Tue, Jan 11 2011, 11:41 AM
In typical pre-auction fashion, bond traders are selling short benchmark TSYs in an effort to cheapen up their debt underwriting costs. While producti...
Tue, Jan 11 2011, 11:26 AM
Amherst Explains Massachusetts Foreclosure Reversals; More on Citi's Originator Compensation Guidance; Lots of Lender Updates
Tue, Jan 11 2011, 11:15 AM
10 minute totals in treasury futures shortly after 10am rose to surpass yesterdays highest readings, indicating volume is returning to the market and ...
Tue, Jan 11 2011, 7:50 AM
Equity futures are on the rise and interest rates are backing up a bit after news hit wires that Japan is planning to buy European debt in an effort t...
Tue, Jan 11 2011, 4:33 PM
It was an interesting day for mortgage rates. Benchmark Treasury yields rose and MBS prices fell which forced lenders to reprice for the worse. Howeve...
Tue, Jan 11 2011, 4:16 PM
January delivery Fannie and Freddie 30 year fixed MBS coupon have begun the settlement process and it will soon look like MBS prices just plummeted (m...
Tue, Jan 11 2011, 3:23 PM
You won't notice the effects tomorrow. Lenders have been building loan pricing based on the February coupon for several weeks already. Lenders must ...
Tue, Jan 11 2011, 2:43 PM
While there is not evidence that major U.S. cities will fade into oblivion because of the economic downturn, a new MBA study looks as the possibility ...
Tue, Jan 11 2011, 1:08 PM
In terms of the non-dealer bid (directs and indirects), this is the third consecutive 3-year note auction where dealer participation has declined and ...
Mon, Jan 10 2011, 12:24 PM
Few factors affect the mortgage lending process as much as a borrower's credit score.
Mon, Jan 10 2011, 11:22 AM
Reuters notes that the Fed will begin consolidating CUSIPS (tracking numbers on MBS) in it's portfolio from 44,000 to less than 10,000, citing adminis...
Mon, Jan 10 2011, 9:01 AM
Risk Retention Regs Delayed; Citi Shares Perspective on Originator Compensation; Massachusetts Foreclosures Reversed
Mon, Jan 10 2011, 8:10 AM
No new data hits the market today, but later in the week we’ll see retail sales, two inflation reports, the trade balance, a preliminary consumer sent...
Mon, Jan 10 2011, 6:25 PM
Mortgage rates were generally slightly improved today versus Friday today. The employment data that has been so prevalent in our discussions of late ...
Mon, Jan 10 2011, 4:56 PM
Morning price action was supportive of an extension of Friday's data-driven interest rate rally. The move was uneventful and uninspiring though...
Mon, Jan 10 2011, 4:18 PM
After the 3pm bond market close, 10yr yields have diverged from stocks as both markets make gains (yields down in bonds as stock indices move higher)....
Mon, Jan 10 2011, 1:54 PM
It's turning into a sideways, low volume afternoon. With Japan out today, zero data, and TSY auctions to come still this week, there is little motiv...
Fri, Jan 7 2011, 12:35 PM
Loan Officer Licensing Linked to Credit Reports; Fannie Mae UMDP Training Schedule; Pipelines Thin Out; USDA Update
Fri, Jan 7 2011, 10:34 AM
Price action has been encouraging so far today, but the rally has not ventured outside the range we discussed last night. With 10s approaching 3.30% w...
Fri, Jan 7 2011, 8:30 AM
The December Employment Situation Report has been released. The market is digesting two diverging headlines.
Fri, Jan 7 2011, 8:21 AM
Benchmark Treasury yields are a few bps higher and equity futures are slightly improved as investors wait for the December nonfarm payrolls employment...
Fri, Jan 7 2011, 5:28 PM
Clearly the Household Survey paints a much different picture of reality than the Establishment Survey. Wall Street tends to focus on the growth implie...
Fri, Jan 7 2011, 5:19 PM
Today was an excellent and necessary victory for folks hoping for stable or falling mortgage rates. But the fight is far from over. Getting by this re...
Fri, Jan 7 2011, 3:55 PM
At issue are rules dictating which loans should be exempt from the law's so-called risk-retention requirement, which says issuers of mortgage-backed s...
Thu, Jan 6 2011, 12:43 PM
Good and Bad Feedback on NMLS Process; 2nd Liens on the Move; Another Contractor Mistaken Levels Wrong Home, Texas Cash-Outs
Thu, Jan 6 2011, 11:17 AM
10yr yields are once again knocking on the door at 3.4287, remember they need to make it past 3.42 to confirm!
