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Investor-Driven Real Estate Boom Breakdown; Mortgage Rates, Bond Markets Bounce Ahead of Fed Minutes
Published: 5/21/2013
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  • Kelcey Morange
    Answers: 100
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CompetitionBenefitsConsumers
on Tue May 21 2013, 6:55 PM
Dodd-Frank outlawed all 'Bad Loans', so there is no justifiable argument for 'Originator Compensation Control'. It’s just another means to reduce broker’s competitive advantage. Bank LO's still get paid pretty much as they always have, but Brokerage COMPANIES, have now been classified as 'Loan Originators' and some States have interpreted the rule as ALL Broker/Wholesale comp agreements should be the same. This removes competitive pricing flexibility leaving Brokers out of the market on big loans, unable to do small loans while Banks offer varying rates based on loan amounts. Coincidence?
Jim Zellmer
on Tue May 21 2013, 2:29 PM
Dive into local market statistics & trends. A few examples: Palo Alto, CA: http://www.pulse.re/?p=39 Woodside, CA: http://www.pulse.re/?p=9 Grosse Pointe, MI: http://www.pulse.re/?p=36
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Jason Adams
Sr Loan Officer , Bright Path Mortgage
on Tue May 21 2013, 2:18 PM
That was the 2nd one from Platinum today
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Jason Adams
Sr Loan Officer , Bright Path Mortgage
on Tue May 21 2013, 2:18 PM
REPRICE : 2:10 PM - Platinum Mortgage Better
Roland Wilcox
on Tue May 21 2013, 2:17 PM
REPRICE : 1:26 PM - USBank Better
Tom Schwab
on Tue May 21 2013, 2:17 PM
REPRICE : 1:25 PM - Franklin American Better
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Dameon Everhart
Lock Desk / Secondary, First Century Bank
on Tue May 21 2013, 2:11 PM
REPRICE : 2:07 PM - First Century Bank Better
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Nate Miller
Mortgage Loan Officer, Journey Financial, Inc.
on Tue May 21 2013, 2:11 PM
REPRICE : 2:06 PM - Interbank Better
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Michael Stark
Michael Stark
on Tue May 21 2013, 2:11 PM
REPRICE : 2:05 PM - Wells Fargo Better
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 2:11 PM
REPRICE : 1:55 PM - Sun West Mortgage Better
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 2:11 PM
REPRICE : 1:55 PM - Pinnacle Better
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Matt Sullivan
Executive / Management / Banker, Westtown Savings Bank
on Tue May 21 2013, 2:11 PM
REPRICE : 1:55 PM - Fifth Third Mortgage Better
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 2:11 PM
REPRICE : 1:53 PM - Rushmore Home Loans Better
Tom Schwab
on Tue May 21 2013, 2:11 PM
REPRICE : 1:51 PM - AMC Better
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Kent Mikkola #353976
Mortgage Consultant , M & M Mortgage, LLC #213677
on Tue May 21 2013, 1:17 PM
REPRICE : 1:16 PM - Freedom Mortgage Better
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Rob Clark
robclark
on Tue May 21 2013, 1:17 PM
REPRICE : 1:15 PM - Stearns Lending Better
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Jeremy Bittner
Originator / LO, Easy Mortgage
on Tue May 21 2013, 1:17 PM
REPRICE : 1:14 PM - Flagstar Better
Frances Villa
on Tue May 21 2013, 12:31 PM
Well Ladies & Gentlemen, I am a housing counselor went through a foreclosure myself and experienced everything you all did. I have figured out that they issued a check to everyone that had received a Trustee Deed during the period of 1/1/2009 thorugh 12/31/2010 for funds under the Independent Foreclosure Review. The worst thing is that what they failed at is to verify if people actually lost their homes. I have clients that were given modification, a principal reduction, were able to keep their homes, and still got a $3000 check, where I in turn received a check for $500. Whre is the justice? The Government really needs to take a look at what happened. I have so many situations where people got money and really should not have. I guess we can only HOPE there is someone in government that is honest, and truly remembers their promise as to what they would do when elected.
Tom Schwab
on Tue May 21 2013, 11:53 AM
REPRICE : 11:52 AM - Flagstar Better
Tom Schwab
on Tue May 21 2013, 11:51 AM
REPRICE : 11:51 AM - Franklin American Better
Tom Schwab
on Tue May 21 2013, 11:51 AM
REPRICE : 11:50 AM - AMC Better
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 10:46 AM
Does that chart mean appraiser can start making time adjustments for the better on their reports that underwriters won't laugh at and appraisal management companies won't send back for revisions?
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Tue May 21 2013, 10:46 AM
that's a cool link from the NY Fed in the News Stream at 9:44
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Hugh W. Page
Senior Mortgage Consultant, M.B.A., Shelter Mortgage Corp.
on Tue May 21 2013, 10:46 AM
I sure hope you’re right because if you look at the longer term advanced chart below that support it looks like a fair drop from there to the next level. Bounce baby bounce!
