Tue, Apr 9 2013, 10:13 AM
The plot thickens in the Access National branch closure story . Prior to the weekend Virginia-based Access National announced that it is closing its 3...
Tue, Apr 9 2013, 10:00 AM
Federal Reserve Chairman Ben Bernanke , speaking
at a Federal Reserve Bank of Atlanta sponsored conference on Monday said that
the use by the Fed o...
Tue, Apr 9 2013, 7:22 AM
Today begins 3 days of Treasury auction supply with 3yr Notes at 1pm. The need to accommodate that supply may have played into some of the weakness y...
Tue, Apr 9 2013, 5:31 PM
Freddie Mac and Fannie Mae (the GSEs) refinanced a total of 97,589 mortgages through the Home Affordable Refinance Program ( HARP ) in January compa...
Tue, Apr 9 2013, 4:12 PM
Treasuries looked like they were going to put in a nearly perfect repeat performance of yesterday's movements coming out of the 1pm hour (specifically...
Tue, Apr 9 2013, 3:07 PM
Fannie Mae's Servicer Total Achievement
and Rewards Program (STAR) hit a new milestone in 2012. For the first time since the award was initiated
in...
Tue, Apr 9 2013, 3:04 PM
Mortgage rates were only slightly higher today, after rising at their quickest pace in more than two weeks yesterday. Treasuries and MBS (the Mor...
Tue, Apr 9 2013, 2:26 PM
Homeowner beneficiaries of the recent
settlement agreement made by the Comptroller of the Currency (OCC) and the Federal
Reserve Board with 13 mortg...
Mon, Apr 8 2013, 12:32 PM
According to the U.S. Census Bureau fewer domestic households have debt, but those who do, have more of it. It's research team writes, "The percentage...
Mon, Apr 8 2013, 11:56 AM
It's been one of "those Mondays" so far with newswires and market movements struggling to keep market watchers entertained. That's a good thing in th...
Mon, Apr 8 2013, 11:23 AM
Americans' attitudes toward most key
housing measures remained stable between February and March. The National Housing Survey conducted monthly
b...
Mon, Apr 8 2013, 7:37 AM
Sometimes everything comes together just perfectly. Last week was one of those weeks as far as MBS were concerned with Friday's reaction to the Job's...
Mon, Apr 8 2013, 4:20 PM
MBS prices fell all the way to early Friday morning levels this afternoon as an average Monday morning got sloppy as the day progressed. The volume d...
Mon, Apr 8 2013, 2:19 PM
Mortgage rates rose moderately today for the first time in more than a week, marking at least a temporary end to the most aggressive move lower sin...
Fri, Apr 5 2013, 12:16 PM
The focal point of the week--this morning's Employment Situation report--fully delivered on its anticipated role as a big market mover. In this case,...
Fri, Apr 5 2013, 9:55 AM
Yesterday I was in Denver, speaking at the Colorado Mortgage Lenders Association, and, besides the increasing need for capital among lenders, the rumo...
Fri, Apr 5 2013, 7:42 AM
What a difference silence from Europe makes! After Italy announced that it would be a good 10 days before we heard anything from the 10 wise men ( re...
Fri, Apr 5 2013, 4:20 PM
By now, it's clear that 3 days of bad employment data gave MBS a big
boost this week, but if it feels like there's more to it than that,
there is....
Fri, Apr 5 2013, 4:10 PM
Mortgage rates fell hard today, further
extending an already impressive move lower over the course of the week.
Improvements accelerated throu...
Fri, Apr 5 2013, 3:18 PM
The March Housing Scorecard for March, jointly
produced by the Departments of Treasury and Housing and Urban Development,
focused on the large annua...
Thu, Apr 4 2013, 12:20 PM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Thu, Apr 4 2013, 12:14 PM
Here is what the public sees: a story from Bloomberg noting, "More American homeowners will be able to use their properties as cash machines again a...
Thu, Apr 4 2013, 11:50 AM
While there have been numerous
studies of the effects of pre-purchase counseling , the NeighborWorks program
has never been independently evaluated...
Thu, Apr 4 2013, 11:36 AM
The number of metropolitan areas on the National Association
of Home Builders/First American Improving Markets Index (IMI) slipped by one in
April...
Thu, Apr 4 2013, 8:05 AM
Yesterday, we began by pondering whether or not the ADP Payrolls or ISM Non-Manufacturing data would "break the monotony" that had, thus far, pervaded...
