Daily Newsletter: Pending Home Sales Rise at Fastest Pace Since 2010; Rates Steady to Start Busy Week; Short Sales Down Big in Q1

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30 Year Fixed 4.10% +0.00 15 Year Fixed 3.25% +0.00 10YR Treasury 2.52% -0.0144 FNMA 30YR 3.5 102.83 +0.06 FNMA 15YR 2.5 103.81 +0.03 View Today’s Rates

Monday June 30, 2014 MND NewsWire – 10:32AM Pending Home Sales Rise at Fastest Pace Since 2010 There was encouraging home market news from the National Association of Realtors® (NAR) this morning. The association’s Pending Home Sales Index surged in May , increasing 6.11 … Mortgage Rate Watch – 2:49PM Mortgage Rates Unchanged to Begin Short Week Mortgage rates were unchanged today. More often than not, when the average rate is unchanged, it’s due to a balance between some lenders offering higher rates and others offering lower … MND NewsWire – 3:40PM Short Sales Fall Sharply in First Quarter The Federal Housing Finance Agency said on Friday that Freddie Mac and Fannie Mae continue to complete thousands of foreclosure prevention actions in each reporting period. The two … MBS Commentary – 7:27AM MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP Pound for pound, this is one of the busiest weeks of the year . There are relevant economic reports every day as well as Fed speakers and the last trading day of Q2. Wrapping it all … Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities MBS MID-DAY: Bond Markets Slightly Stronger After Volatile Start Housing Improving but Rental Crisis Looms Latest Video Santelli: Dollar no longer the king Pending home sales jump Q1 GDP reading ‘meaningless’: Economist More News from ‘Around the Web’ HUD – 3:42PM HUD Awards Nearly $120 Million to Four Communities to Revitalize Housing, Surrounding Neighborhoods CNBC – 2:45PM Yellen moves in, neighbors freak out Market Watch – 1:41PM Fed policy on road back to normal, Williams says http://www.cfpbmonitor.com – 1:41PM Hensarling and CFPB disagree on impact of Supreme Court’s Canning decision Google News – 1:40PM Small investors spurred spike in cash sales. So what happens next? http://www.treasury.gov – 12:23PM Last Week’s Toothless Treasury Propaganda (Now With Pictures of Smiling People!) http://www.justice.gov – 12:21PM U.S. Bank to Pay $200 Million to Resolve Alleged Fha Mortgage Lending Violations Market Watch – 10:45AM Bond Report: 10-year Treasurys eyes best six months since 2012 CNBC – 10:04AM May’s pending home sales surge CNBC – 10:02AM Automated Fed? A possibility in 2039 CNBC – 8:45AM US bond markets await update on housing, NFP http://www.freddiemac.com – 8:44AM Mid-Year Economic Update Today’s Comments MBS Live Chat – 10:00AM “RTRS- U.S. MAY PENDING HOME SALES INDEX +6.1 PCT, LARGEST GAIN SINCE APRIL 2010, (CONSENSUS +1.5 PCT) TO 103.9 – NAR…” MBS Live Chat – 10:00AM “RTRS- U.S. MAY PENDING HOME SALES -5.2 PCT FROM MAY 2013…” MBS Live Chat – 11:01AM “MG, if your announcement regarding the new version is the one I have, it’s incredible. The mobile app is crazy, I played golf with the owner of our hedge fund and my app was better than his!…” Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.10% +0.00 15 Yr FRM 3.25% +0.00 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.95% +0.01 5/1 Yr ARM 3.25% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.66% 1.16 -0.01 30 Yr. Fixed 4.53% 1.31 +0.02 MBA ** 30 Yr. Fixed 4.33% 0.18 -0.03 15 Yr. Fixed 3.47% 0.19 -0.03 30 Yr. Jumbo 4.28% 0.12 -0.04 30 Yr. FHA 4.03% -0.38 -0.04 5/1 ARM 3.23% 0.27 +0.03 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.14% 0.50 -0.03 15 Yr. Fixed 3.22% 0.50 -0.08 1 Yr. ARM 2.40% 0.40 -0.01 5/1 Yr. ARM 2.98% 0.30 -0.02 Secondary Markets MBS Price Change 30YR FNMA 3.0 98.69 +0.08 30YR FNMA 3.5 102.83 +0.06 30YR GNMA 3.0 100.73 +0.14 30YR GNMA 3.5 103.89 +0.13 15YR FNMA 3.0 103.81 +0.03 15YR FNMA 2.5 101.53 +0.09 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.4607% -0.0039 5 YR 1.6283% -0.0081 10 YR 2.5214% -0.0144 30 YR 3.3507% -0.0175 Prices as of: 6/30/2014 4:04PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Rate Update: Mortgage Rates Unchanged to Begin Short Week

