Thu, May 9 2013, 2:27 PM
A former
senior official at Wilmington Trust Company, Wilmington, Delaware has pleaded
guilty to one count of conspiracy to commit bank fraud acco...
Thu, May 9 2013, 1:33 PM
Fannie Mae reported today that it had pre-tax income of $8.1 billion in the first quarter of 2013, the largest quarterly results in the company's hist...
Wed, May 8 2013, 12:46 PM
Freddie Mac is reporting that it earned net income of $4.6 billion in the first quarter of 2013, the second largest amount in the company's history ,...
Wed, May 8 2013, 12:10 PM
Take note of the timestamp in the table below as things have changed somewhat from 11:09am EST. Bond markets put in good gains at the outset this mor...
Wed, May 8 2013, 10:22 AM
The decline in mortgage delinquencies appears to be picking up speed according to TransUnion's quarterly delinquency report . The national rate of l...
Wed, May 8 2013, 10:13 AM
What's in a name? Plenty - just ask anyone about how the name Fifth Third came about, or the confusion resulting from RFC to GMAC to Ally to...Green L...
Wed, May 8 2013, 9:04 AM
While refinancing drove mortgage originations, a small uptick was enough to send purchase applications to a three year high according to data from...
Wed, May 8 2013, 6:37 AM
If bond market trading were a movie script , we're at that point just after "the girl" yells at "the guy." In the romantic comedies with the happy e...
Wed, May 8 2013, 4:15 PM
Today's trading was certainly more active than yesterday's in terms of both movement and volume. The movement started out on the weak side in US Hours...
Wed, May 8 2013, 3:03 PM
Mortgage rates were almost perfectly flat today, ending a 4 day trend higher, for now. That trend began on Thursday and of course saw it's biggest...
Wed, May 8 2013, 2:25 PM
In a relatively scathing op-ed published today in the New York Daily News, New York State Attorney General Eric T. Schneiderman again called on P...
Tue, May 7 2013, 11:57 AM
The April edition of Fannie Mae's National Housing Survey revealed increasing optimism in American attitudes toward both housing and the overall eco...
Tue, May 7 2013, 11:38 AM
Much like yesterday, MBS opened in line with the lows from the previous afternoon (yesteray's "previous afternoon" would be Friday, of course). Also ...
Tue, May 7 2013, 10:49 AM
"Rob, do you know if an LO, AE, or correspondent rep has a matching 401(k) plan with their company, are bonuses including in that? Has the CFPB ruled ...
Tue, May 7 2013, 9:28 AM
Home prices measured by CoreLogic increased by 10.5 percent on an annual basis in March, the largest year-over-year increase since March 2006 . The ...
Tue, May 7 2013, 7:37 AM
Monday stood a chance to be eventful, if for no other reason than it was the first day back after Friday's mega NFP sell-off. It turned out to be ex...
Tue, May 7 2013, 4:59 PM
You may have to imagine the title of today's MBS RECAP set to the tune of "Super Freak." Indeed, the trading day was freakishly flat as far as MBS we...
Tue, May 7 2013, 4:38 PM
Mortgage rates rose again today, continuing the steady move higher seen yesterday. In the bigger picture, Friday's jobs report did the most severe...
Tue, May 7 2013, 4:15 PM
Fannie Mae
spotlighted the availability of its Servicing Management Default Underwriter TM
(SMDU TM ) today while alerting servicers that use of th...
Tue, May 7 2013, 1:23 PM
Refinancing volume remained high in February with more than 463,000 transactions completed through Freddie Mac and Fannie Mae (the GSEs) during the ...
Mon, May 6 2013, 12:29 PM
Freddie Mac and Fannie Mae , as directed by the Federal Housing Finance Agency ( FHFA ), took the first steps in implementation of the new " Qualifi...
Mon, May 6 2013, 12:08 PM
With nothing on the economic calendar to move markets and no surprisingly inspirational headlines, MBS and Treasuries have been coasting along in a na...
Mon, May 6 2013, 11:36 AM
In
prepared remarks for a speech before the Mortgage Bankers Associations 2013
Secondary Market Conference on Monday MBA CEO David H. Stevens call...
Mon, May 6 2013, 10:34 AM
How about some historical perspective to help LOs learn a little history on assumable loans? I recently received this note: "FHA and VA had assumable ...
Mon, May 6 2013, 7:21 AM
Apart from a round of Treasury auctions , the week ahead is exceptionally silent, with Thursday's initial Jobless Claims data being the only quasi-si...
