fhfa is a independent federal agency that regulates fannie mae and freddie mac. from the bipartisan policy center, this is about an hour. >> good morning, everybody. like to welcome you all to the bipartisan policy center. i was just saying to henry that nothing gets my blood proflowing morning running from broken red line and vigorous discussion of housing finance. so i'm delighted to be with you all. as many of you know strengthening the nation's mortgage system has been a major focus of the bipartisan policy center over the last several years almost to the day three years ago our housing commission put forward what we thought was very comprehensive finance reform plan. we thought it helped to focus and inform the congressional debate and significantly to the warner and johnson-crapo bills. i see a few leaders. ron terwilliger. lori good man. barry zigas somewhere in the house. barry, always sited on the outside. and i notice that you all are a little uncomfortable having forgotten our three-year anniversary i do want you to know you have a few more days. actua

i meet several times a month with the ceos of freddie mac and fannie mae.n addition to my attendance at board meetings, i have regular conversations and engagement with each enterprise's board share to help elevate issues that need to be resolved. have -- that require advanced approval by fhfa. deciding which items we should delegate to the enterprises and which should require fhfa approval is a judgment call, and finding the right balance is an ongoing process. there are decisions that are obvious choices for fhfa to make, such as setting the core components of the guarantee fees charged by fannie mae and freddie mac. others are closer calls. while we retain the authority to step in and make the call on any issue, even ones that we have previously delegated, we have found that providing as much clarity as possible about roles and responsibilities serves everyone better. the fourth prong of our conservatorship model is oversight and monitoring of thisprise activities, and is something that happens on an ongoing basis. it is probably not an overstatement to

encouraging lenders to loan throughout the fannie mae and freddie mac credit box. you know, that's all we can do because fannie mae and freddie mac don't loan, we just take loans that other people make and take them off of their books or back them or securityize them. [ inaudible ] we have done in a responsible way and continue to do what we can do on credit risk transfers. our concern is, will there be enough private investor money out there to sustain what we're doing now, and in a downturn will that -- will that still be available? so i don't mean to minimize the value of that. i think it's very important that we have done substantial credit risk transfer transactions and we will certainly continue to do that. >> there's a question over here. yes, sir. you go ahead. this gentleman right here. >> thanks. you spoke very clearly and eloquently about the ongoing risks of the indefinite conservatorship for the basic functioning of fannie mae and freddie mac. could you talk more specifically how those risks in the indefinite nature of conservatorship how it affects af

which will then sell them to freddie mac, that's the government backed mortgage giant.reddie mac and fannie mae have been offering similar loans for a year now, but they have been little used by home buyers. partly because like the new loan, they require a high credit score and cricket underwriting. that's different from the run up to the housing crisis. >> still have to verify assets, you still have to verify your income. importantly there's counseling involved. by a self-help group, in terms of getting the mortgage, and if you run into problems so these are features we never saw during the sub prime boom. >> for now, b. of a. plans to issue no more than $540 million of these loans. that's a fraction of the $1.36 billion made by bank of america last year. inesse per ray, al jazeera. >> the nfl will have to return millions of dollars that wrongly with held from players. an arbitrator found that league owners miss characterized roughly $120 million of ticket revenue. nfl players associate discovered the discrepancy during an on going audit, and they filed a grievance on

. >> they will sell mortgages to self help, which will then sell them to freddie mac. freddie mac and danny may have been offered similar loans for a year now but they are little used by homebuyers, because they require a high credit score and strict underwriting. >> you still have to verify assets. you still have to verify your income. importantly, there's counseling involved by the self help group in terms of getting the mortgage and if you run into problems, so those are features that we never really saw during the sub prime boom. >> for now, b. of a. plants to issue no more than $500 million of these loans, a fraction of the $1.36 billion in f.h.a. loans made by bank of america last year. al jazeera. >>> thanks for watching. more news next from doha. we'll have obama live at 10:30. >> announcer: this is al jazeera. ♪ >>> hello and welcome to the news hour. i'm in doha, here is what is coming up in the next 60 minutes. a crisis with no end in sight. more than 100,000 refugees and migrants have arrived in europe this year alone. >>> desperate scenes at the border as