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30 Year Fixed 4.10% +0.00 15 Year Fixed 3.25% +0.00 10YR Treasury 2.53% -0.0108 FNMA 30YR 3.5 102.81 +0.05 FNMA 15YR 2.5 103.80 +0.02 View Today’s Rates

Mortgage Rates Unchanged to Begin Short Week June 30, 2014 Mortgage rates were unchanged today. More often than not, when the average rate is unchanged, it’s due to a balance between some lenders offering higher rates and others offering lower rates. Today, however, there were more than a few lenders who simply didn’t make any significant changes to Friday’s latest rate sheets. That said, some may be offering slight improvements this afternoon as underlying market conditions have improved. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains at 4.125%, with any improvements coming in the form of lower closing costs. This will be a busy week in terms of scheduled events that can impact rates. In addition, the all-important jobs report will be on Thursday morning as markets are closed on Friday in observance of the Independence Day holiday. Combined with the other events already scheduled on Thursday, there’s an uncommonly high amount of market movement potential packed into a short period of time. As Thursday approaches, the risks increase for bigger changes in rates than we’ve recently seen. Loan Originator Perspective “Lender pricing at the open today was very similar to Friday. As the day has progressed, MBS have moved higher in price which could allow lenders to improve pricing later today. If you are within 15 days of closing, you should consider locking especially if your lender reprices for the better. If your lender doesn’t reprice better today and you wish to float overnight, be in touch with your lender first thing in the morning as an important economic data report will be released at 10am.” –Victor Burek, Open Mortgage “Markets have been fairly quiet for a bit which tends to breed complacency. Even though we’ve experienced improvements in pricing for several days now it’s important that consumers avoid getting complacent. With high risk events on the near term horizon (Jobs Report among others) the risk of floating into Wed/Thu seems excessive to me and I would be inclined to capture the recent gains by getting this pricing protected right now.” –Hugh W. Page, Sen. Mortgage Consultant, Capital Partners Mortgage “Mortgage bonds had a seesaw session but were able finish near the highs of the day keeping the current up trend in tact. Things will heat up later in this shortened trading week as we get the jobs report on Thursday. Floating into tomorrow if your lender did not price better after Fridays re-price but be ready to lock if you have favorable pricing tomorrow for it will be dangerous to float into the ADP report or the Jobs report.” –Manny Gomes, Branch Manager, Norcom Mortgage “ISM Manufacturing report is scheduled to be released tomorrow and the strength or weakness will likely move the market. We’re on the lower side of the new range, so the risk is for a greater move upward in rates than downward. I still think we’ll test the lows of this range in the near future, but if you’re on a day to day lock/float watch…I’d consider locking. If you have more time, the risk to float could continue to pay off.” –Brent Borcherding, www.brentborcherding.com Today’s Best-Execution Rates 30YR FIXED – 4.125 FHA/VA – 3.75% 15 YEAR FIXED – 3.375% 5 YEAR ARMS – 3.0-3.50% depending on the lender Ongoing Lock/Float Considerations The Fed has stayed the course on their $10bln per meeting reduction in bond buying, though markets have handled it relatively calmly compared to the days of “coming to terms with tapering” in 2013. Rates fell significantly in January, leveled-off in February and took choppy steps higher in March. From there, they settled into a flat range mostly consisting of 4.375 and 4.5%, but with occasional forays to 4.25 and 4.625%. The bias had been very slightly toward higher rates, it reversed course in early April as expectations grew concerning European Central Bank easing. On several occasions, those expectations would go on to overwhelm domestic economic data–normally the main source of guidance for market movements. As of the third week in May, rates were as low as they’ve been since June 2013, more than confirming a break below the 2014 range. They remained in that range through month-end and grew more volatile ahead of the June 5th European Central Bank Announcement. Looking back at recent movement, it’s had a disconcertingly small amount to do with ‘normal stuff’ like economic data and Fed policy. Temporary and unpredictable factors currently account for too much of the movement to make firm bets on rates moving either direction in the short term. The narrow range persists even now, though due to the rate landscape from a year ago, rates were officially lower “year-over-year” on June 20th. (As always, please keep in mind that our Best-Execution rate always pertains to a completely ideal scenario. There are many reasons a quoted rate may differ from our average rates, and in those cases, assuming you’re following along on a day to day basis, simply use the Best-Ex levels we quote as a baseline to track potential movement in your quoted rate). 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.10% +0.00 15 Yr FRM 3.25% +0.00 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.95% +0.01 5/1 Yr ARM 3.25% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.66% 1.16 -0.01 30 Yr. Fixed 4.53% 1.31 +0.02 MBA ** 30 Yr. Fixed 4.33% 0.18 -0.03 15 Yr. Fixed 3.47% 0.19 -0.03 30 Yr. Jumbo 4.28% 0.12 -0.04 30 Yr. FHA 4.03% -0.38 -0.04 5/1 ARM 3.23% 0.27 +0.03 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.14% 0.50 -0.03 15 Yr. Fixed 3.22% 0.50 -0.08 1 Yr. ARM 2.40% 0.40 -0.01 5/1 Yr. ARM 2.98% 0.30 -0.02 Secondary Markets MBS Price Change 30YR FNMA 3.0 98.66 +0.05 30YR FNMA 3.5 102.81 +0.05 30YR GNMA 3.0 100.72 +0.13 30YR GNMA 3.5 103.88 +0.11 15YR FNMA 3.0 103.80 +0.02 15YR FNMA 2.5 101.52 +0.08 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.4607% -0.0039 5 YR 1.6283% -0.0081 10 YR 2.5250% -0.0108 30 YR 3.3516% -0.0166 Prices as of: 6/30/2014 3:58PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