Mon, May 6 2013, 4:34 PM
After losing as much ground as MBS and Treasuries lost on Friday, the breadth of expectations for today's trading widened considerably. The biggest r...
Mon, May 6 2013, 2:45 PM
Mortgage rates moved gently higher today compared to Friday's calamitous surge higher, which was among the 5 worst days for rates of the past two ...
Mon, May 6 2013, 2:09 PM
New York Attorney General Eric Schneiderman announced at a press conference this afternoon that his office will be suing Bank of America Corp (BOA) ...
Mon, May 6 2013, 1:43 PM
In yet another indication that the housing market is stabilizing, Lender Processing Services (LPS) said today that new problem loan rates have falle...
Mon, May 6 2013, 1:24 PM
The list of improving markets compiled by the National Association of Homebuilders (NAHB) and First American Title appears to have hit an inevitab...
Fri, May 3 2013, 10:58 AM
The Consumer Financial Protection Bureau (CFPB) has just published three compliance guides to help both lenders and consumers understand some of t...
Fri, May 3 2013, 10:49 AM
The seminar, earning, and agency news just won't stop! Richey May & Co ., an accounting firm based in Denver that specializes in serving mortgag...
Fri, May 3 2013, 8:15 AM
Baseball has been very very good to us--doing a relatively perfect job of helping us characterize the "lead-off" that bond markets have been taking ...
Fri, May 3 2013, 4:29 PM
Today's jobs report made for the first significant swing to the weak side for MBS and Treasuries, but through the rest of the day, losses deepened, ta...
Fri, May 3 2013, 4:03 PM
Mortgage rates shot higher at their fastest pace in two months after this morning's hotly anticipated Employment Situation Report showed that job...
Fri, May 3 2013, 3:31 PM
This morning's Employment Situation Report had been the most hotly anticipated piece of data for bond markets for the past three weeks, and with it's ...
Fri, May 3 2013, 1:43 PM
Each of the government sponsored enterprises ( GSEs ) has released a report analyzing the viability of their multifamily operations under a scenario...
Fri, May 3 2013, 1:02 PM
Approximately 20,000 severely delinquent FHA-guaranteed mortgage loans will be offered to investors through two Department of Housing and Urban De...
Thu, May 2 2013, 12:48 PM
Congressman Elijah E. Cummings recently introduced a bill that would create an independent monitor to oversee the distribution of funds paid by mor...
Thu, May 2 2013, 12:19 PM
There were three pieces of domestic economic data at 8:30am, but only one of them mattered to bond markets. Jobless Claims came in at 324k versus a f...
Thu, May 2 2013, 10:56 AM
Lots of lenders do loans in rural areas, and lots of lenders do loans with escrow accounts, and/or escrow holdbacks (different, of course). The CFPB i...
Thu, May 2 2013, 8:14 AM
A few friends have mentioned that it's baseball season currently, making the recent metaphorical usage of "lead-off's" in bond markets all the more ...
Thu, May 2 2013, 4:23 PM
Yesterday's respectable rally to the best levels of the year turns out to have been markets' way of taking a more defensive stance against this mornin...
Thu, May 2 2013, 3:16 PM
Mortgage rates broke a 4 day winning streak today, moving moderately higher after hitting 2013 lows yesterday. For many, the difference will be im...
Thu, May 2 2013, 2:16 PM
The Center for Housing Policy today released a report on housing affordability among working households in the US. The report concludes an ongoi...
Wed, May 1 2013, 12:25 PM
MBS prices love it when a plan comes together, and that has been the case this morning. The plan--not just for MBS, but broader bond markets too--was...
Wed, May 1 2013, 10:35 AM
CMC, along with several other companies, hedge pipelines, which reminds me of a note I recently received. "Rob, I work for a mid-size wholesale compan...
Wed, May 1 2013, 9:04 AM
Applications for refinancing increased
during the week ended April 26 driving the Mortgage Bankers Association's (MBA)
Market Composite Index up 1.8...
Wed, May 1 2013, 8:46 AM
President Obama has picked a replacement for acting Federal Housing Finance Agency (FHFA) director Edward J. DeMarco according to multiple news ou...
Wed, May 1 2013, 7:37 AM
The bases may not be loaded yet for MBS or our preferred directional guidance giver Treasuries, but at two runners are on, and both are taking their l...
