MORTGAGE LOCK ADVISORY 

February 13, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 8 days:  FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.13.

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT 

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.47, High: 103.48, Low: 103.29   
DJI Stocks currently $12,809.25,  Down $-81.21, Change -0.634%   
Asian & European Stock Market Indexes Down -1.17%   
Nymex Crude Oil Currently $97.62 Down $2.22   
Gold 1 Once - Bid: 1,711.70   

              
MORTGAGE NEWS BRIEFS

Fixed-Rate Mortgages in U.S. Hover at All-Time Record Lows
 by Michael Gerrity
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), while most average mortgage rates inched higher on January's positive employment data, the 30-year fixed remained unchanged and at its all-time record low. One year ago at this time, the 30-year fixed averaged 5.05 percent  Read More WPC

Multistate AG settlement of illegal foreclosure practices
 Federal and state officials are preparing to announce a historic settlement, worth up to $39.5 billion and covering nearly all 50 states to resolve allegations that the nation's five largest mortgage servicers engaged in illegal and improper foreclosure practices, the Financial Times reports, sourcing people with knowledge of the matter. Read More Housing Wire

A Family and a Hit Man Receive Hefty Sentences for Mortgage Fraud
 A federal court sentenced three family members to prison Monday for their role in $11 million in mortgage fraud, just as another court upped the sentence for a onetime company executive-turned-hit man currently serving time. » Read More MReport

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide Your Clients With Options - Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 10, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 8 days:  FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.13.

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.47, High: 103.48, Low: 103.29   
DJI Stocks currently $12,809.25,  Down $-81.21, Change -0.634%   
Asian & European Stock Market Indexes Down -1.17%   
Nymex Crude Oil Currently $97.62 Down $2.22   
Gold 1 Once - Bid: 1,711.70                 
MORTGAGE NEWS BRIEFS

Fixed-Rate Mortgages in U.S. Hover at All-Time Record Lows
 by Michael Gerrity
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), while most average mortgage rates inched higher on January's positive employment data, the 30-year fixed remained unchanged and at its all-time record low. One year ago at this time, the 30-year fixed averaged 5.05 percent  Read More WPC

Multistate AG settlement of illegal foreclosure practices
 Federal and state officials are preparing to announce a historic settlement, worth up to $39.5 billion and covering nearly all 50 states to resolve allegations that the nation's five largest mortgage servicers engaged in illegal and improper foreclosure practices, the Financial Times reports, sourcing people with knowledge of the matter. Read More Housing Wire

A Family and a Hit Man Receive Hefty Sentences for Mortgage Fraud
 A federal court sentenced three family members to prison Monday for their role in $11 million in mortgage fraud, just as another court upped the sentence for a onetime company executive-turned-hit man currently serving time. » Read More MReport

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide Your Clients With Options - Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 9, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 8 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are up 09. If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.75, High: 103.94, Low: 103.72   
DJI Stocks currently $12,908.70,  Up $24.75, Change 0.192%   
Asian & European Stock Market Indexes Up 0.352%   
Nymex Crude Oil Currently $99.92 Up $1.21   
Gold 1 Once - Bid: 1,749.30 

                 
MORTGAGE NEWS BRIEFS

Multistate AG settlement of illegal foreclosure practices
 Federal and state officials are preparing to announce a historic settlement, worth up to $39.5 billion and covering nearly all 50 states to resolve allegations that the nation's five largest mortgage servicers engaged in illegal and improper foreclosure practices, the Financial Times reports, sourcing people with knowledge of the matter. Read More Housing Wire

Knowledge of Unreported Fraud is Fraud
Rule Requires Nonbank Lenders, Originators to Report Fraud
 By: Ryan Schuette   
A financial fraud task force cleared a final rule Tuesday that requires nonbank mortgage lenders and originators to report suspicious activity related to mortgage fraud. Read More MReport

A Family and a Hit Man Receive Hefty Sentences for Mortgage Fraud
 A federal court sentenced three family members to prison Monday for their role in $11 million in mortgage fraud, just as another court upped the sentence for a onetime company executive-turned-hit man currently serving time. » Read More MReport

