Tue, Apr 20 2010, 10:22 AM
We need regulation, but we need it to be implemented with careful consideration from the people who operate in the real life environment. We need ope...
Tue, Apr 20 2010, 8:17 AM
Equity futures are pointing higher this morning after Goldman Sachs clobbered earnings expectations for the first quarter. The controversial Wall Stre...
Tue, Apr 20 2010, 5:41 PM
Tue, Apr 20 2010, 4:02 PM
Despite mortgage rates bumping a few basis points higher, I continue to favor locking. Stocks seem like an unstoppable force moving higher plus we hav...
Tue, Apr 20 2010, 3:14 PM
Tue, Apr 20 2010, 3:11 PM
This last Saturday I paddled something new. I’ve had a habit of kayaking 2-3 places and not exploring something new. There are many great bays and l...
Mon, Apr 19 2010, 12:32 PM
Recently lenders have been offering an option of ‘no origination fee’ on the HECM fixed rate reverse mortgage program. This sounds good on the surfac...
Mon, Apr 19 2010, 11:31 AM
Robert E. Story, Jr., Chairman of the Mortgage Bankers Association (MBA) told Congress last week that servicers administering government foreclosure p...
Mon, Apr 19 2010, 10:59 AM
Flood Insurance Extension; Citi earnings; More Discussion on Goldman Sachs News; Updates from BofA, Flagstar, Pinnacle, GMAC, AmTrust, USB
Mon, Apr 19 2010, 10:13 AM
The obvious leading candidate for the market's strategic motivation will be CDO contagion and continued stories of misrepresentation and market manipu...
Mon, Apr 19 2010, 8:36 AM
With little economic data released until Thursday this week, investor attention should remain focused on first-quarter earnings releases, plus continu...
Mon, Apr 19 2010, 7:11 PM
The moral of the story is that we've been feeling the liklihood for slightly higher rates at some point this week and the mild movement today from 3.7...
Mon, Apr 19 2010, 3:54 PM
It was a very slow day on Wall Street as most market participants are still trying to figure out if the Goldman Sachs news is going to spread around t...
Mon, Apr 19 2010, 3:30 PM
Mortgages have hit a new intraday price low. Even as MBS and Treasuries have worsened further in recent minutes, they are not showing a clear disposit...
Mon, Apr 19 2010, 1:25 PM
Like big brother TSYs, trading of production MBS coupons has been slow to start the week. For the most part, we are playing "follow the leader" with b...
Fri, Apr 16 2010, 12:23 PM
The SEC caught us all off-guard this morning by announcing they were filing civil charges on Goldman Sachs for material misrepresentation.A knee jerk ...
Fri, Apr 16 2010, 11:09 AM
Goldman Sachs built a mortgage-backed security that was designed to implode in a manner that Paulson & Co. (Not Hank Paulson) could profit from by sh...
Fri, Apr 16 2010, 11:06 AM
"Reform is coming," according to a Treasury Department official who spoke this week to the National Policy Conference 2010 held by the Mortgage Banker...
Fri, Apr 16 2010, 10:39 AM
Top Ranked Mortgage Originators; Important Appraisal Updates; BofA Q1 Results; Loan Mod Progress; Reform
Fri, Apr 16 2010, 9:31 AM
Fri, Apr 16 2010, 8:22 AM
US equities have been rising for the past six trading days, but even though first-quarter earnings continue to roll in with positive results, the futu...
Fri, Apr 16 2010, 5:13 PM
We had a choppy start to the day. Mortgage rates opened up marginally better vs, yesterday but mostly the same. However, in the lunch hour, breaking n...
Fri, Apr 16 2010, 4:46 PM
You'll notice that AQ and I tend to ramp up our fervor with respect to locking your loans around market peaks. We could ponder why that is, but more ...
Fri, Apr 16 2010, 1:29 PM
Building permits are on the rise from record low levels, but builders are not using them, housing starts are essentially stagnant.Isn't that a good th...
Thu, Apr 15 2010, 12:45 PM
Over the past two days we have been favoring a lock bias. This bias was based more on lender strategies than price action in the bond market. While we...
Thu, Apr 15 2010, 10:59 AM
Bank representatives speaking to the House Financial Services Committee addressed the problem of second mortgages and boasted of the efforts their ins...