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 10:46 AM
Just lloked at the advanced charts for 1M and 3M timeframes, Crazy and depressing sell off, but the 3M charts looks to support a strong floor of resistance just below current levels. Hoping we can bounce off of it as well as we did last time
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Tue May 21 2013, 10:45 AM
"shifty around 102" I think, would be the thesis
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Tue May 21 2013, 10:45 AM
yeah, the 5 sessions in March that we spent trading close to 102-00, did see more 3.5 origination, but on either side of those 5 sessions, the next lowest intraday prices were over 102-18, so it wasn't an especially period of observation
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Ted Rood
Senior Mortgage Consultant, Wintrust Mortgage
on Tue May 21 2013, 10:45 AM
Maybe we can threaten it again and it will cease plummeting endlessly.
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Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Tue May 21 2013, 10:45 AM
Funny you say that Ted, I was just wondering when we would start looking at 3.5 as the main production coupon. Nice thing is, last time I thought that and asked MG about it, the 3.0 coupon was back in the picture shortly thereafter
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Ted Rood
Senior Mortgage Consultant, Wintrust Mortgage
on Tue May 21 2013, 10:45 AM
At some point soon (if not already) 3.0 coupons become pretty meaningless if they drop much further!
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John Tassios
Senior LO / QC Manager , Pro Lending Source LLC
on Tue May 21 2013, 10:45 AM
Hopefully Bernanke will be dovish tomorrow, inflation is too low for his comfort zone, so I think he will say that QE will continue rest of year at current levels / hopefully the minutes will be more dovish too
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Oliver S. Orlicki
Loan Officer, Innovative Mortgage Services
on Tue May 21 2013, 10:45 AM
in the red again. Depressing recently. Tomorrow should at least give us some clearer direction as to whether we continue this move up
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Roger Moore
President, Neighborhood Lender
on Tue May 21 2013, 10:45 AM
gonna be slow bleeding today. Can't wait! Sell. Re-sell. Sell. Re-sell.
Niccolo Satullo
on Tue May 21 2013, 10:45 AM
positive thinking tuesday
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Dan Clifton
President, Clifton Mortgage Services, LLC
on Tue May 21 2013, 10:45 AM
so much for the glimps of green this am
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Mark
agentcampus.com
on Tue May 21 2013, 9:48 AM
I don't even get it why they pronounce it as "real-uh-tor" when it can be easily pronounced as "re-al-tor". I always use the word "realtor" to every real estate agent, NAR member or not anyways.
concern person
on Tue May 21 2013, 3:50 AM
What if a person has been issued a check and feels that the payment received wasn't the fair payment that they deserve?
Sorin Lassmann
on Mon May 20 2013, 4:25 PM
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Sorin Lassmann
on Mon May 20 2013, 4:25 PM
Fresh Cut BG / SBLC, MTN Specifically for Lease @ (5.0 0.5 X)%. Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected We are direct to a provider for BG/SBLC specifically for lease, at leasing price of (5.0 0.5 X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information. Contact : Mr. Sorin Lassmann Email: providermandate.ls@gmail.com Skype ID: ls.nicu
 |  View Profile
Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:53 PM
I think something along those lines MH, yeah. Depending on the tone and the particulars, there's room for further weakness in bond markets, but if tapering talk is utterly absent or flat out dismissed, room for improvement.
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Matt Hodges
Loan Officer, Presidential Mortgage Group
on Mon May 20 2013, 3:53 PM
MG - to clarify.... tapering comments = status quo. consistent QE purchases through established benchmarks = rate improvements later in the week?
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:53 PM
Evans has consistently been the most dovish FOMC member when it comes to QE, and here he is saying he's open minded to discussing adjustments to the pace. If markets moved at all on these wires, it was barely noticeable. That seems to suggest markets are roughly in the position they wanted to be in to account for tapering to come up in Fed Minutes on Wednesday.
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:53 PM
RTRS- EVANS:WOULD BE OPEN-MINDED ABOUT DISCUSSING ADJUSTMENTS TO PACE OF BOND BUYING AT THIS MEETING, OR NEXT, OR THE ONE AFTER
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Chris Kopec
on Mon May 20 2013, 3:53 PM
Agreed Ted....after all, much more important to listen to non-voting minority hawk than a voting majority dove.
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Ted Rood
Senior Mortgage Consultant, Wintrust Mortgage
on Mon May 20 2013, 3:53 PM
Clearly no one is paying attention to Mr Evans at the moment.
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:53 PM
RTRS- EVANS: POSSIBLE FED COULD KEEP RATES LOW EVEN AFTER UNEMPLOYMENT FALLS BELOW 6.5 PCT, IF INFLATION REMAINS LOW
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Brent Borcherding
Loan Officer, Capital M Lending
on Mon May 20 2013, 3:52 PM
I think late 2014, may be realistic if the dynamite doesn't go boom.
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:52 PM
RTRS - EVANS: INFLATION IS REALLY QUITE WEAK, AND WOULD LIKE TO SEE IT CLOSER TO OUR OBJECTIVE OF 2 PCT
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Matthew Graham
Rates Strategist, Author, Mortgage News Daily / MBS Live!
on Mon May 20 2013, 3:52 PM
RTRS- EVANS: CONFIDENT FED HAS THE RIGHT ACCOMMODATION IN PLACE, EXPECT SELF-SUSTAINING RECOVERY BY 2014
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Victor Burek
Mortgage Planner, Open Mortgage
on Mon May 20 2013, 3:52 PM
REPRICE : 12:32 PM - Plaza Worse
 

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