Wed, Jun 2 2010, 5:42 PM
Like yesterday, I continue to favor locking as mortgage rates are holding steady near historically low levels. If you wish to float in hopes of rates...
Wed, Jun 2 2010, 3:14 PM
With another week of historically low mortgage rates, the trend from the prior three weeks continued, as refinance applications increased while purcha...
Wed, Jun 2 2010, 3:06 PM
A Federal Reserve economist told an audience recently that housing finance reform, driven by the necessity of resolving the Freddie/Fannie situation, ...
Wed, Jun 2 2010, 1:44 PM
The on again, off again, on again appetite for risk has led the benchmark 10 yr TSY note yield 4.8bps higher all the way up to the 3.31% pivot. Conseq...
Wed, Jun 2 2010, 1:13 PM
The Federal Reserve, The Federal Deposit Insurance Corporation, The Office of Thrift Supervision, and The Office of Comptroller of the Currency have r...
Wed, Jun 2 2010, 1:01 PM
Flood Insurance Update; USDA Conditional Commitments; Originator Jobs; News From Fannie & Freddie, Citi, SunTrust, Guild, Mountain West, USB
Tue, Jun 1 2010, 11:23 AM
Total construction spending rose for the second straight month in April and recorded the best monthly improvement seen since August 2000, according to...
Tue, Jun 1 2010, 11:00 AM
The "Never-Ending" Mortgage Program From ING; Are Home Loans Now Worthless?; Bank Closures; Barclays To Sell Servicing Unit
Tue, Jun 1 2010, 8:23 AM
The WEEK AHEAD is busy with the release of NonFarm Payrolls on Friday (The Official Employment Report) headlining the schedule. Over the last month, d...
Tue, Jun 1 2010, 8:10 AM
The Week Ahead: ISM Manufacturing Index, Construction Spending, Pending Home Sales Index, ADP Employment Report, Initial Jobless Claims, Productivity ...
Tue, Jun 1 2010, 6:01 PM
Thanks to a lack of liquidity in the 4.0 TBA MBS market, securitizing 4.5 and 5.0 MBS is a lender's best execution option (how do you hedge 4.0s right...
Tue, Jun 1 2010, 5:14 PM
Data provided in a report by Lender Processing Services shows that delinquency rates overall are improving but those loans termed seriously delinquent...
Tue, Jun 1 2010, 4:56 PM
It was a very volatile day in financial markets. Stocks moved lower then higher then lower again. This led benchmark Treasuries on a roller coaster ri...
Tue, Jun 1 2010, 3:37 PM
The MBA recently published a comprehensive study on the risk management practices of the mortgage industry that ultimately led to themeltdown. The s...
Tue, Jun 1 2010, 1:54 PM
It's been a choppy, back and forth, up and down trading session with no clear bias in motion. Rate sheet influential MBS have performed admirably as T...
Fri, May 28 2010, 10:46 AM
USDA Issuing Conditional Loan Approvals Again; MBA Studies Housing and Mortgage Market Collapse; Jumbo Loan Pricing; Scratch and Dent Desk
Fri, May 28 2010, 9:42 AM
It is still unclear whether the stock market rally we witnessed yesterday was simply a short term correction in the context of a broader downtrend or ...
Fri, May 28 2010, 2:46 PM
"For these men are lately drawn from the ways of peace. They fight not for the lust of conquest. They fight to end conquest. They fight to liberate. T...
Thu, May 27 2010, 12:54 PM
HUD Secretary Shaun Donovan presented the details of a new rental assistance program to members of Congress on Tuesday. The program is part of the Pr...
Thu, May 27 2010, 12:28 PM
New Bond Rating Agency With a Twist; Jumbo Loan Buyers; Banks Selling Distressed Debt; Financial Reform Update;
Thu, May 27 2010, 11:11 AM
Mortgages are experiencing some localized weakness thanks to a modest pick up in originator selling (5.0s) and servicer duration dumping. The FNCL 4....
Thu, May 27 2010, 8:21 AM
FNCL 45 -11 at 101-31. Current Coupon:+7.5bps at 4.132%. MBS Yield Spreads Tighter In Busy Flows. 10s: +11.5bps at 3.307%. 2s/10s: +8 at 245bps. S&Ps:...
Thu, May 27 2010, 8:10 AM
Equity markets dropped at the final hour yesterday when news reports indicated that China was reluctant to buy European debt. This morning the reverse...
Thu, May 27 2010, 4:47 PM
The violent spike in rates we witnessed today will force market participants to re-evaluate their strategic and tactical biases as bullish interest ra...
