Mon, Dec 27 2010, 4:12 PM
The week ahead is historically slow on Wall Street. This means the potential for interest rate volatility is high and rate watchers should be prepared...
Mon, Dec 27 2010, 1:57 PM
The when-issued market was trading 2yr notes around .773 at the time of the 1pm auction. That means at a high yield of .74, the auction "traded throu...
Thu, Dec 23 2010, 11:50 AM
Blah blah blah rates higher blah blah blah outside the range blah blah blah Treasury supply blah blah blah tactical considerations blah blah blah hol...
Thu, Dec 23 2010, 11:34 AM
New Home Sales rose to an annualized rate of 290,000. This is better than the previous month (275,000) but a bit short of the consensus of 300,000. ...
Thu, Dec 23 2010, 11:22 AM
The Federal Reserve has posted changes to its September Interim Rule making changes to Regulation Z and the Truth in Lending Act. The newest modifica...
Thu, Dec 23 2010, 9:48 AM
Today being the last trading day of the week, and a shortened one at that (SIFMA rec. 2pm), low volume is no surprise. In fact, it's 75% lower than a...
Thu, Dec 23 2010, 9:40 AM
Private Mortgage Insurance Tax Deductions Extended; ARM Disclosures Updated; Calyx Bundles LOS Services; Wells Comments on Compensation
Thu, Dec 23 2010, 8:25 AM
The final day of this holiday-shortened week is packed full of macroeconomic data. An hour before the first report, the stock market is mixed as inves...
Wed, Dec 22 2010, 12:46 PM
Bearish trends are certainly more established at the moment, which is to be expected if we're right about the market beginning to build in a concessio...
Wed, Dec 22 2010, 12:06 PM
Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of ...
Wed, Dec 22 2010, 12:01 PM
Fannie Mae's economists expect matters to improve only slightly in 2011. Sales of homes are projected to increase 4.9 percent over the year but price...
Wed, Dec 22 2010, 10:50 AM
The "Urgent Need" for National Servicing Standards; CRA Definitions Updated; Freddie Mac Delinquency Data; Basel III Not Too Bad?
Wed, Dec 22 2010, 10:25 AM
"Refinance application volume dropped sharply this week as mortgage rates held near six month highs," said Michael Fratantoni, MBA's Vice President of...
Wed, Dec 22 2010, 8:53 AM
The Fed's preferred gauge of inflation, the Core PCE Price index fell from +1.6% in the 1st quarter to +0.8% in the 2nd quarter to a record low +0.4% ...
Wed, Dec 22 2010, 8:26 AM
Interest rates are generally sideways, equity futures are flat and oil prices are above $90 per barrel while the market awaits final GDP revisions, ex...
Wed, Dec 22 2010, 5:45 PM
First of all, the overriding caveat for today and probably for tomorrow as well is the low volume. Normally, low volume is seen at 60-90% of recent a...
Wed, Dec 22 2010, 5:34 PM
FHFA reports Freddie Mac and Fannie Mae's foreclosure prevention activity is decreasing overall. The backlog of trial modifications under HAMP is cle...
Wed, Dec 22 2010, 5:19 PM
Although our directional guidance givers, benchmark Treasury yields, moved higher today, mortgage rates ended the session in a slightly lower position...
Wed, Dec 22 2010, 2:09 PM
It's too bad to refer to a negative trend in a positive way, but it is behaving just as expected. After breaking the triangle convergence, 10's have c...
Tue, Dec 21 2010, 11:42 AM
Profit takers and short sellers are making their presence known following the Fed's latest POMO in the long end of the yield curve. Flows have gone ne...
Tue, Dec 21 2010, 11:26 AM
Making money is not all about producing loans. It's about running the business efficiently. Don't get me wrong, loan production is a very very importa...
Tue, Dec 21 2010, 10:06 AM
FHA Extends Direct Endorsement Deadline for Principal-Authorized Agents; Correspondent FHA Originators Get Deadline Waiver
Tue, Dec 21 2010, 8:22 AM
The 2.625% coupon bearing 10 year note is currently +8/32 at 94-08 yielding 3.311%. The 2s/10s curve is 3bps flatter at 271 wide. The FNCL 4.5 is UNC...
Tue, Dec 21 2010, 5:20 PM
Another data-less day has passed and we've seen another day of chopatility led by technical inflection levels surrounding the Fed's open market operat...
