Tue, Dec 21 2010, 11:42 AM
Profit takers and short sellers are making their presence known following the Fed's latest POMO in the long end of the yield curve. Flows have gone ne...
Tue, Dec 21 2010, 11:26 AM
Making money is not all about producing loans. It's about running the business efficiently. Don't get me wrong, loan production is a very very importa...
Tue, Dec 21 2010, 10:06 AM
FHA Extends Direct Endorsement Deadline for Principal-Authorized Agents; Correspondent FHA Originators Get Deadline Waiver
Tue, Dec 21 2010, 8:22 AM
The 2.625% coupon bearing 10 year note is currently +8/32 at 94-08 yielding 3.311%. The 2s/10s curve is 3bps flatter at 271 wide. The FNCL 4.5 is UNC...
Tue, Dec 21 2010, 5:20 PM
Another data-less day has passed and we've seen another day of chopatility led by technical inflection levels surrounding the Fed's open market operat...
Tue, Dec 21 2010, 1:56 PM
From a big picture perspective...the modest gains we've enjoyed lately have done little to dent the massive declines that played out in December. Reba...
Mon, Dec 20 2010, 12:44 PM
Once the Fed's open market operations were done for the day...we started seeing rates make a move higher along with with a modest increase in trading ...
Mon, Dec 20 2010, 10:06 AM
I've made a list. I've checked it twice. And yep. Confirmation! I have not finished my holiday shopping yet! Nor am I ready to welcome the holiday spi...
Mon, Dec 20 2010, 9:23 AM
Lender Loosens Underwriting Regs; Early Check Eligibilty Tool; Loan Production Conduit Breakdown
Mon, Dec 20 2010, 8:55 AM
December floaters shouldn't be comfortable yet. You should actually be pretty antsy. That's how the market will behave next week at least. The week ah...
Mon, Dec 20 2010, 5:34 PM
We started letting War Roomers into MBSonMND last week. So far so good! If you signed up to be a beta tester, be patient with us, your invitation is c...
Mon, Dec 20 2010, 4:30 PM
In this shortened holiday week, in an era already frought with volatility, we'd only expect more of the same. However, with last week's strength in M...
Mon, Dec 20 2010, 1:28 PM
The National Association would like FICO to change the way they score credit utilization in light of recent unilateral reductions in credit lines by m...
Fri, Dec 17 2010, 11:48 AM
Aaron and Beth Stiner are renters, but not by choice and not because they can't afford to buy a house. They had a move-up home in Phoenix selected and...
Fri, Dec 17 2010, 11:22 AM
We stand a reasonable chance of confirming the rally that began around mid-day yesterday. Bonds have added to those gains this morning but positive p...
Fri, Dec 17 2010, 10:52 AM
GSEs Update Loan Delivery and Appraisal Data Requirements; MERS Phase Out; Amtrust Name Change; MBA on Compensation
Fri, Dec 17 2010, 9:29 AM
The MBA agrees with us, the mortgage industry is no where near ready to implement new originator compensation regs...
Fri, Dec 17 2010, 8:51 AM
The House of Representatives last night voted 277 to 148 to approve an $858 billion tax package extending the Bush-era tax cuts. After the news S&P fu...
Fri, Dec 17 2010, 5:52 PM
Phew. We made it through yesterday afternoon. And then we made it all the way through today too! Rally intact!! Additional gains secured!!! Reprices f...
Fri, Dec 17 2010, 5:13 PM
Volatility has not been a friend to mortgage rates over the last 30 days, but in the last 36 hours, we've been good buddies!
Fri, Dec 17 2010, 2:08 PM
MBS and treasuries have broken their intraday resistance levels after earlier stability prompted fast$ bond "vigilantes" to cover their short positio...
Thu, Dec 16 2010, 11:40 AM
Activity in all three stages of the foreclosure process declined in November, both from the previous month and the numbers one year earlier. Some of ...
Thu, Dec 16 2010, 11:15 AM
Lots of data to recap this morning and lots of drama to digest from yesterday. Not much has changed overnight as MBS and treasuries both sit at simila...
Thu, Dec 16 2010, 10:06 AM
Four federal banking regulators have issued a final rule allowing consideration of Neighborhood Stabilization Program projects a fulfilling Community ...
Thu, Dec 16 2010, 10:02 AM
S&P "Incorrectly Analyzed" Almost 2,000 RMBS Issues; More Originator Comp Convo; The Value of 2nd Liens; Co-op Share Loans
Thu, Dec 16 2010, 8:23 AM
Benchmark interest rates spiked yesterday afternoon following the Senate's passage of the tax cut extension bill. About half of those losses were reco...
