Fri, Nov 19 2010, 5:04 PM
Despite the anticipation for sluggish growth into the first part of 2011, Fannie Mae, in their November 10th Economic Outlook, sees GDP growth driven...
Fri, Nov 19 2010, 4:48 PM
The movements of mortgage rates higher and lower throughout the week have become progressively more tame. There was almost an entire point of differe...
Fri, Nov 19 2010, 4:33 PM
The joint HUD, Treasury Housing Scorecard showed that the number of borrowers entering the HAMP program has slowed as has the rate of conversion from ...
Fri, Nov 19 2010, 3:10 PM
We're long overdue a look at loan pricing. I have charted loan pricing on 4.00%, 4.25%, and 4.50% note rates going back to late June.
Fri, Nov 19 2010, 2:41 PM
Naturally, many billions of extra dollars flowing into the bond market are going to cause movements, and we'll see the extent of those in the charts t...
Thu, Nov 18 2010, 12:40 PM
A good way to fend off an unwelcome call from your warehouse lender is to review your scorecards often and address issues quickly. It is always bette...
Thu, Nov 18 2010, 12:02 PM
In prepared testimony for a House committee hearing, Acting Comptroller of the Currency John Walsh said that MERS and LPS will join eight servicers in...
Thu, Nov 18 2010, 11:59 AM
FHFA released its Performance and Accountability Report which indicated that it met only 12 out of the 25 performance measures outlined in support of ...
Thu, Nov 18 2010, 10:07 AM
We've been talking a lot about bearish technical biases in the bond market lately. Besides needing to overcome that rally resistance we've also been ...
Thu, Nov 18 2010, 10:03 AM
Initial Jobless Claims released this morning at 830am showing a small 2k increase from 437,000 last week. The 439k was basically dead on with consens...
Thu, Nov 18 2010, 9:50 AM
Even More Info on Originator Compensation; Securitization Flow Chart; Tax Deductible PMI; Bank Stress Tests Back
Thu, Nov 18 2010, 8:24 AM
Treasuries were mixed on Wednesday, with short maturities gaining a bit of ground while prices for longer assets dropped. The 7- and 10-year maturiti...
Thu, Nov 18 2010, 5:20 PM
What a frustrating week it has been for anyone trying to make sense of the movements in mortgage rates or those hoping to get ahead of the market in o...
Thu, Nov 18 2010, 2:23 PM
A common theme this week has been the near certainty of choppy and volatile movement in between the extremes of recent ranges. The past few hours hav...
Wed, Nov 17 2010, 12:40 PM
Data on building permits, housing starts, and housing completions in October was released today by the U.S. Census Bureau and the Department of Housi...
Wed, Nov 17 2010, 10:53 AM
The weekly Mortgage Bankers Association report on mortgage application activity for the week shows mortgage rates up sharply with some upward adjustme...
Wed, Nov 17 2010, 9:47 AM
Both CPI and Housing starts this morning. Market reaction, if there even is one, has been favorable so far this AM. The slight undertone of resignat...
Wed, Nov 17 2010, 8:26 AM
Two keys events will hit the market this morning, the consumer price index and housing starts. In addition, General Motors is expected to raise more t...
Wed, Nov 17 2010, 5:07 PM
At about 11am yesterday, prices of the Mortgage-Backed-Securities most closely tied to rate sheets had bottomed out and began to climb, reaching highs...
Wed, Nov 17 2010, 4:18 PM
Some parts of the bond market are indeed merely APPROACHING their worst levels of the day, while others are already there. Stocks are fairly flat, an...
Wed, Nov 17 2010, 1:56 PM
Walkthrough of Loan Paper Transfer Process; Fed Explains Credit Scores; Fannie CFO Calls It Quits; Ginnie Mae Guarantee Stats
Wed, Nov 17 2010, 1:50 PM
The positive momentum discussed this morning continued into the noon hour as 10 yr notes ventured as low as 2.8. Meanwhile, MBS flirted with the 102-...
Tue, Nov 16 2010, 11:15 AM
Positive progress has stalled and "rate sheet influential" MBS coupon prices are falling again. REPRICES FOR THE WORSE HAVE BEEN REPORTED
Tue, Nov 16 2010, 10:54 AM
The National Association of Home Builders/Wells Fargo survey of building confidence rose a single point in November. The component of that survey mea...
Tue, Nov 16 2010, 10:09 AM
This morning's most significant data, October PPI, printed at +0.4%, weaker than the +0.8% expectation. Considering the railing bonds have taken of l...
