Wed, Mar 31 2010, 1:38 PM
Mortgage market participants must now face the reality of a life without the supportive, flow balancing, volatility calming bid of the Federal Reserve...
Tue, Mar 30 2010, 11:46 AM
If you are considering raising capital today, take some time to understand the difference between Common and Preferred Stock. If you are looking to m...
Tue, Mar 30 2010, 10:36 AM
With Consumer Confidence out, the bleeding in bonds seems to have stopped for the moment. A bit of a paradox at first glance since the data beat expe...
Tue, Mar 30 2010, 9:58 AM
Lender Bulletins: Quality Control, Suspended Programs, HPML's, No MI for I/O, Useable FICO Scores, FHA Flipping, Allowable Fees, Appraisal Required fo...
Tue, Mar 30 2010, 9:33 AM
Using your microscope, you might be able to see the hint of a top forming on the treasury yield chart. hopefully, that materializes, which would help...
Tue, Mar 30 2010, 8:26 AM
After volatile trading that ended positive yesterday, markets are looking for further gains this morning ahead of key housing data. 90 minutes before ...
Tue, Mar 30 2010, 6:36 PM
Major lock decisions deal more with Friday than anything. From there, anything you know you're going to lock before NFP, the closer MBS are to 100-16...
Tue, Mar 30 2010, 6:27 PM
I favor locking over floating at this point. There are just too many unknowns to deal with in the near term. The Fed stops buying MBS tomorrow, more ...
Tue, Mar 30 2010, 4:44 PM
David M.Blitzer, Chairman of the Index Committee at Standard & Poor’s, communicated the findings of the report quite well. “The report is mixed. While...
Tue, Mar 30 2010, 3:03 PM
Mon, Mar 29 2010, 12:28 PM
Plain and Simple: the long end of the yield curve is the biggest loser today. This is most likely a function of low trading volume and a thinly att...
Mon, Mar 29 2010, 11:20 AM
Reports from fellow mortgage professionals indicate lender rate sheets to be improved from Friday. If you can lock at 4.75%, there is no question, yo...
Mon, Mar 29 2010, 10:48 AM
Flood Insurance Program Not Extended; FHA MIP Reminder; Wells Fargo Jumbo Rollout; PIMCO Hiring; Bank Failures
Mon, Mar 29 2010, 10:07 AM
10s must break 3.85% and re-enter the 3.57 to 3.85% range for us to see further positive rebound rally progress. Still watching and waiting...
Mon, Mar 29 2010, 8:21 AM
90 minutes before the opening bell sounds to begin a holiday-shortened week, equity futures are sharply upwards. The Dow looks to open 52 points highe...
Mon, Mar 29 2010, 6:49 PM
Mon, Mar 29 2010, 3:58 PM
Today, adding to the first Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (the "HFA Hardest Hit Fund"), the Obama Administ...
Mon, Mar 29 2010, 3:54 PM
The OCC/OTS metrics report for the last quarter of 2009 confirms the continued increase in delinquent loans but notes that servicers have expanded ret...
Mon, Mar 29 2010, 3:37 PM
We're hearing quite a few questions about census jobs distorting Friday's NFP number. Here's the thing though... If we already know that temporary c...
Mon, Mar 29 2010, 3:20 PM
Most people have preconceived notions about reverse mortgage. Why are so many folks afraid to hear the facts from an expert?
Mon, Mar 29 2010, 2:20 PM
We hate to sound like a nag, but what are you doing to track your leakage? If you’re building in a profit of, say, 150 bps on FHA loans, are you real...
Fri, Mar 26 2010, 12:50 PM
Today, as part of its ongoing commitment to continuously improve housing relief efforts, the Obama Administration announced adjustments to the Home Af...
Fri, Mar 26 2010, 12:40 PM
I have nothing but good news for mortgages. "Rate sheet influential" MBS prices are higher, current coupon yield spreads are tighter, and REPRICES FOR...
Fri, Mar 26 2010, 11:10 AM
"The near- to mid-term outlook for the broader housing sector continues to be negative, with the main driver the ongoing economic pressure on homeowne...
Fri, Mar 26 2010, 11:03 AM
HUD announced today that Recovery Act funds have allowed state and local housing agencies to improve or renovate 150,000 low-income housing units whil...
Fri, Mar 26 2010, 11:00 AM
We recently reviewed a FOCIS-plus study with board members and management of a small mortgage bank. What was interesting about this company was its s...