Thu, Apr 15 2010, 10:43 AM
Fannie Mae Reduces "Waiting Period" for Re-Established Credit; Ginnie to Allow Securitization of Single Loans; More Foreclosures; RESPA Updates
Thu, Apr 15 2010, 10:08 AM
Considering CPI data confirmed inflation is well contained and Ben Bernanke continues to provide low rate rhetoric..I have to say I am baffled by the...
Thu, Apr 15 2010, 8:21 AM
After hitting fresh 52-week highs across the board yesterday, US equities are looking to open slightly lower this morning ahead of a packed schedule. ...
Thu, Apr 15 2010, 4:29 PM
Benchmark Treasury yields rose and mortgage-backed security prices fell after the market received mostly positive economic data on the manufacturing s...
Thu, Apr 15 2010, 3:45 PM
It's a bit too soon to call that for today and likely of small significance compared to whatever tomorrow holds. From a bearish stance, we've caught ...
Thu, Apr 15 2010, 3:02 PM
RealtyTrac is reporting that foreclosure rates for both the first quarter of 2010 and for March were up significantly. However, the increase came in ...
Thu, Apr 15 2010, 2:44 PM
During our visits to mortgage companies, we often get asked: Does it make sense to retain servicing? And, if it does, when should be it considered?
Thu, Apr 15 2010, 2:31 PM
Permanent loan modifications through the Making Home Affordable Program increased by over 60,000 in March even as the rate of new entries into the pro...
Wed, Apr 14 2010, 11:32 AM
Representatives of four of the nation's largest mortgage lenders and servicers testified before the House Financial Services Committee yesterday on "S...
Wed, Apr 14 2010, 10:42 AM
How FICO Scores Are Calculated; Chatter from the Trenches; JP Morgan Chase Earnings; Updates: Wells, Freddie, Provident, Citi, USB
Wed, Apr 14 2010, 10:14 AM
Inflation is well-contained but consumer spending continues to improve. One is bond bullish the other is bond bearish. Looks like 830AM data was a was...
Wed, Apr 14 2010, 8:15 AM
Applications for government mortgages dropped substantially last week, following the implementation of an increase in FHA mortgage insurance premiums,...
Wed, Apr 14 2010, 8:13 AM
A busy schedule of data and speakers from the Federal Reserve awaits investors today. Key data include retail sales and the consumer price index an ho...
Wed, Apr 14 2010, 6:32 PM
The Obama Administration today released questions for public comment on the future of the housing finance system, including Fannie Mae and Freddie Mac...
Wed, Apr 14 2010, 6:22 PM
I guess it would be that today's weakness isn't necessarily a sign of things to come, but there's plenty of potential for gains and losses ahead, eith...
Wed, Apr 14 2010, 4:51 PM
Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the...
Wed, Apr 14 2010, 3:45 PM
The FN 4.5 has fallen to its lowest price of the day. Reprices for the worse have been reported.
Wed, Apr 14 2010, 2:30 PM
I really didn't take anything new from today's hearing. My dovish stance was reconfirmed. There are still significant restraints on the economy, infla...
Tue, Apr 13 2010, 12:16 PM
We almost never see mortgage bankers doing formal, ongoing due diligence on their counter-party risk, and it always concerns us. The point of looking ...
Tue, Apr 13 2010, 11:12 AM
After hitting an early morning price high of 100-18, the FN 4.5 is currently trading -0-01 at 100-06, a new intraday price low.Lenders who published p...
Tue, Apr 13 2010, 10:45 AM
The Magnitude of the 2nd Mortgage Problem; Numerous Investor Bulletins; Banks and Hedge Funds Buying; SATO
Tue, Apr 13 2010, 10:02 AM
THERE IS A CLEAR CUT LACK OF NEW LOAN SUPPLY IN THE AGENCY MBS MARKET. Combine that with a general slowdown in mortgage specific trading flows (+modes...
Tue, Apr 13 2010, 8:04 AM
After three days of gains, US equities are looking to start lower on Tuesday ahead of trade balance data for February. The caution is partly attribute...
Tue, Apr 13 2010, 7:36 PM
If you have been floating you should have seen your interest rate drop by 0.25% to 0.375% over the past week. We always say "Float at the Price Lows a...