but everyone should be worried when you start to talk about freddie mac being involved and worry becauseo matter what we still bail out the banks. >> on the dow, and what has been going on with the markets, you always remind me, you don't go pouncing on a day but let's go pouncing summon days here and a thousand point comeback, it could be a bear market rally. what do you think? >> two weeks ago the das waugh down 400-points and only closed down 200-points. a reversal. that was a double bottom. then today we close above 16,500. a huge resistant point. led my names like united technologies, led by the financials you were talking about. i if we're going to have a rally it's great to have it beyond the facebooks and amazons. all the industrial names are coming back and many of them are really cheap. that's encouraging. still i see is trading in a tight pattern for most of the. >> , although i do believe we were oversold a couple of weeks ago i. >> charles payne, always great my friend. >> you got it. >> the guy is an an encyclopedia. >> you know that bernie sanders attracts the young in ove

. >> fha will sell loans to freddie mac. freddie mac and sally may has been offering similar loans but they require great credit and strict underwriting. >> usually there is terms involved from the self-help group. those are featuring that we never saw during the boom. >> the new loans is a fraction of the $1.36 billion made by fha. the bank said someone with a $150,000 mortgage. new cost could be around $782. that's about $100 less than the same mortgage through fha. >> and the key being they have to have a high credit score. is this a trend that we expect other banks to follow. >> one analyst told us, not really unless you can fund these non-profit groups like self help. they would like to get away from the fha, but they need these groups to back these loans. >> thank you very much. >> the nh nfl will have to return $120 million it wrongly held from players. the nfl players association discovered the discrepancy and filed a grievance on the matter last month. >>> several head coaches at the university of tennessee will add

freddy mac says the 30 year rate sled to 24.73% rates have continued to fall despite the decision to raise rates. as the price of commodities have dropped, it has pubbed down long term rates. >> mcdonald's latest salad has a big mac. the premium southwest salad with butter milk crispy chicken starts with a nutrition base but once the restauranttiles on the chicken, the corn and the dressing, it comes in as a whopping 710 calories, 43 grams of fat and 1330 milligrams of salt. the big mac turns out to be a better choice.choice. >> still to come at noon, the idea behind these designer footballs. edition of pet pals, where this >> you won't be seeing footballs like the ones you are about to see. >> these fashion footballs were dreamed up by the council of fashion designers of mechanic. it is all part of the super designers with glamorous takes on the ball. among the participants, big names such as tiffany a and company and betsy johnson, gold leaf, metal spikes can be seen throughout the series. >> each piece is being auctioned online from now until february 14. proceeds will go to the n

freddie mac says the average rate on a 30 year fixed-rate mortgage slid 3.72 percent down from 3.79 last week. its lowest rate since 3.68 percent in april of last year. as the price of commodities, investors sought refuge in the u.s. pushing down long-term u.s. rates. >>> rescue crews on the scene of a crane collapse in manhattan. several injured. award-winning coverage of lynchburg, danville, bedford, roanoke, and the new river valley. >> noreen: at least one-person dead after a massive crane collapsed in lower manhattan this morning. three others seriously injured. mayor bill de blasio said theblasio said the crane was being lowered as a of wind. the crain's boom landed across ropes. the person killed was sitting in a parked car. he says when speeds were around 20 miles an hour when the crews arrived, so the decision was made to secure the crane. they were directing people away moved. >>> a standoff in florida with a wanted missouri couple ended in a shoot out overnight. [gun shots] >> noreen: the u.s. marshals service says blake fitzgerald and brittany harper were shot in santa rosa c

they are offering this in conjunction with freddie mac and self help ventures fund which would absorb most of the losses if a borrower defaulted. they must have a credit score of at least 660 and above and income levels below the local area median income. what they're trying to do is spur low income borrowers to be able to buy homes. you know, after the financial crisis, borrowing for homes became very stringent. banks were very stingy with all of that. they're trying to do something about that right now. we'll see if it works. >> see you tomorrow. >> time to turn to storm team 4's dave price. >> you bet. rally on wall street, rally on the thermometer. what a weekend we had. what a terrific monday. 47 degrees outside. just beautiful. mostly sunny skies. week. let's go to the headlines right now and see how long we can weather. i'll give you a hint. a wintery mix heading our way tomorrow. as we head to wednesday, it looks like the winds pick up and the rains come down. let's talk about the map. we have the temperature as we mentioned in central park, close to 50 degrees. 49 at jfk. we

