Thu, Jan 28 2010, 5:51 PM
The program has enrolled over 850,000 homeowners who are seriously delinquent in their mortgage payments in a trial modification period but has encoun...
Thu, Jan 28 2010, 5:20 PM
Thu, Jan 28 2010, 5:09 PM
In the week ending January 27, 2010, the Federal Reserve purchased a total of $12.50 billion agency MBS. In those five days the Federal Reserve sold $...
Thu, Jan 28 2010, 4:31 PM
I have been advising LOCK all week. If you locked, way to go! Good timing. If you did not lock, we have some deep thinking to do. I think the easiest...
Thu, Jan 28 2010, 3:47 PM
Thu, Jan 28 2010, 2:25 PM
We are seeing more and more CEOs looking for accurate and concise information about their companies to help detect positive and negative trends. Rath...
Thu, Jan 28 2010, 1:03 PM
The Treasury has successfully auctioned $32 billion 7-year notes. Auction demand was strong, but the rates market has failed to make positive progress...
Wed, Jan 27 2010, 11:33 AM
Wed, Jan 27 2010, 10:50 AM
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000. This is 7.6% below the revised for the better No...
Wed, Jan 27 2010, 10:46 AM
HUD and FDIC Hiring; NMLS Background Checks; SAFE Act training; FHA Watching DE Lenders
Wed, Jan 27 2010, 9:23 AM
The day ahead promises to be busy. At 10am we get New Home Sales, then at 1pm the Treasury will release auction results on a $42 billion 5year note of...
Wed, Jan 27 2010, 8:08 AM
MBA's VP of Research and Economics, summed up the environment PERFECTLY: "Although rates remain low, there appears to be a smaller pool of borrowers w...
Wed, Jan 27 2010, 7:59 AM
News from Asia has pushed the global stock market down after Toyota said it would stop production and sales on eight of its recalled vehicles.
Japa...
Wed, Jan 27 2010, 5:33 PM
MORTGAGE RATES MOVED HIGHER AFTER THE FOMC RELEASE. Reports from fellow mortgage professionals now indicate lender rate sheets to be worse than yester...
Wed, Jan 27 2010, 5:19 PM
Wed, Jan 27 2010, 4:00 PM
Mortgages are heading into the close near their worst price levels of the day. The FN 4.0 is -0-08 at 97-21 yielding 4.224% and the FN 4.5 is -0-06 a...
Wed, Jan 27 2010, 2:20 PM
REPRICES FOR THE WORSE ARE LIKELY....REPRICES FOR THE WORSE ARE LIKELY....REPRICES FOR THE WORSE ARE LIKELY
Wed, Jan 27 2010, 2:14 PM
Eliminating Fannie Mae and Freddie Mac; Overaggressive Bank Examiners; Rewriting California's Constitution
Wed, Jan 27 2010, 1:05 PM
As of right this very moment, there has been no negative response to the recently released auction results. This places the brunt of the potential vo...
Tue, Jan 26 2010, 12:54 PM
Reports from fellow mortgage professionals indicate lenders have passed along better rates this morning. The par 30 year conventional rate mortgage h...
Tue, Jan 26 2010, 11:38 AM
he Treasury will announce auction results on $44 billion 2s at 1pm. I am not going to dive deep into analysis on this one, I think the outlook is fair...
Tue, Jan 26 2010, 11:19 AM
Our last post discussed the options mortgage banking operators face with increasing capital requirements. Options three and four looked at partnering...
Tue, Jan 26 2010, 11:06 AM
Lenders Using the GFE as Marketing Tool; Lenders Cut by FHA; Condo Approvals; Guidance on Borrowers Facing Imminent Default;
Tue, Jan 26 2010, 10:54 AM
On January 20, the Federal Housing Administration (FHA) announced that its plan to shore up the agency's capital reserves included stepped up enforcem...
Tue, Jan 26 2010, 8:31 AM
If you are still floating your pipeline I recommend you keep a close watch on the marketplace over the next few days. We see the recent "relief rally"...