Tue, Dec 21 2010, 1:56 PM
From a big picture perspective...the modest gains we've enjoyed lately have done little to dent the massive declines that played out in December. Reba...
Mon, Dec 20 2010, 12:44 PM
Once the Fed's open market operations were done for the day...we started seeing rates make a move higher along with with a modest increase in trading ...
Mon, Dec 20 2010, 10:06 AM
I've made a list. I've checked it twice. And yep. Confirmation! I have not finished my holiday shopping yet! Nor am I ready to welcome the holiday spi...
Mon, Dec 20 2010, 9:23 AM
Lender Loosens Underwriting Regs; Early Check Eligibilty Tool; Loan Production Conduit Breakdown
Mon, Dec 20 2010, 8:55 AM
December floaters shouldn't be comfortable yet. You should actually be pretty antsy. That's how the market will behave next week at least. The week ah...
Mon, Dec 20 2010, 5:34 PM
We started letting War Roomers into MBSonMND last week. So far so good! If you signed up to be a beta tester, be patient with us, your invitation is c...
Mon, Dec 20 2010, 4:30 PM
In this shortened holiday week, in an era already frought with volatility, we'd only expect more of the same. However, with last week's strength in M...
Mon, Dec 20 2010, 1:28 PM
The National Association would like FICO to change the way they score credit utilization in light of recent unilateral reductions in credit lines by m...
Fri, Dec 17 2010, 11:48 AM
Aaron and Beth Stiner are renters, but not by choice and not because they can't afford to buy a house. They had a move-up home in Phoenix selected and...
Fri, Dec 17 2010, 11:22 AM
We stand a reasonable chance of confirming the rally that began around mid-day yesterday. Bonds have added to those gains this morning but positive p...
Fri, Dec 17 2010, 10:52 AM
GSEs Update Loan Delivery and Appraisal Data Requirements; MERS Phase Out; Amtrust Name Change; MBA on Compensation
Fri, Dec 17 2010, 9:29 AM
The MBA agrees with us, the mortgage industry is no where near ready to implement new originator compensation regs...
Fri, Dec 17 2010, 8:51 AM
The House of Representatives last night voted 277 to 148 to approve an $858 billion tax package extending the Bush-era tax cuts. After the news S&P fu...
Fri, Dec 17 2010, 5:52 PM
Phew. We made it through yesterday afternoon. And then we made it all the way through today too! Rally intact!! Additional gains secured!!! Reprices f...
Fri, Dec 17 2010, 5:13 PM
Volatility has not been a friend to mortgage rates over the last 30 days, but in the last 36 hours, we've been good buddies!
Fri, Dec 17 2010, 2:08 PM
MBS and treasuries have broken their intraday resistance levels after earlier stability prompted fast$ bond "vigilantes" to cover their short positio...
Thu, Dec 16 2010, 11:40 AM
Activity in all three stages of the foreclosure process declined in November, both from the previous month and the numbers one year earlier. Some of ...
Thu, Dec 16 2010, 11:15 AM
Lots of data to recap this morning and lots of drama to digest from yesterday. Not much has changed overnight as MBS and treasuries both sit at simila...
Thu, Dec 16 2010, 10:06 AM
Four federal banking regulators have issued a final rule allowing consideration of Neighborhood Stabilization Program projects a fulfilling Community ...
Thu, Dec 16 2010, 10:02 AM
S&P "Incorrectly Analyzed" Almost 2,000 RMBS Issues; More Originator Comp Convo; The Value of 2nd Liens; Co-op Share Loans
Thu, Dec 16 2010, 8:23 AM
Benchmark interest rates spiked yesterday afternoon following the Senate's passage of the tax cut extension bill. About half of those losses were reco...
Thu, Dec 16 2010, 5:57 PM
This may be what you've been waiting for! Over the course of the past few days and weeks, we've been increasingly trying to convey the same message: ...
Thu, Dec 16 2010, 5:22 PM
For now....YAY the bleeding has stopped....For now. Let's see what happens tomorrow before we start getting excited about another false start.
Thu, Dec 16 2010, 3:44 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have released New Residential Construction statistics for November 2010.
Thu, Dec 16 2010, 2:10 PM
It sounds almost surreal, but the new best execution rate is 5.25%. We just blew through 4.75% and 5.00% in less than a week. Volatility in loan pric...
Wed, Dec 15 2010, 12:05 PM
The 10yr note got gappy after the Fed completed their latest QEII POMO at 11am. The move has not been originator friendly. 10s have lost almost all of...
