Fri, Jun 4 2010, 5:57 PM
If the Euro is doomed to trade toward parity, does that mean the U.S. is destined for a double dip? With housing teetering on a ledge and 6.7 million...
Fri, Jun 4 2010, 5:37 PM
Mortgage rates held steady near the lowest levels of the year yesterday. That was a dominant theme this week. Regardless of volatility in the stock an...
Fri, Jun 4 2010, 1:09 PM
FHA Commissioner David Stevens has restated some of the recent changes the agency has made to condominium approvals, net worth requirements for FHA le...
Thu, Jun 3 2010, 11:42 AM
Warehouse Line Issues Still Prevalent; Another Lender Exits Wholesale Business; BoA Suspends USDA Commitments & Updates Flood Insurance Guidance
Thu, Jun 3 2010, 8:48 AM
Traders have closed longs and covered shorts and are now ready to react to whatever news and information is offered in the next 24 hours. The big ques...
Thu, Jun 3 2010, 8:08 AM
Stock futures this morning look to continue the broad rally which pushed the Dow up by 225 points yesterday.
More than two hours before the openin...
Thu, Jun 3 2010, 4:41 PM
I know many of you are probably sitting on a few loans trying to decide if you should float into the 15 day window in hopes of another rally and bette...
Thu, Jun 3 2010, 1:28 PM
Auction sizes continue to trend lower. Less debt supply is always a great thing for the market's state of mind. However we may be battling greater for...
Thu, Jun 3 2010, 1:15 PM
A month ago I visited a client in Las Vegas, the epicenter of the mortgage and real estate malaise. During my interviews, the owner of the operation i...
Wed, Jun 2 2010, 10:30 AM
April data is fine and dandy but it was expected that housing demand would improve as homebuyers rushed to take advantage of the tax credit before it ...
Wed, Jun 2 2010, 8:34 AM
While there were a few news headlines to account for in valuations today, price action and trading flows really didn't teach us anything new about the...
Wed, Jun 2 2010, 8:19 AM
Ninety minutes before the opening bell, Dow futures are up 47 points to 10,066 and S&P 500 futures are up 5.25 points to 1,074.75. The 2-year Treasury...
Wed, Jun 2 2010, 7:39 PM
Stocks closed near three day highs and benchmark TSY yields went out...near three day highs too! We did manage to make it through the day without repr...
Wed, Jun 2 2010, 5:42 PM
Like yesterday, I continue to favor locking as mortgage rates are holding steady near historically low levels. If you wish to float in hopes of rates...
Wed, Jun 2 2010, 3:14 PM
With another week of historically low mortgage rates, the trend from the prior three weeks continued, as refinance applications increased while purcha...
Wed, Jun 2 2010, 3:06 PM
A Federal Reserve economist told an audience recently that housing finance reform, driven by the necessity of resolving the Freddie/Fannie situation, ...
Wed, Jun 2 2010, 1:44 PM
The on again, off again, on again appetite for risk has led the benchmark 10 yr TSY note yield 4.8bps higher all the way up to the 3.31% pivot. Conseq...
Wed, Jun 2 2010, 1:13 PM
The Federal Reserve, The Federal Deposit Insurance Corporation, The Office of Thrift Supervision, and The Office of Comptroller of the Currency have r...
Wed, Jun 2 2010, 1:01 PM
Flood Insurance Update; USDA Conditional Commitments; Originator Jobs; News From Fannie & Freddie, Citi, SunTrust, Guild, Mountain West, USB
Tue, Jun 1 2010, 11:23 AM
Total construction spending rose for the second straight month in April and recorded the best monthly improvement seen since August 2000, according to...
Tue, Jun 1 2010, 11:00 AM
The "Never-Ending" Mortgage Program From ING; Are Home Loans Now Worthless?; Bank Closures; Barclays To Sell Servicing Unit
Tue, Jun 1 2010, 8:23 AM
The WEEK AHEAD is busy with the release of NonFarm Payrolls on Friday (The Official Employment Report) headlining the schedule. Over the last month, d...
Tue, Jun 1 2010, 8:10 AM
The Week Ahead: ISM Manufacturing Index, Construction Spending, Pending Home Sales Index, ADP Employment Report, Initial Jobless Claims, Productivity ...
Tue, Jun 1 2010, 6:01 PM
Thanks to a lack of liquidity in the 4.0 TBA MBS market, securitizing 4.5 and 5.0 MBS is a lender's best execution option (how do you hedge 4.0s right...
Tue, Jun 1 2010, 5:14 PM
Data provided in a report by Lender Processing Services shows that delinquency rates overall are improving but those loans termed seriously delinquent...