The Top 30 Brokers in CA by Number Employed: 2011 First Tuesday

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

When Politics trumps common Sense.  Who Will Work for Peanuts?
Senators Introduce Bill to Pay GSE Execs Federal Salaries
Ryan Schuette    
Lawmakers from both sides of the aisle introduced legislation Thursday to curb multibillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac.  Read More MReport

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide More Client Options with Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 8, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are down 03. If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.71, High: 104.75, Low: 103.63   
DJI Stocks currently $12,871.77,  Down $-6.43, Change -0.05%   
Asian & European Stock Market Indexes Up 0.967%   
Nymex Crude Oil Currently $99.83 Up $1.42   
Gold 1 Once - Bid: 1,740.10

                 
MORTGAGE NEWS BRIEFS

Knowledge of Unreported Fraud is Fraud
Rule Requires Nonbank Lenders, Originators to Report Fraud
 By: Ryan Schuette   
A financial fraud task force cleared a final rule Tuesday that requires nonbank mortgage lenders and originators to report suspicious activity related to mortgage fraud. Read More MReport

A Family and a Hit Man Receive Hefty Sentences for Mortgage Fraud
 A federal court sentenced three family members to prison Monday for their role in $11 million in mortgage fraud, just as another court upped the sentence for a onetime company executive-turned-hit man currently serving time. » Read More MReport

The Top 30 Brokers in CA by Number Employed: 2011 First Tuesday

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

When Politics trumps common Sense.  Who Will Work for Peanuts?
Senators Introduce Bill to Pay GSE Execs Federal Salaries
Ryan Schuette    
Lawmakers from both sides of the aisle introduced legislation Thursday to curb multibillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac.  Read More MReport

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide More Client Options with Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 7, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are Up 03. If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.72, High: 104.78, Low: 103.69   
DJI Stocks currently $12,802.48,  Down $-59.75, Change -0.467%   
Asian & European Stock Market Indexes Down -0.185%   
Nymex Crude Oil Currently $97.17 Down $0.67   
Gold 1 Once - Bid: 1,716.70 

                 
MORTGAGE NEWS BRIEFS

A Family and a Hit Man Receive Hefty Sentences for Mortgage Fraud
 A federal court sentenced three family members to prison Monday for their role in $11 million in mortgage fraud, just as another court upped the sentence for a onetime company executive-turned-hit man currently serving time. » Read More MReport

The Top 30 Brokers in CA by Number Employed: 2011 First Tuesday

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

When Politics trumps common Sense.  Who Will Work for Peanuts?
Senators Introduce Bill to Pay GSE Execs Federal Salaries
Ryan Schuette    
Lawmakers from both sides of the aisle introduced legislation Thursday to curb multibillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac.  Read More MReport

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide More Client Options with Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 6, 2012, 6:45 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are unchanged.  Points have decreased for the past eight days previous to Friday and we are ready for a correction.  If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.72, High: 104.78, Low: 103.69   
DJI Stocks currently $12,802.48,  Down $-59.75, Change -0.467%   
Asian & European Stock Market Indexes Down -0.185%   
Nymex Crude Oil Currently $97.17 Down $0.67   
Gold 1 Once - Bid: 1,716.70 

                 
MORTGAGE NEWS BRIEFS

Housing Crisis to End in 2012 as Banks Loosen Credit Standards
 By Krista Franks
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read More DSNews

When Politics trumps common Sense.  Who Will Work for Peanuts?
Senators Introduce Bill to Pay GSE Execs Federal Salaries
Ryan Schuette    
Lawmakers from both sides of the aisle introduced legislation Thursday to curb multibillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac.  Read More MReport

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Provide More Client Options with Energy Efficient Mortgages

4 Minute Energy Efficient Mortgage Video

MORTGAGE LOCK ADVISORY 

February 3, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.42 point.  Points have decreased for the past eight days and we are ready for a correction.  If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.87%   
MBS (3.5%) - 103.72, High: 104.09, Low: 103.53   
DJI Stocks currently $12,820.68,  Up $115.27, Change 0.899%   
Asian & European Stock Market Indexes Up 0.469%   
Nymex Crude Oil Currently $96.75 Up $0.39   
Gold 1 Once - Bid: 1,747.60