Thu, Dec 16 2010, 5:57 PM
This may be what you've been waiting for! Over the course of the past few days and weeks, we've been increasingly trying to convey the same message: ...
Thu, Dec 16 2010, 5:22 PM
For now....YAY the bleeding has stopped....For now. Let's see what happens tomorrow before we start getting excited about another false start.
Thu, Dec 16 2010, 3:44 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have released New Residential Construction statistics for November 2010.
Thu, Dec 16 2010, 2:10 PM
It sounds almost surreal, but the new best execution rate is 5.25%. We just blew through 4.75% and 5.00% in less than a week. Volatility in loan pric...
Wed, Dec 15 2010, 12:05 PM
The 10yr note got gappy after the Fed completed their latest QEII POMO at 11am. The move has not been originator friendly. 10s have lost almost all of...
Wed, Dec 15 2010, 11:34 AM
Not surprisingly, with rates up more than half a percentage point over the past month, refinance activity has declined sharply. Home purchase applica...
Wed, Dec 15 2010, 11:25 AM
Middle Class America Not Ready for Retirement; CALPERS Loan Program Done; More Opinions on Loan Officer Pay; Gain on Sale Up in 3Q
Wed, Dec 15 2010, 8:34 AM
Plain and Simple: Inflation hawks really don't have a crutch to lean on if they're looking to explain the recent run up in rates as a factor of increa...
Wed, Dec 15 2010, 8:23 AM
The bond market had another bad day yesterday following a strong read on Retail Sales and an improved outlook from the small business sector. Treasur...
Wed, Dec 15 2010, 7:52 PM
Only a month ago, best execution 30 year fixed mortgage rates were holding between 4.25% and 4.75%. Heck 4.75% was available on Monday morning! But i...
Wed, Dec 15 2010, 5:04 PM
Lots of explanations out there. Not much of a consensus on the actual cause of this mess though. Everybody seems to be grinding a different axe or tak...
Wed, Dec 15 2010, 3:59 PM
The Mortgage Bankers Association reports that independent mortgage banks saw higher profits in the third quarter due primarily to increased secondary ...
Wed, Dec 15 2010, 3:01 PM
Whether your a stock or a bond, you've been selling off hard in the past few minutes. 10 year yields have skyrocketed right past 3.5 and currently si...
Wed, Dec 15 2010, 1:31 PM
The National Association of Home Builders (NAHB) today released it's Builder Confidence Index for December. The composite portion of the HMI remaine...
Tue, Dec 14 2010, 12:13 PM
HAMP will certainly not reach the goals Treasury established for it according to a report from the Congressional Oversight Panel, and in fact may spen...
Tue, Dec 14 2010, 11:57 AM
Wells Shuts Down NorCal Operations Site; CitiMortgage Reaching Out to Consumers; DU 8.2 Implemented; Feedback from the Trenches
Tue, Dec 14 2010, 11:27 AM
Rates starting rising after 830am data and they haven't really stopped rising since then. If you are floating, beware, lenders may reprice for the wor...
Tue, Dec 14 2010, 11:01 AM
In a paper developed for the Federal Reserve, an economist looks at the literature to determine the impact of retained risk on the performance and pri...
Tue, Dec 14 2010, 8:32 AM
Retail Sales show strong gains in seasonal consumer spending but larger sales volumes also reflect rising energy costs. On the surface this supports t...
Tue, Dec 14 2010, 8:28 AM
Benchmark interest rates are higher while equity futures are mixed Tuesday morning ahead of key retail sales data and the afternoon policy statement f...
Tue, Dec 14 2010, 6:14 PM
Bonds got killed, revived, and killed again numerous times today. All in all it was about a 20bp rise in YIELDS in the 10 yr which can be seen occurr...
Tue, Dec 14 2010, 2:15 PM
The FOMC Statement has been released. As expected there was no change in the Fed's tone or outlook. The December statement is essentially the same as ...
Tue, Dec 14 2010, 1:52 PM
This morning's data was not supportive for bonds. But the overnight session kicked things off in a bad direction even before that. What we've seen s...
Mon, Dec 13 2010, 12:05 PM
The Federal Reserve has updated their QEII asset purchasing schedule.
From December 13th to January 11th the New York Federal Reserve's trading de...