MBS RECAP: Bond Markets Navigate Quarter-End Without Too Much Drama

Posted to: MBS Commentary
Monday, June 30, 2014 3:50 PM

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Considering that today’s trading range wasn’t meaningfully wider than Friday’s AND that closing prices look like they’ll fall inside Friday’s range, today has turned out to be a relatively drama-free month-end/quarter-end trading session. That didn’t look like it would be the case as Fannie 3.5s made a dash from the highs to the lows at 9:30am, but they recovered into the afternoon.

Economic data didn’t play a big role today as bond markets were generally moving in the opposite direction from that suggested by the data. Bigger considerations included quarter-end trading…

(READ THE FULL POST)

More from MND:

• MND NewsWire: Short Sales Fall Sharply in First Quarter
• Mortgage Rate Watch: Mortgage Rates Unchanged to Begin Short Week
• MBS Commentary: MBS MID-DAY: Bond Markets Slightly Stronger After Volatile Start
• MND NewsWire: Pending Home Sales Rise at Fastest Pace Since 2010
• Pipeline Press: Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities

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Short Sales Fall Sharply in First Quarter

Posted to: MND NewsWire
Friday, June 27, 2014 12:24 PM

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The Federal Housing Finance Agency said on Friday that Freddie Mac and Fannie Mae continue to complete thousands of foreclosure prevention actions in each reporting period. The two assisted homeowners with a combined total of 88,800 loan modifications, forbearances, and other assistance. This brings the total to 3.2 million since the two government sponsored enterprises (GSEs) were put in conservatorship in 2008. That total includes 1.6 million loan modifications.

