Tue, Dec 14 2010, 11:57 AM
Wells Shuts Down NorCal Operations Site; CitiMortgage Reaching Out to Consumers; DU 8.2 Implemented; Feedback from the Trenches
Tue, Dec 14 2010, 11:27 AM
Rates starting rising after 830am data and they haven't really stopped rising since then. If you are floating, beware, lenders may reprice for the wor...
Tue, Dec 14 2010, 11:01 AM
In a paper developed for the Federal Reserve, an economist looks at the literature to determine the impact of retained risk on the performance and pri...
Tue, Dec 14 2010, 8:32 AM
Retail Sales show strong gains in seasonal consumer spending but larger sales volumes also reflect rising energy costs. On the surface this supports t...
Tue, Dec 14 2010, 8:28 AM
Benchmark interest rates are higher while equity futures are mixed Tuesday morning ahead of key retail sales data and the afternoon policy statement f...
Tue, Dec 14 2010, 6:14 PM
Bonds got killed, revived, and killed again numerous times today. All in all it was about a 20bp rise in YIELDS in the 10 yr which can be seen occurr...
Tue, Dec 14 2010, 2:15 PM
The FOMC Statement has been released. As expected there was no change in the Fed's tone or outlook. The December statement is essentially the same as ...
Tue, Dec 14 2010, 1:52 PM
This morning's data was not supportive for bonds. But the overnight session kicked things off in a bad direction even before that. What we've seen s...
Mon, Dec 13 2010, 12:05 PM
The Federal Reserve has updated their QEII asset purchasing schedule.
From December 13th to January 11th the New York Federal Reserve's trading de...
Mon, Dec 13 2010, 11:45 AM
GSE Layoffs Loom as Fannie and Freddie Prepare for Reform; Ginnie & MISMO; FHA Short Refi Program Conference Call; Lots of Lender Updates
Mon, Dec 13 2010, 9:46 AM
Although a year-end lack of liquidity can be cited as a catalyst for exaggerated increases in interest rates lately, it's pretty obvious that bargain ...
Mon, Dec 13 2010, 8:57 AM
The calendar of economic data was thin last week, but the next few days brings key numbers on retail sales, manufacturing and production, and cost pre...
Mon, Dec 13 2010, 6:19 PM
Things can slow down at work and get busier in your personal life during December. And regardless of the time of year, who doesn't appreciate a Frida...
Mon, Dec 13 2010, 4:10 PM
Plain and Simple: For 30 year fixed mortgages, there is a clear line of demarcation between 4.625% and 4.75%. If you are looking to close in the next ...
Mon, Dec 13 2010, 2:31 PM
Last week, we noted that lenders were not likely to add production into year end. In addition we talked at length about the "big difference" between ...
Mon, Dec 13 2010, 1:50 PM
CoreLogic released a report Monday showing a decrease in negative equity nationwide. The improvement, it said, was due more to the foreclosure of pro...
Fri, Dec 10 2010, 11:44 AM
After going out in the 3.22 range last night, the benchmakr 10yr TSY note pushed higher out the gate this AM all the way up to 3.28% where support was...
Fri, Dec 10 2010, 11:22 AM
GSE Reform is Top Political Priority; Feedback on Discriminatory Lender Overlays; DU 8.2 Rollout this Weekend; Investor Bulletins
Fri, Dec 10 2010, 8:42 AM
The trade deficit narrowed considerably more than expected in October as exports increased 3.2% and imports decreased by 0.5%. Bonds started selling a...
Fri, Dec 10 2010, 8:24 AM
Equity futures are moving higher Friday ahead of key trade balance and consumer sentiment data. And interest rates are moving higher too.
Fri, Dec 10 2010, 4:27 PM
Mortgage rates shot higher this week. The new "best execution" par 30 year fixed mortgage rate has jumped firmly up to 4.75%.
Fri, Dec 10 2010, 3:10 PM
The National Association of Realtors® recently called on Fair Isaac Corp., developer of the FICO score model, to revise some of its computations to ta...
Fri, Dec 10 2010, 2:13 PM
Twenty months into HAMP, many troubles still exist and the program seems to have run out of steam.This is evident from all the processing problems we ...
Fri, Dec 10 2010, 1:37 PM
Downside implications are mitigated somewhat by the fact that trading volumes are very low and liquidity is greatly lacking. Fast$ day traders are ind...