some is about what's going to happen to fannie mae and freddie mac and our mortgage finance system which really is still operating on temporary measures that were put in place in 2008. we haven't fixed that yet, and we need to. and congress is the one that needs to do it. we are working with fhfa. we are working with other agencies to help deal in the interim, but congress really does need to act. >> as we close out today, we are about done. but i want to just one more time say, you know, we did start with the bad news of but the good news is once we get through those repossessions, etc., things should be -- >> things should stabilize. >> a little bit more stable. sounds good. thanks for being here today. >> thank you. >> appreciate it. that does wrap up today's "eye on washington," but we are always here for you providing all the top federal news that nevadans need to know. you can just visit our website joycecommunications.com where you can subscribe to our nevada's washington watch newsletter while you're there. be sure to like us on facebook. you can follow me on twitter. thanks for

. >> reporter: freddy mac and fannie mae have been offering similar loans for a year now, but have beensed by home buyers, partly because they require a high credit score and strict underwriting. >> you still have to a verify assets. you still have to a verify your income, importantly there's counseling involved by a self-help group in terms of getting a mortgage and if you run into problems, so those were features that we never really saw during the subprime boom. >> reporter: for now they plan to issue no more than $500 million of these new loans, that's a fraction of the billions of dollars in loans made by banc of america last year. >>> when we come back, the oceans rising at their fastest rate in thousands of years, humans are being blamed. >>> and showing the heart breaking but life-saving work during the ebola outbrake. >> people take money. wicked people. >> you are creating a society that can be rotten to the core. >> anas risked his life to report the truth. >> to save his people. >> doesn't matter who you are, i come with my cameras. >> only on al jazeera america. >> al jazee

parte del problema aseguraron, es que el gobierno a traves de las agencias, hud, fannie mae y freddie maciendo rematar los prestamos emproblemados, a firmas privadas, y no a organizaciones sin animo de lucro. jovana fajardo/organizacion acce 7:19 estos programas como hud fueron presentados para presentar a la comunidad mas bien estan ahi para darle mas dinero a los especuladores y a las companias de wall street 7:28 el reclamo no es nuevo y ciudades como richmond oficialmente enviaran una carta al gobierno con esta queja. gayle maclaughlin/concejal de richmond 1:23 this non profit las organizaciones sin animo de lucro trabajan por mantener al propietario en su casa, modificando la hipoteca, mientras que firmas de wall street, desalojan a la gente, rematan la casa o la rentan a altos precios... pilar nino 41:46 y aunque estos prestamos problematicos ya estan empezando a ser vendidos por el gobierno a organizaciones sin animo de lucro, son solamente cientos, mientras que a wall street son miles de ellos 41:57 en la manifestacion de hoy no solo se fustigo al gobierno federal sino tambien al

stuart: 3% down give you a mortgage and insurance from freddie mac. that is the deal.please donald trump polls in south korea, jeb drops out key publican establishment is did is dying on the vine. i hate to be pejorative but i think of u.s. establish and religion. >> you always that. i know both worlds is the anti-establishment world anti-establishment world but i love how dramatic are that the establishment is dead. the establishment be in trouble, in pretty deep trouble right now because i can is a catch-up game for the establishment. against 4 months since the only attacking donald trump and jeb bush now that factor is gone so who's going to take up the baton, the anti trump baton is a year ago. i am the one that has to go directly against donald trump? you are seeing ted cruz and marco rubio aren't that will they have to spend up especially among the a because right now what we are seeing is a endorsement and the big money on the establishment at all king at marco rubio as their standard bearer. "cavuto coast to coast" now the democrats, hillary clinton beat bender

