Fri, Nov 5 2010, 12:19 PM
Loan pricing is getting beat up. MBS prices are moving to new intraday lows. Reprices for the Worse are possible. Suntrust already went worse.
Fri, Nov 5 2010, 9:54 AM
2nd Quarter Loan Production Stats; CoreLogic Earnings; Blackrock Jumbo Product; Prepays Print as Expected; Corporate Debt Explosion
Fri, Nov 5 2010, 8:31 AM
The October Employment Situation Report has been released. Nonfarm payrolls grew by 151,000, this was much better than calls for a +60,000 print. The...
Fri, Nov 5 2010, 8:19 AM
Benchmark interest rates made an aggressive move lower yesterday and tocks rallied to their highest levels since before the crash of Lehman Brothers, ...
Fri, Nov 5 2010, 3:39 PM
We've spent most of our time lately celebrating accommodative and expansionary policies that push mortgage rates lower. The problem with this perspec...
Fri, Nov 5 2010, 1:08 PM
Pending home sales retreated after two monthly gains, signaling an uneven recovery entering 2011 with some near-term disruptions from the foreclosure ...
Fri, Nov 5 2010, 1:03 PM
Kansas City Fed president Thomas Hoenig said Friday that the government should rethink its housing policies and subsidies and opt for a new path of re...
Thu, Nov 4 2010, 12:11 PM
I have some good news to share. Lenders aren't holding back bps. The majors are going for it. Loan pricing is QEII-tastic today....
Thu, Nov 4 2010, 10:58 AM
Freddie Mac Reports $2.5 Billion Q3 Loss; GMAC Increases Govie FICO LLPAs; Treasury Debt Issuance Ahead; Loan Shops Hiring
Thu, Nov 4 2010, 8:35 AM
Rate sheet influential MBS coupons are approaching record price highs. This should allow lenders to carefully inch back toward record low mortgage ra...
Thu, Nov 4 2010, 8:06 AM
The following Op-Ed was written by Fed Chairman Ben Bernanke and published by the Washington Post last night. Ben is clearly paving a new path in mone...
Thu, Nov 4 2010, 7:42 AM
Both benchmark interest rates and stock futures rallied in the overnight session. The 2s/10s yield curve is bull flattening but the long bond continue...
Thu, Nov 4 2010, 4:43 PM
Ok so the rally we enjoyed today was another step in the right direction. Our outlook seems to be playing out perfectly but we're not quite there yet ...
Thu, Nov 4 2010, 4:08 PM
Witnesses testifying before the Congressional Oversight Panel on TARP generally gave servicers a low grade for their response to the foreclosure proce...
Wed, Nov 3 2010, 12:05 PM
To be sure everybody is up to date on what we should be expecting, I've pulled a few more comments from Ben's Jackson Hole speech. The comments below ...
Wed, Nov 3 2010, 11:43 AM
We continue to see some of our clients still having loan purchase delays from investors. Part of the problem is the volume of refinances because of l...
Wed, Nov 3 2010, 11:02 AM
FinReg Reform and Basel III Compliance; Freddie Mac Cuts Ties to Florida Law Firm; Radian Posts Profit; QEII Time
Wed, Nov 3 2010, 8:59 AM
Mid-terms are done. The Reds took the House and the Blues maintained their stronghold in the Senate. The bond market will view this as a fiscal policy...
Wed, Nov 3 2010, 8:24 AM
Interest rates are rallying and U.S. equity futures are pointing slightly upwards following yesterday’s mid-term elections and ahead of the FOMC’s new...
Wed, Nov 3 2010, 7:29 PM
Remember our MND RateWatch motto? Play the range until the range plays you. Bernanke didn't play us and it doesn't seem like he intends to anytime soo...
Wed, Nov 3 2010, 3:08 PM
The FOMC has directed the Open Market desk to purchase an additional $600 billion of longer-term Treasury securities by the end of the second quarter ...
Wed, Nov 3 2010, 2:17 PM
To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee ...
Tue, Nov 2 2010, 12:38 PM
The Census Bureau has released its survey of Residential Vacancies and Homeownership for the third quarter of 2010.
Tue, Nov 2 2010, 10:16 AM
Minimal Regional Disparity in Mortgage Rates; Loan Buybacks Roll Downhill; CFPB Watchdog; LP Open Access Not So Open
Tue, Nov 2 2010, 9:00 AM
Well, I don't know why I came here tonight. I got the feeling that something ain't right. I'm so scared, in case I fall off my chair. And I'm wonde...
