Today, federally required Mortgage disclosures make lenders look like they’re trying to hide fees. Fixing this is the CFPB’s first big test.

Today’s must-read links… -New Government-Assisted Refi Program Coming (MarketWatch) -CHART: Areas With Most-Underwater Homes (NewYorkTimes) -The Eurozone Crisis Explained in Brief (RobertSinn) -Kids With Huge Jobs At Treasury (BusinessWeek) -UK Shifting from ARMs to 30yr Fixed? (FT) -Is Teaching A Profession (Weakonomics)

Today’s must-read Originations links. I’ll comment more tomorrow on the CNNMoney piece. Mainstream media just can’t get it right: they’re either parroting expired Freddie rates Thursdays through Sundays, or they’re going alarmist with rate comments they don’t understand. -Europe Bailout Fund Will Have $6 Zillion Dollars – #sarcasm (iBankCoin) -Can Govt Get Loan Modifications Right [...]

Usually I don’t repeat foreclosure numbers, for a variety of reasons. But the latest numbers were so bad I had to say something: the number of notices of default jumps 25.9% from the second quarter. An estimated 71,275 notices of default were filed against California properties during the three months that ended Sept. 30, with [...]

In general markets trade off of future prospects and the prospects of a huge government-sponsored refi plan is roiling the markets. Any plan must help a broad group of homeowners, stimulate the economy, and cost next-to-nothing. Below is a continuation of yesterday’s post, and I also did some more analysis for mortgage banking consultants Stratmor [...]

There’s chatter yet again about a government-sponsored major refinancing program to help underwater homeowners. Here’s the trail of how the latest story crept from a trade mag, through Wall Street mortgage trading desks, and to the New York Times. In this case, the trader is the most reliable source. Brian Collins with National Mortgage News [...]

-It’s Not What Bernanke Will Say This Week, It’s Why (ReformedBroker) -Can Google+ Replace Your Company’s Intranet (VentureBeat) -Blogging Is A Long-Term Proposition (AbnormalReturns) -Do Loan Modifications Increase Unemployment? (WSJ) -The Recession of 2011? (John Mauldin) -QE3 On Way? (PragCap)

As Bloomberg notes, loan modifications are still stumbling along (click pic). Besides mortgage industry colleagues I know who have chosen to specialize exclusively in loan modifications, no other sources I’m aware of are working for borrowers seeking loan modifications. And forget attorneys who’ve seen this problem as a money-maker. They don’t know the industry, and [...]

Rates down slightly today after the Federal Open Market Committee (FOMC) kept overnight bank-to-bank Fed Funds Rates and Fed-to-bank Discount Rates unchanged at .25% and .75% respectively. They’ll keep rates low for an extended period, and QE2 will end as scheduled June 30. Below are key remarks on rates, jobs, mortgages, and home prices he [...]

The government is exploring ways to liquidate hundreds of billions, or trillions, of Fannie & Freddie portfolios. There are 15 F&F-related bills in the House, little interest in the Senate about doing anything soon, and the NAR and mortgage-related groups arrayed against House Republicans, who are now looking to peddle F&F’s assets. If a mortgage [...]