Fri, Mar 26 2010, 10:54 AM
RESPA & Changes to Fees Based on Updated Loan Amount; Cali Homebuyer Tax Credit; New Principal Reduction Program; Mortgage Jobs
Fri, Mar 26 2010, 9:56 AM
It was encouraging to see overnight bargain buying again, especially after three terrible turnouts from indirect bidders at this week's round of Treas...
Fri, Mar 26 2010, 8:09 AM
Equity futures are pointing upwards after it was announced that European Union leaders came up with a rescue package for Greece.
According to the ...
Fri, Mar 26 2010, 4:32 PM
Bonds are still more likely to move over 3.85 in the longer term, but there is enough room for the possibility that we could catch a break in the shor...
Fri, Mar 26 2010, 4:20 PM
If you can lock in today at 4.875% with acceptable fees, you should strongly consider locking. If your lender is offering 5.00% or higher, I feel it ...
Fri, Mar 26 2010, 2:19 PM
Strength in treasuries and consequently MBS today has led to widespread reprices for the better. But if we get a 3pm mark around 3.85, it could lead ...
Thu, Mar 25 2010, 12:31 PM
he bond market is losing steam ahead of the 1pm bid cut off for $32 billion 7 year notes. The 10 year Treasury note is trading at 3.89%. This pushed t...
Thu, Mar 25 2010, 12:26 PM
Ben Bernanke is sitting before the House Financial Services Committee, sharing his "official" thoughts on the Fed's exit strategy. Most of his testimo...
Thu, Mar 25 2010, 11:23 AM
Loan Modification Buybacks; ACORN Closing State Chapters; Bank of America's FHA Flipping Policy & Principal Reduction Plan;
Thu, Mar 25 2010, 10:19 AM
Yesterday was brutal. The long end of the rates market got caught with its pants down. Short swap positions in the long end of the curve capitulated,...
Thu, Mar 25 2010, 8:09 AM
Equity and commodity prices are looking upwards this morning ahead of weekly labor data. 90 minutes before the opening bell, Dow futures are trading 3...
Thu, Mar 25 2010, 7:09 PM
If we forget that MBS lost about a point yesterday and that treasuries rose more than 10bps in yield, today is mild by comparison. MBS were unchanged...
Thu, Mar 25 2010, 7:04 PM
Yesterday was either the beginning of rates moving higher or just a temporary correction. If your lender is still offering the same rate they were off...
Thu, Mar 25 2010, 4:59 PM
For the second to last time, the Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). Obviously everyo...
Thu, Mar 25 2010, 2:50 PM
"We have come up with some interesting ideas ... to enable some additional people to participate in this program, who may be unemployed or who need pr...
Thu, Mar 25 2010, 2:47 PM
It's been one heck of a roller coaster watching the various levels of 10yr yields on a tick by tick view. Things looked quite bad for a time when the...
Thu, Mar 25 2010, 1:23 PM
The auction did not go well. Not a huge surprise given the events that unfolded yesterday. Rates are higher after the auction. Between then and now, n...
Wed, Mar 24 2010, 12:39 PM
Ahead of the 5 year note auction...the 2 year and 5 year TSY note yield are both trading at two month highs.The 10 year TSY note is at a one month yie...
Wed, Mar 24 2010, 12:01 PM
We look at the most recent results of the difference between best efforts and mandatory delivery. There are four key areas a mortgage banker must dev...
Wed, Mar 24 2010, 11:12 AM
Reuters polled primary dealers on their outlook for interest rates over the next three, six, and twelve months. 6 of 30 dealers think the 10 year note...
Wed, Mar 24 2010, 10:56 AM
Bank of America has announced a new program that will assist delinquent borrowers by reducing principal balances in a two step process. Eligible borr...
Wed, Mar 24 2010, 10:53 AM
The Federal Housing Finance Agency reports that home prices dropped 0.6 percent in January from December figures. Those December figures were also re...
Wed, Mar 24 2010, 10:50 AM
After two days of a boring, low volume driven sideways tight range trading, rates volume has skyrocketed into this sell off with the majority of sell ...
Wed, Mar 24 2010, 9:53 AM
New FHA Compliance Manager; Long Road of Housing Reform Ahead; Short Sale Primer; PMI Freddie Mac Approved; FHA Delinquencies, Broker Pricing Opinions...