. >> you did see some encouragement from fannie mae and freddie mac pushing lenders to lend more to people lower income. in real life. john: hollywood depend on good guys and bad guys. the idea we all play a role is tougher to digest. part of the big short i didn't like was the many references to the bangers' greed. -- was the bankers' greed. john: it's so stupid. of course, the banks got greedy. we are all greedy in a way we would like to make more money. that's the purpose of being in business. it doesn't mean your breaking laws or cheating. everybody wants more money. the question is are the incentives to make more money doing something to lead people to do bad things or not? >> the film's conception of greed is a little bit off. it basically said the banks helped to rig the system. so in some ways there was bad behavior on the part of banks. but wouldn't the bangs have not wanted the system to melt down? wouldn't they have not wanted to be in a situation where little guy and vestors, the heroes of this movie could short them and make tens of millions of dollars? >> they would like to b

freddie mac says the average mortgage... drped 3-point-72 percent this week. the averag rate a 15 year fixed rate mortgage is also down... slidinto 3-point-01 percent. xxxx applis reptedlofring an i-phone trade ,...even if it's damaged. according to multie reports, apple will soon alw users to trade in i-phone 5s, i-phone and phone 6 plus unitthat ve broken screens,uttons and caras for the newemodelsf the smartphone. apple's curren"re-use d recycle phonade-in program" allows stomerto trade in old undamaged iphones. apple thinkshat e updateo thprrawillncra stertopgdehe i phoneso newer models rat valentin daypending. the national retail federation sa americans spo their loved ones--and plan to spend, o average.. 1-ndred 46 dollars on flowers, candy, jewelry and other gifts. all that spending expted to bring total spending on vante's day arecord high" of over "1billion" doll xxxx but mo pressing--is... what on the menu for superbowl sunday?? chicken wings are a fan favorite,i'll grilling and deep frying ffalo wings on sunday. wings... are planning for a record ..

freddie mac says the average rate on a 30-year fixed-rate mortgage dropped to the lowest its been since april of last year. the average rate on a 15-year fixed- rate mortgage is also down. the deadline to claim a 63-million dollar lottery prize has come and gone. without verifying a claim, the prize will go to california school systems. two people have claimed the winning ticket - but state officials haven't verified their claims. this year's super bowl -- is now just two days away... and for those who don't yet have a ticket but still want one -- the price is getting very steep... jay gray shows us how francisco! the host of super bowl 50." it is -literally- the those who want to be a part of football history by the bay.. "you know, you just wonder if you're ever going to get the opportunity to go" for dennis and judy brubaker.. life-long broncos fans.. super sunday.. will be bowl" and they'll celebrate inside levi's stadium.. at their first super bowl.. with a romantic dinner.. "i'll buy her a beer and a hot have a seat yet.. time, and the is a very expensive ticket." five-thousand do

and freddie mac said the rate on 3.62%. that's down from a week ago. the lowest level since february last year. decline was seen in the fixed rate. they are helping with the affordable i as housing supply pushes the prices higher. >>> oil prizes led to gains. the dow is up more than 200. >> a lot of green. >>> solid. >> nasdaq and s&p rising 24. >>> florida is not the only place cleaning up from the severe weather. >>> it clobbers cities up the east coast. and we have how it hit very hard in virginia. >> violent weather slams this town of 2000 a 2 year old was among those closed. >> i never saw it dangerous before just on tv but not here. that's what is shocking. >> the weather hit without warning. the damage is significant. this laundry is among the structures destroyed. >> it came fast and went fast. >> heavy rain caused a basement wall to collapse trapping a man who went to check on his pump. a firefighter said he is lucky to be alive, the only thing that post right there. >> dozens of buildings in pennsylvania sustained damage. >> we could see a ga

freddie mac says the average rate on a 30 year fixed rate mortgage dropped to 3.72 percent. that is the lowest rate in nearly a year. rates have continued to fall despite the federal reserve's decision to raise short term rates. the traditional gift for the 50-th is gold...and pizza hut is going all out for the super bowl's milestone anniversary. 50 random customers who order the stuffed garlic knots pizza today will get this: a pie topped with real gold! the special-edition pizza has nearly 100 dollars worth of edible, 24- karat gold. it comes in a specially-designed golden box, along with a 100 dollar pizza hut gold card. that's tonight's financial focus. let's go to 13 action news we've already broken into the 70s this afternoon and high temps are expected to continue in the low 70s through at least next weekend. expect breezy winds through here in the lley with gusts peaabout 25 mph. a wind advisory is in effect for the colorado river valley and lake mead through monday night. gusts could peak to 40 mph in these areas. sunny to mainly sunny skies are expected each day th