Foreclosure previous actions have helped more than 2.6 million borrowers stay in their homes and another half-million have been helped to exit home ownership without a foreclosure. Those home forfeiture actions include short sales and deeds-in-lieu. FHFA noted that short sales dropped by 26 percent in the first quarter compared to the previous one.

(READ THE FULL POST)

More from MND:

• Mortgage Rate Watch: Mortgage Rates Unchanged to Begin Short Week
• MBS Commentary: MBS MID-DAY: Bond Markets Slightly Stronger After Volatile Start
• MND NewsWire: Pending Home Sales Rise at Fastest Pace Since 2010
• Pipeline Press: Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities
• MBS Commentary: MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP

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MBS MID-DAY: Bond Markets Slightly Stronger After Volatile Start

Posted to: MBS Commentary
Monday, June 30, 2014 12:05 PM

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While the overnight sessions was relatively uneventful, the first half of the domestic session has seen some decent volatility. After starting out in positive territory, bond markets sold off fairly quickly starting around 9:30am.

Chicago PMI was weaker than expected, but Treasuries and MBS continued to lose ground until just after 10am. That’s a bit of a paradox considering 10am was the day’s only piece of exceptionally strong economic data. Pending Home Sales rose at the quickest pace since the 2010 first-time-homebuyer tax credit, reaching the best levels…

(READ THE FULL POST)

More from MND:

• MND NewsWire: Pending Home Sales Rise at Fastest Pace Since 2010
• Pipeline Press: Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities
• MBS Commentary: MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP
• MBS Commentary: MBS RECAP: Strong Start And Another Afternoon Fade
• Mortgage Rate Watch: Mortgage Rates at 1-Month Lows; Volatility Ahead

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Pending Home Sales Rise at Fastest Pace Since 2010

Posted to: MND NewsWire
Monday, June 30, 2014 10:17 AM

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There was encouraging home market news from the National Association of Realtors® (NAR) this morning. The association’s Pending Home Sales Index surged in May, increasing 6.11 percent from pending sales in April. The index, a forward-looking indicator based on home purchase contracts moved from a value of 97.9 in April to 103.9. Sales resulting from those contract signings are generally expected to close in about 60 days.

The gain was broad based with all four regions of the country experiencing an uptick in contract signings. It was also the largest month-over-month increase since April 2010 when an influx of first-time buyers rushed to take advantage of the homebuyer tax credit. The gain at that time was 9.6 percent. Still the May index remained 5.2 percent below the 109.6 reading of May 2013.

(READ THE FULL POST)

More from MND:

• Pipeline Press: Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities
• MBS Commentary: MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP
• MBS Commentary: MBS RECAP: Strong Start And Another Afternoon Fade
• Mortgage Rate Watch: Mortgage Rates at 1-Month Lows; Volatility Ahead
• MND NewsWire: Housing Improving but Rental Crisis Looms

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Defense of VA Fees; Force-Placed Insurance Update; Overcoming Non-QM Loan Liabilities

