Fri, Jun 11 2010, 8:24 AM
Ahead of what should be a busy day in the markets, equity futures are looking to build upon the broad-based surge on Thursday. Ninety minutes before t...
Fri, Jun 11 2010, 5:57 PM
The market is still acting non-committal, the biggest difference is open interest is way lower in both stock futures and 10yr TSY futures. One of thes...
Fri, Jun 11 2010, 5:53 PM
While it will cost a borrower almost 50 basis more at the closing table (0.50% of the loan amount), 4.50% is still available for most WELL-QUALIFIED b...
Thu, Jun 10 2010, 12:39 PM
The good news is it seems like the worst is behind us in terms of new defaults. Plus the modest decline in newly scheduled auctions helps out housing ...
Thu, Jun 10 2010, 9:36 AM
MBS prices are backing away from all time highs as stocks rally. The FN 4.0 is -0-11 at 99-31. The FN 4.5 is -0-07 at 102-26. The GN 4.0 is -0-11 at ...
Thu, Jun 10 2010, 8:30 AM
Stocks are likely to open sharply higher this morning as a strong global session, China excluded, leads the way into positive territory. Ninety minute...
Thu, Jun 10 2010, 6:22 PM
The House of Representatives has just approved by a 406-4 vote the Federal Housing Administration Reform Act, a law designed to shore up the finances ...
Thu, Jun 10 2010, 5:18 PM
Stocks rallied all day long before closing at the highs of the session. This resulted in another investor exodus from risk averse assets which sent be...
Thu, Jun 10 2010, 3:49 PM
Have you ever wondered why longer term locks are more expensive than short term locks?
Thu, Jun 10 2010, 3:42 PM
I noticed a short article this week in the Wall Street Journal that reported on the $108 million settlement between Countrywide Financial and the Fede...
Thu, Jun 10 2010, 3:19 PM
More On Mortgage Insurance; Non-Agency Lending Thaw; FHA Reform Act Amendments; EPO Policies; Credit Rating Agencies
Thu, Jun 10 2010, 1:00 PM
Indirect buyers are responsible for me being able to say this auction went well. They were the aggressive bidders. After the auction Benchmark TSYs yi...
Wed, Jun 9 2010, 11:39 AM
Purchase and refinance applications dropped this week, even after an adjustment for the Memorial Day holiday. Purchase applications are now 35 percen...
Wed, Jun 9 2010, 11:29 AM
FDIC Chairperson Sheila Barr told a group of non-profit housing developers Monday that the government needs to temper its focus on home ownership to a...
Wed, Jun 9 2010, 11:12 AM
Private Mortgage Insurers Make Push for FHA Business; GSEs Roll Out Uniform Data Program Details; Bulletins From BoA and Wells
Wed, Jun 9 2010, 8:58 AM
We had what I hope was an enlightening conversation yesterday afternoon about the status of loan pipelines and the recent improvement in loan pricing....
Wed, Jun 9 2010, 8:16 AM
Global markets were mixed overnight but domestic stock futures are higher as investors wait for the latest economic assessment from Federal Reserve ch...
Wed, Jun 9 2010, 5:14 PM
FN4.5: +0-06 at 103-02. GN4.5: +0-06 at 103-22. Secondary Market Current Coupon: -1.4bps to 3.98%. CC Yield Spreads:+80.2/10yTSY. +70.5/10yIRS. Went O...
Wed, Jun 9 2010, 4:58 PM
Mortgage rates moved slightly higher this morning as stocks rallied and MBS prices ticked lower. About the time the 10-year note auction results were ...
Wed, Jun 9 2010, 3:47 PM
The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF...
Wed, Jun 9 2010, 1:18 PM
Auction demand was strong but only at higher yields and lower prices. Primary dealers took down more inventory than usual to offset a decline in direc...
Tue, Jun 8 2010, 12:06 PM
Fitch Ratings Performance Metrics for May show continued declines in delinquency rates for both subprime and Alt-A RMBS, but a slight increase in the ...
Tue, Jun 8 2010, 11:32 AM
Checking In On Mortgage Reform Legislation; Mark-To-Market Loan Hedging Concerns; FTC & Countrywide; Subprime Loans The Talk Of The Town?
Tue, Jun 8 2010, 8:50 AM
Markets are range bound at the moment but teetering on a broader technical breakdown. It's still all about the stock lever and the Euro. If the Euro f...
Tue, Jun 8 2010, 8:26 AM
No U.S. data will hit the markets this morning. Some of the positive sentiment stems from comments from Federal Reserve chairman Ben Bernanke, who las...
