Fri, Oct 11 2013, 5:10 PM
On November 16, Fannie Mae will implement scheduled changes to its
automated underwriting system (DU or "Desktop Underwriter"). DU is used
by len...
Fri, Oct 11 2013, 4:12 PM
Wells Fargo Bank reported record net income for the third quarter of $5.6
billion, a 13 percent increase from the same quarter in 2012 even though ...
Fri, Oct 11 2013, 2:25 PM
The life or death of the mortgage interest deduction (MID) is a perennial
Washington, DC soap opera. The prospect
of eliminating it is always on ...
Fri, Oct 11 2013, 1:16 PM
Please note that the pricing snapshot below is from earlier in the morning before
we got hit with mid-day weakness. Before that, bond markets came ...
Thu, Oct 10 2013, 12:58 PM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Thu, Oct 10 2013, 11:17 AM
Foreclosure activity in September was up
2 percent from August, RealtyTrac said today, but the third quarter saw the
lowest level of foreclosure...
Thu, Oct 10 2013, 10:51 AM
While applications for mortgages to
finance newly constructed homes fell slightly in September they continued to
increase in three large Sunbelt sta...
Thu, Oct 10 2013, 10:09 AM
"Ladies, if your guy says that he is going to fix something, he means
it. There is no need to remind him every six months." Hopefully the
governme...
Thu, Oct 10 2013, 4:46 PM
Mortgage rates were noticeably higher today despite
a late day rally that saw several lenders offer improved rate sheets.
That means that thi...
Thu, Oct 10 2013, 4:28 PM
Though somewhat of a hollow victory, bond markets improved after
today's strong 30yr bond auction. It was hollow in the sense that the
gains mere...
Thu, Oct 10 2013, 1:52 PM
Lending for multifamily housing in
buildings with five or more units increased by 33 percent in 2012 according to
the Mortgage Bankers Association...
Thu, Oct 10 2013, 1:47 PM
Fannie Mae checked off another box on
the Federal Housing Finance Agencies 2013 Conservatorship Scorecard by recently
signing an agreement for cred...
Thu, Oct 10 2013, 1:21 AM
Markets have clearly begun pricing in various levels of default risk
for the US. Sounds scary, but it's not the first time and it won't be
the la...
Wed, Oct 9 2013, 12:36 PM
Part of the explanation for today's movement lies in yesterday's
events. Notably, we saw the biggest spike yet in 1-month Treasury
Bills. This i...
Wed, Oct 9 2013, 10:51 AM
I have decided to take matters into my own hands. I am in the
Washington DC area today for the Mid-Atlantic Lender Conference, and I
plan on telli...
Wed, Oct 9 2013, 8:49 AM
The revival in refinancing applications
continued again last week as mortgage interest rates retreated again. The
Mortgage Bankers Association (...
Wed, Oct 9 2013, 6:51 AM
These are not normal times. While this could have been said at many
points since the onset of the financial crisis, they're perhaps even
more abn...
Wed, Oct 9 2013, 4:39 PM
Mortgage rates were unchanged today, the
the underlying mortgage-backed-securities (MBS) market was volatile.
MBS have the most direct effect...
Wed, Oct 9 2013, 4:32 PM
Bond markets began the day in roughly the same territory they
occupied at the end of yesterday. MBS prices had an artificial deficit
due to the r...
Wed, Oct 9 2013, 4:14 PM
Pressure appears to be building on the
Federal Housing Finance Agency's (FHFA) acting director to back down or at
least delay an intended reduction ...
Wed, Oct 9 2013, 3:08 PM
A new system
should incorporate several structural recommendations including a wholly-owned
government corporation functioning as a catastrophic gua...
Wed, Oct 9 2013, 1:00 PM
The White House has confirmed that President Obama
will announce his nomination of Janet Yellen to succeed Ben Bernanke as Chairperson
of the Federa...
Tue, Oct 8 2013, 12:37 PM
Referring to today's movements in MBS with the word "volatility" may
be a bit generous considering we haven't even traversed half of
yesterday's r...
Tue, Oct 8 2013, 11:27 AM
Freddie Mac has issued guidance to its
lenders and servicers in an effort to keep the mortgage market flowing during
the lengthening government shu...
Tue, Oct 8 2013, 9:46 AM
The Mortgage Bankers Association's (MBA)
Mortgage Credit Availability Index (MCAI) indicates that lending standards tightened
slightly for the sec...
