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on Wed Dec 4 2019, 10:13 AM
Do not confuse a 2% regulatory minimum amount of capital with "adequate" capital. Capital levels should be based on risk and expected losses. HUD’s Federal Housing Administration (FHA) has certainly improved the performance of the MMIF but as the report states it is not strong enough to withstand a downturn and rate cut discussions would be...
Ted Rood
Senior Originator, Homesite Mortgage
on Tue Dec 3 2019, 9:33 PM
With FHA's reserves at over double their mandated levels, a rate cut is not only warranted, but arguably overdue. In a perfect world, FHA would reduce MIP across the board, but I'll be shocked if they do so for current clients.
on Wed Nov 6 2019, 3:44 PM
Rates look to be generally on the upswing. I encourage you to lock-in soon, hopefully with a lender that has a FREE float-down policy in case rates happen to go down before closing.
Ted Rood
Senior Originator, Homesite Mortgage
on Thu Oct 31 2019, 6:41 PM
There's developments breaking regularly, both those helping and hurting bond markets. It's not like economic data, where we know in advance when the news will hit.
on Wed Oct 30 2019, 9:07 AM
Need to lock down a lender in the next week or so. Are there any anticipated announcements or events with regards to the trade war expected soon?
on Mon Oct 28 2019, 3:58 AM
The price of the old home can be raise by renovating it and giving it a new layout. It helps to increase its value.
on Fri Oct 25 2019, 9:13 AM
Rob - Looking at the TCF example, the largest LTV shown on the tables on Pages 1 and 2 is 89.99%, however in the example shown on pages 5-6 the CLTV is 94.286%. Are they doing 95% financing on purchase loans with the HELOC providing 15% of the financing?
on Wed Oct 16 2019, 11:00 PM
Nice post about the Dragon board and its looks good. Thanks for sharing. Also, I would recommend a team of professional in They are experts on this.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Oct 9 2019, 5:22 PM
A Treasury "bill" is not the same as a legislative bill. Treasury bills are shorter-term bonds. So when Powell is talking about buying bills, it's helpful for the shorter end of the bond market. With respect to "passed," "ahead," etc. you're right. I think I'll change that going forward. Look for different verbiage...
on Wed Oct 9 2019, 3:19 PM
"In the day just passed" (you mean yesterday?) "In the day ahead" (you mean tomorrow?) "Powell also specifically mentioned the Treasury bill market as being a potential target for expansion--a fact that helped shorter-term bonds rally while longer-term yields moved higher." (So was there 'potential' in the Treasury...
on Wed Sep 18 2019, 9:12 PM
Spot on! I been reading your forecasting for the last month and you helped me a lot. Was able to lock on a 30 year fixed at 3.375.
on Wed Sep 11 2019, 8:12 AM
What’s was the transition rates each month from Jan-2007 until it peaked? Would also be curious to see the delinquency rate and serious delinquency rate over this same time as there seems to be conflicting information from different sources
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Aug 16 2019, 11:58 AM
Thanks Larry. We should also keep in mind that QE3 marked a high point for MBS levels vs Treasuries. It's been very gradually downhill from there--especially after balance sheet runoff and remaining reinvestments shifting in favor of Treasuries. In other words, we probably shouldn't expect mortgage rates to be able to get back within the same...
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Thu Aug 15 2019, 1:16 PM
We must look to "Time and Bond market stability." I think that is about as accurate as you can be in an analysis, Matt. It undoubtedly is a little frustrating for loan officers who would be anticipating rates to be at least two eighths lower now. We will have to see if this is indeed the beginning period of a recession and 10 year treasury...
on Mon Jul 1 2019, 9:13 PM
Does anybody know a lender doing this loan? I cannot not find anybody doing it ??
on Wed Jun 19 2019, 9:30 AM
New construction continues in Colorado, but that also brings increased inventory which is driving down the price of housing and increasing the time to sell. In the South Denver metro area houses take an additional 30+ days to go Under Contract compared to last year due to the increased inventory.
on Wed Jun 19 2019, 9:27 AM
If the Feds lower interest rates, that should lower the 10 year bond rate, and in turn lower mortgage interest rates. Given those factors that may boost the housing market.
on Wed Jun 19 2019, 9:25 AM
The 10 year bond rate continues to fall, which lowers overall interest rates. That is a good thing for home buyers and may indicate a surge going into the last 2 quarters of 2019.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Jun 19 2019, 9:09 AM
Look at the "annual totals" column in the table at the bottom here:
Ted Rood
Senior Originator, Homesite Mortgage
on Wed Jun 19 2019, 9:02 AM
Jann is just the writer, he does not produce the data.