Tue, Jun 8 2010, 5:08 PM
The par 30 year conventional rate mortgage remains in the 4.50% to 4.75% range for well qualified consumers. Although it it's very tempting to float y...
Tue, Jun 8 2010, 2:09 PM
Depending on fallout, your secondary marketing department is probably underwater on their loan pricing after the recent run-up in MBS prices. You tell...
Mon, Jun 7 2010, 12:13 PM
GNMA Single Loan Securitization; GFE Guidance; Long Recovery For Housing; FDIC & CRA News; More Originator Jobs
Mon, Jun 7 2010, 8:40 AM
When do U.S. stocks and bonds disconnect from the directional movements of the Euro? When does the opportunity cost of risk averse investing outweigh ...
Mon, Jun 7 2010, 8:34 AM
Markets are Friday sold off on a weak employment report. Prices worsened throughout the day on fears that Hungary ― which announced a larger-than-expe...
Mon, Jun 7 2010, 6:18 PM
Although S&Ps still haven't broken 1050 support, it's hard not to sit back and watch how far this interest rate rally goes. The million dollar MBS que...
Mon, Jun 7 2010, 5:34 PM
It was a quiet trading session for most of the day in financial markets. Stocks rallied early in the day and lenders offered slightly worse mortgage r...
Mon, Jun 7 2010, 3:21 PM
The perfect mortgage company allows a loan officer to focus 100% of their attention on their job: WRITING LOANS! There are a handful of regional and...
Fri, Jun 4 2010, 12:04 PM
The S&P has broken 1080 support and benchmark 10s are testing 3.20 resistance. This has helped MBS prices extend their rally.
Fri, Jun 4 2010, 10:49 AM
Most Profitable Bank Owned Origination Channels; FHA Net Worth Requirements; Manufactured Home Lending; HomePath News; More On Flood Insurance
Fri, Jun 4 2010, 8:30 AM
MAY NONFARM PAYROLLS +431,000 (CONSENSUS +513,000) VS APRIL UNREVISED AT +290,000
MAY PRIVATE SECTOR JOBS +41,000, GOVT 390,000, CENSUS JOBS +411,000...
Fri, Jun 4 2010, 8:10 AM
Investors are timid ahead of the U.S. employment report for May. The numbers are supposed to be broadly positive, but an hour before the report, equit...
Fri, Jun 4 2010, 5:57 PM
If the Euro is doomed to trade toward parity, does that mean the U.S. is destined for a double dip? With housing teetering on a ledge and 6.7 million...
Fri, Jun 4 2010, 5:37 PM
Mortgage rates held steady near the lowest levels of the year yesterday. That was a dominant theme this week. Regardless of volatility in the stock an...
Fri, Jun 4 2010, 1:09 PM
FHA Commissioner David Stevens has restated some of the recent changes the agency has made to condominium approvals, net worth requirements for FHA le...
Thu, Jun 3 2010, 11:42 AM
Warehouse Line Issues Still Prevalent; Another Lender Exits Wholesale Business; BoA Suspends USDA Commitments & Updates Flood Insurance Guidance
Thu, Jun 3 2010, 8:48 AM
Traders have closed longs and covered shorts and are now ready to react to whatever news and information is offered in the next 24 hours. The big ques...
Thu, Jun 3 2010, 8:08 AM
Stock futures this morning look to continue the broad rally which pushed the Dow up by 225 points yesterday.
More than two hours before the openin...
Thu, Jun 3 2010, 4:41 PM
I know many of you are probably sitting on a few loans trying to decide if you should float into the 15 day window in hopes of another rally and bette...
Thu, Jun 3 2010, 1:28 PM
Auction sizes continue to trend lower. Less debt supply is always a great thing for the market's state of mind. However we may be battling greater for...
Thu, Jun 3 2010, 1:15 PM
A month ago I visited a client in Las Vegas, the epicenter of the mortgage and real estate malaise. During my interviews, the owner of the operation i...
Wed, Jun 2 2010, 10:30 AM
April data is fine and dandy but it was expected that housing demand would improve as homebuyers rushed to take advantage of the tax credit before it ...
Wed, Jun 2 2010, 8:34 AM
While there were a few news headlines to account for in valuations today, price action and trading flows really didn't teach us anything new about the...
Wed, Jun 2 2010, 8:19 AM
Ninety minutes before the opening bell, Dow futures are up 47 points to 10,066 and S&P 500 futures are up 5.25 points to 1,074.75. The 2-year Treasury...
Wed, Jun 2 2010, 7:39 PM
Stocks closed near three day highs and benchmark TSY yields went out...near three day highs too! We did manage to make it through the day without repr...
