Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

17% of homes with a mortgage seriously underwater

Share of underwaters continues slow decline

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
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The Ticker

Morgan Stanley annual 1Q earnings increase 55%

April 17, 2014
Morgan Stanley recorded a first quarter surge in earnings with a 55% increase as higher revenue from its institutional securities business augmented another strong quarter from wealth management.
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Palisades to oversee Oaktree's mortgage assets

April 17, 2014
Palisades will serve as the credit manager of pools of single family residential loans held in more than thirty individual securitization trusts beneficially owned by Oaktree, representing over $3.2 billion of unpaid principal balance.
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California home prices reach highest level in 6 years, don’t slow home sales

April 16, 2014
In March, the median price for a home rose to $366,000, which was up $16,000 from February and marks the highest price since March 2008. Despite the high price tag, home and condominium sales were up nearly 21% for the month.
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National Mortgage Insurance Corp. now licensed in all 50 states

April 16, 2014
Company's licensing approval in Wyoming means it's licensed in all 50 states and the District of Columbia.
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Ginnie Mae halts MSR transfer from BAC to nonbank

MSRs lack documents, firm says
April 16, 2014
American Banker has a great scoop on Ginnie Mae halting the transfer of MSRs from Bank of America.
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JPMorgan mortgages as profitable as a 10-year Treasury bond

Where did the incentive to make mortgages go?
April 16, 2014
If the lending environment continues, JPMorgan Chase might as well just have put its money in a 10-year Treasury bond than provide mortgages. At least that is what one article is arguing.
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Housing starts increase 2.8% after cold winter

Single-family numbers rise again
April 16, 2014
Housing starts were at a seasonally adjusted rate of 946,000, a 2.8% increase from the revised February estimate of 920,000, but a 5.9% drop from the March 2013 rate of 1,005,000, with strength in the single-family component picking back up.
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With prices at six-year high, Southern California home sales hit a six-year low

April 15, 2014
The high costs are driving the amount of sales to a six-year low. There were a total of 17,638 new and resale houses and condos sold in the Southern California area in March. That's the lowest in March since 2008.
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Wells Fargo to expand acceptance of e-sign docs

April 15, 2014
The move comes months after the Federal Housing Administration’s announcement that it would be accepting more electronic signatures on mortgage-related documents as well.
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First mortgage default rate falls to 1.13%

S&P: More homeowners can afford their house
April 15, 2014
All five national indices showed a drop-off for the second month straight in March, with the first mortgage default rate hitting 1.13% in March, the lowest level since September 2006.
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