Tue, Jun 1 2010, 4:56 PM
It was a very volatile day in financial markets. Stocks moved lower then higher then lower again. This led benchmark Treasuries on a roller coaster ri...
Tue, Jun 1 2010, 3:37 PM
The MBA recently published a comprehensive study on the risk management practices of the mortgage industry that ultimately led to themeltdown. The s...
Tue, Jun 1 2010, 1:54 PM
It's been a choppy, back and forth, up and down trading session with no clear bias in motion. Rate sheet influential MBS have performed admirably as T...
Fri, May 28 2010, 10:46 AM
USDA Issuing Conditional Loan Approvals Again; MBA Studies Housing and Mortgage Market Collapse; Jumbo Loan Pricing; Scratch and Dent Desk
Fri, May 28 2010, 9:42 AM
It is still unclear whether the stock market rally we witnessed yesterday was simply a short term correction in the context of a broader downtrend or ...
Fri, May 28 2010, 2:46 PM
"For these men are lately drawn from the ways of peace. They fight not for the lust of conquest. They fight to end conquest. They fight to liberate. T...
Thu, May 27 2010, 12:54 PM
HUD Secretary Shaun Donovan presented the details of a new rental assistance program to members of Congress on Tuesday. The program is part of the Pr...
Thu, May 27 2010, 12:28 PM
New Bond Rating Agency With a Twist; Jumbo Loan Buyers; Banks Selling Distressed Debt; Financial Reform Update;
Thu, May 27 2010, 11:11 AM
Mortgages are experiencing some localized weakness thanks to a modest pick up in originator selling (5.0s) and servicer duration dumping. The FNCL 4....
Thu, May 27 2010, 8:21 AM
FNCL 45 -11 at 101-31. Current Coupon:+7.5bps at 4.132%. MBS Yield Spreads Tighter In Busy Flows. 10s: +11.5bps at 3.307%. 2s/10s: +8 at 245bps. S&Ps:...
Thu, May 27 2010, 8:10 AM
Equity markets dropped at the final hour yesterday when news reports indicated that China was reluctant to buy European debt. This morning the reverse...
Thu, May 27 2010, 4:47 PM
The violent spike in rates we witnessed today will force market participants to re-evaluate their strategic and tactical biases as bullish interest ra...
Thu, May 27 2010, 4:42 PM
Even though economic data was WORSE THAN EXPECTED this morning, which usually benefits the fixed income sector and mortgages, interest rates continue...
Thu, May 27 2010, 3:56 PM
As with a conventional mortgage, there are costs associated with a reverse mortgage. While perceived as high, once understood you’ll see the reverse ...
Thu, May 27 2010, 3:27 PM
The Federal Home Finance Agency is opening a 45 day public comment period on new rules to establish a framework for setting Federal Home Bank Loan hou...
Thu, May 27 2010, 1:09 PM
Average auction. Demand was there but at higher yields. We're lucky stocks weren't selling today because this issuance would have gone worse if yields...
Wed, May 26 2010, 11:55 AM
Bank foreclosure activity is putting more distressed inventory on the market and making it harder for appraisers to justify their choice of comps. It'...
Wed, May 26 2010, 11:50 AM
Perspective on Fannie & Freddie's UMDP; Flood Insurance Expiration; Fed's Credit Card Website; More Lender Updates!
Wed, May 26 2010, 10:15 AM
U.S. equities rallied into the close yesterday. This momentum extended into the overnight session all the way into this morning. A WAY BETTER THAN EXP...
Wed, May 26 2010, 8:29 AM
With the OECD upgrading its global outlook for 2010 and 2011 growth, investor confidence is back on track this morning. Equities are trading much high...
Wed, May 26 2010, 5:45 PM
Rate sheet influential MBS valuations had another volatile day thanks to some violent swings in the stock market. We did however make it through norma...
Wed, May 26 2010, 5:32 PM
The stock market rally that began yesterday afternoon extended into overseas trading last night and into this morning's trading session. Optimism in e...
Wed, May 26 2010, 2:33 PM
FHFA Director Ed DeMarco said that the study found that Fannie Mae and Freddie Mac remain "critical supervisory concerns." While the two government s...
Wed, May 26 2010, 2:05 PM
Our fate rests mostly in the stock lever. If the S&P breaks 1090 and 10s push through 3.25% support...reprices for the worse are likely. Some smaller ...
Tue, May 25 2010, 10:44 AM
I recently attended a Board of Directors meeting of a mid-size commercial bank that owns a mortgage banking operation. I was invited to make a presen...
