 percent. And it is purchasing $85 billion a month in Treasury and mortgage bonds to lower long-term rates and encourage more borrowing and spending. The effect on interest rates has also encouraged ...

http://washingtonexaminer.com/imf-urges-fed-central-banks-to-monitor-stimulus/article/feed/2089930?custom_click=rss

First Take: Bank of America struggles in banking

... $1 billion in costs. It shed nearly 6,000 employees. Revenue rose 5.5%. But the results were weighed down by lower mortgage-banking income and lower net gains on the sales of debt securities. B. of A.'s inability to mine better conditions in the ...

http://www.marketwatch.com/story/bank-of-america-struggles-in-banking-2013-04-17?siteid=rss&rss=1

Bank of America profits rise, miss forecasts

... year. The company set aside almost $1 billion less to cover loan losses than it did in early 2012. But income from mortgage operations dropped, the company said. "Solid increases in loan growth to small businesses and middle-market companies, four ...

http://www.usatoday.com/story/money/business/2013/04/17/bank-of-america-earnings/2088955/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodaycomMoney-TopStories+%28Money+-+Top+Stories%29

Futures Falling; Bank of America, Textron Down

... the bank has been able to reduce its expenses, signs of growth amid chronically low interest rates and an ebbing mortgage market are hazy. Shares of Textron ( TXT ) are down 10% after disappointing first-quarter earnings and a full-year outlook well ...

http://blogs.barrons.com/stockstowatchtoday/2013/04/17/futures-falling-bank-of-america-textron-down/?mod=BOL_hpp_latestticker

Bank of America profit falls

Danske Bank Dungannon flicks the switch on new A 500 mortgage deal

HOUSE hunters and home owners in Dungannon could benefit from a major new campaign from Danske Bank aimed at attracting new mortgage customers and boosting the mortgage market.

http://www.midulstermail.co.uk/news/business/danske-bank-dungannon-flicks-the-switch-on-new-500-mortgage-deal-1-5006199

5 smart ways to use your tax return

... be in a great position to take advantage of depressed housing prices and non-predatory loans. If you're already a mortgage holder, paying off your mortgage principal early can help you save money in interest. Check with your mortgage lender to see ...

http://www.msnewsnow.com/story/21994706/5-smart-ways-to-use-your-tax-return

Bank of America to settle mortgage investors' class-action lawsuit

Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008.

http://www.nypost.com/p/news/business/bank_of_america_NqRJ9VuAKfwu3ERDReCpoL?

BofA in $500 million settlement with mortgage investors

Bank of America Corp has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities.

http://www.courant.com/business/sns-rt-us-countrywidefinancial-lawsuitbre93g0hf-20130417,0,3084587.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Courant%2FBusiness%2FNationWorld+%28courant.com+-+National+BUSINESS+UPDATES%29

Bank of America profit misses estimates as revenue falls

... items, from $1.7 billion. Chief Executive Brian Moynihan has made progress in building capital and settling mortgage-related lawsuits since taking over in January 2010. The bank said on Wednesday it had settled a mortgage-backed securities class ...

http://www.courant.com/business/sns-rt-us-bankofamerica-resultsbre93g0f1-20130417,0,291952.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Courant%2FBusiness%2FNationWorld+%28courant.com+-+National+BUSINESS+UPDATES%29

BofA to settle mortgage investors' class-action

- Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008. The announcement came as the nation's second biggest bank ...

http://www.newsobserver.com/2013/04/17/2831140/bank-of-americas-profit-soars.html#storylink=rss

Bank of America Down Early After Earnings Report

Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008.

http://news.investors.com/newsfeed-ap/041713-437321-bofa-to-settle-mortgage-investors-class-action.aspx?ref=HPLNews

BofA Misses Estimates as Mortgage Banking Weighs on Results

Bank of America Corp. reported first-quarter profit that missed analysts' estimates as lower mortgage banking income and higher legal costs slowed the firm's turnaround.

http://mobile.bloomberg.com/news/2013-04-17/bofa-misses-estimates-as-lower-mortgage-income-crimps-results.html?