it goes on to freddie mac.oan, the self-help fund will take the hit. >> can i just say, i think what is crittably important about this and great news for individual americans out there, no private mortgage insurance. this is a lot of money that people have to pay out if they don't have the 20% down. with this extremely careful screening process, they won't require this anymore. that means 100 bucks to people, each and every month who barely have the money to put together to have a house, to fund the car, et cetera, et cetera. this is good news. once more it means the big banks are not leaving mortgage lending. for years and years we've seen the mortgage industry has been dominated by small-name, no-name companies. bank of america is in it to win it. >> they're in it to make money. neil, this is the thing about them. it is only $500 million deal. you still have to have a credit score of 660 which isn't great. what it means, your income has to be below the median. so basically for lower income people who have don

market strengthened at the end of 2015 - posting its good news for potential home mortgage buyer freddie mac says the average rate on a 30-year fixed-rate mortgage dropped to the lowest its been since april of last year. the average rate on a 15-year fixed- rate mortgage is also down. fire and burn hazards are prompting dollar general to recall about 27-thousand remote control construction truck toys. the store has received five reports of the toy's remote control overheating. no injuries have been reported. contact dollar general for a full refund. and we're nine days away from valenitne's day and we're learning spending...is going up. according to the national retail federation, people plan to spend nearly 150-dollars on their loved one this valentine's day. what's the most common gift people will be spending their money on? nearly half of the people surveyed responded...candy. it's xxx we're wrapping up today in iowa with the forecast from storm track seven meteorologist kyle kiel next. time is now xxx developing overnight. a u-n panel says wikileaks founde julian assange should be freed.

freddie mac says the average rate on a 30-year fixed-rate mortgage dropped to 3.72 percent this week. that's down from last week, and it's the lowest since it averaged 3.68 percent in april of last year. what's going up... is americans' spending on valentine's day. as americans spoil their loved ones, they'll spend an average of nearly $150 on flowers, candy, stuffed animals, jewelry and other gifts this valentine's daa. that's about 4- dollars and 50 cents more than last year. so what is the gift most people will be spending heir money on? 50 percent of those surveyed said they plan to buy candy. a unique publicity stunt at the london premiere of the new "zoolander" movie. star ben stitiler went for a gunniess world record for the longest selfie stick. ferrell, kristen wiig and other stars from the movie. the selfie stitik was almost 28 feet long. fans cheered as a guinness official certified the record. a man in mississippi became an online sensation for riding his horse wearing a dinosaur suit. but he's not just a viral video star. he's also a champion horseback ridee. michael gasc

. >>> mortgage buyer freddie mac said the average rate on a fixed mortgage dropped to 3.72% this week. the average rate on a 15-year fixed-rate mortgage is down. hollywood superstar ben stiller went to great lengths to get a selfie at the london premier of zoo zoolander 2. he took this shot at a guinea record for the longest selfie stick. he took the photo with will farrell, kristin wiig and other fans cheered as a ed ed as guinness official cheered. >> when we go to the oscars, we should break that record. a 29-foot selfie stick. i like it. here's the weekend outlook, sunshine up and down the east coast, the storm will be a memory. windy conditions in the plains, beautiful in the pacific northwest and the california coast, 78 in los angeles. tomorrow, sunday, sunday! we're looking at snow around the great lakes, beautiful weather along the east coast although showers develop along the southeastern atlantic coast. fabulous weather through florida, california, nice that it's a national weather person's day. and here you go. super bowl forecast, santa clara, california, 8:00 a.m., cool,

