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The Markets. Rates were up for the first time in several weeks, however this data was released before rates receded in light of the recent Federal Reserve Board's announcement regarding their intention to keep rates low. Freddie Mac announced that for the week ending January 26, 30-year fixed rates averaged 3.98%, up from 3.88% the previous week. The average for 15 year loans rose to 3.24%. Adjustable rates were up slightly, with the average for one-year adjustables increasing to 2.74% and five-year adjustables rising to 2.85%. A year ago 30-year fixed rates were at 4.80%, still almost a full percent higher from this week. Attributed to Frank Nothaft, Vice President and Chief Economist, Freddie Mac, " Fixed rates on home loans ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period." Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes
To read more articles list this, login to our Members section. |
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UPS Savings Program
Save up to 34% on UPS shipping thanks to OAMP!
OAMP members can now save up to 34% off UPS Express air and international shipments. That’s a significant savings over FedEx published rates!* All this with the peace of mind that comes from using the carrier that delivers outstanding reliability, greater speed, more service, and innovative technology. UPS guarantees delivery of more packages around the world than anyone, and delivers more packages overnight on time in the US than any other carrier, including FedEx. Simple shipping! Special savings! It's that easy!
Members currently enrolled in the UPS Savings Program must re-enroll to take advantage of this new exclusive offer.
For complete details or to sign up, click here.
Enroll today!
**Savings over FedEx are based on Retail Counter Rates in the FedEx Service Guide published January 4, 2011 (http://www.fedex.com/ratetools/RateToolsMain.do). |
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If you have not already noticed, 2012 is shaping up to be an even more important year than 2011 in terms of regulatory and legislative change. The CFPB now has a Director, LO Comp is still stifling consumer choice, appraisals issues are still impacting mortgage transactions, and Dodd/Frank is only getting started. New regulation and legislation threaten small business, consumer choice, and the recovery of the US economy everyday.
So, what are you going to do to get involved this year and make a difference???
If you are a Mortgage Broker, Mortgage Banker, Loan Originator, friend of the industry or a consumer....you can still help protect consumers and small business by joining your professional trade association. Please see below for membership applications. You can also help by contacting your legislators to remind them of the unintended consequences of this regulatory environment.
Membership Application
Every Mortgage Originator should pay attention to what is happening in your industry.
Have you read the Mortgage Origination Examination Procedures?
Click on our link - MO Exam Procedures- under the main menu.
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H.R.2086 -- Medical Debt Responsibility Act of 2011 (Introduced in House - IH)
H.R. 2086 would exclude from consumer credit reports medical debt that has been in collection and has been fully paid or settled.
Read the bill and contact your Congressman to support this bill
http://www.gpo.gov/fdsys/pkg/BILLS-112hr2086ih/pdf/BILLS-112hr2086ih.pdf |
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This morning, the Obama Administration announced new changes designed to expand borrower eligibility for the Home Affordable Refinance Program (HARP) program. Login to the members section to see the proposed changes |
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