Tue, Nov 2 2010, 8:47 AM
Benchmark interest rates are lower and the yield curve is flatter on Tuesday morning as the Federal Reserve begins its two-day monetary policy meeting...
Tue, Nov 2 2010, 4:12 PM
At 2:15pm tomorrow, the Federal Open Market Committee (FOMC) will release their policy statement. At 2:15pm we find out if Quantitative Easing becomes...
Tue, Nov 2 2010, 2:29 PM
I am seeing some volatility in the basis. MBS valuations are moving in an originator friendly manner. Besides the long bond, which appears to be catch...
Mon, Nov 1 2010, 12:56 PM
If you've been riding the float boat, now is not the time to be be pulling your hair out in panic. Remain calm, nothing has changed, QEII is coming an...
Mon, Nov 1 2010, 9:31 AM
MERS & Commercial Loans; 82 FDIC "Actions"; GSEs Working with HFAs; Lender Updates
Mon, Nov 1 2010, 8:44 AM
Key Events in the Week Ahead Include: Mid-Term Elections, the FOMC Meeting, the Employment Situation Report, and Pending Home Sales.
Mon, Nov 1 2010, 3:59 PM
Mortgage rates had their little hissy fit and consumer borrowing costs moved to one month highs. But it was all part of the game. We anticipated this ...
Mon, Nov 1 2010, 1:53 PM
Plain and Simple: YES. If open market asset purchases push benchmark yields and mortgage rates lower, to the point where loan refinancing increases en...
Fri, Oct 29 2010, 11:53 AM
The plain and simple version of this story is title insurers are nervous about covering foreclosed properties without some sort of guarantee that they...
Fri, Oct 29 2010, 11:14 AM
Revisiting Originator Compensation Options; Mixed Bag of Bank Earnings, Updates from Mortgage Insurers; Lender Bulletins
Fri, Oct 29 2010, 8:30 AM
Plain and Simple: GDP data was on the screws. A few things stood out to me. Weakness in the housing market is VERY OBVIOUS....see the 29.1% decline in...
Fri, Oct 29 2010, 8:26 AM
Ahead of a deluge of data, domestic interest rates are improved. This follows the release of several discouraging reports on the international economy...
Fri, Oct 29 2010, 2:56 PM
The recent news coverage has returned many mortgage and MBS-related issues, both real and illusory, to prominence. The initial headlines that stemmed...
Thu, Oct 28 2010, 10:04 AM
We sniffed out the pain trade the day after $13 billion long bonds were met with poor demand. The pain trade is just about played out and benchmark in...
Thu, Oct 28 2010, 9:48 AM
Spike in FHA to FHA Refinances; Deutsche Bank on Home Prices; Compensation Conference Call; Wells Finds Flaws in Foreclosures
Thu, Oct 28 2010, 8:28 AM
The long end of the yield curve continued to weaken early in the overnight session but have since corrected back to yesterday's yield lows/price highs...
Thu, Oct 28 2010, 6:08 PM
The first step in revisiting record low mortgage rates was taken today. Selling in the long end of the curve stopped out, shorts were covered, prices ...
Thu, Oct 28 2010, 1:30 PM
lain and Simple: Overall, this 7-yr auction was very well received, and has pushed benchmark yields lower. It is definitely the best auction of the w...
Wed, Oct 27 2010, 12:32 PM
There is a great deal of nervousness regarding the outlook for interest rates as it relates to QEII. I expected this to happen.The bond market got ahe...
Wed, Oct 27 2010, 11:30 AM
"Economic growth in 2010 has been subdued and this trend will likely continue for most of 2011. Households remain cautious given the weak job market. ...
Wed, Oct 27 2010, 11:07 AM
Ginnie Mae Net Worth & Liquidity Standards; QEII Chatter; FHA Condo Recertifications; Home Owner Loan Corp.
Wed, Oct 27 2010, 8:29 AM
Ahead of a $35 billion 5-year Treasury note auction, the 5-year note is -9/32 at 99-23 yielding 1.306% (+5.3%) and the 10-year Treasury note is -17/32...
Wed, Oct 27 2010, 4:15 PM
Plain and Simple: The bond market got way head of itself about QEII. The sugar high has worn off. However because it is a "trader's market" and a trad...
Wed, Oct 27 2010, 3:35 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have jointly released NEW RESIDENTIAL SALES for September 2010.
Wed, Oct 27 2010, 2:46 PM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 22, 2010.