                 
MORTGAGE NEWS BRIEFS

When Politics trumps common Sense.  Who Will Work for Peanuts?
Senators Introduce Bill to Pay GSE Execs Federal Salaries
Ryan Schuette    
Lawmakers from both sides of the aisle introduced legislation Thursday to curb multibillion-dollar bonuses for senior-level executives with Fannie Mae and Freddie Mac.  Read More MReport

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

U.S. Private-Sector Employment Increased by 170,000 Jobs in January,
 Private-sector employment increased by 170,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report(R) released today Read More Wall Street Journal 

FHA: Learn About FHA Energy Efficient Mortgages Online
 Energy Efficient Mortgage (EEM) video. This video explains how to obtain the "present value of the energy saved." This training course provides real estate professionals, housing counselors, and lenders with an overview of the EEM process.  Click for Video

MORTGAGE LOCK ADVISORY 

February 2, 2012, 7:00 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.08 point.  Points have decreased for the past eight days and we are ready for a correction.  If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

The Mortgage Backed Securities (MBS) market way overbought and in this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.98%   
MBS (3.5%) - 4.05, High: 104.13, Low: 103.97   
DJI Stocks currently $12,706.40,  Down $-10.06, Change -0.079%   
Asian & European Stock Market Indexes Up 0.741%   
Nymex Crude Oil Currently $96.62 Down $0.99   
Gold 1 Once - Bid: 1,745.60

                 
MORTGAGE NEWS BRIEFS

Presidential Campaign Tactics or Something Real? 
Obama Unveils New Refi Plan, Homeowner 'Bill of Rights'
 The Obama administration rolled out an ambitious package of benefits and structural changes Wednesday for homeowners who want to refinance their loans. The plan would cost anywhere from $5 billion to $10 billion and pay for itself with fees exacted from financial institutions. If it makes it into law, the bill would significantly expand refinancing opportunities for underwater borrowers, shift appraisal responsibilities in distressed neighborhoods to an automated system under the GSEs, and offer new servicing reforms. » Read More MReport 

U.S. Private-Sector Employment Increased by 170,000 Jobs in January,
 Private-sector employment increased by 170,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report(R) released today Read More Wall Street Journal 

FHA: Learn About FHA Energy Efficient Mortgages Online
 Energy Efficient Mortgage (EEM) video. This video explains how to obtain the "present value of the energy saved." This training course provides real estate professionals, housing counselors, and lenders with an overview of the EEM process.  Click for Video

This Week; is employment week with a lot of key data mixed in. The interest rate markets should start the week with additional improvement after the Fed extended the time that it will keep rates low clear through 2014. The stock market is likely to continue its sag after the Fed comments last week that the economy is uncomfortably weak. The Fed revising its estimates for growth again last week took some of the wind out of the equity market optimism that was gaining momentum. Last week's intimal report on Q4 GDP was weaker that was thought, adding to the drag for equities and supporting the bond and mortgage markets  

FHA Considering Reducing Seller Concessions
 In a separate Federal Register notice to be published soon, the FHA will propose to reduce the maximum allowable seller concession from its current level to one more in line with industry norms.  The current level exposes the FHA to excess risk by creating incentives to inflate appraised value.  The revised proposal reflects public comments received on an earlier proposal published in a Federal Register notice on July, 15, 2010.  The revised proposal calls for a 30 day comment period.  Following an analysis of the public comments received, a final rule will be issued.

MORTGAGE LOCK ADVISORY 

February 1, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.03 point.  Points have decreased for the past seven days and we are ready for a correction.  If you have an unlocked loan closing in the next seven days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution

There is not conclusive evidence to lock but, In this uncertain market the best long term advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.98%   
MBS (3.5%) - 103.87, High: 103.88, Low: 103.84   
DJI Stocks currently $12,664.92,  Up $32.01, Change 0.253%   
Asian & European Stock Market Indexes Up 1.003%   
Nymex Crude Oil Currently $99.05 Up $0.57   
Gold 1 Once - Bid: 1,744.10

