Mon, Jul 26 2010, 4:42 PM
When asked "What Will Move Mortgage Rates in the Week Ahead?", our answer is NOTHING! That is unless the herd of investors who've parked their money i...
Fri, Jul 23 2010, 12:00 PM
These "stress tests" are just an exercise in improving confidence. The results are hypothetical and don't prove or disprove anything. If we were to ge...
Fri, Jul 23 2010, 10:54 AM
Investor Group Challenges Loan Servicers; Loss Mitigation Recommendations; What is "WillCap" and Who is "Talcott Franklin"?; EU Bank Stress Tests
Fri, Jul 23 2010, 9:03 AM
No significant data is released in the US, but the European Central Bank will release the results of bank stress tests. A survey of 376 investors and ...
Fri, Jul 23 2010, 3:34 PM
A mismatch between credit standards and the credit and collateral supplied by homeowners. Plus, the looming threat of a buyback always creates some so...
Fri, Jul 23 2010, 3:07 PM
I recently visited two direct lender shops for a warehouse FOCIS review study. These lenders generated leads from two different sources: Radio and In...
Thu, Jul 22 2010, 10:24 AM
Nothing has changed since last year, the tax credit just covered up structural weakness at the core of housing demand.
Thu, Jul 22 2010, 8:33 AM
Uncertainty is the only certainty and short-term tactical (non-committal) biases determine directionality. It's still a trader's world and we're still...
Thu, Jul 22 2010, 8:23 AM
Equity futures look set to erase yesterday’s afternoon losses.
Ninety minutes before the opening bell, Dow futures are soaring 101 points higher a...
Thu, Jul 22 2010, 5:44 PM
Even though rate sheet influential MBS coupons backed away from newly set (again) price levels as risk markets rallied today, rate sheets were 7.4bps ...
Thu, Jul 22 2010, 4:48 PM
Although mortgage-backed security prices moved lower today, lenders still improved consumer borrowing costs, extending the streak of irregular mortgag...
Thu, Jul 22 2010, 1:33 PM
Underwriters & Processors Included in SAFE?; Mortgage Volume vs. Profits; Reader Quotes on L.O Compensation; Movement Seen in Commercial Sector
Wed, Jul 21 2010, 12:43 PM
Rate sheets are about 40bps worse on average over the past three days and the FNCL 4.0 is 8 ticks of the high print seen on Friday. 8 ticks = 0.375% s...
Wed, Jul 21 2010, 10:45 AM
"As rates on 30- and 15-year fixed-rate mortgages declined to the lowest levels recorded in the survey, refinance activity increased last week. The r...
Wed, Jul 21 2010, 10:40 AM
Solid Earnings from Wells and MGIC; High Quality Loan Production; Labor Unions Threaten Big Banks; VA Underwriting Update
Wed, Jul 21 2010, 8:34 AM
The stock market is looking to build upon yesterday’s gain, which were partially driven by rumors that the Federal Reserve was considering the idea of...
Wed, Jul 21 2010, 7:05 PM
Because mortgage rates are near all time lows, more and more consumers (not as many as last year) are coming down off their fences and applying for a...
Wed, Jul 21 2010, 2:39 PM
The second edition of the administrations composite housing score card covers a number of indices on the state of the housing market. New this month ...
Tue, Jul 20 2010, 12:47 PM
Lower loan volume and a decreased pull-through rate led to higher production costs and reduced profits for independent mortgage companies and subsibia...
Tue, Jul 20 2010, 10:55 AM
Small Banks Behind on TARP Repayment; More Opinions on Mortgage Reform; Home Builders Outsold by REO Inventory Holders; MGIC & RMIC Updates
Tue, Jul 20 2010, 9:42 AM
FHA Commissioner David Stevens wrote to the industry today. He discusses over exuberant underwriting standards, lender accountability, and sustainable...
Tue, Jul 20 2010, 9:08 AM
Stock futures are lower and interest rates are rallying after several key earnings releases failed to impress the markets. June Housing Starts and Bui...
Tue, Jul 20 2010, 8:11 PM
Mortgage rates have not been following the directional guidance of MBS prices lately. The best mortgage rates have been holding in the 4.375 to 4.625%...
Tue, Jul 20 2010, 6:31 PM
After a huge improvement in May, multi-family housing starts led the overall starts number lower with a 26,000 unit decline. Single-family starts fell...
Tue, Jul 20 2010, 1:52 PM
Just as they did yesterday, stocks are making a push higher as we head into the close. While the "flight to safety" is losing some of its luster as ri...
