MBS Live: MBS RECAP
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Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
2:09PM :
ALERT:
MBS Stable Into Afternoon. Positive Reprice Potential Increasing
As we said earlier in the day, lenders are normally more conservative with positive reprices around the MBS Settlement cycle, not to mention the same is also true for Friday afternoons. So all we can really say is that the shape of MBS trading today is similar to past examples that have resulted in positive reprices. Fannie 3.5's haven't made any tremendous gains, but they've been in a fairly narrow range between 103-15 and 103-17 cine around 11am.
This is better than the 103-13 to 103-14 range that was prevalent when most lenders were releasing rate sheets, but more important than the range was the fact that the direction of bond market trading still looked a bit uncertain this morning, whereas now we look to be out of the woods, so to speak, with respect to seeing losses on the day.
Bottom line, it's possible we see a reprice or two, but not necessarily likely given the environment. So the better take-away may be that we're not looking like we're at much risk of negative reprices for those inclined to float until cut-off or beyond.
This is better than the 103-13 to 103-14 range that was prevalent when most lenders were releasing rate sheets, but more important than the range was the fact that the direction of bond market trading still looked a bit uncertain this morning, whereas now we look to be out of the woods, so to speak, with respect to seeing losses on the day.
Bottom line, it's possible we see a reprice or two, but not necessarily likely given the environment. So the better take-away may be that we're not looking like we're at much risk of negative reprices for those inclined to float until cut-off or beyond.
12:37PM :
Fed: Bernanke Speech on 'Housing Markets in Transition'
Chairman Ben S. Bernanke's speech at the 2012 National Association of Homebuilders International Builders' Show, Orlando, Florida...
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Matt Hodges : "same rule"
Scott Valins : "are fannie/freddie 7 years for foreclosures?"
Victor Burek : "i think the problem many had with tarp and also the problem the greek citizens have is yes...without tarp adn the austerity, things would get worse..but would get to a healthier economy sooner"
Brent Borcherding : "You're in or you're out."
Matthew Graham : "Because why would we want to head out for the weekend without a fresh dose of Greek Drama?"
Matt Hodges : "i like it"
Matt Hodges : "nuclear option"
Matthew Graham : "RTRS - RPT-GREEK PM SAYS WE MUST DO WHATEVER IT TAKES TO APPROVE BAILOUT DEAL OR FACE CATASTROPHE "
Matthew Graham : "RTRS - RPT - GREEK PM SAYS WHOEVER DISAGREES WITH BAILOUT DEAL CANNOT STAY IN THE GOVERNMENT "
Matthew Graham : "RTRS - OBAMA BUDGET TO SAY THAT FISCAL DEFICIT FOR 2013 WOULD EQUAL 5.5 PERCENT OF GDP - U.S. OFFICIAL "
Matthew Graham : "RTRS- OBAMA BUDGET TO PROJECT DEFICIT OF $1.33 TRILLION IN FISCAL YEAR 2012, $901 BILLION IN FISCAL 2013-U.S. OFFICIAL "
Brent Borcherding : "If the property is DU Refi Plus eligible...the borrower can have 100 properties, doesn't matter. Obviously, some lenders have overlays, but I've done this numerous times."
Adam Dahill : "question: borrower has 10 financied properties. I was going to CITI but they have a 714 fico and Citi requires 720 when you have 5-10 properties. Some of the homes are refi plus elligible. Does that make any difference? Any other lenders other than Flagstar that do 5-10 properties?"
Matt Hodges : "my u/w recently told me there is a one month extension that they can do, but only before it expires"
tom duff : "anyone help with this? I have an FHA deal aprsl has an effective date of 09/07/2011 the apprasier uploaded the report 10/07/2011, underwriting then asked for updated comps which the apprasier provided and uploaded 12/16/2011. UW is now telling me we need a new aprsl bc the effective date expired. Is there anyway around getting a new aprsl? thx in advance for any help..."
Matt Hodges : "monthly is based on loan amount"
Victor Burek : "yes..higher loan amount, higher mip monthly"
Gaius Rossini : "hey quick FHA question if you guys can help me out - if closing costs are rolled into a loan, the monthly MIP increases as well right?"
Matthew Graham : "http://www.federalreserve.gov/newsevents/speech/bernanke20110210a.htm"
MBS Market Alerts