                 
MORTGAGE NEWS BRIEFS

 
U.S. Private-Sector Employment Increased by 170,000 Jobs in January,
Private-sector employment increased by 170,000 from December to January on a seasonally adjusted basis, according to the latest ADP National Employment Report(R) released today Read More Wall Street Journal 

FHA: Learn About FHA Energy Efficient Mortgages Online
 Energy Efficient Mortgage (EEM) video. This video explains how to obtain the "present value of the energy saved." This training course provides real estate professionals, housing counselors, and lenders with an overview of the EEM process.  Click for Video

This Week; is employment week with a lot of key data mixed in. The interest rate markets should start the week with additional improvement after the Fed extended the time that it will keep rates low clear through 2014. The stock market is likely to continue its sag after the Fed comments last week that the economy is uncomfortably weak. The Fed revising its estimates for growth again last week took some of the wind out of the equity market optimism that was gaining momentum. Last week's intimal report on Q4 GDP was weaker that was thought, adding to the drag for equities and supporting the bond and mortgage markets  

FHA Considering Reducing Seller Concessions
 In a separate Federal Register notice to be published soon, the FHA will propose to reduce the maximum allowable seller concession from its current level to one more in line with industry norms.  The current level exposes the FHA to excess risk by creating incentives to inflate appraised value.  The revised proposal reflects public comments received on an earlier proposal published in a Federal Register notice on July, 15, 2010.  The revised proposal calls for a 30 day comment period.  Following an analysis of the public comments received, a final rule will be issued.

MORTGAGE LOCK ADVISORY 

January 31, 2012, 12:15 PM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK

 Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.15 point.  Points have decreased for the past six days and we are ready for a correction.  If you have an unlocked loan closing in the next ten days, today would be a good day to lock.  

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution

There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.88%   

MBS (3.5%) - 103.84, High: 103.92, Low: 103.66   
DJI Stocks currently $12,629.05,  Down $-24.67, Change -0.195%   
Asian & European Stock Market Indexes Up 0.454%   
Nymex Crude Oil Currently $98.37 Down $0.41

                 
MORTGAGE NEWS BRIEFS

 
FHA: Learn About FHA Energy Efficient Mortgages Online
 Energy Efficient Mortgage (EEM) video. This video explains how to obtain the "present value of the energy saved." This training course provides real estate professionals, housing counselors, and lenders with an overview of the EEM process.  Click for Video

This Week; is employment week with a lot of key data mixed in. The interest rate markets should start the week with additional improvement after the Fed extended the time that it will keep rates low clear through 2014. The stock market is likely to continue its sag after the Fed comments last week that the economy is uncomfortably weak. The Fed revising its estimates for growth again last week took some of the wind out of the equity market optimism that was gaining momentum. Last week's intimal report on Q4 GDP was weaker that was thought, adding to the drag for equities and supporting the bond and mortgage markets  

FHA Considering Reducing Seller Concessions
 In a separate Federal Register notice to be published soon, the FHA will propose to reduce the maximum allowable seller concession from its current level to one more in line with industry norms.  The current level exposes the FHA to excess risk by creating incentives to inflate appraised value.  The revised proposal reflects public comments received on an earlier proposal published in a Federal Register notice on July, 15, 2010.  The revised proposal calls for a 30 day comment period.  Following an analysis of the public comments received, a final rule will be issued.

Bernanke Stays Easy: Fed To Keep Rates Low Through Late 2014
 The Federal Reserve took no action on interest rates or further bond purchases Wednesday, but extended its runway for exceptionally low rates by at least a year to late 2014. Read More Forbes

FHA 203k Renovation Loans - All You Need To Know

Nine Minute Video

Five Top Banks offer $25 Billion to Troubled Homeowners.
 The nation's five largest mortgage lenders have offered a draft settlement to pay out as much as $25 billion to cover new terms for homeowners driven out by foreclosure. Read More Fox News

Investors buying with cash pressure home prices
 by KERRI PANCHUK Monday, January 23rd, 2012
Investors are gobbling up residential real estate with cash, pushing national home prices lower, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.  The overall proportion of cash buyers in the housing market soared to a record 33.2%, compared to 29.6% a year earlier. Read More HousingWire