Senior Loan Officers Indicate Tepid Response to HARP 2.0

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Apr 30, 2012 6:15PM

Senior Loan Officers Indicate Tepid Response to HARP 2.0

Respondents to the April Federal Reserve Senior Lending Officers Survey were asked a series of special questions about residential mortgage lending practices at their institutions. These questions, which were in addition to the questions customarily asked on the quarterly survey regarding loan demand and bank standards, covered the banks’ responses to the revised Home Affordable Refinance Program (HARP 2.0), refinancing underwater mortgages outside of HARP 2.0, changes anticipated in the institutions…

Apr 30, 2012 3:54PM

Mortgage Rates Edge Closer To All-Time Lows

Mortgages Rates are moderately improved to begin the week, taking them slightly lower than than April’s best two days (4/10 and 4/23) and as close as they’ve been to all-time lows in several months. This further solidifies the Conventional 30yr Fixed Best-Execution Rate at 3.875%, which had recently shared the stage with 4.0%. Keep in mind that “best-execution” as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. ( read more about Best…

Micro News

2:12 PM:

Fed’s Loan Survey Asks New, Specific Questions Re: Mortgages

2:10 PM:

Flatness, on a Whole New Level: 16th Point Range For MBS!

10:51 AM:

Census Bureau Releases Home Ownership/Rental Statistics for Q1

9:56 AM:

ECON: Chicago PMI Much Weaker Than Expected

9:25 AM:

Bond Markets Slightly Improved After Quiet Overnight Session

8:38 AM:

ECON: Incomes Accelerate, Spending Decelerates, Inflation Tame

1:09 PM:

Cue The Friday Afternoon Drift… Volume/Volatility Disappearing

9:33 AM:

Bond Markets Weakening After Initial Post-GDP Rally

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Today’s Comments

Jason Harris

“On the Freddie deals that don’t work OA….send them to current servicer as they will almost certainly be able to do manual relief refi.”

Frank Ceizyk

“Matt: “To really reduce the analogy to its purest intention would be to say this: if a particular entity got burned in the meltdown due to their own…”

Harold Crick

“The chances of SB 1470 in its present incarnation becoming law is zip. The California court system is already maxed out – it’s an untenable proposition…”

Today’s Q&A

“bad mortgage deal in tennessee”

“Financing amount over VA limit of $417K”

“What kind of credit score will get me a good mortgage rate. “

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Today’s Forum Discussions

AP

“Hi. I took an FHA loan for $340000 (30 yr fixed FHA) which closed in end of July 2009 @5.125% which I then refinanced in 2009 to a lower rate of 4.75%…”

Anita Kazee

“Looking for a lender that does FHA streamline loans for manufactured homes”

Nelson fred

“The urban housing situation has been deteriorating fast and unless remedial measures are taken with a sense of urgency to improve the housing and environmental…”

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