Tue, Sep 21 2010, 11:43 AM
GMAC Temporarily Suspends Foreclosures in 23 States; Discover Entering Mortgage Biz?; HMDA Data; New DU Version 8.2; Prop 4 in Florida
Tue, Sep 21 2010, 10:37 AM
In the last several months we’ve seen several banks and mortgage bankers create partnerships that are mutually beneficial. If you are bank, poke arou...
Tue, Sep 21 2010, 8:38 AM
Housing Starts improved 10.5% in August, again on the back of the multi-family market, which rose by 39,000 annualized units or 32%. Single-family st...
Tue, Sep 21 2010, 8:21 AM
Interest rates are marginally lower and equity futures are roughly flat ahead of key housing data and the afternoon release of the policy statement fr...
Tue, Sep 21 2010, 4:26 PM
The post-FOMC bond market rally brings mortgage rates back to where they were last Tuesday, which was the best day to lock last week. 4.25% is still t...
Tue, Sep 21 2010, 3:40 PM
Legislation has been introduced in the House which would require lenders and servicers to either act quickly to approve or deny requests for short sal...
Tue, Sep 21 2010, 2:48 PM
Price action was extremely choppy following the release of the FOMC statement. Since the initial knee jerk reaction, benchmark interest rates have ra...
Tue, Sep 21 2010, 2:17 PM
"Information received since the Federal Open Market Committee met in August indicates that the pace of recovery in output and employment has slowed in...
Mon, Sep 20 2010, 11:57 AM
"The stall in the nation's housing market continues. Builders report that the two leading obstacles to new-home sales right now are consumer reluctanc...
Mon, Sep 20 2010, 11:35 AM
Writing to the industry, FHA Commissioner David Stevens reminds us that there is more to the housing market than single-family homes and condos. Lost...
Mon, Sep 20 2010, 10:34 AM
Rate sheet influential MBS coupons are lower and wider in a "bid wanted" trading environment. This suggest demand for production MBS is still M.I.A a...
Mon, Sep 20 2010, 10:31 AM
Update on replacing HVCC; startling broker production stats; TBW/Cenlar updates, along with GMAC, Flagstar, Freddie, and AmTrust news
Mon, Sep 20 2010, 8:44 AM
New economic data is scant this morning but the focus all week will be housing, kicked off by the release of the homebuilder sentiment survey. U.S. s...
Mon, Sep 20 2010, 4:56 PM
Rate sheet influential MBS coupons totally reversed course this afternoon after getting whacked as week began. The November FNCL 4.0 went out +8/32 at...
Mon, Sep 20 2010, 4:37 PM
So far following the strategy of "lock at the MBS price highs and float at the MBS price lows" has worked out well for us. This strategy will be put t...
Mon, Sep 20 2010, 2:21 PM
The Mortgage Bankers Association has issued recommendations for improving the operation of both FHA and Ginnie Mae. Their suggestions focus on progra...
Mon, Sep 20 2010, 1:36 PM
Rate sheet influential MBS coupons are off their lowest prices and widest spread levels of the session. The November FNCL 4.0 is currently +0-03 at 10...
Fri, Sep 17 2010, 12:45 PM
Rate sheet influential MBS coupon prices have fallen back to their session lows. The FNCL 4.0 is -0-04 at 102-01. REPRICES FOR THE WORSE ARE POSSIBLE
Fri, Sep 17 2010, 11:55 AM
The survey shows that consumers see a mixed outlook for housing and homeownership....These findings indicate a return to a more balanced and realistic...
Fri, Sep 17 2010, 10:30 AM
More USDA Rural Housing Confusion; Fannie and Freddie Cost Estimates; FHA High Loan Balance Max DTI; Homeowner Outlook
Fri, Sep 17 2010, 8:40 AM
Led by energy prices, CPI rose 0.3% in August. This was slightly higher than forecast but pretty much on the screws when you back away and look at the...
Fri, Sep 17 2010, 8:25 AM
Both interest rates and equity futures are improving this morning as investor spirits got a bump from better-than-anticipated earnings from Oracle and...
Fri, Sep 17 2010, 4:41 PM
Mortgage rates came into the week on a three day losing streak. After a quick correction on Monday and Tuesday, mortgage rates ended this week on anot...
Fri, Sep 17 2010, 1:14 PM
Fannie Mae is working with the Federal Housing Finance Agency (FHFA) to develop and adopt appraiser independence requirements that will replace the Ho...
Thu, Sep 16 2010, 12:32 PM
Testifying before a House subcommittee, representatives of HUD and Treasury each laid out similar goals and expectations for the future of the governm...
