Wed, Oct 20 2010, 10:32 AM
Less than 34 months after its official launch, all 50 states have joined the Nationwide Mortgage Licensing System and Registry (NMLS, or the System). ...
Wed, Oct 20 2010, 10:19 AM
Freddie Mac's Rate Survey; FRBNY Suing BofA; Loan Buybacks; NMLS & Credit Reports; FHA Training; Wells Fargo Earnings
Wed, Oct 20 2010, 8:29 AM
U.S. federal regulators will meet on Wednesday to discuss the foreclosure crisis amid concerns it could affect the housing market and broader economy,...
Wed, Oct 20 2010, 4:31 PM
"A lot of the technicalities of what causes mortgage rates to go up and down are way past me... in the past couple of weeks mortgage rates have gone d...
Wed, Oct 20 2010, 3:52 PM
Bank of America and GMAC have announced they will be resuming foreclosures but the brief lived moratorium has created its own momentum. There are oth...
Wed, Oct 20 2010, 1:59 PM
There has been a modest uptick in activity but the fundamentals of a sustained economic recovery are not present. The question is: ARE MODEST IMPROVEM...
Tue, Oct 19 2010, 12:49 PM
Stocks are flagging lower, the yield curve is bull flattening, and positive price appreciations across the curve have led rate sheet influential MBS ...
Tue, Oct 19 2010, 11:29 AM
BoA and GMAC Resume Foreclosures; Feedback on HVCC's "Replacement"; Faulty Note Transfers; DU Early Check Reports; HECM Saver
Tue, Oct 19 2010, 9:19 AM
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 539,000. This is 5.6 percent (±...
Tue, Oct 19 2010, 9:19 AM
Rates did react negatively to the release but it is important to note that weakness was present in the bond market prior to 830 housing data. There's...
Tue, Oct 19 2010, 8:43 PM
On first releases of rate sheets this morning, consumer borrowing costs were basically unchanged. However after stocks really began selling off (follo...
Tue, Oct 19 2010, 8:24 AM
Interest rates are higher and stock futures are falling ahead of housing starts and building permits data. Further clarity on the Federal Reserve’s pl...
Tue, Oct 19 2010, 7:09 PM
We're all waiting for the dust to settle, it just never seems to dissipate. Hopefully America doesn't turn into Gotham City.In the here and now, all R...
Tue, Oct 19 2010, 2:01 PM
One shop I recently visited staffs their entire operations department with 100% independent contractors. After 3 years and about 150 shops, this is th...
Mon, Oct 18 2010, 11:45 AM
The long end of the yield curve is catching a corrective bid and "rate sheet influential" MBS coupons are tagging along for the ride. Rebate is a litt...
Mon, Oct 18 2010, 9:37 AM
GSEs Release HVCC Updates; Broker Compensation & YSP Clarification; 15 Year Prison Sentence for Mortgage Fraud
Mon, Oct 18 2010, 8:56 AM
A slow macroeconomic data calendar in the week ahead includes industrial production today and housing starts Tuesday, but more important may be the he...
Mon, Oct 18 2010, 4:07 PM
Last Thursday I posed the question: Are We Too Complacent with Record Low Mortgage Rates? On the surface my intention behind this query was to draw yo...
Mon, Oct 18 2010, 2:37 PM
The monthly NAHB/Wells Fargo survey of home builder perceptions improved for the first time in five months. Builders are seeing some increased buyer ...
Mon, Oct 18 2010, 1:09 PM
It's very clear that the Obama Administration doesn't support a 50 state foreclosure moratorium, but I haven't seen them offer up much in terms of a s...
Fri, Oct 15 2010, 11:50 AM
The pain trade is playing out in the long end of the yield curve but "rate sheet influential" MBS coupons are displaying resiliency.
Fri, Oct 15 2010, 11:49 AM
Our industry is cyclical and we need to be reminded of the need for a "Plan B" quite often. When things are really good, chances are they will turn u...
Fri, Oct 15 2010, 11:20 AM
Early Pay-Off Penalties Hit Originator Wallets; Foreclosure Uncertainty a Real Issue; Wells Wholesale Accepting BoA Appraisals; Reasons for Buybacks
Fri, Oct 15 2010, 8:41 AM
Ben was clear that QEII is coming, but was very cautious when discussing possible policy approaches in relation to the two headed mandate monster. The...
Fri, Oct 15 2010, 7:41 AM
If another QE program is to be effective, the Fed will need to expend much energy managing the market's rational expectations. This means the FOMC's c...
