MBS Live: MBS Afternoon Market Summary

In stark contrast to yesterday's session, volume and volatility were nowhere to be found today.  MBS and Treasuries entered the domestic session right in line with yesterday's latest levels and held very close to them throughout the session.  It's questionable whether the morning data or afternoon comments from Fed's Bullard had any impact on trading, but the most generous assessment would be to say they helped maintain the ranges that were already intact from yesterday afternoon.  Considering the title of this morning's commentary: Quick Break in The Action; Data Unlikely to Matter, the day essentially went as expected.  If things keep going as expected, then tomorrow is likely to reintroduce volume and volatility to whatever extent the economic data deviates from estimates. 

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

Afternoon Reprice Alerts and Updates

Below is a recap of instant Reprice Alerts and updates issued via email and text alert to MBS Live subscribers this afternoon.

4:01PM  :  CFPB Updates Higher-Priced Thresholds for Small Lenders

Live Chat Featured Comments

A recap of the featured comments from the MBS Live Dashboard's Live Chat feature, utilized by hundreds of industry professionals each day.

Matthew Graham  :  "RTRS- FED'S BULLARD SAYS FED CHAIR SHOULD HOLD A PRESS CONFERENCE AFTER EVERY FOMC MEETING"

Matthew Graham  :  "RTRS- FED'S BULLARD REPEATS VIEW THAT FED NEEDS MORE DATA BEFORE DECIDING TO TAPER BOND PURCHASES "

Matt Hodges  :  "exactly - no easy solutions - they all take work - whether it's realtor, atty, builder, financial planner - any relationship takes time to build. Once you have it, don't screw it up - service that account"

Paul Cronin  :  "I hear you Matt! It is not an easy path but if you do it right, you only have to do it once."

Justin Harward  :  "I've never really prospected realtors. I just service the heck out of my purchases and sometimes the realtor sends their future deals to me. Its worked out pretty well with realtors under 2 years in the business. They tend to work harder then the veteran realtors (they're hungry)."

Paul Cronin  :  "antother thing is if you have a golf membership to a private club, go to the local realtor outings @ public courses and then network @ that event and let it slip that you are a member @ "X" club and you take your consistent realtors there regularly and that usually gets their attention very nicely!!!"

Matt Hodges  :  "i don't prospect Realtors anymore - haven't in years. you have to get your start, then network with those Realtors for their fellow Realtor friends... a warm referral is so much easier than a cold call"

Paul Cronin  :  "absolutely. is it easy- absolutely not. I actually have them come to me as I host them socially @ events and talk one on one to each realtor as everyone is having a good time. It is VERY time consuming to set these up and then service the heck out of them but they love the attention and eventually the persistence pays off."

Justin Harward  :  "That sounds solid Paul, have you had success doing this?"

Ken Crute  :  "Paul, are you able to get in to real estate firms and do office presentations anymore? "

Paul Cronin  :  "Your mgr should be able to do 500 pieces amonth and 4 luches a month. you should- after doing this for 6 months- have a full book of realtors..."

Paul Cronin  :  "Sure Justin! Since you are mainly purchases and are building a book of realtors, put a photo of the branch ("team") on the front and the main benefits of working with you guys in Bullet point format. You could probably get them made for $0.35 a piece. make a couple hundred then when you get a bite from a realtor ask to go in that office. Then go their to talk to the office manager-lead RE broker and offer to buy lunch in exchange for a presentation for that office."

Jeff Statz  :  "http://www.retailmenot.com/view/proschools.com"

Tim Y  :  "lol, will my buddy is doing the proschools right now, said its taken him forever to finish"

Jeff Statz  :  "proschools for sure"

Caroline Roy  :  "anyone have any continuing ed recommendations? the click process of trainingpro.com makes me want to shoot myself"

Ted Rood  :  "It's 3 years as far as I know, haven't seen anything else"

Matt Hodges  :  "it's 80% immediately, then 2% per month, so 3 years 4 months"

Hugh W. Page  :  "I thought the lowered the refund period from 5 yrs to 3 yrs but it's been awhile so I'm not 100% sure of that."

Ted Rood  :  "But they do get a nice thank you card from HUD for the generous MIP contribution, AND the monthly MIP falls off when the loan is paid off."

Victor Burek  :  "only get refund if fha to fha"

Hugh W. Page  :  "No refund allowed in that scenario "

Rob Gruesbeck  :  "When taking a customer from FHA to conventional how does the refund for upfront mip work? Is it refund to customer similar to escrow? Only been on FHA for 5 months."

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