Wed, Jan 5 2011, 3:53 PM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the weeks ending December 24, 2010 and December 31, ...
Wed, Jan 5 2011, 2:55 PM
Bargain hunters have parked their wallets and moved to the sidelines and sellers are making their presence known in the "rate sheet influential" belly...
Wed, Jan 5 2011, 1:42 PM
The "Live MBS Updates" Section of our new MBSonMND Dashboard has been a great indicator of that volatility today. It is updated as market conditions w...
Tue, Jan 4 2011, 11:17 AM
A trader from Cantor Fitzgerald wrote, "In order to win in 2011, you need to be right about the timing of the economy turning around. In my mind it's ...
Tue, Jan 4 2011, 10:36 AM
Four Housing Issues to Watch in 2011; Quarterly NMLS Call Reports; Budget Debate Looms; BoA Buyback Resolution Feedback
Tue, Jan 4 2011, 8:34 AM
Both Treasury yields and S&P futures moved mostly sideways in Asian trading before making a directional move as London came back to work around 3AM e...
Tue, Jan 4 2011, 5:26 PM
Today held one of the few market events with the potential to move mortgage rates between now and Friday's employment situation report.
Tue, Jan 4 2011, 4:17 PM
10's tested this morning's highs in earnest, briefly eclipsing the 3.3578 mark from 9:54 AM to touch 3.361, but have since returned to sub 3.34 levels...
Tue, Jan 4 2011, 3:41 PM
Of course news that Bank of America had settled GSE repurchase claims on loans written by Countrywide (for pennies on the dollar) brought out a chorus...
Tue, Jan 4 2011, 3:32 PM
One of the key metrics wholesaler and correspondent lenders monitor on a regular basis is their pull-through ratio. Pull-through references the numbe...
Mon, Jan 3 2011, 11:17 AM
10yr yields fell all the way to AM lows at 3.36, but have since ticked just slightly higher. So 3.36 to 3.42 marks the range in 10yr Treasuries this m...
Mon, Jan 3 2011, 10:37 AM
Loan Officer Professional Privacy Gone; New Mortgagee Letters; Covered Bonds Coming?; BoA Settles with GSEs. Allstate & MBIA Still Suing;
Mon, Jan 3 2011, 10:35 AM
Because trading conditions are still illiquid and investors are still shaking out the cobwebs, tactical considerations remain the primary (un) inspira...
Mon, Jan 3 2011, 8:30 AM
Happy New Year. Welcome to MND 3.0! After 12 months of planning and hard work, we are very excited to launch the updated site. We've added and improv...
Mon, Jan 3 2011, 6:49 PM
For anyone who is waiting for mortgage rates to inch lower, the bond market faces a major hurdle this Friday, January 7, 2011 when the December Employ...
Mon, Jan 3 2011, 5:53 PM
Chart or no chart, it SHOULD all boil down to the big ticket economic items this week: FOMC minutes and Employment Situation Report.
Mon, Jan 3 2011, 4:23 PM
On average, loan pricing is 28.2bps better than it was last Thursday. We did not update our model on Friday. Improvements are pretty consistent across...
Mon, Jan 3 2011, 4:18 PM
Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of orig...
Mon, Jan 3 2011, 3:16 PM
The Federal Housing Finance Agency (FHFA) has approved agreements reached by Freddie Mac and Fannie Mae (the Enterprises) with Ally and Bank of Americ...
Mon, Jan 3 2011, 1:07 PM
While not quite the same as the agonies of 2007 and 2008, 2010 was another calamitous year for the mortgage and MBS markets. Here are my expectations ...
Fri, Dec 31 2010, 10:57 AM
Almost non-existent trading volumes continue to remind us of the 2pm bond market close that can't come soon enough on this last day of the year. This ...
Fri, Dec 31 2010, 10:34 AM
A Poem to Sum Up the Year in Mortgage Lending. Happy New Year!
Fri, Dec 31 2010, 8:36 AM
Good Morning. Happy Last Day of 2010.
Overnight trading in the Treasury market was slower than usual as Japan enjoyed an exchange holiday and the r...
Thu, Dec 30 2010, 12:44 PM
10s have largely been able to elude the brunt of three bond bearish data sets this morning thanks to month-end index extension needs and previously pl...
Thu, Dec 30 2010, 11:13 AM
A lot of IF's need to play out just to see a GRADUAL housing recovery. Oh well. We gotta start somewhere.
