Wed, Jan 8 2014, 1:56 PM
With new rules defining Qualified Mortgages (QM) slated
to kick in on Friday at least two lenders have indicated they will make room
for loans that ...
Wed, Jan 8 2014, 1:51 PM
With the January 10 effective date
closing in the Consumer Financial Protection Bureau (CFPB) is reminding
consumers and lenders of the numerous mat...
Tue, Jan 7 2014, 12:52 PM
Fannie Mae said today that results of
its December National Housing Survey show that the housing recovery is on firm
footing and consumer housing se...
Tue, Jan 7 2014, 12:25 PM
CoreLogic's Home Price Index (HPI)
posted its 21 st consecutive annual gain in November. The company said U.S. home prices, including
distressed s...
Tue, Jan 7 2014, 11:54 AM
On December 18th, Fannie 4.0 MBS were heading into the FOMC's 'tapering' Announcement at 103-12. They shed nearly 7/8ths of a point by the following ...
Tue, Jan 7 2014, 11:01 AM
Standard and Poor's Ratings Direct
Service has made some projections for the coming year. In addition to numerical forecasts for the
economy as a w...
Tue, Jan 7 2014, 10:37 AM
The availability of mortgage credit
bounced back a bit in December the Mortgage Bankers Association (MBA) said
today. Its Mortgage Credit Availab...
Tue, Jan 7 2014, 9:43 AM
"Teach your children about taxes: eat 30% of their ice cream."
They'll also learn something about percentages. If 30% of cities have
rebounded to ...
Tue, Jan 7 2014, 7:00 AM
Even during non-holiday weeks, Mondays tend to run a little light and yesterday was no exception. That said, it did manage the best volume of any s...
Tue, Jan 7 2014, 4:48 PM
Mortgage rates fell
at their fastest pace in 2014 and to their best levels. Such a feat
was only manageable due to what has been an exceptional...
Tue, Jan 7 2014, 4:37 PM
Bond markets trudged farther into positive territory today, this time crossing into the best levels since December's FOMC Announcement for MBS and s...
Tue, Jan 7 2014, 1:55 PM
Smaller markets and those with a strong
energy sector are recovering faster than the nation as a whole the National
Association of Home Builders (NA...
Mon, Jan 6 2014, 12:29 PM
This holiday season I was struck by
similarities between the toothless abominable snowman in Rudolph the Red Nosed
Reindeer and an ideology I have b...
Mon, Jan 6 2014, 12:08 PM
Bond markets were just slightly stronger overnight. Tradeflows in Treasuries haven't been infinitely more robust than Thursday or Friday, but they ar...
Mon, Jan 6 2014, 11:18 AM
So
here we are at the in the first full week of 2014 - and we have some
important things that will definitely impact residential mortgage
len...
Mon, Jan 6 2014, 7:00 AM
After 2 weeks with exceptionally light activity due to holidays and inclement weather in New York, bond markets get back to business today. Not only ...
Mon, Jan 6 2014, 4:37 PM
In several ways, today is/was something of a warm up for the rest of the week. In fact, tomorrow could be similar in that the biggest events of the...
Mon, Jan 6 2014, 3:42 PM
Mortgage rates were flat to slightly lower
today. Activity continued to ramp up following the holidays in the
financial markets most directly...
Mon, Jan 6 2014, 2:38 PM
The New York
Times is reporting that, weather permitting, the Senate may vote Monday
night on the nomination of Janet L. Yellen to lead the Federa...
Mon, Jan 6 2014, 1:59 PM
After a long and contentious delay Melvin L. Watt
was sworn in today to a five year term as Director of the Federal Housing Finance
Agency (FHFA)....
Mon, Jan 6 2014, 1:31 PM
Mel Watt has now officially
taken the reins of the Federal Housing Finance Agency (FHFA),
replacing Acting Director Edward J. DeMarco. He was sworn...
Fri, Jan 3 2014, 12:12 PM
As the next step in its "Know Before You Owe"
initiative the Consumer Financial Protection Bureau (CFPB) plans to look at
what goes on at the home p...
Fri, Jan 3 2014, 12:07 PM
Last
Saturday I mentioned a misspelling in a mortgage document ("...MERS holds
leugal title..."). It turns out that it is not a MERS or Fannie iss...
Fri, Jan 3 2014, 11:34 AM
As expected, we're seeing a lot of reports of thinly staffed trade desks in NY thanks to the snow storm. Almost all of the volume in Treasury futur...
Fri, Jan 3 2014, 4:29 PM
Mortgage rates were even more unchanged
today than yesterday. Not only was the average rate among various
lenders unchanged, but individual l...
