Wealth of Women

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The Consumer Financial Protection Bureau ( CFPB ) has rolled out a prototype of a form for mortgage lenders to send to borrowers during each billing cycle to keep those borrowers abreast of crucial information about their loan. The prototype was published on CFPB's blog on Monday and the Bureau is asking for consumer and lender reaction. The new model statement , designed for sending by mail or by electronic transmission, is based on a set of information that lenders are required, under the Dodd-Frank Wall Street Reform Act, to provide to their borrowers. CFPB is seeking to provide lenders a model for displaying that information in a clear and easily understandable format. Dodd-Frank requires that consumers be notified on a regular basis about: Their principal loan amount Current interest rate...()

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This morning we had the Retail Sales figures. Shopping in Texas can be a different experience (30 seconds). Small lenders can be assured that whatever happens to larger players in mortgage banking will eventually impact them in some way. It appears that the Obama administration is putting more pressure on Fannie & Freddie to write down principal . (I have never missed a mortgage payment - where do I sign up for that program?) For the Chicago area only, I have been retained by a well-established, 100 year old community bank, based in far NW Suburban Chicago. It is looking to expand its presence in the North, Northwest and Western suburbs with the addition of a Branch Manager and production team . The bank is an approved FNMA seller-servicer, and also offers several correspondent options...()

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MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-24 : +0-09 FNMA 4.0 105-15 : +0-05 FNMA 4.5 106-23 : +0-03 FNMA 5.0 108-02 : +0-02 GNMA 3.5 105-14 : +0-12 GNMA 4.0 108-03 : +0-11 GNMA 4.5 109-15 : +0-08 GNMA 5.0 111-04 : +0-02 FHLMC 3.5 103-15 : +0-08 FHLMC 4.0 105-02 : +0-04 FHLMC 4.5 106-08 : +0-03 FHLMC 5.0 107-24 : +0-02 Pricing as of 11:04 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 10:59AM : Light Day of Origination Helps MBS To Highest Levels Since Thursday It's been a light day for new originations so far in MBS with current totals in Fannie/Freddie 30yr Fixed around 1/4 to 1/3 of their recent averages. That light supply environment, in conjunction with a decent enough rally in broader...()

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TransUnion is reporting that serious mortgage delinquencies rose during the fourth quarter of 2011 for only the second time since the end of 2009. The rate increased 13 basis points from 5.88 percent in the third quarter to 6.01 percent. The increase was widespread; 37 percent of the states reported increases as did 64 percent of metropolitan areas. The latter figure is unchanged from Quarter 3 but up substantially from the 21 MSAs that experienced an increase in Quarter 2. New Jersey and Vermont had the largest annual increases. Their delinquency rates rose between Quarter 4, 2010 and Quarter 4, 2011 by 11.98 percent and 11.11 percent respectively. South Dakota had an increase of 10.36 percent. Arizona, California, and Wyoming had the greatest decreases in their rates, all three in the range...()