bank of america cuts fha out and said the loans are backed in a partnership ship with freddie mac. >>d corporate america had a great tax season. new data showing a similar drop in audits of tax exempt groups as the agency deals with staffing declines. as a result, collections of auto related revenue fell. in an interview with "usa today," the irs commissioner blames budget cuts that have reduced the agency's annual funding for several years. >>> right. let's get to what's trending in this morning's news. first up, mastercard using selfies to verify mobile payments. british users will be able to snap a selfie to validate their purchases. pilots are set in the u.s. and netherlands. the system will be available in 14 other countries by december. i have to say, i'm sad i'm not going to be in the uk to take part in this. selfie, allowed to take one every time you buy something. >> seriously, it's an effort to beef up security and also the sa nowing hold as it these companies place on your kargcar and declines that the companies put on your cards for an precaution. >>> in barcelona, a new a

for more good news -- "freddie mac" says for the fifth week in a row... the average long- term mortage rate has dropped. for a 30-year fixed rate loan... it's now 3-point-72 percent.it's also the lowest since last april.the average also dropped for 15-year fixed rate and adjustable rate mortgages. the zika virus is spreading and it isn't slowing down. cases of the zika virus have reach more than 50 here in the united states and span 13 states and the nation's capital. capital.in florida -- public health emergencies have been issued in five counties.at least 12 of the reported cases in our country have come from florida.and even as we hear about all the ways zika can spread -- the biggest concern comes for this. :32 dr. bobby kapur kapur: only one in five individuals who have been bitten and infected by a mosquito actually show any signs or symptoms. the most common kinds of symptoms include fever, rash, joint pain, and conjunctivitis. meantime -- researchers in brazil say they have found the and urine samples -- with the potential to cause infection. the

>> vis-À-vis fannie mae and freddie mac?> yeah. >> i'm not, you know, i don't have -- i'm sorry, i don't have numbers on --nse of at t >> give me a sense of what the to ensure that we are protecting consumers whilee at the same time differentiating between community banks and the big banks. >> well, would you say we are>> protecting consumers -- >> while at the same timeile, at differentiating the regulations that impact the small banks versus the big guys. >> so consumer protection is a r very important part of ourand supervision, and the cfpbxaminet examines the larger banks in terms of their consumer consumer compliance, and oure responsibility is now with the smaller banks and community banks where we have consumer protection enforcement.tailor or we try to tailor our examinations, our consumer exams, of the community banks se that they are not too burdensome and they are focused on real risks. >> do you feel you've been co successful in that detailing from a community bank standpoi standpoint? >> we are focused on regul

are going to disqualify pbut because at the end of the pday they're selling those pmortgages to freddie mac and pfannie mae and the other pmortgages, you do have to pqualify. pit's not like anybody can get it pas you did in 2006 and 2007. pyou do have to have a reasonable pcredit score. pyou do have to be able to come pup with a down payment. pwith f.h.a. loans, it's small, pbut you do have to qualify. pas long as they maintain those pstandards, these processes pshould work. p>>russell: expect to see more of pthis. pis this a new trend, do you pthink? p>> there's no question about it. pthey don't have the same capital prequirements at the bank. pthey operate more efficiently pand it's a competitive business. eople want mortgages, they want pto refi and therefore, these pcompanies will do business. p>>russell: god to see you. ptalk later. p>>laura: 20 minutes from the top pof the hour now. psome of you are paying about panalysts say it could go even plower. poil prices are plunging. panother benefit, lower air pfares. pmany airlines are passing full pcost savings onto the assengers. pthe ave

decrease in their growth mean to the american taxpayer like with freddie mae -- like fannie mae and freddie mac>> oh, i'm sorry,. >> give me a sense of what the fed is doing to ensure that we are protecting consumers while at the same time differentiating between community banks in the big banks? >> when you say we are protecting consumers -- >> while at the same time differentiating the regulations between the community banks in the big guys. >> consumer protection is an important part of our supervision. cfpd examines the larger banks in terms of their consumer compliance. is now withbility the smaller banks and community banks where we have consumer protection enforcement. we try to tailor our examinations, our consumer exams of the community banks so that they are not burdensome and they are focused on real risk. >> do you feel you have been successful in that tailoring? >> we are very focused on regulatory burden on community banks. we are trying to do both in the safety and soundness side and on the consumer compliance side, everything we can to reduce burden while still making sure that