Posted to: Pipeline Press
Monday, June 30, 2014 7:12 AM

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Suddenly the entire industry seems interested in three things: using the Federal Home Loan Banks as a pseudo-warehouse line, jumbo deals, and force-place insurance. Regarding this last issue, Kate Berry with American Banker wrote an article of interest: “FHFA Should Sue Banks on Force-Placed Insurance: Watchdog“. “The Federal Housing Finance Agency should sue force-placed insurers and large banks for inflating prices and generating losses for Fannie Mae and Freddie Mac, the agency’s inspector general says. Fannie and Freddie suffered $158 million in ‘financial harm’ in 2012 alone from reimbursing servicers for ‘excessively priced’ force-placed insurance. The government-sponsored enterprises reimbursed servicers for $327 million in force-placed insurance premiums last year and for $587 million in premiums from 2009 to 2011, the report found. The 24-page report by the inspector general recommends that the FHFA assess whether to sue insurers and banks to recover damages. The FHFA has agreed to complete an assessment on whether to litigate within a year. Two insurers, Assurant Inc. (AIZ) and QBE Holdings, write more than 90% of force-placed insurance coverage. They priced premiums paid by the GSEs that were 79% above what was considered ‘reasonable’ to cover claims, the inspector general’s report found. Yet the FHFA, as the conservator of Fannie and Freddie, never determined whether to sue to recover damages. FHFA officials ‘cited competing priorities, such as finalizing other financial settlements, as the reason for not completing such an assessment,’ the report found. Force-placed insurance made headlines in 2011 when mortgage borrowers were hit with hefty premiums, usually after they defaulted and went into foreclosure. The hazard insurance is purchased by the servicer or creditor when a struggling homeowner fails to maintain coverage on the property.”

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP
• MBS Commentary: MBS RECAP: Strong Start And Another Afternoon Fade
• Mortgage Rate Watch: Mortgage Rates at 1-Month Lows; Volatility Ahead
• MND NewsWire: Housing Improving but Rental Crisis Looms
• MND NewsWire: Surprise! Bank-Owned Properties Actually Sell For More!

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MBS Week Ahead: Action-Packed 3.5 Day Week Ends with NFP

Posted to: MBS Commentary
Monday, June 30, 2014 7:27 AM

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Pound for pound, this is one of the busiest weeks of the year. There are relevant economic reports every day as well as Fed speakers and the last trading day of Q2. Wrapping it all up (sort of) is June Nonfarm Payrolls. This time, however, it arrives on Thursday due to the Independence Day holiday, and it followed by several other moderately important reports, all before the day ends 3 hours early.

All this transpires against a bond market backdrop with slightly higher than average stakes. After holding ground without going over 2.66 in June, 10yr yields rallied…

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS RECAP: Strong Start And Another Afternoon Fade
• Mortgage Rate Watch: Mortgage Rates at 1-Month Lows; Volatility Ahead
• MND NewsWire: Housing Improving but Rental Crisis Looms
• MND NewsWire: Surprise! Bank-Owned Properties Actually Sell For More!
• MND NewsWire: OCC: Home Retentions Nearly Triple Home Forfeiture Actions

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Weekly Newsletter: Rates Hit 1-Month Lows, but Seen Moving Higher Over Time; Home Prices Near Pre-Crash Levels; FHFA’s New HARP Marketing Plan

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30 Year Fixed 4.10% -0.02 15 Year Fixed 3.25% -0.02 10YR Treasury 2.54% +0.0036 FNMA 30YR 3.5 102.77 -0.02 FNMA 15YR 2.5 103.78 +0.02 View Today’s Rates