Futures Down, Dollar Rises; Bank Of America, Yahoo Stumble

... bank cut its set-aside for loan losses by nearly a third, to $1.71 billion. Losses in its consumer real estate and mortgage banking operation widened 15% to $1.41 billion. ( YHOO ) backed off 2% in premarket action. It delivered first quarter ...

http://news.investors.com/investing-stock-market-today/041713-652213-futures-point-to-lower-open-wednesday.htm

Bank of America sees profit rise, misses estimate

Bank of America reported income of $2.62 billion in the first quarter, but missed analyst estimates amid less money coming in from mortgage banking.

http://www.bizjournals.com/phoenix/morning_call/2013/04/bank-of-america-sees-profit-rise.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_phoenix+%28Phoenix+Business+Journal%29

City residents have racked up 8m in debt crisis

... debt crisis is sweeping Oxford it is claimed, with one charity reporting its clients are A 8m in the red. A mix of mortgage arrears, credit card and overdraft charges, plus other bills contributed to the A 8m of debt presented to the charity by its ...

http://www.oxfordtimes.co.uk/news/10359039.City_residents_have_racked_up___8m_in_debt_crisis/?ref=nt

Tuesday, April 16, 2013

$25 billion offer: Dish Network bids to buy Sprint Nextel

... Dish price dipped 2.3% and closed at $36.77. Bill Belew has been a professional blogger (pays his Silicon Valley mortgage through blogging) for more than four years. His network begins with BillBelew.com and reaches more than 1.5 million people ...

http://www.examiner.com/article/25-billion-offer-dish-network-bids-to-buy-sprint-nextel

Preparing for New Wave of Mortgage Fraud

Fitch: Short Sales Drive Down RMBS Losses

Recovery Puts FDIC Loss-Sharing on Endangered List

Economics Daily Digest: Taxes? None for me, thanks

... and stepping into the water tank. Roosevelt Institute Fellow Mike Konczal writes that even as the rules for curbing mortgage abuses are being written, regulators are refusing to divulge the evidence they've gathered about those abuses. It's filed ...

http://www.dailykos.com/story/2013/04/16/1202169/-Economics-Daily-Digest-Taxes-None-for-me-thanks

Britain's finance chiefs optimistic on corporate growth

... Scheme, introduced by the Bank of England and the Treasury last summer, seems to have had more of an effect on the mortgage market than on lending conditions for smaller businesses. Deloitte's survey comes after Ernst & Young's Item Club predicted ...

http://www.livecharts.co.uk/share_prices/Britain-s-finance-chiefs-optimistic-on-corpor-news20831921.html

Home building rises to key milestone

... home building and real estate have turned around in recent months, helped by a combination of near record low mortgage rates, lower unemployment and a drop in foreclosures that has lifted home prices. As a result, sales of both previously owned ...

http://www.kcra.com/news/money/Home-building-rises-to-key-milestone/-/11797182/19766984/-/2xty0ez/-/index.html

This Day In Our Past: April 16, 1974

... photo: Watching him (from right) are Paul Thompson, head of the Mutual Housing: Willard Samms, head of the Jamaica Mortgage Bank; and Charles Campbell, head of USAID in Jamaica. - Gleaner Archives Like our new Facebook page ...

http://go-jamaica.com/news/read_article.php?id=44115

US consumer prices drop 0.2 percent on cheaper gas

... until unemployment falls at least to 6.5 percent. It is also buying about $85 billion in Treasury securities and mortgage-backed bonds in an effort to keep longer-term interest rates low and spur more borrowing and spending. However, some economists ...

http://www.telegram.com/article/20130416/NEWS/304168884/1237

DocMagic Delivers Fully Automated Income Verification

... Inc., the leading provider of fully-compliant loan document preparation, compliance and eDelivery solutions for the mortgage industry, announces an entirely automated service for income verification. DocMagic's 4506-T service provides a quick and ...

http://eon.businesswire.com/news/eon/20130416006101/en/DocMagic-Delivers-Fully-Automated-Income-Verification

Consumer prices drop 0.2 pct on cheaper gas

... until unemployment falls at least to 6.5 percent. It is also buying about $85 billion in Treasury securities and mortgage-backed bonds in an effort to keep longer-term interest rates low and spur more borrowing and spending. However, some economists ...