fannie mae and freddie mac were not touched at all. they were the ones allowing folks in his room to get homes that they could not afford and they were hurt. the regulators had wild authority and power. they failed. instead of taking a look at the regulation regulators, we re-and powered regulators and the wonder that big banks after dodd frank have not gotten smaller. big banks have gotten bigger. thatmall community banks service a lot of the folks in this room and folks in my community are going away. that's a big problem. i had to get that off my chest. about ita lot to chat as the chairman of the oversight committee, i have concerned about your willingness to comply with our requests. we sent a letter in investigation on the oversight of the fed asking you for information regarding communication. no compliance. then the send you a sip in may you did not comply with that. inhad partial compliance october. we are now one year after my initial letter. i have asked you for excerpts of ef multi transcripts in regard to the discussion an

you cannot ignore fannie mae and freddie mac.ginated, they had something to do with it. to congress has told them move risk away from taxpayers and into the sophisticated investor. that is us. we love that situation. the banks and the lending environment has gotten so conservative, that basically the underlying credit is good. and likemer is paying, we just spoke about, is likely to continue to pay. the fundamentals are really good. the challenge is the market volatility creating a much for different pricing dynamic -- a much different pricing dynamic. things have much more attractive prices, but it is the right time to step in in the short term. right now the short term is a challenging picture to interpret. but in the long-term, we love it. erik: are you talking about the quoted price on security, or are you talking the middle of the did ask, or the widening spreads? >> all of the above. one of the most difficult technical situations we have seen since the crisis, steadily since 2011. there are fewer broker-dealers participatin

mortgage buyer freddie mac says the average rate on a 30-year fixed-rate mortgage dropped to 3.72 percent. that's down from last week and it's the lowest since it averaged 3.68 percent in april of last year. the average rate on a 15-year fixed-rate mortgage is also down, sliding to 3.01 percent. storm team ten meteorologist kristina montuori has more -- kristina?? today: scattered wintry mix with highs in the middle 40s tonight: light scattered snow showers with lows in the upper 20s tuesday: scattered snow showers with highs in the upper 30s wednesday: light snow for our western counties.flurr ies for everyone else.highs in the lower 30s thursday: increasing sunshine with highs in the upper 20s friday: increasing clouds with highs in the upper 30s.late-day & overnight snow showers possible saturday: morning & early afternoon snow showers possible.late- day clearing sunday: mostly sunny with highs in the lower 30s . today: scattered wintry mix with highs in the middle 40s tonight: light scattered snow showers with lows in the upper 20s tuesday: scattered snow showers with highs in the upp

fhfa is a independent federal agency that regulates fannie mae and freddie mac. from the bipartisan policy center, this is about an hour.

..mac. >> vis-À-vis fannie mae, freddie mac?'m sorry i don't have numbers on that. >> tell me, give me a sense of what the fed is doing to ensure we are protecting consumers about the same time different shading between community banks and big bank's? >> when you say we are in consumers? >> while the same time differentiating the regulations that impact the small banks versus the big guys. smacks of consumer protection is a very important part of our supervision and the cfpb examines the larger banks in terms of their consumer compliance and our responsibility is now with the smaller banks and community banks where we have consumer protection enforcement. we try to tailor our examinations, our consumer exams of the community banks so that they are not too burdensome and they are focused on real risk. >> do you feel you have been successful in that tailoring from a community bank stan point? >> we are very focused on regulatory burden on community banks and we are trying to do both on the safety and soundness side and on the cons

we should run off fannie mae and freddie mac, right? when you go to a bank today, i can get a conventional mortgage at a rate under 4%. but it doesn't conform. so why do -- if banks are willing to lend money below 4% for mortgages, why do we need a u.s. government agency? >> the thing that you have a problem with all this, scott, is that the sudden hi we can make bolzmakers around the globe for not doing something in the past couple of years. now, we got along fine with socialist europe for the past 10, 20 years. we got ahopping fine woun the government or congress doing things to make the economy work better. so this is all happening in a concerted fashion at once because governments aren't doing enough? >> i'm not saying government is not doing enough. >> the structure of things in europe and -- >> but look at dog fray. it's a fight mayor i'm not saying they're not doing enough. they're doing the wrong stuff. and we need to get -- >> oh back ma care. >> go down the list of things. the supreme court finally had to step in and say enoug

