Drew Nagel's (drewnags) Blog

This week the President signed H.R. 3221, Housing and Economic Recovery Act of 2008, into law. The bill contains a provision (SEC. 2113) which forbids FHA from insuring mortgages in which the borrower's down payment comes from a private down payment assistance provider, beginning October 1, 2008....

Commentary:   Trading activity in the mortgage market is very limited this morning.  There is little in the way of major economic data on the agenda this week and next so it appears many market participants have decided to take some time-off through the end of the month.  Be aware that thin trad...