Thu, Jan 6 2011, 9:58 AM
While I cannot argue with big bank haters who point toward underlying "greed" as the prime motivation for sloppy lending decisions, I must ask, were t...
Thu, Jan 6 2011, 9:48 AM
The market has become more optimistic for Friday’s non-farm payrolls report since Wednesday’s ADP survey tripled expectations by showing a private pay...
Thu, Jan 6 2011, 7:12 PM
Well folks, here we are in the evening hours of Thursday on a week where much has been made of tomorrow morning's employment report (which I'll refer ...
Thu, Jan 6 2011, 5:48 PM
A Reuters poll showed they now foresee the U.S. added 175,000 jobs last month, up from 140,000 before the ADP number was released. Last month’s figure...
Thu, Jan 6 2011, 4:17 PM
3.42+ continues to turn away rising yields as we tick into the less liquid after hours part of the day. The ability of benchmark treasuries to hold su...
Thu, Jan 6 2011, 1:54 PM
Today we must act again to transform our cities. Distressed properties are a drag on our communities and the economy and threaten to topple even more ...
Wed, Jan 5 2011, 12:47 PM
112th Congress Seated; Primary Dealer List Expected to Grow; Bearish Home Price Outlook; Preparing for CMBS Issuance; New Mortgagee Letter
Wed, Jan 5 2011, 11:23 AM
The case is not necessarily closed, but so far this support zone has held up admirably with a few bounces off the the high side closer to 3.43 and ple...
Wed, Jan 5 2011, 9:21 AM
The Employment Situation Report prints on Friday. This data has been our focus for the last two weeks. Why?
Wed, Jan 5 2011, 8:37 AM
The Fed seemed to soothe bond buyers yesterday with generally dovish FOMC Minutes. Dovish = low inflation, low interest rate environment. While the un...
Wed, Jan 5 2011, 8:10 AM
Equity futures are lower and bonds are better on Wednesday morning as investors await key indicators on employment and the services industry.
Wed, Jan 5 2011, 6:16 PM
Yesterday, we wrote "the release of the ADP Employment Report in the morning could provide some directional guidance because that data tends to be a p...
Wed, Jan 5 2011, 4:15 PM
Supposedly strong JOBS DATA was the culprit behind today's forced liquidation of post 7-year note auction longs and the ultimate retest of 3.50% (prof...
Wed, Jan 5 2011, 4:15 PM
It makes more sense to view recent yield highs merely as a convenient location for things to run out of steam in this seller-dominated trading day. Af...
Wed, Jan 5 2011, 3:53 PM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the weeks ending December 24, 2010 and December 31, ...
Wed, Jan 5 2011, 2:55 PM
Bargain hunters have parked their wallets and moved to the sidelines and sellers are making their presence known in the "rate sheet influential" belly...
Wed, Jan 5 2011, 1:42 PM
The "Live MBS Updates" Section of our new MBSonMND Dashboard has been a great indicator of that volatility today. It is updated as market conditions w...
Tue, Jan 4 2011, 11:17 AM
A trader from Cantor Fitzgerald wrote, "In order to win in 2011, you need to be right about the timing of the economy turning around. In my mind it's ...
Tue, Jan 4 2011, 10:36 AM
Four Housing Issues to Watch in 2011; Quarterly NMLS Call Reports; Budget Debate Looms; BoA Buyback Resolution Feedback
Tue, Jan 4 2011, 8:34 AM
Both Treasury yields and S&P futures moved mostly sideways in Asian trading before making a directional move as London came back to work around 3AM e...
Tue, Jan 4 2011, 5:26 PM
Today held one of the few market events with the potential to move mortgage rates between now and Friday's employment situation report.
Tue, Jan 4 2011, 4:17 PM
10's tested this morning's highs in earnest, briefly eclipsing the 3.3578 mark from 9:54 AM to touch 3.361, but have since returned to sub 3.34 levels...
Tue, Jan 4 2011, 3:41 PM
Of course news that Bank of America had settled GSE repurchase claims on loans written by Countrywide (for pennies on the dollar) brought out a chorus...
Tue, Jan 4 2011, 3:32 PM
One of the key metrics wholesaler and correspondent lenders monitor on a regular basis is their pull-through ratio. Pull-through references the numbe...