http://thedailyrecord.com/2013/04/16/consumer-prices-drop-0-2-pct-on-cheaper-gas/

Lomita, county deny responsibility in case of flooded Lomita home

... so much when nobody else seems to care about this property.' It went totally against my grain to not pay my mortgage. " But with help from the federal Department of Housing and Urban Development and other agencies, the frantic couple learned ...

http://www.dailybreeze.com/ci_23030051/lomita-county-deny-responsibility-case-flooded-lomita-home?source=rss_viewed

US housing starts surpass 1 million in March

... apartment construction and said the pace of building could drop in April. Steady job growth, near record-low mortgage rates and rising home values have encouraged more people to buy. In response to higher demand and a low supply of available homes ...

http://www.wdbo.com/ap/ap/labor/us-housing-starts-surpass-1-million-in-march/nXNGh/

US builders start 1 million homes in March, most in nearly 5 years, led by apartment ...

... apartment construction and said the pace of building could drop in April. Steady job growth, near record-low mortgage rates and rising home values have encouraged more people to buy. In response to higher demand and a low supply of available homes ...

http://www.yorktonthisweek.com/article/GB/20130416/CP07/304169944/-1/yorkton/us-builders-start-1-million-homes-in-march-most-in-nearly-5-years&template=cpArt

Citigroup cautious despite profit riseApril 17, 2013 New York...

The bank on Monday announced strong first-quarter results, but executives were more cautious than celebratory.

http://the-japan-news.com/news/article/0000137095

Fidelity Exec Calls For More Retirement Savings

... that have lumped the "tax deferral" element of retirement savings in the same bucket as the "tax breaks" of home mortgage deduction and employer-sponsored health insurance , and propose to cap or even eliminate them all in the name of deficit ...

http://insurancenewsnet.com/article.aspx?type=Financial&id=378097

Home building rises to key milestone

... home building and real estate have turned around in recent months, helped by a combination of near record low mortgage rates, lower unemployment and a drop in foreclosures that has lifted home prices. As a result, sales of both previously owned ...

http://www.abc17news.com/news/business/Home-building-rises-to-key-milestone/-/18516102/19766984/-/rd9g21z/-/index.html

My husband is not on the mortgage or deed.

I got the home before we married and want to refinance. Do I need to include him or can I do it alone? We are going to seperate. He is not on deed or mortgage. We live in Michigan.

http://qna.mortgagenewsdaily.com/questions/my-husband-is-not-on-the-mortgage-or-deed

Housing starts surpass 1 million in March

... construction and it was likely that construction activity would drop in April. Steady job growth, near record-low mortgage rates and rising home values have encouraged more people to buy. In response to higher demand and a low supply of available ...

http://www.kansascity.com/2013/04/16/4184440/us-housing-starts-surpass-1-million.html

Armenia's housing market still stagnates

... at a news conference he said property prices do not change because of sluggish construction sector and lethargic mortgage market. "Syrian Armenians, who fled their country choose to rent apartments waiting for the situation in their country to ...

http://arka.am/en/news/economy/armenia_s_housing_market_still_stagnates/

U.S. Bancorp Quarterly Profit Rises 6.7%, Matches Estimates

... The drop in net revenue was driven by a decline in noninterest income, which fell 3.3 percent to $2.17 billion. Mortgage banking revenue decreased 11 percent to $401 million. U.S. Bancorp set aside $403 million to cover soured loans in the first ...

http://washpost.bloomberg.com/Story?docId=1376-MLASRL0YHQ0X01-4RPASH2UJ7A8O3HGUD960959QP

Debt deals with Bank's won't lead to GCT

A Revenue Commissioners publication released last week confirmed that deals done by buy-to-let investors with bank's will not be liable for Capital Gains Tax .

http://www.businessworld.ie/livenews.htm?a=3054558

Goldman Sachs Group reports YOY boost in net earnings, revenues

... The increase was driven by higher net revenues in debt underwriting because of leveraged finance and commercial mortgage-related activity. Net revenues in equity underwriting were significantly higher from the first quarter of 2012, reflecting an ...

http://www2.snl.com/Interactivex/article.aspx?CdId=A-17476602-13354

Big Losers: PolyOne Corporation, Capstone Turbine Corporation, Genworth Financial Inc, Aeropostale