Tue, Jan 26 2010, 8:29 AM
In the US, equity futures are mixed. Dow Futures are up 4 points to 10,142 and S&P 500 Futures are 1.40 points lower to 1,091.. Meanwhile, WTI Crude o...
Tue, Jan 26 2010, 5:01 PM
Earlier in the afternoon, we mentioned the sudden onset of selling in the stock market in conjunction with the high level of connection in the stock l...
Tue, Jan 26 2010, 4:11 PM
Standard and Poor's released the Case-Shiller Home Price Index this morning. On a month over month basis, home prices in 20 US cities fell 0.2% in Nov...
Tue, Jan 26 2010, 3:30 PM
Tue, Jan 26 2010, 1:32 PM
Following the average auction (average at best), interest rates moved higher. However shortly thereafter status quo was restored as short covering slo...
Mon, Jan 25 2010, 12:00 PM
Mon, Jan 25 2010, 11:13 AM
After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sale...
Mon, Jan 25 2010, 10:59 AM
Garrett Watts Report Newsletter: January 25, 2010: Sloppy Loan Origination; Warehouse Lending Update; TBW Timing; Failed TARP Repayment; Economic Free...
Mon, Jan 25 2010, 10:26 AM
What does the FOMC do? More bank closures; DAP update; SunTrust earnings
Mon, Jan 25 2010, 8:32 AM
Phew...lots to consider this week. One thing I forgot to mention is the technical side of the marketplace. "Rate sheet influential" TSYs have been per...
Mon, Jan 25 2010, 8:22 AM
The Week Ahead: FOMC Meeting, Housing Prices & Sales, Q4 GDP, $118bn in Treasury Supply
Mon, Jan 25 2010, 4:59 PM
Mon, Jan 25 2010, 3:52 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be worse than Friday. The par 30 year conventional rate mortgage has risen...
Mon, Jan 25 2010, 2:23 PM
As expected markets are thinly traded ahead of the looming FOMC meeting. The 3.375% coupon bearing 10 year Treasury note has bounced back and forth ar...
Fri, Jan 22 2010, 12:50 PM
The foreclosure timeline can take anywhere from 6 months to 1 year depending on the bank and the county. A few steps must take place throughout the f...
Fri, Jan 22 2010, 11:04 AM
Since the econ calendar is empty and politics seem to be driving price action, we might as well discuss Ben Bernanke's pending re-nomination confirmat...
Fri, Jan 22 2010, 11:03 AM
The changes in net worth requirements of FNMA and the 3-year staged increase in net worth of HUD are creating a dilemma for many small mortgage banker...
Fri, Jan 22 2010, 10:50 AM
GFE Feedback: Effect on the IRS, Cash to Close, Lack of Borrower Signature; What it Costs to Keep an AE/LO
Fri, Jan 22 2010, 8:18 AM
90 minutes before the opening bell, Dow Futures are off 27.00 points to 10,311, S&P 500 futures are down 2.00 points to 1,109.00. Commodities are also...
Fri, Jan 22 2010, 8:15 AM
While yesterday's flight to safety was supportive of an extension to the rates "relief rally", the underlying motivation behind boosted bond market op...
Fri, Jan 22 2010, 5:06 PM
Fri, Jan 22 2010, 3:44 PM
With lenders still offering the best rates we've seen in over a month and further progress unknown in the rates market, I still think most should be l...
Fri, Jan 22 2010, 2:46 PM
GNMA paper is already explicitly guaranteed, expect GNMA and the FHA to continue to be a crutch (responsibly). In terms of GSE paper, while I still be...
Fri, Jan 22 2010, 2:41 PM
Heading into the afternoon hours the rates market continues to trade in a choppy manner. While much distance has been traveled on charts, status quo h...
Fri, Jan 22 2010, 1:04 PM
Our analysis shows that there are still a substantial number of mortgages at risk of distress or foreclosure. One particularly troubling area concern...
