Tue, Jun 15 2010, 8:28 AM
Equity futures are once again indicated higher this morning. The question is whether stocks will maintain momentum throughout the day, or fizzle out j...
Tue, Jun 15 2010, 6:28 PM
Doesn't it feel like the stock market is operating in its own little world again? Doesn't it seem like the bond market is trying to tell us it has no ...
Tue, Jun 15 2010, 5:41 PM
Floating your loan is getting more risky as stocks have broken an important level of resistance and investor optimism is improving. If stocks do exten...
Tue, Jun 15 2010, 3:30 PM
HUD today released MORTGAGEE LETTER 2010-20. This Mortgagee Letter provides an overview of key provisions of HUD’s recently issued final rule referenc...
Mon, Jun 14 2010, 9:03 AM
With trader sentiments still reflective of a non-committal bias, headline news remains a primary motivational factor of tactical stances (short term s...
Mon, Jun 14 2010, 8:58 AM
Originator Identification Requirements; Mortgage Fraud Report; Flood Insurance Saga; Condo Guidance; FHA Annual Premiums
Mon, Jun 14 2010, 8:26 AM
Housing Starts ― or new construction of single-family homes ― are anticipated to fall in May after building permits contracted 11.5%. In April, the an...
Mon, Jun 14 2010, 4:50 PM
Although the short term behavior of both stock and bond markets has been indicative of a looming long-term trend reversal, neither market was able to ...
Mon, Jun 14 2010, 3:21 PM
While mortgage rates either held steady or improved in four of the last five sessions, they still ended last week higher than where they began it. The...
Mon, Jun 14 2010, 2:07 PM
There are four housing indexes that the country looks to for information on the state of the market. According to a report from Standard & Poors (S&P...
Fri, Jun 11 2010, 12:35 PM
Normally we'd expect lenders to pass along better loan pricing when production MBS coupon prices rally up 8 ticks (+0-08 or 8/32). Not 8/32 from the o...
Fri, Jun 11 2010, 11:33 AM
In a joint statement last week, Veterans Administration (VA) Secretary Eric K. Shinseki and Housing and Urban Development (HUD) Secretary Shaun Donova...
Fri, Jun 11 2010, 8:43 AM
Stocks are lower and bonds are better after the U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for M...
Fri, Jun 11 2010, 8:24 AM
Ahead of what should be a busy day in the markets, equity futures are looking to build upon the broad-based surge on Thursday. Ninety minutes before t...
Fri, Jun 11 2010, 5:57 PM
The market is still acting non-committal, the biggest difference is open interest is way lower in both stock futures and 10yr TSY futures. One of thes...
Fri, Jun 11 2010, 5:53 PM
While it will cost a borrower almost 50 basis more at the closing table (0.50% of the loan amount), 4.50% is still available for most WELL-QUALIFIED b...
Thu, Jun 10 2010, 12:39 PM
The good news is it seems like the worst is behind us in terms of new defaults. Plus the modest decline in newly scheduled auctions helps out housing ...
Thu, Jun 10 2010, 9:36 AM
MBS prices are backing away from all time highs as stocks rally. The FN 4.0 is -0-11 at 99-31. The FN 4.5 is -0-07 at 102-26. The GN 4.0 is -0-11 at ...
Thu, Jun 10 2010, 8:30 AM
Stocks are likely to open sharply higher this morning as a strong global session, China excluded, leads the way into positive territory. Ninety minute...
Thu, Jun 10 2010, 6:22 PM
The House of Representatives has just approved by a 406-4 vote the Federal Housing Administration Reform Act, a law designed to shore up the finances ...
Thu, Jun 10 2010, 5:18 PM
Stocks rallied all day long before closing at the highs of the session. This resulted in another investor exodus from risk averse assets which sent be...
Thu, Jun 10 2010, 3:49 PM
Have you ever wondered why longer term locks are more expensive than short term locks?
Thu, Jun 10 2010, 3:42 PM
I noticed a short article this week in the Wall Street Journal that reported on the $108 million settlement between Countrywide Financial and the Fede...
Thu, Jun 10 2010, 3:19 PM
More On Mortgage Insurance; Non-Agency Lending Thaw; FHA Reform Act Amendments; EPO Policies; Credit Rating Agencies
Thu, Jun 10 2010, 1:00 PM
Indirect buyers are responsible for me being able to say this auction went well. They were the aggressive bidders. After the auction Benchmark TSYs yi...
Wed, Jun 9 2010, 11:39 AM
Purchase and refinance applications dropped this week, even after an adjustment for the Memorial Day holiday. Purchase applications are now 35 percen...
