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Worst Week for Mortgage Rates since August 2013; Breaking Down the "Weather Effect" in the Jobs Report; Suntrust in Hot Seat; Ditech is Back
Published: 3/7/2014
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 5:22 PM
Some lenders are going to be an eighth higher or lower. Comp plans are just one of the many variables. At the end of the day, this is about honing in on the most prevalently quoted rates. Keep in mind that best-ex refers to perfect scenarios in terms of LLPAs.
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Sung Kim
Originator / LO, McLean Mortgage Corp.
on Fri Mar 7 2014, 3:55 PM
looks like i am only off .25-.375 from yesterday. we dodged a bullet IMO, next week seems light on data, so hope to see us move back in to the belly of the range
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Andy Pada
VP, 1st 2nd Mortgage Co.
on Fri Mar 7 2014, 3:55 PM
is the market looking at NFP having created 175K jobs or 175 + a possible 48K more?????????????
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 3:55 PM
As I'm sure you'd guess, it would greatly depend on the magnitude and composition of the revision.
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Andy Pada
VP, 1st 2nd Mortgage Co.
on Fri Mar 7 2014, 3:55 PM
how much credibility would the NFP lose if BLS revises lower next month given MG's explanation? more importantly, would markets care?
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Robert Rippy
President, Southern Mortgage Unlimited, Inc.
on Fri Mar 7 2014, 3:54 PM
Is there a statute of limitations on CAIVRS? I have a client looking at USDA but had a foreclosure almost 10 years ago on a previous USDA loan.
Joe Daquino
on Fri Mar 7 2014, 2:05 PM
Always learning something new in MND
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Hugh W. Page
Senior Mortgage Consultant, M.B.A., Shelter Mortgage Company, LLC
on Fri Mar 7 2014, 12:00 PM
The co-branding piece is truly superb.
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Gus Floropoulos
Sr. Loan Officer, Quontic Bank
on Fri Mar 7 2014, 11:59 AM
reading ur report suggests perhaps that more jobs may have been created, correct?
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Ted Rood
Senior Mortgage Planner NMLS 543290, Wintrust Mortgage
on Fri Mar 7 2014, 11:59 AM
MG, your "what does it mean" is a masterpiece. Kudos to you!
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AQ
Head of Mortgages and ABS, Thomson Reuters
on Fri Mar 7 2014, 11:58 AM
just wanted to high-five MG for his awesome find. he beat many street economists to the punch
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:54 AM
wow, very nicely deduced Hodges... Yes, it's around 50k, implied
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Sung Kim
Originator / LO, McLean Mortgage Corp.
on Fri Mar 7 2014, 11:54 AM
Validates weather as a reason for Econ weakness and weather is transitory
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Matt Hodges
Charlottesville Sales Manager, Presidential Mortgage Group
on Fri Mar 7 2014, 11:54 AM
MG - the extrapolation is that if so many people worked less than their projected number of hours during the payperiod including 2/12 (Eastern snow storm), then likely fewer jobs were created, but will likely be created in future months?
Joe Daquino
on Fri Mar 7 2014, 11:53 AM
Watching news and they said numbers would have been better if not for the weather...lol.
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:49 AM
BL, what's good--and "good" is relative---is that it breaks a potentially alarming trend of declining payroll growth in the short term
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benjamin levin
Originator / LO,
on Fri Mar 7 2014, 11:49 AM
i still dont see what is s good about this???
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Dave Pressel
Vice President, Peoples Bank
on Fri Mar 7 2014, 11:48 AM
i think the MBS loss gets cut at least in half once digested
Steven Stone
on Fri Mar 7 2014, 11:48 AM
the problem was we had a lot of peeps that thought it was going to be weak
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benjamin levin
Originator / LO,
on Fri Mar 7 2014, 11:48 AM
what is so good about these numbers???
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:47 AM
RTRS- US FEB PRIVATE SECTOR JOBS +162,000 (CONS +154,000), JAN +145,000 (PREV +142,000)
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:47 AM
RTRS- U.S. LABOR FORCE PARTICIPATION RATE 63.0 PCT IN FEB VS 63.0 PCT IN JAN
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:47 AM
RTRS- U.S. FEB JOBLESS RATE 6.7 PCT (CONSENSUS 6.6 PCT) VS JAN 6.6 PCT (PREV 6.6 PCT)
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Mar 7 2014, 11:47 AM
RTRS - U.S. FEB NONFARM PAYROLLS +175,000 (CONSENSUS +149,000) VS JAN +129,000 (PREV +113,000), DEC +84,000 (PREV +75,000)
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Sung Kim
Originator / LO, McLean Mortgage Corp.
on Fri Mar 7 2014, 8:58 AM
AP - 6.8mm people blamed weather
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Andy Pada
VP, 1st 2nd Mortgage Co.
on Fri Mar 7 2014, 8:58 AM
MG, don't understand what those circled numbers mean?
Fernando Sevillano, CMA
on Thu Mar 6 2014, 5:14 PM
What about taking in consideration an individual L.O. compensation plan? When comparing MND best execution to my PAR pricing I'm usually an .125 higher but still better than the big banks on Conforming and Gov. pricing!
