Tue, Oct 19 2010, 2:01 PM
One shop I recently visited staffs their entire operations department with 100% independent contractors. After 3 years and about 150 shops, this is th...
Mon, Oct 18 2010, 11:45 AM
The long end of the yield curve is catching a corrective bid and "rate sheet influential" MBS coupons are tagging along for the ride. Rebate is a litt...
Mon, Oct 18 2010, 9:37 AM
GSEs Release HVCC Updates; Broker Compensation & YSP Clarification; 15 Year Prison Sentence for Mortgage Fraud
Mon, Oct 18 2010, 8:56 AM
A slow macroeconomic data calendar in the week ahead includes industrial production today and housing starts Tuesday, but more important may be the he...
Mon, Oct 18 2010, 4:07 PM
Last Thursday I posed the question: Are We Too Complacent with Record Low Mortgage Rates? On the surface my intention behind this query was to draw yo...
Mon, Oct 18 2010, 2:37 PM
The monthly NAHB/Wells Fargo survey of home builder perceptions improved for the first time in five months. Builders are seeing some increased buyer ...
Mon, Oct 18 2010, 1:09 PM
It's very clear that the Obama Administration doesn't support a 50 state foreclosure moratorium, but I haven't seen them offer up much in terms of a s...
Fri, Oct 15 2010, 11:50 AM
The pain trade is playing out in the long end of the yield curve but "rate sheet influential" MBS coupons are displaying resiliency.
Fri, Oct 15 2010, 11:49 AM
Our industry is cyclical and we need to be reminded of the need for a "Plan B" quite often. When things are really good, chances are they will turn u...
Fri, Oct 15 2010, 11:20 AM
Early Pay-Off Penalties Hit Originator Wallets; Foreclosure Uncertainty a Real Issue; Wells Wholesale Accepting BoA Appraisals; Reasons for Buybacks
Fri, Oct 15 2010, 8:41 AM
Ben was clear that QEII is coming, but was very cautious when discussing possible policy approaches in relation to the two headed mandate monster. The...
Fri, Oct 15 2010, 7:41 AM
If another QE program is to be effective, the Fed will need to expend much energy managing the market's rational expectations. This means the FOMC's c...
Fri, Oct 15 2010, 4:23 PM
Ok so record low mortgage rates stayed around for about a week. But they're gone now. I could go through all the economic data and attempt to tie a ra...
Fri, Oct 15 2010, 3:08 PM
Federal regulators have expanded the list of Community Reinvestment Act approved activities to include educational loans to low-income students and jo...
Fri, Oct 15 2010, 2:16 PM
Benchmark 10s are at session price lows/yield highs, which has dragged "rate sheet influential" MBS coupon prices even lower.
If you have not recei...
Thu, Oct 14 2010, 12:15 PM
Benchmark 10s are just about back to their session high yield as Treasury prepares to release the results of their $13 billion long bond fundraiser. T...
Thu, Oct 14 2010, 11:02 AM
FDIC Chairperson Sheila Bair told a Washington audience on Tuesday that servicer incentives need to be reformed to encourage loan modifications rather...
Thu, Oct 14 2010, 10:47 AM
"Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog of distressed properties ...
Thu, Oct 14 2010, 10:31 AM
Top 10 Loan Servicers; Confusion on JP Morgan's MERS Relationship; Money Flowing into Mortgage Banking Deals
Thu, Oct 14 2010, 8:59 AM
Rate sheet influential MBS prices are basically flat but likely heading lower ahead of the bond auction (IMO). Reprices for the better were not wides...
Thu, Oct 14 2010, 8:28 AM
Benchmark interest rates traded in a tight range overnight near yesterday's yield lows while equity futures ticked sideways near yesterday's highs. Cu...
Thu, Oct 14 2010, 7:04 PM
Consumer closing have been slowly creeping higher though. If this trend keeps up, by next Friday everybody will be asking "Hey. Where did 3.875% go? 4...
Thu, Oct 14 2010, 2:07 PM
Lock desks have plenty of pipeline coverage after selling forward about $5.5 billion in loan supply over the past two days. That left dealers long yes...
Wed, Oct 13 2010, 12:16 PM
The FHA has requested comment on regulatory changes that will strengthen its ability to force lenders to indemnify or reimburse the FHA for claims ag...
Wed, Oct 13 2010, 10:45 AM
"After five weeks of steadily declining rates to yet another new low, borrowers who had been on the fence jumped off, which factored into refinance ac...