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Tue Jun 18 2019, 1:39 PM
Perplexing indeed, Jeffrey. Is Jann Swanson maybe on vacation using old predictions? Or Freddie Mac is that far off in providing accurate forecasts for June 2019? Either way Mortgage News Daily should provide some sort of correction,
on Mon Jun 17 2019, 7:07 PM
The futures price of gasoline peaked on 4/22/19 at $2.0645/gal. It closed today on 6/17/2019 at $1.6884/gal, down nearly 18%, and you're still forecasting based on rising gasoline prices??
on Mon Jun 17 2019, 6:42 PM
"The 10-year note yield is expected to decline to 2.4 percent and 2.5 percent in 2019 and 2020, respectively." Gee, what genius made that projection? The yield on the 10 yr note closed at 2.086% today, 6/17/2019.
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Mon Jun 10 2019, 2:27 PM
It is always good to view positive reports on equity gains for homeowners. Not withstanding the unique circumstances of what was often far too relaxed lending requirements just prior to 2008, we can view home ownership since post WW II as a good investment for the long term. In many areas of the country home purchasing has remained strong over the long...
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Mon Jun 10 2019, 2:09 PM
Hey, did any mortgage consultants see the line they could add to their encouragement for many prospective home buyers!? " According to a 2017 Federal Reserve report, the median net worth of a homeowner is 44 times that of a renter."
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Mon Jun 10 2019, 2:06 PM
As many LO's I can be busy as heck, and missed this excellent report by Jann Swanson when it came out. It is easy to toss numbers about and Catherine, in her comment, may very well derive her statistics from factual research. However, as The National Association of Hispanic Real Estate Professionals points out, there is opportunity to miss out on...
Susan Nguyen
Mortgage Consultant, MA, CT, NH, RI, PA, FL, Homestead Mortgage, LLC.
on Mon Jun 10 2019, 1:42 PM
Let's find out the figures for New England states. Is it good time for refinance?
Originator / LO, Shore Capital Corporation
on Fri May 31 2019, 2:46 AM
Forty-five percent of the population consists of DREAMers? This is not correct. By a long shot. The number of illegal aliens who entered the U.S. before their 18th birthday, the group known as DREAMers. = 3.6 million The number of illegal aliens who entered the U.S. before their 16th birthday. This is the group that met the basic requirements to apply...
on Wed May 29 2019, 11:18 PM
I agree that people should come to this country legally. But you can be very right and be DEAD right.Meaning your right opionion can kill you (or the economy). My point is that this article is discussing the problem of Hispanic households getting loans. What is not mentioned is the dreamers. More and more I am seeing how HUGE the dreamer problem is...
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Wed May 22 2019, 3:10 PM
Anyone pay attention to the class action lawsuit? If found favorable it would definitely affect realtors significantly, in a negative way, and thereby affect loan officers who depend, in part, on real estate agent referrals. "A class action lawsuit was filed with the U.S. District Court in the Northern District of Illinois alleges that cooperation...
on Wed May 8 2019, 6:25 PM
Agency NINA? Is it April 1st or 12th of Never??
on Thu Apr 25 2019, 9:07 AM
The biggest reason I've seen in my firm for aversion to low dollar amounts is compliance. Closing costs are virtually the same for a low loan amount versus a higher one, increasing the risk of a "high-cost mortgage".
on Wed Apr 24 2019, 2:00 PM
"Buyers who have been able to obtain small dollar mortgages across the spectrum [...] have comparable credit profiles to those of borrowers of mid-sized mortgages and their loans perform similarly." This research seems to point to the obvious. I assume originators would match the creditworthiness of borrowers of LB1s with those of LB6s and...