freddie mac says the average mortgage split from 3.79% to 3.72% last week. declined. alix: and a penny got cheaper to make. it costs more than one cent. the government got a break from collapsing metal prices. pennies are made almost entirely out of zinc, and the u.s. mint says last year each cost a little more than 1.4 cents to make. as recently as 2011, the penny called almost -- cost almost 2.5 cents to mint. empowerment women's conferences are everywhere from women.'s summit to ted alix: they can be highly profitable. registration costs could set you back as much as $10,000, but how effective are they in making a difference for women? it is the cover story of "bloomberg businessweek. -- she look aitor halter. what do they get out of it question mark -- out of it? heelah: those willing -- those women value the ability to do the kind of networking, and a couple have said they had never met a another woman who had a stay-at-home husband to support the career until they went to a conference like that because they are so isolated in mail-dominated industries.

what about fannie mae, what about freddie mac?r got fired in those organizations? why is it they never talk about that, julie, as if just all wall street and government had nothing to do with this debacle? >> you're not audience they're appealing to, right? martha: i'm just interested in the truth. >> they're appealing to primary democratic voters not all of whom, majority of whom are vastly disgusted way things happen on wall street. martha: all their fault. >> rich are get be richer, poor are get poorer. income inequality is top issue among democratic primary voters. bernie sanders capturing imagination of democratic electorate. katherine is right, with she took the money from wall street she should have known it would eventually bite her. you can't take money and criticize them down the road as candidate. of course it is trying to affect her. she was trying to be so announced about this. she is right. this is not just wall street issue. this is issue across the board over many, many different industries. but bernie sanders has

>> you haven't gone to bernie sanders -- >> they should give senators that supported fanny and freddie macose years, should be in jail with the wall street people. how's that -- >> very nice. >> kids are donating to bernie sanders and you'll find out about it. >> watch out netflix apple is eyeing original programming, word that dr. dre will serve as executive producer of an apple produced television series. more on this story when we come right back. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. all across the state the economy is growing,arts today. with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in the hudson valley, with world class biotech. and on long island, where great universities a

you're not talking about credit risk when you're talking about fannie mae and freddie mac.in this asset class. as we are in a zero rate environment we have seen nonpoor investors play in the high-yield and distress. the market has taken a leg down. wiped outstors get because they are swimming in it will where they don't know how to swim? >> is a little extreme, but certainly you can see some of tourists get pushed out. we have seen high-profile sales in the last month or so. it is not the core strategy. be a sureu would bearish on the economy, and bearish on stocks. you look to the solution. that great opportunity. >>. just four minutes away from the open. ♪ stephanie: we are moments away from the opening bell. you are watching bloomberg go. let's give you a check on yahoo!, it in the green this morning. the official talk that yahoo! could be pursuing a potential reader and as the prices dropped so significantly it could he more attractive. after liquidators sinking the cdc reversed its own findings earlier this month. the company has a higher cancer risk. all of this news

. >> but is that wise in some way with the government still controlling fannie mae and freddie mac?to be more reasonable, wouldn't you? >> you know you have spent the last, 25 minutes talking about too big to fail. >> right. >> the government is scared to death of a repeat of 2006, 2007, and the government doesn't move in nuances. the government moves like a plodding rhino and so the result is, that you know, we now have, backlash, which is we're not going to make too many mortgages. we're not going to take too much risk. we're going to have highest fico scores ever. >> which is decreasing risk of a slowdown and possible recession? >> certainly in the past housing has been a enormous contributor to the economy. it has, and we have seen a lot of multifamily construction. we've seen a dearth of single family construction. if you saw yesterday's report, you know, mental set of the builders is turning negative as well. maria: take a short break. much more with "mornings with maria" when we come right back. maria: welcome back, president obama standing firm on his plan to nominate the ne