Friday June 27, 2014 Mortgage Rate Watch – 6/25 Mortgage Rates hit Lowest Levels this Month Mortgage rates fell nicely today following the much weaker-than-expected reading on Q1 GDP. The improvement takes average rates to their lowest levels this month, just edging out June … MND NewsWire – 6/23 Fannie Economist Sees Rates Rising to Top of Range Almost one year ago Mark Palim, Fannie Mae’s Vice President of Applied Economic and Housing Research, analyzed what impact rising rates might have on the housing recovery. When he wrote … MND NewsWire – 6/23 Home Prices Nearing Pre-Crash Levels Home price are again approaching the high point they reached in 2006, before the bottom fell out of the housing market. Black Knight in its Home Price Index Report for April says that … MND NewsWire – 6/25 FHFA Enlists Local Leaders in HARP Recruitment Drive The Federal Housing Finance Agency (FHFA) is making another attempt to reach homeowners who might benefit from its Home Affordable Refinance Program (HARP). FHFA feels that there are … Price Increase Reflects Shift to More Costly Homes Foreclosure Inventory at Six-Year Low Rising Employment, Declining Delinquencies Fail to Buoy Housing Existing Homes in May: Stronger Sales, Moderating Price Gains Lackluster Week for Mortgage Applications Banks’ Efforts to Turn Profits are Risky -OCC Latest Video The problem with housing Second wave upward of housing coming: Pro GDP data doesn’t pass ‘smell test’: Expert More News from ‘Around the Web’ Bloomberg – 6/26 Lennar Revenue Beats Analyst Estimates as Company Raises Prices – Bloomberg Google News – 6/26 Linking housing and health for seniors: An important step forward WSJ – 6/26 Fed’s Bullard Not Worried by GDP Drop rss.nytimes.com – 6/26 By Numbers: Where Are the Hardest Places to Live in the U.S.? Bloomberg – 6/26 Treasury Begins Push to Revive U.S. Mortgage-Bond Market CNBC – 6/26 What babies tell us about housing WSJ – 6/26 As Home Sales Remain Restrained, Big Builder Eyes Home-Rental Market Reuters – 6/26 Obama administration unveils plan to expand affordable housing http://www.treasury.gov – 6/26 Five Questions with Dr. Michael Stegman on the Private Label Securities Mortgage Market CNBC – 6/25 US bonds hold steady ahead of GDP, durable goods CNBC – 6/25 Mortgage numbers suggest slower summer sales CNBC – 6/25 Fed’s Dudley: Mid-2015 rate hike ‘reasonable’ Bloomberg – 6/25 Citigroup Team’s Mortgage Bets Undeterred by Volcker Rule – Bloomberg freddiemac.mwnewsroom.com – 6/26 Fixed Mortgage Rates Lower Than Same Time Last Year CNBC – 6/26 Fed could trigger next crisis: Stephen Roach Bloomberg – 6/26 Fed Neutralized in Mortgage Bonds on Supply Slump – Bloomberg Bloomberg – 6/26 European Bond Yields at Record Low Creates Dilemma for Investors – Bloomberg CNBC – 6/26 Barclays pulls bond offering Reuters – 6/26 U.S. jobless claims fall marginally last week Reuters – 6/26 U.S. consumer spending misses expectations on weak services WSJ – 6/26 Fed’s Lacker: Much Labor Market Slack Remains Due to Structural Issues OCC – 6/26 Mortgage Performance Improvement Continues, OCC Reports WSJ – 6/26 U.S. Manufacturing Importing As Many Jobs As It Exports, Says Group Reuters – 6/25 U.S. economy contracts 2.9 percent in first quarter Reuters – 6/25 U.S. durable goods unexpectedly fall in May The Big Picture – 6/25 Rising Interest Rate Risk at US Banks Bloomberg – 6/25 U.S. GDP Technical Note freddiemac.mwnewsroom.com – 6/25 Housing Markets Show Little Improvement Market Watch – 6/25 Realtors, builders, bankers placing big election bets CNBC – 6/25 OCC warns of increasingly risky lending Bloomberg – 6/25 Fannie-Freddie Regulator Starts New Push for HARP Refinancing – Bloomberg http://www.philadelphiafed.org – 6/25 Recording and Slides from Last Week’s TILA/RESPA Webinar Fannie Mae – 6/25 Fannie Selling Guide Announcement Reuters – 6/25 Boehner says to file lawsuit over Obama executive actions Reuters – 6/24 U.S. new home sales hit six-year high in May Reuters – 6/24 Russia’s Putin renounces right to send troops to Ukraine: Kremlin WSJ – 6/24 When Will New Home Sales Pick Up? Bloomberg – 6/24 Millennials Seen Surging as Homeowners in US: Mortgages – Bloomberg freddiemac.mwnewsroom.com – 6/24 Freddie Mac Issues Monthly Volume Summary for May 2014 Reuters – 6/24 MBIA says Credit Suisse hid crucial documents in U.S. mortgage case Bloomberg – 6/24 Lew to Announce New Efforts to Aid Struggling Homeowners – Bloomberg Market Watch – 6/25 New York Attorney General to unveil lawsuit against Barclays CNBC – 6/25 How to rent your home for the summer (legally) WSJ – 6/25 First-Quarter Output Drop Doesn’t Measure Up with First-Quarter Hiring Reuters – 6/24 Fed wants jobless rate lower, mid-2015 rate hike forecast ‘reasonable’: Dudley CNBC – 6/24 The ‘Black Swan Index’ is on a scary flight higher WSJ – 6/24 Five Takeaways: Where is the U.S. Housing Market Headed? CNBC – 6/24 Today’s housing market: ‘Not for faint of heart’ rss.nytimes.com – 6/24 In Moderation : Rise in Home Prices Is Slowing, and That’s a Good Thing Washington Post – 6/24 Wonkblog: Map: The age of housing in every zip code in the U.S. WSJ – 6/24 Fed’s Plosser Not Worried About Inflation CNBC – 6/24 Could inflation be the new subprime? CNBC – 6/24 Fed extends deadline for Citi, HSBC, RBS and Santander to submit new capital plans Reuters – 6/24 U.S. consumer confidence rises in June Market Watch – 6/24 Economic Report: Home-price growth posts sharp slowdown in April Washington Post – 6/23 Wonkblog: Two charts that show why the housing market is off track CNBC – 6/23 Dallas homebuyers ‘not afraid’ anymore CNBC – 6/23 Will higher rents drive up mortgage rates? http://www.frbsf.org – 6/23 Household Expectations and Monetary Policy Bloomberg – 6/23 MBIA Seeks Data in $1 Billion Credit Suisse Mortgage Suit – Bloomberg CNBC – 6/23 Google’s updates leave businesses scrambling http://www.lpsvcs.com – 6/23 Black Knight Home Price Index Report: April 2014 Transactions CNBC – 6/23 Existing home sales hit 4.9 million in May, vs. expectations of 4.73 million units Market Watch – 6/23 Bond Report: Treasurys advance ahead of $107 billion in debt sales http://www.ourbroker.com – 6/23 Why Neighborhood Crime Stats Are Wrong CNBC – 6/23 Housing in focus for Wall Street this week Reuters – 6/23 Stock futures flat after mixed data overseas Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.10% -0.02 15 Yr FRM 3.25% -0.02 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.94% -0.02 5/1 Yr ARM 3.24% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.66% 1.16 -0.01 30 Yr. Fixed 4.53% 1.31 +0.02 MBA ** 30 Yr. Fixed 4.33% 0.18 -0.03 15 Yr. Fixed 3.47% 0.19 -0.03 30 Yr. Jumbo 4.28% 0.12 -0.04 30 Yr. FHA 4.03% -0.38 -0.04 5/1 ARM 3.23% 0.27 +0.03 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.14% 0.50 -0.03 15 Yr. Fixed 3.22% 0.50 -0.08 1 Yr. ARM 2.40% 0.40 -0.01 5/1 Yr. ARM 2.98% 0.30 -0.02 Secondary Markets MBS Price Change 30YR FNMA 3.0 98.61 -0.03 30YR FNMA 3.5 102.77 -0.02 30YR GNMA 3.0 100.59 +0.03 30YR GNMA 3.5 103.77 0.00 15YR FNMA 3.0 103.78 +0.02 15YR FNMA 2.5 101.44 -0.05 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.4646% -0.0040 5 YR 1.6364% -0.0147 10 YR 2.5358% +0.0036 30 YR 3.3682% +0.0108 Prices as of: 6/27/2014 4:31PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Newsletter: Housing Improving but Rental Crisis Looms; Rates Hit 1-Month Lows; Being Bank-Owned Makes a Home More Expensive

