Secondary

Most of the 4% year-over-year increase came in the first part of 2013.

The news of the $10 billion cut in purchases led 14 of the 17 Mortgage Industry Equity Composite stocks to close lower.

President Obama hit on several important issues for bankers in his annual address to Congress Tuesday night, including mortgage finance reform, though as expected financial services issues largely took a backseat to other national concerns, like unemployment and the minimum wage.

The homebuilder has the largest percentage increase among Mortgage Industry Equity Composite stocks one day after it received an analyst downgrade.

The mortgage insurer is one of only two Mortgage Industry Equity Composite stocks to close higher on Monday.

The provision includes about $3.5 billion for lawsuits and fines tied mostly to the sale of $91 billion of mortgage-backed securities from 2005 to 2007.

Interactive Mortgage Advisors is exclusively brokering the mortgage servicing rights, which have a wide geographic dispersion outside of a less than 19% Texas concentration and less than 10% California concentration.

The consumer must purchase the flood coverage in combination with homeowners insurance. The company lays claim to being the first admitted carrier in the state to offer such coverage post-Biggert-Waters.

There have been low levels of homebuilding in Nevada, Arizona, California and Florida due to the glut of cheap, distressed homes that flooded the market during the recession.

Democrats want the new FHFA director to lift suspension on GSE funds to build and preserve affordable rental units.