Thu, Sep 16 2010, 12:06 PM
Originator Compensation Conference Call; Reducing Fraud with Freddie; AOTs vs. Direct Trades; Fannie Mae Econ Outlook; New Relock Policies
Thu, Sep 16 2010, 10:15 AM
I bet secondary desks who were waiting to pair off a few hedges are now breathing a sigh of relief as production coupon prices are following benchmark...
Thu, Sep 16 2010, 8:06 AM
Equity futures are marginally weaker and interest rates are smidge lower this morning ahead of key data on inflation, weekly jobless claims, foreign a...
Thu, Sep 16 2010, 5:24 PM
The most obvious development of the day in the bond market was the steeper shape of the TSY yield curve. 2s/10s ticked as wide as 230bps before bargai...
Thu, Sep 16 2010, 5:04 PM
While the credit quality of mortgages held by the FHLBanks is much above the industry average, they have pulled back from mortgage purchase activity.
Thu, Sep 16 2010, 3:49 PM
Foreclosure filings increased again in August according to RealtyTrac. The increase was driven by auction notices and completed foreclosures as, the ...
Thu, Sep 16 2010, 2:52 PM
REPRICES FOR THE WORSE HAVE BEEN REPORTED but the FNCL 4.0 is back in its range and a few reprices for the better have been passed along, not too many...
Thu, Sep 16 2010, 1:16 PM
Secondary market revenues are a large piece of the revenues and profits of a mortgage bank. They are predicated on both volume and GOS. A secondary m...
Wed, Sep 15 2010, 10:03 AM
Is everyone enjoying added chopatility in the bond market? Loan pricing certainly traveled a long distance over the course of the last week. What's f...
Wed, Sep 15 2010, 9:52 AM
FHA Underwater Refi Option; MBS Issuance; TBW & Freddie Mac Relief Open Access; Wells Buying USDA Product; PHH and JP Morgan Loan Purchase Agreement;
Wed, Sep 15 2010, 8:19 AM
Both benchmark interest rates and equity futures are weaker ahead of manufacturing data this morning, which is expected to report a slowdown at regio...
Wed, Sep 15 2010, 4:13 PM
Mortgage rates improved significantly on Monday and Tuesday, putting an end to a three day losing streak that pushed par home loan quotes up to 4.375%...
Wed, Sep 15 2010, 3:03 PM
REPRICES FOR THE WORSE REPORTED. REPRICES FOR THE WORSE REPORTED.
Wed, Sep 15 2010, 2:16 PM
My sister-in-law said the problem was that I was thinking like a borrower instead of a lender. I told her I would stop thinking like a borrower if th...
Wed, Sep 15 2010, 1:11 PM
Rate sheet influential MBS are holding up a bit better than TSY, but prices are still 6 ticks off the morning highs, when some lenders took down their...
Tue, Sep 14 2010, 10:54 AM
BofA's $20 Billion Buyback Issue; MDIA Impact at Month-End; Preparing for an Audit; Jumbo Loans on the Radar;
Tue, Sep 14 2010, 8:57 AM
Sales at U.S. retailers posted their largest gain in five months in August on strong receipts at gasoline stations and clothing outlets, further assua...
Tue, Sep 14 2010, 8:24 AM
Markets are hesitant to head in either direction ahead of the U.S. retail sales report.
Two hours before the opening bell, S&P 500 futures are down...
Tue, Sep 14 2010, 4:52 PM
At this point we are seeking to discover a new range, or move back into the old one. Either way the market needs to define its parameters. Clearly 10s...
Tue, Sep 14 2010, 4:22 PM
If you've been floating, you've endured a bumpy ride over the past 5 days but it was worth your while. MORTGAGE RATES HAVE RECOVERED FROM RECENT WEAKN...
Tue, Sep 14 2010, 2:59 PM
The Obama Administration is encouraging high school educators to start off the school year by enrolling in the second annual National Financial Capabi...
Tue, Sep 14 2010, 2:10 PM
Independent mortgage bankers and bank subsidiaries saw their production volume and production income rise significantly during the second quarter of 2...
Mon, Sep 13 2010, 11:54 AM
The pain trade continued to play itself out in bonds as the week got started in overseas markets last night. General slowness and a "buyers wanted" e...
Mon, Sep 13 2010, 10:11 AM
Bad Mortgage Loans Almost Behind Us?; Lending Tree vs. Zillow; More on Self-Employed Borrowers; RESPA Tolerance Defects; FHA MIP Updates
Mon, Sep 13 2010, 8:52 AM
The week ahead is pretty busy as far as new data goes. Retail sales, industrial production, and inflation data will be highlights.