Thu, May 27 2010, 4:42 PM
Even though economic data was WORSE THAN EXPECTED this morning, which usually benefits the fixed income sector and mortgages, interest rates continue...
Thu, May 27 2010, 3:56 PM
As with a conventional mortgage, there are costs associated with a reverse mortgage. While perceived as high, once understood you’ll see the reverse ...
Thu, May 27 2010, 3:27 PM
The Federal Home Finance Agency is opening a 45 day public comment period on new rules to establish a framework for setting Federal Home Bank Loan hou...
Thu, May 27 2010, 1:09 PM
Average auction. Demand was there but at higher yields. We're lucky stocks weren't selling today because this issuance would have gone worse if yields...
Wed, May 26 2010, 11:55 AM
Bank foreclosure activity is putting more distressed inventory on the market and making it harder for appraisers to justify their choice of comps. It'...
Wed, May 26 2010, 11:50 AM
Perspective on Fannie & Freddie's UMDP; Flood Insurance Expiration; Fed's Credit Card Website; More Lender Updates!
Wed, May 26 2010, 10:15 AM
U.S. equities rallied into the close yesterday. This momentum extended into the overnight session all the way into this morning. A WAY BETTER THAN EXP...
Wed, May 26 2010, 8:29 AM
With the OECD upgrading its global outlook for 2010 and 2011 growth, investor confidence is back on track this morning. Equities are trading much high...
Wed, May 26 2010, 5:45 PM
Rate sheet influential MBS valuations had another volatile day thanks to some violent swings in the stock market. We did however make it through norma...
Wed, May 26 2010, 5:32 PM
The stock market rally that began yesterday afternoon extended into overseas trading last night and into this morning's trading session. Optimism in e...
Wed, May 26 2010, 2:33 PM
FHFA Director Ed DeMarco said that the study found that Fannie Mae and Freddie Mac remain "critical supervisory concerns." While the two government s...
Wed, May 26 2010, 2:05 PM
Our fate rests mostly in the stock lever. If the S&P breaks 1090 and 10s push through 3.25% support...reprices for the worse are likely. Some smaller ...
Tue, May 25 2010, 10:44 AM
I recently attended a Board of Directors meeting of a mid-size commercial bank that owns a mortgage banking operation. I was invited to make a presen...
Tue, May 25 2010, 10:28 AM
The Federal Home Loan Finance Agency has announced plans for new data standards and an electronic portal for uniform collection and submission of appr...
Tue, May 25 2010, 10:14 AM
Loan Quality Initiative Reminder; Pricing Discrepancies Explained; More Mortgage Jobs; Primer On Case-Shiller Index; Plenty Of Investor Updates
Tue, May 25 2010, 9:38 AM
Housing did nothing to reverse the risk averse bias in stocks. The flight to quality into government bonds continues...mortgage rates should improve t...
Tue, May 25 2010, 7:39 AM
U.S. equities are indicated lower and the flight to safety is back in style after stock markets sold off around the world in the overnight session. Co...
Tue, May 25 2010, 6:29 PM
Overnight, stock markets around the world sold off due to continued debt concerns across Europe and tensions between North and South Korea. Stocks ope...
Tue, May 25 2010, 5:45 PM
MBS close +8 ticks on the day, at 102-11, but that's off highs around 102-15. 10yr notes have backed up aggressively and directionally, rising from 3....
Tue, May 25 2010, 3:38 PM
The big question everyone is asking: The Home Buyer Tax Credit Has Expired. Will Home Sales Improve, Contract, or Go Sideways?
Tue, May 25 2010, 3:30 PM
Thrift institutions in the U.S. posted the third consecutive quarter of profitability according to data released on Monday by the Office of Thrift Sup...
Tue, May 25 2010, 2:17 PM
In and of itself, the auction wasn't good, at least not when comparing metric to metric vs recent averages. But how much should we have expected thos...
Mon, May 24 2010, 10:52 AM
Extensive Updates From Citi and Chase; Extended Lock Fees; NMLS Deadlines; Approved Fraud Detection Vendors; Quarterly Bank Performance;
Mon, May 24 2010, 10:19 AM
Stocks and bonds traded in a volatile manner last week as cash continued to seek out a liquid marketplace. Risk aversion remains the favored strategic...
Mon, May 24 2010, 8:47 AM
Housing data, the secondary marketing conference in New York, Treasury auctions, plenty of Fed speak, revisions to 1Q GDP, Durable Goods, and Consumer...
Mon, May 24 2010, 5:21 PM
Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally force...