Wed, Oct 13 2010, 9:58 AM
White House Against Nationwide Foreclosure Moratorium; Corporate Cash Surplus; JP Morgan Chase Earnings; 3.0s Trade
Wed, Oct 13 2010, 8:42 AM
The yield curve is steeper and benchmark interest rates are higher ahead of a $21 billion 10-year Treasury note auction. The 2s/10s curve is 3bps stee...
Wed, Oct 13 2010, 5:12 PM
Consumer borrowing costs were what I would consider "noticeably more expensive" this morning when lenders first released rate sheets. While home loan ...
Wed, Oct 13 2010, 3:33 PM
I called attention to the phrase "the servicer must work with counsel". I am not sure if this guidance was intended to be a solution or not. If it ...
Wed, Oct 13 2010, 2:51 PM
"Rate sheet influential" TSYs have found a bid after running into a key technical support level. To the delight of the dealer community, flows have sh...
Wed, Oct 13 2010, 1:01 PM
It is widely anticipated that the Fed will announce QEII in the not so distant future, which should push bond prices higher and lead yields lower. Fro...
Tue, Oct 12 2010, 11:34 AM
One billion dollars in emergency funds will soon be available to help homeowners "bridge" their mortgage payments while they recover from the impact o...
Tue, Oct 12 2010, 9:37 AM
The December FNCL 3.5 is trading +0-08 at 101-03. Trading flows are thin ahead of the 3 year note auction and FOMC minutes but rates are recovering fr...
Tue, Oct 12 2010, 9:26 AM
Originator Loan Buybacks Still an Issue; Input on Lender Turn Times; Goldman Sachs Freezes Foreclosures; eNotes; Investor Updates
Tue, Oct 12 2010, 8:55 AM
The holiday shortened week ahead is filled with data, Federal Reserve speakers, debt auctions, and the beginning of earnings season
Tue, Oct 12 2010, 5:39 PM
After a slow overnight session that left rates better bid heading into the domestic trading day, benchmark TSY yields and rate sheet influential MBS p...
Tue, Oct 12 2010, 5:13 PM
Mortgage rates improved to new record lows last week, rallying in five straight sessions before finally reversing course following the release of the ...
Tue, Oct 12 2010, 2:03 PM
"Although participants considered it unlikely that the economy would reenter a recession, many expressed concern that output growth, and the associate...
Tue, Oct 12 2010, 1:08 PM
Treasury has just auctioned $32 billion 3-year notes. Even though the market did its best to let the issue cheapen, record low yields and a generally ...
Fri, Oct 8 2010, 11:51 AM
Industry Feedback on Foreclosure Debacle; Rate Sheet Rebate vs. Processing Turn Times; Best Practices Lender Guide; Acceptable Income Types
Fri, Oct 8 2010, 11:15 AM
Bank of America, the largest servicer of mortgage loans, has announced it will halt foreclosure sales in all 50 states. While news flashes on trading ...
Fri, Oct 8 2010, 10:19 AM
I have waited and waited and waited to do this but I think I can safely award the 3.5 MBS with the official production coupon designation. YAY! 30 ye...
Fri, Oct 8 2010, 8:40 AM
QUICK RECAP: NFP: -95K vs. call for UNCH vs. Aug -57K. Private Sector +64K jobs vs. call for +75. vs. +93K in August. Government job cuts total 159K v...
Fri, Oct 8 2010, 7:58 AM
Economists polled by Reuters currently believe the report will show the labor market was flat last month after 54k jobs were lost in August. Private e...
Fri, Oct 8 2010, 3:37 PM
If you haven't gotten a reprice for the worse yet, you will be soon. If you have gotten a reprice for the worse, I don't rule out another round of reb...
Fri, Oct 8 2010, 1:00 PM
The primary mortgage market just got more competitive! Lenders are begging consumers to lock in their loans!!!
Thu, Oct 7 2010, 12:59 PM
Can it get any better than this? Sure. Not all lenders are offering 3.875% pricing yet, some desks need to catch up. If we hold at record MBS price le...
Thu, Oct 7 2010, 12:40 PM
Options ARM's - The Gift that Keeps on Giving; Top Lenders by Volume; Investor Angle on Foreclosure Issues
Thu, Oct 7 2010, 8:49 AM
If the data doesn't match expectations, 10s would move into the low 2.30s% and rebate would improve a few more bps while MBS would lag a continued ral...
Thu, Oct 7 2010, 8:26 AM
Benchmark interest rates are marginally higher and equity futures are mixed following an awful report Wednesday on private employment from Automatic D...