Mon, Jul 19 2010, 12:19 PM
Upon first inspection loan pricing looked better this AM, then I got a few more rate sheets and realized that wasn't the case. Two of the major lender...
Mon, Jul 19 2010, 11:57 AM
Fannie & Freddie Better Together?; Plenty of Investor Updates; Broker Compensation Bill Opinion;
Mon, Jul 19 2010, 10:57 AM
Rate sheet influential MBS just fell from the session highs to the session lows. The September FNCL 4.0 is -0-06 at 101-10. The FNCL 4.5 is -0-03 at 1...
Mon, Jul 19 2010, 9:06 AM
The events calendar in the week ahead focuses on the health of housing, the Federal Reserve's semi-annual report to Congress, a deluge of earnings, an...
Mon, Jul 19 2010, 4:48 PM
This BIG PICTURE uncertainty favors floating interest rates on a 45 day time line, but you better be ready to deal with added amounts of chopatility....
Mon, Jul 19 2010, 4:15 PM
After several days of behaving as if no other market existed, mortgage rates finally snapped back to reality today. Total consumer borrowing costs mov...
Mon, Jul 19 2010, 3:19 PM
The July survey of builders conducted by the National Association of Home Builders found that its members are seeing few bright spots in the market no...
Mon, Jul 19 2010, 1:23 PM
Homelessness used to ebb and flow but now seems to always be with us. The focus has slowly changed from treating it as an emergency to a long term fo...
Mon, Jul 19 2010, 1:02 PM
Guidelines and procedures for participants in HUD's Neighborhood Stabilization Program to participate in FHA's First Look Program were published yeste...
Fri, Jul 16 2010, 12:43 PM
Originator Compensation: Yield Spread Already Removed from GFE; Goldman's Record Setting Fine; NMLS Update; MI Deductibilty; Bank Earnings
Fri, Jul 16 2010, 8:43 AM
Stock futures tanked after weaker than expected econ data, Treasuries are catching a FTQ bid and mortgages are playing follow the leader, albeit from...
Fri, Jul 16 2010, 8:02 PM
After much ado our political "leaders" have finally come to an agreement on the broadest regulatory overhaul since the Glass Steagal Act of 1933. By a...
Fri, Jul 16 2010, 3:22 PM
A well-qualified borrower, which is basically an applicant whose credit profile and loan terms do not trigger risk-based pricing adjustments (LLPAs),...
Fri, Jul 16 2010, 1:40 PM
When a bank regulator makes a visit, they focus on various types of risk associated with operating a mortgage bank. They are interested in steps mana...
Fri, Jul 16 2010, 1:25 PM
The House of Representatives has passed a 5-year authorization of the National Flood Insurance Program. A similar measure continues to be stalled in ...
Thu, Jul 15 2010, 12:46 PM
Production MBS coupons are trading near session highs and lenders are repricing for the better.
Thu, Jul 15 2010, 11:20 AM
FHFA Opposes PACE Program, California Files Lawsuit; Financial Reform Vote; New Housing Counselor Handbook; FDIC Selling Distressed Loans
Thu, Jul 15 2010, 8:48 AM
From a fundamental perspective, risk markets have taken this bearishly skewed data into consideration, but that's about as far as we can go with funda...
Thu, Jul 15 2010, 7:42 AM
Stocks have gained more than 7% over the past five trading days, but yesterday the Dow inched up just 0.04% while the S&P 500 fell 0.02%. After a mixe...
Thu, Jul 15 2010, 6:42 PM
Rate sheet influential MBS got their keister kicked by Treasuries today but price levels rose enough to give lenders a chance to reprice for the bett...
Thu, Jul 15 2010, 5:49 PM
The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank reposs...
Wed, Jul 14 2010, 10:33 AM
Fixing a consumer's credit is not an easy process, nor is it quick. Depending on the make-up of defaults, it can take years to rebuild a credit profil...
Wed, Jul 14 2010, 10:31 AM
Mortgage Investor Gossip; FICO Scores and Loan Production; "Hardest Hit" State Housing Programs; FHA Mini-Eagles;
Wed, Jul 14 2010, 8:26 AM
Stocks are once set to open higher after Intel beat estimates with sales jumping by more than a third in the second quarter. The computer chip produce...
Wed, Jul 14 2010, 4:35 PM
Call me crazy but I think we've been witnessing a lender price war in the primary mortgage market.