Thu, Apr 4 2013, 4:41 PM
The bad employment numbers
keep on coming and the good times keep on rolling for bond markets.
Specifically, MBS tightened vs Treasuries in a BIG w...
Thu, Apr 4 2013, 3:39 PM
Mortgage rates continued moving significantly lower today, extending a rally that brought them to their best levels in a month yesterday. Because ...
Thu, Apr 4 2013, 3:35 PM
A New York mortgage company has been sued by the U.S.
Department of Justice (DOJ) for alleged fraud against the Federal Housing
Administration (FHA...
Thu, Apr 4 2013, 1:40 PM
The four largest remaining private
mortgage insurance (PMI) companies have agreed to end what the Consumer
Financial Protection Bureau ( CFPB ) call...
Wed, Apr 3 2013, 12:14 PM
For the most part, this morning's price action in MBS and Treasuries would be best characterized as a healthy rally, but as we postulated in the most ...
Wed, Apr 3 2013, 10:29 AM
Rapidly rising home prices were confirmed by another
report this morning, this one from CoreLogic.
Its Home Price Index (HPI) jumped 10.2 percen...
Wed, Apr 3 2013, 9:36 AM
The pending increase in FHA guarantee
fees pushed applications for government-backed purchase mortgages up 7 percent butt
the overall volume of mo...
Wed, Apr 3 2013, 8:31 AM
I am continuing to hear that a) pipelines and fundings are ahead of where they were in 2012 in early April, but that pipelines and fundings are down...
Wed, Apr 3 2013, 7:01 AM
Whereas Monday required some level of qualification and explanation to be considered an extremely flat session, Tuesday asked for no such consideratio...
Wed, Apr 3 2013, 5:45 PM
Two state's attorneys general have
raised the public profile of their earlier requests that Edward DeMarco, acting
director of the Federal Housing F...
Wed, Apr 3 2013, 4:41 PM
Today's DOMESTIC data-driven rally has definitely looked the part of "endangered species" over the past few years and especially in the past two w...
Wed, Apr 3 2013, 3:32 PM
Mortgage rates improved at their fastest pace in a week, bringing
most lenders' rate sheet offerings to their best levels since the first few
...
Tue, Apr 2 2013, 11:45 AM
Mortgage markets have done almost admirable job of holding their ground against what has been an almost admirable risk rally in Europe. Why only "alm...
Tue, Apr 2 2013, 11:08 AM
Fannie Mae
reported today that the company had an annual net income of $17.2 billion for FY
2012 compared to a net loss of $16.9 billion in FY 20...
Tue, Apr 2 2013, 11:07 AM
The improving economy is leading to
mixed results for sales of non-owner occupied properties. The National Association of Realtors® (NAR)
reported ...
Tue, Apr 2 2013, 10:30 AM
Mortgage companies saw their average per-loan profits fall in the fourth quarter of 2012 as increasing costs outweighed higher revenues the Mortga...
Tue, Apr 2 2013, 7:20 AM
Monday's opener left a lot to be desired in terms of activity, but made up for it by being a solid day for MBS specifically. Treasuries caught a bi...
Tue, Apr 2 2013, 5:04 PM
In 1981 Jimmy Carter handed the reins to Ronald Reagan. The prime rate hit 20.5% , and yes, people still bought houses. (It has been at 3.25% for the...
Tue, Apr 2 2013, 4:11 PM
Most of today's detectable movement was seen in the overnight session as European markets got back to work after 4 days off. Treasuries actually ralli...
Tue, Apr 2 2013, 2:55 PM
Mortgage rates held steady or improved slightly today in MOST cases, though this isn't true for every lender. The day itself was flat and uneventf...
Mon, Apr 1 2013, 11:54 AM
The absence of European trading and headlines makes for an extremely quiet session today in terms of volume and the pace of events that require respon...
Mon, Apr 1 2013, 11:43 AM
There continues to be a debate about whether or not 30-yr mortgages/liens are a good idea or not .
The MBA's president - Dave Stevens - weighed in ...
Mon, Apr 1 2013, 11:05 AM
While a mortgage is a financial contract between a
borrower and a lender, when a foreclosure occurs there are repercussions that
impact parties ext...
Mon, Apr 1 2013, 8:07 AM
With the failure to make any meaningful progress last week, the 2013 version of Italy's political crisis has come to a head. On the same day that U...
Mon, Apr 1 2013, 4:18 PM
To reiterate that which has already been said, today's price movements in MBS belied the level of activity in bond markets. While MBS weren't quite as...