... stepped down May 1, after overseeing a share decline of more than 80% since 2006 as losses at the company's mortgage-insurance unit drained capital. Is GNW Signaling a Buy After The Sudden Gain? Don't Miss Out Free Trend Analysis Here Aeropostale, ...

http://www.sbwire.com/press-releases/big-losers-polyone-corporation-capstone-turbine-corporation-genworth-financial-inc-aeropostale-238440.htm

... the economy. He has opposed the central bank's decision to push forward with an open ended campaign of Treasury and mortgage bond buying, amid worries about rising reserve levels and an ever growing central bank balance sheet that will at some point ...

http://blogs.wsj.com/economics/2013/04/16/feds-plosser-now-is-a-good-time-to-revisit-tightening-plan/?mod=WSJBlog&mod=blogmod

Citigroup treads cautiously with mortgages

This Wednesday, Dec. 5, 2012 photo, shows a Citi Bank sign in Chicago. Citigroup turned in a strong first quarter, but the sentiment from the bank was more cautious than celebratory.

http://www.theglobeandmail.com/try-it-now/try-it-now-rob-insight/?contentRedirect=true&articleId=11255841

US consumer prices drop 0.2 pct on cheaper gas

... until unemployment falls at least to 6.5 percent. It is also buying about $85 billion in Treasury securities and mortgage-backed bonds in an effort to keep longer-term interest rates low and spur more borrowing and spending. However, some economists ...

http://cnsnews.com/news/article/us-consumer-prices-drop-02-pct-cheaper-gas

Gasoline, food prices subdue consumer inflation

... published last week showed the U.S. central bank was moving closer to ending its monthly $85 billion purchases of mortgage and Treasury bonds to keep rates low and spur faster job growth. Data have suggested economic growth accelerated in the first ...

http://www.reuters.com/article/2013/04/16/us-usa-economy-idUSBRE93F0KC20130416?feedType=RSS&feedName=topNews

US housing starts surpass 1 million in March

... construction and it was likely that construction activity would drop in April. Steady job growth, near record-low mortgage rates and rising home values have encouraged more people to buy. In response to higher demand and a low supply of available ...

http://www.cortezjournal.com/article/20130416/APW/1304160689/US-housing-starts-surpass-1-million-in-March

Exclusive Mortgage Leads Now Available Through AnikimCreditCorp.com,...

Exclusive mortgage leads are in high demand, and AnikimCreditCorp.com is helping to connect buyer and seller.

http://www.americanbankingnews.com/2013/04/16/exclusive-mortgage-leads-now-available-through-anikimcreditcorp-com-the-mortgage-industrys-most-trusted-source/

San Diego Bankruptcy Attorney Craig Trenton Featured in Consumer...

The latest Banking Bad blog post features a fascinating write up on saving homes from foreclosure through the bankruptcy process.

http://www.americanbankingnews.com/2013/04/16/san-diego-bankruptcy-attorney-craig-trenton-featured-in-consumer-advocate-banking-bads-new-blog/

US consumer prices drop 0.2 pct on cheaper gas

US housing starts surpass 1 million in March

... of 902,000, down from February's rate of 939,000 - also nearly a five-year high. Steady job growth, near record-low mortgage rates and rising home values have encouraged more people to buy. In response to higher demand and a low supply of available ...

http://www.wisconsinrapidstribune.com/viewart/20130416/WDH0101/130416018/US-housing-starts-surpass-1-million-March

England and Wales drive 1.9% increase in house prices but Scotland and Northern Ireland lag behind

... in a row, adding to recent signs that confidence in the housing market is generally on the up. The Council of Mortgage Lenders (CML) published a breakdown of its lending figures for February yesterday, which showed that 2013 has been the best start ...

http://www.independent.co.uk/property/house-and-home/england-and-wales-drive-19-increase-in-house-prices-but-scotland-and-northern-ireland-lag-behind-8575064.html

Consumer Prices Cool in March from February

... published last week showed the U.S. central bank was moving closer to ending its monthly $85 billion purchases of mortgage and Treasury bonds to keep rates low and spur faster job growth. But with data ranging from employment to retail sales and ...

