Mortgages

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Homeowners who think they may have been financially injured due to the actions of mortgage servicers during a foreclosure have additional time to request a review of their cases. The deadline for the Independent Foreclosure Review authorized by the Office of the Comptroller of the Currency and the Federal Reserve originally schedule for April 30 has been extended to July 31. To be eligible for a review a borrower had a mortgage on the primary residence serviced by a participating company which was in active foreclosure between January 1, 2009 and December 31, 2010. There are no costs associated with the review. More information and a list of participating servicers can be found at: www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm or www.occ.gov/independentforeclosurereview...()

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Yesterday we learned that the much-anticipated Eurogroup meeting to vote on Greece's second bailout had evolved into a mere conference call with sources citing Greece not having the proper "paperwork" ready to go. Earlier this morning, we learned that some "Euro-zone finance officials are examing ways of delaying parts or even all of the second bailout," according to Reuters and that a proposal t that effect has been circulated. This is can-kicking at its finest as it potentially pushes the next focal point in the Greek saga BACK TO APRIL, after their elections. It also casts doubt as to whether or not today's Eurogroup conference call is still going to happen, and if it does happen, how much can really be resolved. The "yeah buts" keep coming. Even if something seems to be resolved, the mere...()

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MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-25 : +0-01 FNMA 4.0 105-17 : +0-01 FNMA 4.5 106-25 : +0-02 FNMA 5.0 108-04 : +0-01 GNMA 3.5 105-13 : -0-02 GNMA 4.0 108-03 : -0-02 GNMA 4.5 109-14 : -0-01 GNMA 5.0 111-04 : +0-00 FHLMC 3.5 103-16 : +0-00 FHLMC 4.0 105-03 : +0-00 FHLMC 4.5 106-10 : +0-02 FHLMC 5.0 107-25 : +0-01 Pricing as of 3:58 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 2:53PM : ALERT: Still On The Edge of Negative Reprice Risk After Conference Call Although no significant progress was made on the call and no significant plans were announced, MBS and Treasuries aren't bouncing back quite as forcefully as we'd like to see in order to rule out potential reprices for the...()

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Mortgages Rates improved again today as domestic economic data failed to inspire markets to move in either direction and optimism over today's conference call between Greece and its creditors deteriorated. In general, economic optimism tends to coincide with interest rates moving higher. Mortgage rates began the week fighting back against this generality as anticipation for today's conference call weighed on bond markets and MBS (the "mortgage-backed-securities" that most directly influence mortgage rates). It became clear earlier today that the conference call would not offer any sort of sweeping solution to ongoing Greek bailout negotiations. Uninspired by today's manufacturing data at home, bond markets traded higher in price for a fourth straight day. As price goes up, yields (or "interest...()