Tue, Oct 8 2013, 9:40 AM
The new securitization platform envisioned in the Federal
Housing Finance Agency's (FHFA) Strategic
Plan for Freddie Mac and Fannie Mae has taken ...
Tue, Oct 8 2013, 9:38 AM
Freddie Mac and Fannie Mae have together completed nearly
3 million foreclosure prevention actions since being placed in conservatorship
in 2008 t...
Tue, Oct 8 2013, 9:37 AM
"All of the talk about lenders 'loosening' their requirements for IRS
transcripts. Lenders should remember that just because an investor or
aggreg...
Tue, Oct 8 2013, 6:52 AM
With the government shutdown ongoing, there continues to be a severe restriction
on relevant economic data. Unfortunately, "relevant economic dat...
Tue, Oct 8 2013, 5:46 PM
Home ownership is expected to be key to the California real estate market
over the next year. The 2014 California Housing
Market Forecast" released...
Tue, Oct 8 2013, 5:00 PM
Mortgage rates moved higher today, but remain in the range of recently lower levels that has persisted since late September. Conforming, 30yr f...
Tue, Oct 8 2013, 4:48 PM
Bond markets put on a clinic today, demonstrating just how intent they
are on doing absolutely nothing. It may not have seemed like much of a
fea...
Tue, Oct 8 2013, 1:26 PM
CoreLogic
said today that the shadow inventory or pending supply of homes at the end of
July consisted of 1.9 million homes with an approximate ma...
Mon, Oct 7 2013, 12:21 PM
The National Association of Home Builders (NAHB) and First
American Title Insurance Company today unveiled a new measure of housing market
health ,...
Mon, Oct 7 2013, 9:26 AM
This is exciting - kind of like a WWII movie, where things are sent
via code. (No foot tapping jokes please!) In this case, our government's
weath...
Mon, Oct 7 2013, 7:44 AM
Uncertainty and paralysis were the themes that pervaded last week.
Those are likely to continue for bond markets as long as the shutdown
persists...
Mon, Oct 7 2013, 5:32 PM
There are several different iterations of "Shutdown Limbo," they're
all essentially the same dance at the end of the day, especially this
one! Re...
Mon, Oct 7 2013, 4:52 PM
Mortgage rates were mixed but flat on
average, though they began the day in stronger territory. This
morning's rates sheets were the best in ...
Mon, Oct 7 2013, 3:25 PM
Three areas drew the focus of the Lender Processing Services
(LPS) August Mortgage Monitor released today: prepayment activity and
refinance ...
Mon, Oct 7 2013, 2:22 PM
Fannie Mae said today that consumer
responses to its monthly National Housing Survey may have been tempered in
September by growing concern about ...
Mon, Oct 7 2013, 1:55 PM
The week has begun in the same sideways fashion that dominated the
entirety of last week. 10yr yields continue to orbit around 2.615,
moving more...
Fri, Oct 4 2013, 10:26 AM
According to a release from Citi, the bank will pay Freddie Mac
$395 million, all of which is covered by its existing mortgage
repurchase rese...
Fri, Oct 4 2013, 9:53 AM
The federal payroll report, eagerly
awaited on the first Friday of each month, will not be available today or for
the foreseeable future. The Bureau...
Fri, Oct 4 2013, 7:53 AM
Yesterday was very telling in 2 important ways. First of all, it
confirmed that no one knows what the heck they're going to do until they
get the...
Fri, Oct 4 2013, 5:13 PM
Mortgage rates were slightly higher today, but remained well within the extremely narrow range that dominated the week. Conforming, 30yr fixed ...
Fri, Oct 4 2013, 5:06 PM
If we take every price from every minute of MBS trading so far in
October, the average Fannie 3.5 price is 101-26, precisely where it's
coasting o...
Fri, Oct 4 2013, 4:14 PM
Lenders have had three days to
digest Tuesday's partial Federal government shutdown, and while loan processing
has been affected, the impact has no...
Fri, Oct 4 2013, 1:14 PM
Sometimes there are a lot of headlines and events to discuss, but
this isn't one of those times. There's nothing new or meaningful to add
beyond ...
Thu, Oct 3 2013, 12:20 PM
While he anticipates that the current
government shutdown will be short-lived, Moody Analytics Chief Economist Mark
Zandi said yesterday that "If ...
Thu, Oct 3 2013, 12:01 PM
ISM's Non-Manufacturing Index has always been a relevant market
mover, but especially so during in recent months. Today's rivals
yesterday's ADP ...