Wed, Jun 9 2010, 11:29 AM
FDIC Chairperson Sheila Barr told a group of non-profit housing developers Monday that the government needs to temper its focus on home ownership to a...
Wed, Jun 9 2010, 11:12 AM
Private Mortgage Insurers Make Push for FHA Business; GSEs Roll Out Uniform Data Program Details; Bulletins From BoA and Wells
Wed, Jun 9 2010, 8:58 AM
We had what I hope was an enlightening conversation yesterday afternoon about the status of loan pipelines and the recent improvement in loan pricing....
Wed, Jun 9 2010, 8:16 AM
Global markets were mixed overnight but domestic stock futures are higher as investors wait for the latest economic assessment from Federal Reserve ch...
Wed, Jun 9 2010, 5:14 PM
FN4.5: +0-06 at 103-02. GN4.5: +0-06 at 103-22. Secondary Market Current Coupon: -1.4bps to 3.98%. CC Yield Spreads:+80.2/10yTSY. +70.5/10yIRS. Went O...
Wed, Jun 9 2010, 4:58 PM
Mortgage rates moved slightly higher this morning as stocks rallied and MBS prices ticked lower. About the time the 10-year note auction results were ...
Wed, Jun 9 2010, 3:47 PM
The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF...
Wed, Jun 9 2010, 1:18 PM
Auction demand was strong but only at higher yields and lower prices. Primary dealers took down more inventory than usual to offset a decline in direc...
Tue, Jun 8 2010, 12:06 PM
Fitch Ratings Performance Metrics for May show continued declines in delinquency rates for both subprime and Alt-A RMBS, but a slight increase in the ...
Tue, Jun 8 2010, 11:32 AM
Checking In On Mortgage Reform Legislation; Mark-To-Market Loan Hedging Concerns; FTC & Countrywide; Subprime Loans The Talk Of The Town?
Tue, Jun 8 2010, 8:50 AM
Markets are range bound at the moment but teetering on a broader technical breakdown. It's still all about the stock lever and the Euro. If the Euro f...
Tue, Jun 8 2010, 8:26 AM
No U.S. data will hit the markets this morning. Some of the positive sentiment stems from comments from Federal Reserve chairman Ben Bernanke, who las...
Tue, Jun 8 2010, 5:08 PM
The par 30 year conventional rate mortgage remains in the 4.50% to 4.75% range for well qualified consumers. Although it it's very tempting to float y...
Tue, Jun 8 2010, 2:09 PM
Depending on fallout, your secondary marketing department is probably underwater on their loan pricing after the recent run-up in MBS prices. You tell...
Mon, Jun 7 2010, 12:13 PM
GNMA Single Loan Securitization; GFE Guidance; Long Recovery For Housing; FDIC & CRA News; More Originator Jobs
Mon, Jun 7 2010, 8:40 AM
When do U.S. stocks and bonds disconnect from the directional movements of the Euro? When does the opportunity cost of risk averse investing outweigh ...
Mon, Jun 7 2010, 8:34 AM
Markets are Friday sold off on a weak employment report. Prices worsened throughout the day on fears that Hungary ― which announced a larger-than-expe...
Mon, Jun 7 2010, 6:18 PM
Although S&Ps still haven't broken 1050 support, it's hard not to sit back and watch how far this interest rate rally goes. The million dollar MBS que...
Mon, Jun 7 2010, 5:34 PM
It was a quiet trading session for most of the day in financial markets. Stocks rallied early in the day and lenders offered slightly worse mortgage r...
Mon, Jun 7 2010, 3:21 PM
The perfect mortgage company allows a loan officer to focus 100% of their attention on their job: WRITING LOANS! There are a handful of regional and...
Fri, Jun 4 2010, 12:04 PM
The S&P has broken 1080 support and benchmark 10s are testing 3.20 resistance. This has helped MBS prices extend their rally.
Fri, Jun 4 2010, 10:49 AM
Most Profitable Bank Owned Origination Channels; FHA Net Worth Requirements; Manufactured Home Lending; HomePath News; More On Flood Insurance
Fri, Jun 4 2010, 8:30 AM
MAY NONFARM PAYROLLS +431,000 (CONSENSUS +513,000) VS APRIL UNREVISED AT +290,000
MAY PRIVATE SECTOR JOBS +41,000, GOVT 390,000, CENSUS JOBS +411,000...
Fri, Jun 4 2010, 8:10 AM
Investors are timid ahead of the U.S. employment report for May. The numbers are supposed to be broadly positive, but an hour before the report, equit...
