Fri, Aug 27 2010, 10:04 AM
FED PREPARED TO PROVIDE ADDITIONAL STIMULUS IF NECESSARY, ESPECIALLY IF OUTLOOK WEAKENS SIGNIFICANTLY
Fri, Aug 27 2010, 9:50 AM
Talk from the Trenches: Loan Pricing Margins Getting Crushed as Rally Persists; "Bad Loan Biz" Doing Well; FHA Steamline Product; Buybacks and Credit ...
Fri, Aug 27 2010, 7:24 AM
The Commerce Department is due to release its second estimate of GDP at 8:30 a.m. The GDP data follows a series of disappointing reports on the housi...
Fri, Aug 27 2010, 4:22 PM
A brief market wrap and a few observations heading into the weekend...
Fri, Aug 27 2010, 1:12 PM
While delinquency rates overall showed improvement, the MBA National Delinquency Survey showed a troubling increase in the number of home mortgages th...
Thu, Aug 26 2010, 10:48 AM
If you've been reading along over the past week you know I've been calling for the recent interest rate rally to reverse course. Poor housing data pr...
Thu, Aug 26 2010, 10:23 AM
The President of the Chicago Federal Reserve told an audience on Tuesday that financial literacy played a role in the mortgage meltdown, but suggested...
Thu, Aug 26 2010, 9:55 AM
HAMP's Political Intentions;More Rural Housing Confusion; Investors Shy Away From Property Flipping; Credit Overlays
Thu, Aug 26 2010, 8:06 AM
Rate sheet influential MBS coupons are following benchmark Treasury prices higher ahead of Weekly Jobless Claims data at 830am. The October delivery F...
Thu, Aug 26 2010, 4:28 PM
Lender rate sheets were slightly worse than yesterday but nothing monumental. The best par 30 year fixed -conventional, FHA and VA- mortgage rate re...
Thu, Aug 26 2010, 1:13 PM
This was the best auction of the week. Indirect bidders were the primary source of auction demand. Indicating overseas real money buyers are still cha...
Wed, Aug 25 2010, 10:19 AM
Three months after the home buyer tax credit expired, housing is stagnant. This should come as no surprise to folks working in the industry. Most pros...
Wed, Aug 25 2010, 10:02 AM
HAMP Fallout Quadruples; FHA Condo Recertification Requirements; Rapid Refinance as Means to Distribute Money Around the Economy;
Wed, Aug 25 2010, 9:31 AM
Anyone originating loans through a call center should either request an audit by the DOL or seek legal advice from a labor attorney. It’s better to b...
Wed, Aug 25 2010, 7:53 AM
Good Morning. Benchmark interest rates held onto yesterday's improvements in the overnight trading session as global equity markets extended their los...
Wed, Aug 25 2010, 6:51 PM
Much like yesterday, mortgage rates rallied early this morning following weak housing data. Much like yesterday, mortgage rates came under pressure in...
Wed, Aug 25 2010, 4:29 PM
Single Family Housing Guaranteed Loan Program Funding Notice
Wed, Aug 25 2010, 2:43 PM
"The volume of refi applications last week was up 26% over their level four weeks ago. Mortgage rates dropped to their lowest level in the survey, go...
Wed, Aug 25 2010, 2:01 PM
FNCL 4.0s just fell from new record high prices, led by profit taking in the long end of the yield curve and localized weakness in the belly. With "ra...
Tue, Aug 24 2010, 10:40 AM
Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the N...
Tue, Aug 24 2010, 10:00 AM
US JULY EXISTING HOME SALES 3.83 MLN UNIT ANNUAL RATE (CONS 4.70 MLN) VS JUNE 5.26 MLN (PRV 5.37)-NAR
Tue, Aug 24 2010, 9:51 AM
Homeownership: Deed of Trust vs. Mortgage; The Definition of "Loan Originator"; New FHA Jumbo FICO Floors; HOA Certs; Revised DTI Regs
Tue, Aug 24 2010, 8:35 AM
Stock futures are weaker and benchmark interest rates are experiencing a flight to safety ahead of what is expected to be another foul read on the hea...
Tue, Aug 24 2010, 5:44 PM
Although agency MBS greatly lagged benchmark Treasuries today, price levels rose enough for lenders to improve rebate (so they could work on filling t...
Tue, Aug 24 2010, 5:13 PM
The bond market must have seen this coming because interest rates were already in full on rally mode before the data was released. Although the 10 yea...