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Sierra Capital
Owners / Loan Officers, Sierra Capital Mortgage Company
on Thu Mar 6 2014, 3:31 PM
agree w/TR - explain extra 40-50bps in fee to clients 15 vs 60 day lock and involve them in lock/float decision
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Ted Rood
Senior Mortgage Planner NMLS 543290, Wintrust Mortgage
on Thu Mar 6 2014, 3:31 PM
Can't get paid on profitability, really need to make sure clients want to float if you're going to. Only thing worse than having a client mad they locked too soon is losing floating loans completely when rates spike.
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Mar 6 2014, 2:52 PM
this is a consistent message (increasingly) from both doves and hawks
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Mar 6 2014, 2:52 PM
RTRS - FED'S PLOSSER -NOT GOING TO DEVIATE FROM TAPERING PATH UNLESS SOMETHING PRETTY SIGNIFICANT HAPPENS
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Jason York
Vice President of VA Operations, Prime Mortgage Lending, Inc
on Thu Mar 6 2014, 11:42 AM
5th 3rd allows all BP to be gifted, also need to check with MI companies, UG allows all gift
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Sung Kim
Originator / LO, McLean Mortgage Corp.
on Thu Mar 6 2014, 11:41 AM
Mh - penny Mac for sure
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Ted Rood
Senior Mortgage Planner NMLS 543290, Wintrust Mortgage
on Thu Mar 6 2014, 11:41 AM
OH. Fannie Direct for one.
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Matt Hodges
Charlottesville Sales Manager, Presidential Mortgage Group
on Thu Mar 6 2014, 11:41 AM
any idea how many or who offers 5% FNMA - all gift?
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Steven Koerner
Mortgage Banker, DE Capital Mortgage
on Thu Mar 6 2014, 11:37 AM
Back in the correspondent lending game. This site has more value than ever.
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Hugh W. Page
Senior Mortgage Consultant, M.B.A., Shelter Mortgage Company, LLC
on Thu Mar 6 2014, 11:37 AM
One of the beauties of this site. Strength in numbers.
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Steven Koerner
Mortgage Banker, DE Capital Mortgage
on Thu Mar 6 2014, 11:36 AM
Big shout out to this site. It's saved my @ss more than not!
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Andy Pada
VP, 1st 2nd Mortgage Co.
on Thu Mar 6 2014, 11:34 AM
crazy to think that a 323,000 print is the lowest in 3 months.
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Victor Burek
Mortgage Planner, Open Mortgage
on Thu Mar 6 2014, 11:34 AM
after claims, probably hit 2.75 today
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Christopher Stevens
Secondary Marketing Manager, Premium Mortgage Corp
on Thu Mar 6 2014, 11:34 AM
sideways pushing 2.75
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Mar 6 2014, 11:34 AM
RTRS - US JOBLESS CLAIMS FELL TO 323,000 MARCH 1 WEEK, LOWEST SINCE NOV 2013 (CONSENSUS 338,000) FROM 349,000 PRIOR WEEK (PREVIOUS 348,000)
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Victor Burek
Mortgage Planner, Open Mortgage
on Thu Mar 6 2014, 11:34 AM
i think we move sideways til tomorrow
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Jeff Anderson
Loan Officer, Salem Five
on Thu Mar 6 2014, 11:34 AM
We have NFP est at 150k. Is that before ADP? Anyone see revisions lower since then?
twinkle scott
on Thu Mar 6 2014, 1:06 AM
Few years back, numerous large companies went to the federal government for a bailout during the recession. One of the very first things the American people wanted curbed was exec payment . A business that failed miserably and needed Troubled Asset Relief Program help shouldn't be lining already lined pockets. Nevertheless, a new report has found executive payment slightly dipped even while a number of organizations, such as GM, American International Group and Ally Financial, were receiving Troubled Asset Relief Program funding.
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Hugh W. Page
Senior Mortgage Consultant, M.B.A., Shelter Mortgage Company, LLC
on Wed Mar 5 2014, 3:25 PM
From the "Summary" : Reports from most of the twelve Federal Reserve Districts indicated that economic conditions continued to expand from January to early February. Eight Districts reported improved levels of activity, but in most cases the increases were characterized as modest to moderate. New York and Philadelphia experienced a slight decline in activity, which was mostly attributed to the unusually severe weather experienced in those regions. Growth slowed in Chicago, and Kansas City r
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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Mar 5 2014, 3:24 PM
yeahRTRS - U.S. FEDERAL RESERVE SAYS ECONOMIC ACTIVITY DECLINED IN TWO OF 12 REGIONS IN JANUARY AND EARLY FEBRUARY, MOSTLY DUE TO WEATHER- BEIGE BOOK
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Rob Clark
Loan Consultant, Firestone Financial
on Wed Mar 5 2014, 3:24 PM
According to the beige book, weather has impacted the economy.
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Brian Bockholdt
Executive / Management / Banker, Great Lakes Credit Union
on Wed Mar 5 2014, 3:24 PM
How bad would we be getting crushed if the numbers even just came it at projections today? #greenishardwork
Paul Philbin
on Wed Mar 5 2014, 3:23 PM
The funding fee is based on whether the borrower has used his entitlement before.. Not whether the current loan is a VA.
 

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