http://www.foxbusiness.com/economy/2013/04/16/consumer-prices-cool-in-march-from-february/

Why Savers Prefer Low Yield Instruments

... gave these instruments an enormous advantage in the market that eventually resulted in the housing crisis of 2007. Mortgage-backed securities grew from $17 billion in 1980 to $604 billion in 1990 to $1,283 billion in 2000. Under Basel, U.S. ...

http://www.ncpa.org/sub/dpd/index.php?Article_ID=23066&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ncpadpd+%28Daily+Policy+Digest%29

UPDATE 1-Latest U.S. jobs report gives me pause, says Fed's Dudley

... the 2007-2009 recession, the Fed has kept interest rates at rock bottom and is buying $85 billion in Treasury and mortgage bonds per month to spur investment, hiring, and overall growth. Dudley, a strong backer of the quantitative easing program, ...

http://www.reuters.com/article/2013/04/16/usa-fed-dudley-idUSL2N0D30KT20130416?feedType=RSS&feedName=bondsNews

UPDATE 1-U.S. March housing starts rise to highest since 2008

... than analysts' expectations of a 930,000-unit rate. A recovery in housing, driven by growing demand and record-low mortgage rates, is boosting other sectors of the economy. Home building added to national economic growth last year for the first time ...

http://www.reuters.com/article/2013/04/16/usa-economy-housing-idUSL2N0D30PZ20130416?feedType=RSS&feedName=bondsNews

RPT-Fitch: U.S. REITs and MLPs Are More Similar Than Not

... is not an economical alternative, REITs may elect to access the CMBS market, insurance company or bank principal mortgage markets as sources of contingent liquidity. Additional information is available in Fitch's 'Top 10 Comparisons of REITs and ...

http://www.reuters.com/article/2013/04/16/fitch-us-reits-and-mlps-are-more-similar-idUSFit65432720130416?feedType=RSS&feedName=bondsNews

Apollo Residential Mortgage, Inc. Announces Dates for First Quarter...

Apollo Residential Mortgage, Inc. today announced the Company will hold a conference call to review its first quarter financial results on Tuesday, May 7, 2013 at 10:00 a.m. Eastern Time.

http://news.investors.com/newsfeed-marketwired/041613-141463730-apollo-residential-mortgage-inc-announces-dates-for-first-quarter-2013-earnings-release-and-conference-call.aspx

Home building rises to key milestone

... home building and real estate have turned around in recent months, helped by a combination of near record low mortgage rates, lower unemployment and a drop in foreclosures that has lifted home prices. As a result, sales of both previously owned ...

http://www.clickorlando.com/news/money/Home-building-rises-to-key-milestone/-/1637116/19766984/-/h8bo4oz/-/index.html

Consumers More Proactive with Their Credit Information

... cards were the most popular finance products at 29% each. A quarter of consumers were planning to apply for a mortgage and 12% for a car loan. However, although credit information is checked when mobile phone agreements are set up, only 4% of ...

http://www.creativemac.com/article/Consumers-More-Proactive-with-Their-Credit-Information-2552363

Consumer Prices Drop On Cheaper Gas

... at least until unemployment falls below 6.5 percent. It is also buying about $85 billion in Treasury securities and mortgage-backed bonds in an effort to keep longer-term interest rates low and spur more borrowing and spending. However, some ...

http://www.manufacturing.net/news/2013/04/consumer-prices-drop-on-cheaper-gas

Bank of America Expected To Report Lower Q1 Earnings

... and above estimates for $1.39. JPMorgan's revenue fell 4% to $25.1 billion. That was mainly due to a slowdown in mortgage banking income, which fell 31% from a year earlier. If there's a positive sign for followers of BofA ahead of its earnings ...

http://news.investors.com/business/041613-652033-bank-of-america-first-quarter-earnings-preview.htm?ref=HPLNews

Housing starts take big jump in March

... level in six years, the survey showed. The optimism is largely being driven by the low inventory of homes for sale, mortgage rates that remain near historic lows and rising consumer confidence, says NAHB's chief economist David Crowe. Still, the ...

http://www.news10.net/news/national/241260/5/Housing-starts-take-big-jump-in-March

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