Thu, Aug 19 2010, 10:23 AM
Fannie Mae 125% CLTV Product; Feedback on "All Cash" Real Estate Purchases; Updates from Flagstar, Wells, GMAC, Chase, FAMC
Thu, Aug 19 2010, 7:59 AM
U.S. Treasuries traded sideways early in the overnight session but cheapened after the German Bundesbank raised their 2010 growth outlook from +1.9% ...
Thu, Aug 19 2010, 5:51 PM
After reprices, rate sheets are improved vs. offers yesterday. The best execution par interest rate remains in the 4.25% to 4.50% range for well quali...
Thu, Aug 19 2010, 2:34 PM
My most recent post talked about some of the bad habits and practices we’ve uncovered during our FOCIS and FOCIS-plus reviews of mortgage bankers. N...
Wed, Aug 18 2010, 11:40 AM
Stocks are super cheap vs. bonds, we get auction supply terms tomorrow from the Treasury (2s, 5s, 7s), and the econ calendar is thin for the rest of t...
Wed, Aug 18 2010, 10:33 AM
Interesting...the MBA says mortgage rates actually rose last week. I have to disagree with that, mortgage rates did improve last week, but I understan...
Wed, Aug 18 2010, 10:16 AM
Respondents to the Federal Reserves Senior Loan Officer Survey for July indicated that banks are slightly easily credit standards, terms, and conditio...
Wed, Aug 18 2010, 9:54 AM
Worthwhile YSP & HARP chatter; SAFE Act training; continued GFE errors
Wed, Aug 18 2010, 8:40 AM
Markets are relatively calm this morning after equities climbed more than 1% Tuesday. One hour before the opening bell, Dow futures are trading 4 poin...
Wed, Aug 18 2010, 3:08 PM
Spurred on by a dramatic decline in benchmark debt yields, mortgage rates touched new lows last week. Actually I don't know if I should say mortgage...
Tue, Aug 17 2010, 11:58 AM
Equity markets are rallying out of oversold territory and benchmark interest rates are retracing gains that forced the long end of the curve even dee...
Tue, Aug 17 2010, 11:13 AM
Reg Z Rules and Proposals Galore from the Fed; Closing Costs Higher; Freddie Gives Clients "Greater Flexibility"; Fannie Discusses Hardships
Tue, Aug 17 2010, 8:56 AM
The U.S. Census Bureau and the Department of Housing and Urban Development have released New Residential Construction statistics for July 2010. Both p...
Tue, Aug 17 2010, 8:24 AM
Benchmark interest rates are higher and equity futures are rallying ahead of key housing, price level, and production data. In addition, the Treasury ...
Tue, Aug 17 2010, 4:35 PM
Three weeks have passed, the Congress did their job and appropriated unlimited funding for the USDA Rural Housing Program, yet all loans under Section...
Tue, Aug 17 2010, 3:44 PM
Following the release of Industrial Production data, stocks extended overnight gains and benchmark interest rates rose. This pressured mortgage backed...
Mon, Aug 16 2010, 11:38 AM
Today the Federal Reserve Board announced the final rule on loan originator compensation practices. The new rules apply to mortgage brokers and the c...
Mon, Aug 16 2010, 10:40 AM
Builder confidence in the market for newly built, single-family homes edged down for a third consecutive month in August.
Mon, Aug 16 2010, 10:22 AM
More Loan Buyback Comments; MI Rescission Help; Bank MBS Holding Stats; Mortgage Fraud
Mon, Aug 16 2010, 8:41 AM
The week ahead brings new data on manufacturing, housing sentiment and construction, industrial production and producer costs. Last week, the Dow shed...
Mon, Aug 16 2010, 4:54 PM
On Thursday I said this rally has gone too far way too fast, but then on Friday positions were added and the curve rallied a little more. This continu...
Mon, Aug 16 2010, 4:22 PM
Look for mortgage rates to be indicative of competitiveness in the primary mortgage market. There are several factors that go into the determination o...
Fri, Aug 13 2010, 10:48 AM
10s are holding their bid as it appears the overbought status of the flatter yield curve has yet to draw out enough profit taking to deter supportive"...
Fri, Aug 13 2010, 10:32 AM
The monthly U.S. Foreclosure Market Report issued by RealtyTrac reveals that one in every 397 housing units received some type of foreclosure filing i...
Fri, Aug 13 2010, 10:22 AM
A packed schedule of economic data awaits skeptical investors this morning. Before the data, stocks are down for the fourth consecutive day even in li...