Thu, Dec 9 2010, 11:27 AM
The 10yr note yield just shot up from 3.228% to 3.271% for seemingly no reason. Then I got my POMO email alert from the FRBNY and it made more sense.....
Thu, Dec 9 2010, 11:06 AM
FHA Condo Project Approvals Extended; Discriminatory Lender Overlays; State Level Stimulus Needed; Qualified Loan Tests
Thu, Dec 9 2010, 10:32 AM
At 830am, weekly jobless claims printed at 421k vs 425k median estimates. Many of the report's metrics showed improvements, but despite a few "best l...
Thu, Dec 9 2010, 8:48 AM
Plain and Simple: if you weren't already aware, the CFPB is looking to combine TIL and RESPA disclosures into one document. Home loan disclosures are ...
Thu, Dec 9 2010, 8:24 AM
Benchmark interest rates moved mostly sideways overnight but are off yesterday's highs. Equity futures are moving higher Thursday, continuing on from ...
Thu, Dec 9 2010, 7:03 PM
Mortgage rates got cheaper at the table today but didn't improve in principal
Thu, Dec 9 2010, 6:47 PM
Today we saw an aggressively bid 30 year bond auction give benchmarks a boost but positive progress eventually stalled at a long term technical resis...
Thu, Dec 9 2010, 3:34 PM
December Fannie and Freddie 30 year fixed MBS coupon have begun the settlement process and it looks like prices just plummeted.
Thu, Dec 9 2010, 2:54 PM
There are a couple really nice components to point out in today's $13 billion Treasury bond auction.
Wed, Dec 8 2010, 10:48 AM
Ever hear us say "mortgage rates rise much faster than they fall". This is a factor of extension risk and right now we're learning a painful lesson on...
Wed, Dec 8 2010, 10:40 AM
The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey for the week ending December 3rd, 2010. The Market Composite ...
Wed, Dec 8 2010, 9:32 AM
Borrower Paid vs. Lender Paid Originator Compensation; Servicing Deals; Early Payoffs; LO Licensing Requirement Deadline
Wed, Dec 8 2010, 9:06 AM
Benchmark interest rates continued to move higher overnight in response to news that a compromise had been achieved on both the extension of Bush era...
Wed, Dec 8 2010, 7:10 PM
Plain and Simple: There is a clear line of demarcation between 4.625% and 4.75%. If you are looking to close in the next 2 weeks...4.75% is your likel...
Wed, Dec 8 2010, 3:45 PM
Today, there are only a handful of investors buying loans from mortgage bankers. There’s even a smaller amount of investors that offer mandatory comm...
Wed, Dec 8 2010, 2:34 PM
As we approach 2pm, it is becoming painfully obvious just how much of today's weakness was and was not a factor of an auction concession...
Wed, Dec 8 2010, 1:11 PM
We're seeing modest improvements in the aftermath of the auction, mostly led by the futures market. I would say this is more short covering than outri...
Tue, Dec 7 2010, 12:21 PM
Enterprise risk can be understood to have an impact on all parties and policies of your organization. From the recruiting and hiring practices for the...
Tue, Dec 7 2010, 11:52 AM
Mortgage Firms Looking to Hire; Updates on TPO Identification Requirements; USDA Refinance Funds Exhausted Again
Tue, Dec 7 2010, 9:33 AM
Seems like we'll be stuck with these rates at least into early 2011.
Tue, Dec 7 2010, 8:56 AM
Equity futures are pointing to a strong open this morning following President Obama’s announcement late yesterday that he had struck a deal with Repub...
Tue, Dec 7 2010, 6:19 PM
The economic environment has provided plenty of compelling talking points for us to argue either angle (bullish or bearish), but year-end is not the t...
Tue, Dec 7 2010, 5:22 PM
When all was said and done, prices of loan production MBS coupons (which guide lender rate sheets) had fallen over a full point! To bring that number...
Tue, Dec 7 2010, 3:05 PM
The weak 3yr note auction at 1pm did little to help an already negative bias in the bond market. Ok, so it did the opposit of 'help.' It's not that ...
Tue, Dec 7 2010, 2:44 PM
Few Americans expect the housing market to recover before 2012 according to an online survey of foreclosure attitudes conducted by RealtyTrac, Trulia,...
Tue, Dec 7 2010, 2:27 PM
The Mortgage Banks Association has formalized its objections to proposed new regulations forlenders in a letter sent to FHA Commissioner David Stevens...