Mon, Aug 23 2010, 12:15 PM
Stocks have given back early session gains and "rate sheet influential" MBS coupon prices just hit new session highs. Loan pricing is 16.4bps worse on...
Mon, Aug 23 2010, 11:38 AM
FHA Insures High Cost Multi-Family Housing Development; Taylor Bean Buyouts Impact Prepay Speeds; Non-Agency Delinquency Rates; REO and Foreclosure In...
Mon, Aug 23 2010, 10:27 AM
Plain and Simple: it's any ones guess what mortgage rates do on a day over day basis, investing outlooks are extremely non-committal and recent behav...
Mon, Aug 23 2010, 8:46 AM
The data calendar is semi-busy in the week ahead but gets off to a slow start. Existing Home Sales, Durable Goods Orders, and New Home Sales highlight...
Mon, Aug 23 2010, 4:11 PM
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury have released the August edition of the Obama Admin...
Fri, Aug 20 2010, 11:19 AM
Two great reports from the NY Fed and the Census Bureau; rates sure are good and may continue that way
Fri, Aug 20 2010, 8:15 AM
The October FNCL 4.0 is currently +0-01 at 102-18. 4.0s are +106bps off the 10yr note, wider to start the day. I expect to see profit taking in TSYs a...
Fri, Aug 20 2010, 4:34 PM
From 10,000 feet, the story of the week was "Mortgage Rates Rebound from Losing Streak", but when you look closer I think the bigger story was "Mortg...
Fri, Aug 20 2010, 2:58 PM
The Federal Home Finance Agency is proposing to restrict the GSEs and the FHLBanks from investing in or accepting as collateral mortgages on propertie...
Fri, Aug 20 2010, 1:03 PM
We have yet to perform a thorough analysis on loan pricing this week. Now seems like a good time...
Thu, Aug 19 2010, 12:54 PM
Consumer indebtedness as well as consumer delinquencies improved during the second quarter of the year according to a Federal Reserve Bank Survey. Wh...
Thu, Aug 19 2010, 10:32 AM
Econ data surprised to the downside, stocks are selling through support levels, Treasury longs are reaffirming a "buy on the dips" bias, and rate shee...
Thu, Aug 19 2010, 10:23 AM
Fannie Mae 125% CLTV Product; Feedback on "All Cash" Real Estate Purchases; Updates from Flagstar, Wells, GMAC, Chase, FAMC
Thu, Aug 19 2010, 7:59 AM
U.S. Treasuries traded sideways early in the overnight session but cheapened after the German Bundesbank raised their 2010 growth outlook from +1.9% ...
Thu, Aug 19 2010, 5:51 PM
After reprices, rate sheets are improved vs. offers yesterday. The best execution par interest rate remains in the 4.25% to 4.50% range for well quali...
Thu, Aug 19 2010, 2:34 PM
My most recent post talked about some of the bad habits and practices we’ve uncovered during our FOCIS and FOCIS-plus reviews of mortgage bankers. N...
Wed, Aug 18 2010, 11:40 AM
Stocks are super cheap vs. bonds, we get auction supply terms tomorrow from the Treasury (2s, 5s, 7s), and the econ calendar is thin for the rest of t...
Wed, Aug 18 2010, 10:33 AM
Interesting...the MBA says mortgage rates actually rose last week. I have to disagree with that, mortgage rates did improve last week, but I understan...
Wed, Aug 18 2010, 10:16 AM
Respondents to the Federal Reserves Senior Loan Officer Survey for July indicated that banks are slightly easily credit standards, terms, and conditio...
Wed, Aug 18 2010, 9:54 AM
Worthwhile YSP & HARP chatter; SAFE Act training; continued GFE errors
Wed, Aug 18 2010, 8:40 AM
Markets are relatively calm this morning after equities climbed more than 1% Tuesday. One hour before the opening bell, Dow futures are trading 4 poin...
Wed, Aug 18 2010, 3:08 PM
Spurred on by a dramatic decline in benchmark debt yields, mortgage rates touched new lows last week. Actually I don't know if I should say mortgage...
Tue, Aug 17 2010, 11:58 AM
Equity markets are rallying out of oversold territory and benchmark interest rates are retracing gains that forced the long end of the curve even dee...
Tue, Aug 17 2010, 11:13 AM
Reg Z Rules and Proposals Galore from the Fed; Closing Costs Higher; Freddie Gives Clients "Greater Flexibility"; Fannie Discusses Hardships
Tue, Aug 17 2010, 8:56 AM
The U.S. Census Bureau and the Department of Housing and Urban Development have released New Residential Construction statistics for July 2010. Both p...