Fri, Aug 13 2010, 10:19 AM
Mixed Feedback on Buybacks; More Home Buyers Paying with Cash; Fannie Mae Seller Guide Update; Commercial MBS Deal
Fri, Aug 13 2010, 2:26 PM
Freddie Mac will ask the Treasury Department for another 1.8 billion to shore up its finances after a loss of $6 billion during the second quarter of ...
Thu, Aug 12 2010, 12:22 PM
The Administration is increasing its commitment to fund unemployment/foreclosure prevention programs in the states hardest hit by both problems. Fund...
Thu, Aug 12 2010, 12:02 PM
Buybacks Plague Industry from Top to Bottom: FHA Webinar Today; NMLS Deadlines Loom; Update on Non-Agency Secondary Market
Thu, Aug 12 2010, 9:37 AM
Loan supply is on screens and mortgages are getting smashed in a "bid wanted" environment. Rebate should be worse to start the day.
Thu, Aug 12 2010, 8:46 AM
Markets are more stable this morning but it’s not yet clear if they are ready to recover from the steep losses on Wednesday which pummeled the Dow by ...
Thu, Aug 12 2010, 2:53 PM
I recently attended the Michigan Mortgage Lenders annual conference in Mt. Pleasant, Michigan. The group invited me to speak about current issues and...
Thu, Aug 12 2010, 1:48 PM
Reprices for the worse are unlikely at the moment but I expect to see a retest of the recent interest rate rally in the near future, especially the po...
Wed, Aug 11 2010, 12:40 PM
FHA premium date change; too much industry news to list - much of it good; does buying bonds really help the economy?
Wed, Aug 11 2010, 10:04 AM
The Fed is not ready to totally back out of the market yet! The "de minimis" manner in which they will conduct their operations suggests the Fed is se...
Wed, Aug 11 2010, 8:50 AM
The seasonally adjusted Purchase Index increased 0.3 percent from one week earlier. The Refinance Index increased 0.6 percent from the previous week. ...
Wed, Aug 11 2010, 8:23 AM
Stock futures are weaker and interest rates are rallying, led by the long end of the yield curve. Ahead of Trade Balance Data...S&P 500 futures are -1...
Wed, Aug 11 2010, 5:57 PM
While mortgages definitely lagged Treasuries, mortgage rates improved again today. We are now seeing most lenders offer 4.25% on rate sheets and are e...
Wed, Aug 11 2010, 1:08 PM
The long-end of the yield curve is outperforming today. 2s/10s are another 6bps flatter at 218bps. 10s haven't lost a step since auction results flash...
Tue, Aug 10 2010, 11:35 AM
USDA Rural Housing Funding Update; The Cost of New Regulations; More on the Pipeline Hedging Environment; Mortgage Jobs & New Warehouse
Tue, Aug 10 2010, 8:56 AM
Investors are squeamish ahead of key productivity data this morning as well as this afternoon’s policy statement from the Federal Reserve.
Before T...
Tue, Aug 10 2010, 1:05 PM
Treasury just sold $34 billion 3s. The auction went well. There were 3.31 bids submitted for every one accepted by Treasury. The high yield was lower...
Tue, Aug 10 2010, 1:00 PM
Two Federal Reserve Economists suggest that the answers to arguments over the efficacy of new stripdown provisions for bankruptcy judges actually lie ...
Mon, Aug 9 2010, 10:55 AM
August is the slowest month of the year in financial markets. Many participants have surrendered their Blackberry(s) and will be detached from reality...
Mon, Aug 9 2010, 10:19 AM
Reams of FHA updates; Fannie & Genworth; new correspondent investor; news from Wells, USB, SWS, Texas & SAFE Act
Mon, Aug 9 2010, 9:13 AM
Equity markets are expected to open higher this week despite Friday’s weak employment report, and ahead of the Federal Reserve’s policy announcement T...
Mon, Aug 9 2010, 7:33 PM
Lender rate sheets this morning are improved when compared to last weeks. The par 30 year conventional rate mortgage remains in the 4.25% to 4.50% ra...
Mon, Aug 9 2010, 4:05 PM
The Federal Housing Administration (FHA) published a new mortgagee letter on Friday laying out the details of enhancements to its Making Home Affordab...
Mon, Aug 9 2010, 1:10 PM
Fannie Mae has released their Q2 earnings report. The government sponsored enterprise (GSE) announced a shortfall of $1.2 billion, in the second quar...
Fri, Aug 6 2010, 11:11 AM
Pipeline Hedging and Profit Margins; Still Dealing with the Same Rapid Refi Rumors; Fannie's Q2 Loss; FHA Insurance Funds Dwindle; Renegotiation Polic...