Thu, Dec 30 2010, 11:03 AM
FTC Blocks Loan Mod Consultants from Collecting Upfront Fees; 3Q Loan Production Stats; Florida Extends L.O Licensing Deadline; Unrealized Losses
Thu, Dec 30 2010, 10:02 AM
Unless your lender was lite on the reprices for the better yesterday, rebate will be reduced today. If you gotta lock before January 7th...4.75 is you...
Thu, Dec 30 2010, 9:10 AM
The seasonally adjusted initial claims number declined by 34,000 people while the unadjusted total climbed 24,879. Again, it's hard to say just how la...
Thu, Dec 30 2010, 8:25 AM
Bonds are backing up a bit while and equity futures point modestly lower on the last full trading trading day of the year.
Thu, Dec 30 2010, 5:43 PM
It was a bouncy sort of day with multiple motivations in the market vying for their agenda here on the last full trading day of the year. Don't get m...
Thu, Dec 30 2010, 5:29 PM
Today was a sensory overload for rate watchers. Lenders repriced for the worse. Lenders repriced for the better. In the end, mortgage rates were UNCHA...
Wed, Dec 29 2010, 11:44 AM
We're seeing some signs of life from bargain buyers, but nothing to get excited about, especially with trading volumes so low and price action largely...
Wed, Dec 29 2010, 11:38 AM
HUD has announced the award of $73 million in funds for housing counseling. This is a 22 percent increase over the funds that were available last ye...
Wed, Dec 29 2010, 10:50 AM
Reverse Mortgage Primer; Feedback on Originator Licensing Backlog in California; More Risk-Based Pricing Disclosure Updates
Wed, Dec 29 2010, 8:39 AM
The econ calendar is empty today. This leaves bond traders to focus on underwriting $29 billion 7-year notes. Treasury closes the TAAPS bidding window...
Wed, Dec 29 2010, 5:34 PM
If you were watching the market today, you're already aware that we saw some pretty massive gains in production MBS coupons. 4.0's were up 38 ticks (...
Wed, Dec 29 2010, 4:17 PM
It was another volatile day in mortgage-land. But this time volatility worked out in our favor. We erased yesterday's loan pricing losses!
Wed, Dec 29 2010, 1:16 PM
Rates are rallying. If you haven't seen reprices for the better already, you will soon. So far this rally smells like a short squeeze so don't get ove...
Tue, Dec 28 2010, 11:27 AM
S&P/Case-Shiller home price data and Consumer Confidence were both bond market friendly this morning. Yet the bond market did not react logically to...
Tue, Dec 28 2010, 10:52 AM
Ally and Fannie Mae Agree on Loan Repurchase Resolution; HUD Violations Listed; California Behind on Originator Licensing Applications
Tue, Dec 28 2010, 9:18 AM
David Blitzer summed up the October data with this statement, “The double-dip is almost here, as six cities set new lows for the period since the 2006...
Tue, Dec 28 2010, 8:29 AM
Benchmark interest rates are holding onto yesterday's post-auction bond market rally even as equity futures rally toward new two-year highs. This come...
Tue, Dec 28 2010, 5:20 PM
Today is not one of the best days for MBS purely from a PRICE standpoint. 4.5's lost nearly a point (down 25 ticks to 101-10). In fact, losses of th...
Tue, Dec 28 2010, 4:38 PM
If 4.75 was really on the table yesterday, it's not still there today. A thinly attended Treasury auction is cited as the culprit behind rising mortga...
Tue, Dec 28 2010, 2:41 PM
FHFA is proposing revisions to the membership provisions to "reinforce the connection between membership and support for residential housing finance" ...
Tue, Dec 28 2010, 1:53 PM
Prices are at their lows of the day, yields well above previous highs. Reprices for the worse could get heavy-handed....
Mon, Dec 27 2010, 11:21 AM
The Federal Home Finance Agency FHFA) has issued the final rules for the three financial entities it oversees and an advance notice of proposed rulema...
Mon, Dec 27 2010, 10:36 AM
Fannie Updates CLTV LLPAs; NMLS Originator ID Reminder; Fair Credit Risk-Based Pricing Regulations; Amtrust Name Change
Mon, Dec 27 2010, 8:17 AM
Welcome to the last week of 2010. We have three Treasury note auctions, two Fed QEII coupon passes, some housing data, and a couple of regional manufa...
Mon, Dec 27 2010, 5:18 PM
Without an improvement in attendance we'd expect to see more random meandering about a defined yet wide range. Call it an exploratory "poking and prod...