Tue, Nov 16 2010, 9:21 AM
Federal Reserve Governor Daniel Tarullo addressed the issue of reforming minimum capital requirements and allowing the resumption or increase of bank ...
Tue, Nov 16 2010, 9:11 AM
Originator Compensation Feedback; Two New Mortgagee Letters; Flagstar Selling NPLs; Several Investor Updates; More on Buying a Bank
Tue, Nov 16 2010, 8:24 AM
The Day Ahead: Producer Price Index, TIC Flows, IP, NAHB Confidence
Tue, Nov 16 2010, 6:22 PM
After recapturing some of the losses from yesterday, it was right back into sell mode as prices hurtled disturbingly toward even lower prices than yes...
Tue, Nov 16 2010, 2:20 PM
Railroaded... Now there's a good figure of speech, and one that is better defined by examples that by the dictionary. Webster says: " a : to convict...
Mon, Nov 15 2010, 11:37 AM
New Federal Reserve Governor Sarah Bloom Raskin has called for a new business model for mortgage services that eliminates the incentives that potentia...
Mon, Nov 15 2010, 10:26 AM
Most of the production MBS stack had been down nearly a full point this morning but have since battled back. The 3.5 is currently down 21 ticks at 98...
Mon, Nov 15 2010, 9:07 AM
The Federal Reserve Bank of NY reports that Americans are becoming more frugal, maintaining fewer open lines of credit and paying down dept. The ques...
Mon, Nov 15 2010, 9:05 AM
Wholesaler Perspective on Originator Compensation; Empty Housing Units; TBW Impact on Delinquency Rates; Investor Updates
Mon, Nov 15 2010, 8:34 AM
There’s no shortage of data in the week ahead. Key events include retail sales, industrial production, housing starts, plus key inflation data and a f...
Mon, Nov 15 2010, 6:49 PM
Treasuries got smoked again, with another huge uptick in intermediate-maturity yields. The 10-year closed down almost 1 ½ points from Friday’s close, ...
Mon, Nov 15 2010, 4:36 PM
Tension remains high in the primary mortgage market as mortgage rates have extended their losing streak. We're in a tough spot here...
Mon, Nov 15 2010, 3:34 PM
At 1:35 PM, the Fannie 4.0 peaked at 102-02. Just an hour later, prices had fallen to 101-20 before sliding to 101-15 (pretty much this AM's levels) ...
Mon, Nov 15 2010, 1:59 PM
Bonds continue to rally and/or hold their ground despite a neutral to bullish retail sales report as well as rallying stocks. This is a potential con...
Fri, Nov 12 2010, 12:39 PM
Not much green on my trading screens today, unless you look at yields and volatility, those are up! Otherwise the only other thing rallying is a herd ...
Fri, Nov 12 2010, 12:35 PM
Without accurate and timely financial reports, managing the affairs of the company can be extra challenging. Let’s take a look at a few examples of t...
Fri, Nov 12 2010, 12:22 PM
The Mortgage Bankers Association was quick to respond to a suggestion in draft proposal from the Cost-Cutting Commission that the tax code be revamped...
Fri, Nov 12 2010, 10:10 AM
Our tension level remains high this morning as tactical day traders squeeze out every last drop of short seller profit in the belly of the curve all t...
Fri, Nov 12 2010, 10:03 AM
Loan Buyback Case Against BoA Hits Snag; Chase Stuck with WAMU Lawsuit; New GSE Regulator; Home Prices; Investor Update
Fri, Nov 12 2010, 8:43 AM
Benchmark interest rates traded lower early in the overnight session but began to tick higher as London went to work around 3am. Also, the tumble in ...
Fri, Nov 12 2010, 6:09 PM
There were moments of hope, but for the most part we watched helplessly as the market moved in the wrong direction. And today. Ugh. Today was the icin...
Thu, Nov 11 2010, 2:09 PM
Saying they are already overburdened, eight financial service sector trade groups on Wednesday sent a letter to three regulators asking for a delay in...
Thu, Nov 11 2010, 1:50 PM
"October marks the 20th consecutive month where over 300,000 U.S. homeowners received a foreclosure notice," said James J. Saccacio, chief executive o...
Thu, Nov 11 2010, 1:12 PM
Industry Feedback: Production Statistics Are Double Counted; USDA Funding Now Available; NAMB Petition; U.S.A. Rating Downgrade?
Wed, Nov 10 2010, 10:22 AM
Treasury yields have yet to hit a ceiling and "rate sheet influential" MBS prices have yet to find a floor. I am not panicking. I repeat. I am not pan...