Fri, Oct 15 2010, 4:23 PM
Ok so record low mortgage rates stayed around for about a week. But they're gone now. I could go through all the economic data and attempt to tie a ra...
Fri, Oct 15 2010, 3:08 PM
Federal regulators have expanded the list of Community Reinvestment Act approved activities to include educational loans to low-income students and jo...
Fri, Oct 15 2010, 2:16 PM
Benchmark 10s are at session price lows/yield highs, which has dragged "rate sheet influential" MBS coupon prices even lower.
If you have not recei...
Thu, Oct 14 2010, 12:15 PM
Benchmark 10s are just about back to their session high yield as Treasury prepares to release the results of their $13 billion long bond fundraiser. T...
Thu, Oct 14 2010, 11:02 AM
FDIC Chairperson Sheila Bair told a Washington audience on Tuesday that servicer incentives need to be reformed to encourage loan modifications rather...
Thu, Oct 14 2010, 10:47 AM
"Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog of distressed properties ...
Thu, Oct 14 2010, 10:31 AM
Top 10 Loan Servicers; Confusion on JP Morgan's MERS Relationship; Money Flowing into Mortgage Banking Deals
Thu, Oct 14 2010, 8:59 AM
Rate sheet influential MBS prices are basically flat but likely heading lower ahead of the bond auction (IMO). Reprices for the better were not wides...
Thu, Oct 14 2010, 8:28 AM
Benchmark interest rates traded in a tight range overnight near yesterday's yield lows while equity futures ticked sideways near yesterday's highs. Cu...
Thu, Oct 14 2010, 7:04 PM
Consumer closing have been slowly creeping higher though. If this trend keeps up, by next Friday everybody will be asking "Hey. Where did 3.875% go? 4...
Thu, Oct 14 2010, 2:07 PM
Lock desks have plenty of pipeline coverage after selling forward about $5.5 billion in loan supply over the past two days. That left dealers long yes...
Wed, Oct 13 2010, 12:16 PM
The FHA has requested comment on regulatory changes that will strengthen its ability to force lenders to indemnify or reimburse the FHA for claims ag...
Wed, Oct 13 2010, 10:45 AM
"After five weeks of steadily declining rates to yet another new low, borrowers who had been on the fence jumped off, which factored into refinance ac...
Wed, Oct 13 2010, 9:58 AM
White House Against Nationwide Foreclosure Moratorium; Corporate Cash Surplus; JP Morgan Chase Earnings; 3.0s Trade
Wed, Oct 13 2010, 8:42 AM
The yield curve is steeper and benchmark interest rates are higher ahead of a $21 billion 10-year Treasury note auction. The 2s/10s curve is 3bps stee...
Wed, Oct 13 2010, 5:12 PM
Consumer borrowing costs were what I would consider "noticeably more expensive" this morning when lenders first released rate sheets. While home loan ...
Wed, Oct 13 2010, 3:33 PM
I called attention to the phrase "the servicer must work with counsel". I am not sure if this guidance was intended to be a solution or not. If it ...
Wed, Oct 13 2010, 2:51 PM
"Rate sheet influential" TSYs have found a bid after running into a key technical support level. To the delight of the dealer community, flows have sh...
Wed, Oct 13 2010, 1:01 PM
It is widely anticipated that the Fed will announce QEII in the not so distant future, which should push bond prices higher and lead yields lower. Fro...
Tue, Oct 12 2010, 11:34 AM
One billion dollars in emergency funds will soon be available to help homeowners "bridge" their mortgage payments while they recover from the impact o...
Tue, Oct 12 2010, 9:37 AM
The December FNCL 3.5 is trading +0-08 at 101-03. Trading flows are thin ahead of the 3 year note auction and FOMC minutes but rates are recovering fr...
Tue, Oct 12 2010, 9:26 AM
Originator Loan Buybacks Still an Issue; Input on Lender Turn Times; Goldman Sachs Freezes Foreclosures; eNotes; Investor Updates
Tue, Oct 12 2010, 8:55 AM
The holiday shortened week ahead is filled with data, Federal Reserve speakers, debt auctions, and the beginning of earnings season
Tue, Oct 12 2010, 5:39 PM
After a slow overnight session that left rates better bid heading into the domestic trading day, benchmark TSY yields and rate sheet influential MBS p...
Tue, Oct 12 2010, 5:13 PM
Mortgage rates improved to new record lows last week, rallying in five straight sessions before finally reversing course following the release of the ...
