Thu, Jul 15 2010, 11:20 AM
FHFA Opposes PACE Program, California Files Lawsuit; Financial Reform Vote; New Housing Counselor Handbook; FDIC Selling Distressed Loans
Thu, Jul 15 2010, 8:48 AM
From a fundamental perspective, risk markets have taken this bearishly skewed data into consideration, but that's about as far as we can go with funda...
Thu, Jul 15 2010, 7:42 AM
Stocks have gained more than 7% over the past five trading days, but yesterday the Dow inched up just 0.04% while the S&P 500 fell 0.02%. After a mixe...
Thu, Jul 15 2010, 6:42 PM
Rate sheet influential MBS got their keister kicked by Treasuries today but price levels rose enough to give lenders a chance to reprice for the bett...
Thu, Jul 15 2010, 5:49 PM
The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank reposs...
Wed, Jul 14 2010, 10:33 AM
Fixing a consumer's credit is not an easy process, nor is it quick. Depending on the make-up of defaults, it can take years to rebuild a credit profil...
Wed, Jul 14 2010, 10:31 AM
Mortgage Investor Gossip; FICO Scores and Loan Production; "Hardest Hit" State Housing Programs; FHA Mini-Eagles;
Wed, Jul 14 2010, 8:26 AM
Stocks are once set to open higher after Intel beat estimates with sales jumping by more than a third in the second quarter. The computer chip produce...
Wed, Jul 14 2010, 4:35 PM
Call me crazy but I think we've been witnessing a lender price war in the primary mortgage market.
Wed, Jul 14 2010, 4:05 PM
A new report on mortgage fraud released on Wednesday indicates that approximately one in every 200 loan applications contains a misrepresentation that...
Wed, Jul 14 2010, 3:34 PM
Stimulus is wearing off and the economy is trying to gain recovery traction on its own (with the help of a 0.00-0.25% Fed Funds Rate). While the macro...
Wed, Jul 14 2010, 1:33 PM
After the auction/Ahead of the FOMC minutes, traders are acting as if they expect to see bearish outlooks in the FOMC minutes.Stocks, which retested 1...
Tue, Jul 13 2010, 12:14 PM
Money is flowing out of bonds and into stocks ahead of the release of the 10-year Treasury note auction results.
Tue, Jul 13 2010, 12:07 PM
All individuals, companies and organizations experience change. Some change is drastic and some is slight. How we confront and adapt to change defin...
Tue, Jul 13 2010, 10:23 AM
HARP Subordination Scenario; Jumbo Loan Foreclosure Numbers; Rates Low But Fewer Qualified Borrowers; International Homebuyers
Tue, Jul 13 2010, 8:31 AM
The stock market is set to open higher after Alcoa kicked off the second-quarter earnings season with better than expected results. One hour before th...
Tue, Jul 13 2010, 5:11 PM
The S&P rallied 1.54% today, extending it's winning streak to six days, benchmark Treasury yields closed at their highest levels in almost three weeks...
Tue, Jul 13 2010, 3:26 PM
Beyond the human costs, local and federal government suffer very real economic impacts from homelessness. The homeless, particularly those who are ch...
Mon, Jul 12 2010, 12:52 PM
The Federal Housing Finance Agency (FHFA) has issued subpoenas to 64 companies seeking loan documents and other information related to private-label m...
Mon, Jul 12 2010, 11:17 AM
Lenders who released pricing early this morning or desks that had extra juice built into rate sheets may reprice for the better. However, although st...
Mon, Jul 12 2010, 10:59 AM
Congress Goes Back to Work; Reverse Mortgage Volumes; Fannie Appraisal Changes; G-Fees
Mon, Jul 12 2010, 9:24 AM
The benchmark S&P 500 jumped more than 5.4% in last week’s holiday-shortened week. But the index remains about 3% off its 50-day moving average, accor...
Mon, Jul 12 2010, 5:48 PM
You won't notice a difference tomorrow. Lenders have been building loan pricing based on the August coupon for several weeks already, that's why I've ...
Mon, Jul 12 2010, 3:55 PM
Although the calendar has more to share in the week ahead, mortgage rates are still expected to take their directional guidance from the sentiment of ...
Mon, Jul 12 2010, 1:07 PM
Stocks are attempting to breakout of their recent range, benchmark interest rates are higher, the yield curve is steeper, and rate sheet influential M...