Ted Rood
Senior Originator, Homesite Mortgage
on Wed Apr 24 2019, 11:44 AM
Since buyers obtaining mortgages on lower priced homes have similar scores to those buying more costly properties, is it possible that the prevalence of cash sales for cheap houses is because investors buy a higher % of them, and often eschew mortgages in favor of cash? That's my hunch.
on Tue Apr 23 2019, 12:04 PM
I feel the same way as Arthur and would love some feedback, we are doing training's on VA changes and just don't see that there is really a difference between type 1 and IRRRL
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Sat Apr 20 2019, 1:43 PM
Ann, the 2 things you mention could have been included in the study...perhaps paying attention to the primary regional differences, and the prediction 90% of tax filers would take the standard deduction as opposed to 70% in the past are helpful suggestions. Particularly how the higher number of tax filers taking the standard deduction seems pretty important...
on Wed Apr 17 2019, 9:45 PM
I think there are a couple things missing from the study. The feb 2018/2019 year over year numbers for existing home sales are more meaningful when broken up by regions. The Northeast sales increased, the south and Midwest were flat and the west was down 7.2%. So it's more of a regional issue, versus national. That is important. . Secondly, in the...
on Tue Apr 16 2019, 8:41 AM
A few questions on this article: Are you trying to say that the race to the bottom will affect a non-banks ability to get credit from Warehouse Lenders? Next, are you saying that non-banks who are leveraging their MSR portfolio to receive credit have to worry about rates dropping as it reduces their asset and their ability to borrow. So the liquidity...
on Thu Apr 11 2019, 8:55 PM
What have you seen regarding a 'clarification from HUD on FHA loans' to DACA recipients ? I've been following this closely and have only witnessed side stepping.
on Wed Apr 3 2019, 4:54 PM
Feeling proud I locked my pipe last Thursday 28th at the recent low. After such a significant drop the bump back up was totally expected. But Good / better times still ahead. Sooner than later I think. Floating the wave back two cents.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Mar 27 2019, 5:07 PM
he's saying clients who need to close within 30 days are being strongly advised to lock while those with more time to spare can lock or float depending on their level of risk tolerance.
on Tue Mar 26 2019, 6:28 PM
Hi, " I'm locking loans closing within 30 days, still going by clients' risk tolerance for those closing further out. " What does this mean - is he saying that go out and get the locked-in rates now from lenders or if closing is within 30days, get these rates locked in now? What is the client risk referred here?
Ted Rood
Senior Originator, Homesite Mortgage
on Wed Mar 20 2019, 9:49 AM
The Urban Institute released the study and its conclusions. Whether they are accurate or not (I too feel they're ignoring economic conditions, which are vastly more important to defaults than appraisals), Jann was not the source for any conclusions.
on Tue Mar 19 2019, 4:51 PM
NO- the economy tanked and got better. There are massive issues at play here creating contrived markets by the GSE's very dangerous for consumers. These numbers are because the economy improved. Be careful reading stories from this writer. She needs to do some real life research
Ted Rood
Senior Originator, Homesite Mortgage
on Tue Mar 12 2019, 5:14 PM
Good to see this quantified, but it's hardly surprising that greater equity leads to more timely mortgage payments.
on Mon Mar 4 2019, 10:59 AM
Trying to figure out what a type 1 VA Cash out Refinance is, and think through the circumstances that will arise. It seems almost all VA Refinances will fall into two categories, VA IRRRL or a VA Type 2. VA's terminology is a little confusing as anytime someone does a refinance other then an IRRRL it is considered a "Cash Out", even if...
on Tue Feb 26 2019, 11:12 AM
here's a thought: We are ever "in the cycle," aren't we. After the economic downturn, however, we should have learned a valuable lesson: had stronger Realtors not allowed home sellers to dictate outrageous pricesonce again, just to line their own pockets, we might not have once again brought the course to foreclosures or short sales...
on Fri Feb 15 2019, 12:14 AM
Such an informative post. Thanks.
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Fri Feb 8 2019, 9:55 AM
I wanted to an overly long, unedited comment already of course...that I do help with disabled seniors and will continue to. I believe so many Seniors have much experience and wisdom to share with their younger local citizens and are yet valuable to the community's richness and well being. It is been suggested (ooops, I mean has been suggested...
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Wed Feb 6 2019, 2:22 PM
It is been suggested in our high priced and high rent community that Seniors who are empty nesters could share their home with the right, well screened tenant (s). To some extent that is occurring as at least one agency in the area helps Senior homeowners match up with house share renters. Another good suggestion has been to allow homeowners a fast...

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Mortgage Rates:
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  • 15 Yr FRM 3.46%
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  • Jumbo 30 Year Fixed 3.91%
MBS Prices:
  • 30YR FNMA 4.5 105-03 (-0-01)
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  • 30YR FNMA 5.0 106-27 (0-00)
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  • 30YR FNMA 5.5 107-20 (-0-09)
Recent Housing Data:
  • Mortgage Apps -2.18%
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  • Refinance Index -7.75%
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  • Purchase Index 0%