In an effort to strengthen the Mutual Mortgage Insurance Fund, FHA Commissioner Carol Galante announced an increase in mortgage insurance premiums. The full text of the release is available here: http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2013/HUDNo.13-010

A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, December 11, 2012, at 11:00AM and continued on Wednesday, December 12, 2012, at 8:30AM. The minutes from these meetings were released a few moments ago, and have caused turmoil in the bond markets (including mortgage-backed securities). The major news is that some members anticipate the FOMC’s bond buying program to end in 2013. This is far sooner than the markets had expected. As such, mortgage-backed securities prices have worsened by as much as 50 basis points. The full text of the minutes can be found here: http://www.federalreserve.gov/newsevents/press/monetary/fomcminutes20121212.pdf

Fannie Mae has reduced its documentation standards for HARP loans, allowing borrowers to verify assets in lieu of income.  The full release is available here:  https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2012/sel1209.pdf