As part of an upgrade to its Desktop Underwriter (DU) that will be issued over the December 8 weekend, Fannie Mae says there will be some adjustments to the credit risk assessment functions. The company says the changes are part of prudent risk management and are meant to account for 2018 market conditions including rising interest rates, waning refinances, and higher loan-to-value (LTV) lending. The announcement notes that the new version, DU 10.3, is intended to help the company's customers serve their borrowers in a manner that is reflective of current market realities. Fannie may says the new version will continue to analyze each loan casefile using variables that have shown to be predictive of mortgage delinquency. It will also, at a time when lending volume is expected to decline, address

October 25, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Oct 25, 2018 Mortgage Rates Stuck in The Mud Thu, Oct 25, 2018 4:27PM Mortgage rates were unchanged yet again , making this the third day in a row at essentially the same levels. Strikingly, underlying market movement was quite different compared to yesterday. It's striking because underlying market movement drives changes in mortgage rates above all else (outside times of crisis, anyway). Simply put, markets suggested rates should fall yesterday. They didn't. Then markets suggested rates should rise today. They didn't. What gives? It wouldn't be an oversimplification to say that mortgage lenders are slightly behind the curve when it comes to adjusting mortgage ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.29 0.00   97.47 101.61 UMBS 30YR 6.0 102.45 +0.00   99.66 102.50 10 YR Treasury 4.038 -0.003   3.621 4.780 MBS Live Day Ahead: Bonds Fight to Maintain Recent Gains Thu, Oct 25, 2018 9:07AM With slightly weaker levels overnight, the rest of the day becomes a fight to maintain the gains seen so far this week.  The easiest and most basic observation about those gains is that they've come courtesy of much weaker stock prices.  In... (read more) MBS Live Recap: Bonds More Willing to Listen to Stocks' Sob Story Wed, Oct 24, 2018 4:56PM Yesterday was ' neat ' for a while--at least in the morning hours when massive stock losses helped bonds achieve their best levels in weeks.  Then stocks bounced in the afternoon and most of the bond market gains were erased. Today was a carbon copy in many regards although the stock selling was more abrupt.  It also never enjoyed the same sort... (read more) MBS Price Change UMBS 5.0 99.92 +0.01 UMBS 5.5 101.30 +0.00 UMBS 6.0 102.46 +0.01 GNMA 5.0 100.22 -0.02 GNMA 5.5 101.26 +0.03 GNMA 6.0 102.02 +0.03 Pricing as of: 9/16 2:07AM EST US Treasury Yield Change 2 YR Treasury 3.536 -0.001 5 YR Treasury 3.604 +0.004 7 YR Treasury 3.787 -0.005 10 YR Treasury 4.036 -0.005 30 YR Treasury 4.655 -0.006 Pricing as of: 9/16 2:07AM EST Other News Key Changes For Fannie Mae's Desktop Underwriter Coming in Dec Thu, Oct 25, 2018 3:12PM As part of an upgrade to its Desktop Underwriter (DU) that will be issued over the December 8 weekend, Fannie Mae says there will be some adjustments to the credit risk assessment functions. The company says the changes are part of prudent risk management and are meant to account for 2018 market conditions including rising interest rates, waning refinances, ... (read more) At Last, A Positive Housing Report! Thu, Oct 25, 2018 10:26AM The National Association of Realtors® (NAR) just issued the first positive pending home sales report in months . Pending sales, a leading indicator for existing home sales, rose slightly in a month which saw declining sales of existing homes and a fairly devastating report on sales of newly constructed ones. NAR's Pending Home Sales Index, a measure of n... (read more) Underwriting, Sales tools; Subservicer Product; Credit Union Primer; Legal News Thu, Oct 25, 2018 9:24AM The IRS ruled on the tax treatment of business meals? True .) Congressional Bank buying McClean Mortgage? (Rumor.) A loan officer at Umpqua stealing a processor's lunch from the lunchroom refrigerator? (Still researching.) Wall Street firms increasingly buying loans directly from lenders? (True - but remember 2006?) Fannie's Beth Milstein retiring next year?... (read more) Latest Video Fed in trouble no matter what it does, says economist Higher prices preventing millennials from being able to buy homes, expert s... Fed's Clarida says further rate hikes are likely appropriate Around the Web Reuters Amazon third-quarter sales miss estimates NAR - Realtor.com More Than One-Third of Homeowners Are Paying for Renovations With Credit Cards CNBC Fed's new Vice Chair Clarida backs more rate hikes in first major policy speech Reuters Mind your language! Markets obsess about central bank lingo CNBC Here's why many young people today are not buying houses Reuters U.S. business spending on equipment slowing; goods trade deficit rises NAHB Eye on Housing FHA Mortgages Finance Growing Share of New Home Sales Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 215,000 CNBC ECB's Draghi speaks after central bank leaves rates unchanged CNBC Trump's attacks on Jerome Powell are justified, market researcher says Reuters Wall Street on course for bounce after tech selloff The Basis Point Realtors Spend Record $26 Million On Lobbying Calculated Risk Blog Housing and Recessions

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