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Created By: Adam Quinones
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Federal Reserve MBS Purchase Program





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MBS AFTERNOON: AFTER HOURS ALERT (KINDA)
by Adam Quinones
Posted
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After reaching an intraday high of 102-06, the FN 5.0 has moved back to its long standing resistance price level at 102-00. Meanwhile, the other "rate sheet influential" MBS coupon, the FN 4.5, which we are still not willing to award the current coupon title belt...is feeling the gravitational forces of "parnertia" pulling on prices.

As most market participants have cleaned their stations and left JV desks in charge....there isnt much reason to panic.  Nonetheless, as we are 6-8 ticks off price highs, some lenders may REPRICE FOR THE WORSE just to spite you.

2s vs. 10s: 250bps

MBS QUOTES

 

On a good note...Suntrust will take 125% DU REFI PLUS as of Sept. 1.

Data provided by Thomson Reuters
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memailbox  |  Contact or Connect with this Member
on
AQ. This site is the mostest awesomest incredibuluous informentertainious mortgage site ever, but.... what is with your signature time stamp. If correct, I am 3 hours past party time!!!
amehbwd  |  Contact or Connect with this Member
on
Those bastages! (for those of you old enough to remember the movie Johnny Dangerously...)
aaron sledd  |  Contact or Connect with this Member
on
AQ, that is only for current STM serviced loans. I work for them on the retail side and just got off a conference call about it. Any loan serviced outside of STM is capped at 95%, that does NOT currently have MI for primary res and capped at 80% for any loan that DOES have MI. Very disappointing in my opinion
Rob Neitzel  |  Contact or Connect with this Member
on
Still at 3.50 on the 10Yr and 102-00 on the 5.0. To think that 3 weeks ago, I didn't know what the heck that even meant. AQ/Matt, can I please get another "RANGE BOUND" or "BANG BANG" before the long weekend (assuming that is still your thoughts). Perhaps the "BANG BANG" is more appropriate to go along with the fireworks this weekend. BTW, a big thanks to all the contributors here. Good info. Good attitudes. Welcoming to noobies. Etc. It's been very educational and a bit addicting. Happy 4th to all.
Bobby Downey  |  Contact or Connect with this Member
on
My mother raised rates once and only once..............
Nate Miller  |  Contact or Connect with this Member
on
AQ is the MBS market closing early today or we geeting 1 more hour of action?
Adam Quinones  |  Contact or Connect with this Member
on
you referring to my 333 woop wooop wooop?....BANG BANG BANG against 102-00 and 100-00 ...excpet now they are acting as support instead of resistance!
kvirgil  |  Contact or Connect with this Member
on
I thought the 125% was for Las Vegas only????
J. 'Hammer' Helmer  |  Contact or Connect with this Member
on
I'm sad that I haven't seen a "should I lock or float" post from a consumer yet....................
James Bliss  |  Contact or Connect with this Member
on
Ok, Should I lock or float? $408K with 5% down, looking at 5.375 0/0 on a float down with closing by the 17th of July.
Jesse Salas  |  Contact or Connect with this Member
on
Is anyone else speechless with this 125% program. Don't get me worng, great for business and borrowers, but 125%. CRAZY!!
Michael Cromwell  |  Contact or Connect with this Member
on
I really didn't like locking in those last 2 loans. I would have liked to float 'em all into next week. It really felt like there was going to be a sell off earlier. AQ, MG, VB thanks for all of your work! Every body have a great 4th.
Michael Cromwell  |  Contact or Connect with this Member
on
It's not the 125% of old. The increase in HASP will not even make the smallest dent here in Florida. They're just spinning wheels, and trying to protect the investors. Restructure principal or get on w/ the mass foreclosures. Enough already. Let's move on! I am going to contribute to the local economy now. My savings rate will be a little damaged by Monday. Everyone be safe!
Bobby Downey  |  Contact or Connect with this Member
on
The selloff is happening now so feel better Michael.....we have lost almost all of the days gains......oh well....the rich get richer and the poor eat government cheese..... Time for scotch and fireworks should be a good mix.....
Chris Kendall  |  Contact or Connect with this Member
on
I'm in the same boat James. I went ahead and locked yesterday at 5.375. Hoping I can float down a bit.
Nate Miller  |  Contact or Connect with this Member
on
seriously, 125 worse at pf, gezz
Nick Olson  |  Contact or Connect with this Member
on
I was offered a 30 yr FHA @ 5.25% with .625 points Im in the middle of a short-sale (put contract in Feb 20) The seller has 2 mortgages on the property. The first lender (wells fargo) has accepted the shortsale and we are waiting on approval from her second lender (countrywide). The listing agent told my realtor that she expects to have us close by the end of the month (but we've heard this before) What do you think I should do? Thanks Nick
Michael Brennan  |  Contact or Connect with this Member
on
Suntrust reprice for the better.......for 20 min...reprice for the worst LOL!!!!
J. 'Hammer' Helmer  |  Contact or Connect with this Member
on
I think you should rent a minivan at Hertz.
J. 'Hammer' Helmer  |  Contact or Connect with this Member
on
125% is as useless as *** on a bull...............
Onie Ward  |  Contact or Connect with this Member
on
So does this mean rates will go up or down or what?
JOHO  |  Contact or Connect with this Member
on
And wait til you see the pricing adjustments at that %! Nothing like having to charge your borrower 2+ pts just to get to par pricing b/c his house value tanked. The program is becoming a joke. 4-5MM need it and only 13k loans total have closed so far b/c they either have MI, or the Subo got rejected, or the pricing adjustments are too much, or you can't go over 625k over 80% ltv, etc..., etc...etc...
Matthew Graham  |  Contact or Connect with this Member
on
Good question Onie... Anyone know?
Craig Anderson  |  Contact or Connect with this Member
on
It is my understanding that the 125% program will only be available to the current servicer of the loan. It sounds good in theory, but how many people that are in that position don't have a 2nd mortgage behind the first or have MI making it impossible to do the loan. It would be nice if we could figure out a streamline product similar to FHA for a fannie/freddie loan. I think that would benefit a lot of people.
Bryan/Mortgage Finance Group, Inc.  |  Contact or Connect with this Member
on
Just an extension of an existing worthless program.
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