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30 Year Fixed 4.10% -0.02 15 Year Fixed 3.25% -0.02 10YR Treasury 2.54% +0.0036 FNMA 30YR 3.5 102.77 -0.02 FNMA 15YR 2.5 103.78 +0.02 View Today’s Rates

Friday June 27, 2014 MND NewsWire – 2:39PM Housing Improving but Rental Crisis Looms The U.S. housing recovery should regain its footing, but also faces a number of challenges . Tight credit, still elevated unemployment, and mounting student loan debt among young Americans … Mortgage Rate Watch – 5:09PM Mortgage Rates at 1-Month Lows; Volatility Ahead Mortgage rates moved lower again , with the best options available in the morning hours. After that, bond markets including MBS (the mortgage-backed-securities that most directly affect … MND NewsWire – 2:16PM Surprise! Bank-Owned Properties Actually Sell For More! RealtyTrac recently analyzed residential sales over the year that ended in March to determine what drives discounts in the market value or premiums in the sales price for distressed … MND NewsWire – 1:52PM OCC: Home Retentions Nearly Triple Home Forfeiture Actions The percentage of current and performing mortgages serviced by large national and federal savings banks improved by more than a percentage point during the first quarter of 2014 the … MBS MID-DAY: Strong Start Fades into Noon Hour Marketing HARP; Stearns’ Name Change; LEAP News & Lender Updates Latest Video Closing Bell Exchange: Bond bubble? Row houses popping up Second half housing forecast More News from ‘Around the Web’ CNBC – 5:38PM Why the markets could see fireworks before July 4 CNBC – 4:45PM Food, gas spikes drive consumer stress Market Watch – 4:45PM Red flags for economy appear Bloomberg – 4:45PM LendingClub Said to Plan $500 Million IPO in Second Half – Bloomberg Bloomberg – 2:21PM Banks Buying Record Treasuries Driving 1-Month Bills to Zero – Bloomberg CNBC – 12:37PM When real estate flips you the finger WSJ – 12:34PM Baby Boomers Aren’t (Yet) Downsizing in Droves Bloomberg – 10:23AM KB Home Reports Profit as U.S. New-Home Sales Surge – Bloomberg CNBC – 10:12AM US consumer sentiment rises in final June reading Bloomberg – 9:02AM Yellen Spending Recipe Lacking Key Ingredient: Bigger Wage Gains – Bloomberg CNBC – 9:00AM Why Pimco runs risks in turning up the vol’ CNBC – 9:00AM Treasurys hold gains as markets digest US data Market Watch – 8:59AM Real estate boom bill comes due Today’s Comments MBS Live Chat – 8:59AM “digging it for sure. excellent job by the MBS Live team…” MBS Live Chat – 12:17PM “The new site is amazing MG. I’m a huge fan of the new mobile app too. You weren’t lying when you said night and day vs. the old mobile app….” MBS Live Chat – 1:16PM “Must be Friday….” MBS Live Chat – 1:22PM “friday fade…” MBS Live Chat – 1:25PM “but just locked two ahead of it, what would we do without mbs live…” Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.10% -0.02 15 Yr FRM 3.25% -0.02 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.94% -0.02 5/1 Yr ARM 3.24% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.66% 1.16 -0.01 30 Yr. Fixed 4.53% 1.31 +0.02 MBA ** 30 Yr. Fixed 4.33% 0.18 -0.03 15 Yr. Fixed 3.47% 0.19 -0.03 30 Yr. Jumbo 4.28% 0.12 -0.04 30 Yr. FHA 4.03% -0.38 -0.04 5/1 ARM 3.23% 0.27 +0.03 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.14% 0.50 -0.03 15 Yr. Fixed 3.22% 0.50 -0.08 1 Yr. ARM 2.40% 0.40 -0.01 5/1 Yr. ARM 2.98% 0.30 -0.02 Secondary Markets MBS Price Change 30YR FNMA 3.0 98.61 -0.03 30YR FNMA 3.5 102.77 -0.02 30YR GNMA 3.0 100.59 +0.03 30YR GNMA 3.5 103.77 0.00 15YR FNMA 3.0 103.78 +0.02 15YR FNMA 2.5 101.44 -0.05 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.4646% -0.0040 5 YR 1.6364% -0.0147 10 YR 2.5358% +0.0036 30 YR 3.3682% +0.0108 Prices as of: 6/27/2014 4:31PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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