Fri, Jul 9 2010, 12:46 PM
The empty econ calendar, congressional vacation ,holiday shortened work week is coming to an end with little fanfare. Trading volumes are low and non-...
Fri, Jul 9 2010, 12:21 PM
This week I attended the Western Secondary Market Conference sponsored by the California Mortgage Bankers Association. During my discussions with sev...
Fri, Jul 9 2010, 12:06 PM
The Fed, The Economy, And Mortgages; Loan Production Picks Up; Wholesale Lender Updates
Fri, Jul 9 2010, 8:44 AM
The S&P 500 has gained 4.1%, or 42.2 points in the past two days. This morning stock futures are mixed. One hour before the opening bell, Dow futures...
Fri, Jul 9 2010, 4:50 PM
Risk On? Risk Off?
Although BIG PICTURE perspective has been the primary source of risk averse investing pessimism, the market is still dominated b...
Thu, Jul 8 2010, 12:42 PM
Wells Fargo Cutting Jobs; Consumer Credit; SAFE Act Resource; M.I. Update; Manufactured Housing Lenders
Thu, Jul 8 2010, 9:45 AM
Stocks are apathetically maintaining recent positive progress. Regardless of a lack of investor participation and generally mixed reads on price actio...
Thu, Jul 8 2010, 8:09 AM
Equity futures are roughly flat this morning after a financial sector-led rally yesterday pushed the Dow up 274 points to beyond the 10,000 mark. Lit...
Thu, Jul 8 2010, 2:21 PM
Stocks are off week over week highs, the 10yr note is ticking back down toward 3.00%, and rate sheet influential MBS prices are approaching reprice fo...
Thu, Jul 8 2010, 1:03 PM
The National Association of Realtors reports that a stronger dollar and improving economy are motivating many international buyers to purchase homes i...
Wed, Jul 7 2010, 11:43 AM
Typically, in weeks like this, the bond market and mortgage rates take their directional guidance from the general sentiment of the market. Stock mark...
Wed, Jul 7 2010, 10:41 AM
The Future of Rate Sheets; Mortgage Industry News That Isn't Pessimistic; High Opportunity Cost Investing
Wed, Jul 7 2010, 8:28 AM
Equity futures and benchmark interest rates are both moderately lower this morning ahead of a light day with no significant data. Global stocks fell a...
Wed, Jul 7 2010, 5:43 PM
Stocks started the session today trading slightly in the red, which helped keep benchmark bond yields low and allowed lenders to improve mortgage rate...
Wed, Jul 7 2010, 3:06 PM
Is the rise in the refi index a factor of new borrowers entering the refi market or is it a factor of borrowers re-locking at another lender for a low...
Tue, Jul 6 2010, 12:53 PM
Most lenders took down pricing indications when MBS were bid 6-10 ticks lower than current levels. While some desks may reprice for the better, the F...
Tue, Jul 6 2010, 10:55 AM
The Department of Housing and Urban Development has released preliminary data from its 2009 American Housing Survey showing that American homes are bi...
Tue, Jul 6 2010, 9:43 AM
I will say the same thing about this round of MBS sales rhetoric that I said about the Fed's first few attempts to breach the subject: selling MBS hol...
Tue, Jul 6 2010, 9:41 AM
Tax Credit Closing Deadline Extension Signed; Appraisal Chatter; Lender Update, Job Postings
Tue, Jul 6 2010, 8:48 AM
Equity futures are on the rise this morning after stock markets changed tone from last week and rallied globally. The holiday-shortened week ahead is ...
Tue, Jul 6 2010, 4:47 PM
Not much in the way of scheduled data to move the markets this week. Typically, in weeks like this, the bond market and mortgage rates take their dire...
Tue, Jul 6 2010, 1:51 PM
Six years ago Joe Garrett and I co-authored an article called "The Seven Deadly Sins of Mortgage Bankers". The article examined seven key mistakes ma...
Fri, Jul 2 2010, 10:38 AM
Mortgages are trading in light volume with minimal supply on screens. The range trade is obvious. The August delivery Fannie Mae 4.0 MBS coupon is -0-...
Fri, Jul 2 2010, 9:22 AM
National Flood Insurance Program Extended; Originator ID Requirements; Electronic Loan Apps; NAMB Call to Action
Fri, Jul 2 2010, 8:30 AM
Stock futures trade higher initially but are currently back to pre-NFP levels. The 10yr note has rallied 2.6bps lower to 3.929%. The August FNCL 4.0 i...