Fri, Jan 3 2014, 4:20 PM
MBS began the day on a down note with prices off 5/32nds. In the absence of data (or anything at all, really), bond markets found their footing bet...
Fri, Jan 3 2014, 3:54 PM
As Fannie Mae and Freddie Mac eliminated their 100% and 97% purchase loans
following the housing meltdown, FHA financing once again became a
pre...
Fri, Jan 3 2014, 3:13 PM
The days when people grew up, got married, got a job they would stay with
for life, had 2.5 children and bought a house are gone according to Mortgag...
Fri, Jan 3 2014, 2:53 AM
If there is any reason for market participants to tune in today, it will be the late day speech from Bernanke. That's not happening until 2:30pm howe...
Thu, Jan 2 2014, 12:39 PM
A recent study by Fannie Mae found some distinct differences in the ways
higher income earners look for a mortgage compared to lower income
earne...
Thu, Jan 2 2014, 12:29 PM
In 2011, The Federal Housing Finance Agency (FHFA) announced lawsuits
against 18 financial institutions for securities violations and/or
fraud rel...
Thu, Jan 2 2014, 11:56 AM
We're once again seeing tradeflows overpower economic data in terms of bond market motivation. Most of this morning's data was stronger than expect...
Thu, Jan 2 2014, 11:07 AM
Spending on residential construction increased by
1.7 percent on a seasonally adjusted basis from October to November
while
overall construction...
Thu, Jan 2 2014, 10:05 AM
The U.S. Census Bureau projected that on Jan. 1, 2014, the United States population was 317,297,938.
This represents an increase of 2,218,622, or ...
Thu, Jan 2 2014, 7:00 AM
Today's calendar of economic events includes Jobless Claims, both of the manufacturing PMIs (Markit and ISM), and Construction Spending, making Thursd...
Thu, Jan 2 2014, 4:24 PM
Volume was surprisingly high today, relative to our exceptionally low expectations. Even so, it ranks as one of the lightest days of the year, and ...
Thu, Jan 2 2014, 3:10 PM
Mortgage rates were almost perfectly flat
today. Various lenders were in slightly better or worse shape, but on
average, today's quotes will ...
Thu, Jan 2 2014, 2:48 PM
While investors placing their money and
hopes on single family houses is not a new phenomenon, CoreLogic in its current
issue of MarketPulse , says...
Tue, Dec 31 2013, 12:25 PM
Once you accept the truths in yesterday morning's chart (re-posted below), the rest of 2013 doesn't really matter. To recap:
June 19 was the ...
Tue, Dec 31 2013, 11:39 AM
Thanks to FAMC
for sponsoring the Franklin American Mortgage Music City Bowl . It was
some great publicity for FAMC and the industry. And this is...
Tue, Dec 31 2013, 11:04 AM
One of the government sponsored
enterprises (GSEs) has reached what it says will be the last settlement of a repurchase
request related to loans i...
Tue, Dec 31 2013, 10:32 AM
The S&P/Case Shiller Home Price
Index scored its greatest year over year gain in over seven years in October
the company said today. Both the 10-Ci...
Tue, Dec 31 2013, 7:00 AM
2013 draws to a close today and it will officially break a 20 year trend in bond markets. Since 1993, 10yr yields have returned to the same boundar...
Tue, Dec 31 2013, 3:53 PM
On many occasions in 2013, I've referred to weakness as "seemingly inexplicable." This rarely has to do with the weakness defying explanation and mor...
Tue, Dec 31 2013, 2:28 PM
Mortgage rates were
little-changed today, ending the year less than a quarter of a
percentage point away from their highest levels in more than ...
Tue, Dec 31 2013, 1:30 PM
In its monthly e-magazine
Foreclosure Report RealtyTrac takes a
look at the current and potential impact of legislation designed to rescue the
na...
Mon, Dec 30 2013, 11:46 AM
Lender Processing Services (LPS) said today that its Home Price Index (HPI) was up a slight 0.1 percent in October. The index for the month was $23...
Mon, Dec 30 2013, 11:25 AM
So far today, we have a moderate amount of incidental strength to offset the slightly larger amount of incidental weakness last week. Bond markets co...
Mon, Dec 30 2013, 10:22 AM
Pending home sales technically rose slightly in November, but only after a negative downward revision to October's Pending Home Sales Index (PHSI) ...
Mon, Dec 30 2013, 9:51 AM
Bloomberg reports Blackstone has purchased 41,000 homes across the US in the past 2 years to become the largest single family landlord in the countr...
