Tue, Nov 2 2010, 2:29 PM
I am seeing some volatility in the basis. MBS valuations are moving in an originator friendly manner. Besides the long bond, which appears to be catch...
Mon, Nov 1 2010, 12:56 PM
If you've been riding the float boat, now is not the time to be be pulling your hair out in panic. Remain calm, nothing has changed, QEII is coming an...
Mon, Nov 1 2010, 9:31 AM
MERS & Commercial Loans; 82 FDIC "Actions"; GSEs Working with HFAs; Lender Updates
Mon, Nov 1 2010, 8:44 AM
Key Events in the Week Ahead Include: Mid-Term Elections, the FOMC Meeting, the Employment Situation Report, and Pending Home Sales.
Mon, Nov 1 2010, 3:59 PM
Mortgage rates had their little hissy fit and consumer borrowing costs moved to one month highs. But it was all part of the game. We anticipated this ...
Mon, Nov 1 2010, 1:53 PM
Plain and Simple: YES. If open market asset purchases push benchmark yields and mortgage rates lower, to the point where loan refinancing increases en...
Fri, Oct 29 2010, 11:53 AM
The plain and simple version of this story is title insurers are nervous about covering foreclosed properties without some sort of guarantee that they...
Fri, Oct 29 2010, 11:14 AM
Revisiting Originator Compensation Options; Mixed Bag of Bank Earnings, Updates from Mortgage Insurers; Lender Bulletins
Fri, Oct 29 2010, 8:30 AM
Plain and Simple: GDP data was on the screws. A few things stood out to me. Weakness in the housing market is VERY OBVIOUS....see the 29.1% decline in...
Fri, Oct 29 2010, 8:26 AM
Ahead of a deluge of data, domestic interest rates are improved. This follows the release of several discouraging reports on the international economy...
Fri, Oct 29 2010, 2:56 PM
The recent news coverage has returned many mortgage and MBS-related issues, both real and illusory, to prominence. The initial headlines that stemmed...
Thu, Oct 28 2010, 10:04 AM
We sniffed out the pain trade the day after $13 billion long bonds were met with poor demand. The pain trade is just about played out and benchmark in...
Thu, Oct 28 2010, 9:48 AM
Spike in FHA to FHA Refinances; Deutsche Bank on Home Prices; Compensation Conference Call; Wells Finds Flaws in Foreclosures
Thu, Oct 28 2010, 8:28 AM
The long end of the yield curve continued to weaken early in the overnight session but have since corrected back to yesterday's yield lows/price highs...
Thu, Oct 28 2010, 6:08 PM
The first step in revisiting record low mortgage rates was taken today. Selling in the long end of the curve stopped out, shorts were covered, prices ...
Thu, Oct 28 2010, 1:30 PM
lain and Simple: Overall, this 7-yr auction was very well received, and has pushed benchmark yields lower. It is definitely the best auction of the w...
Wed, Oct 27 2010, 12:32 PM
There is a great deal of nervousness regarding the outlook for interest rates as it relates to QEII. I expected this to happen.The bond market got ahe...
Wed, Oct 27 2010, 11:30 AM
"Economic growth in 2010 has been subdued and this trend will likely continue for most of 2011. Households remain cautious given the weak job market. ...
Wed, Oct 27 2010, 11:07 AM
Ginnie Mae Net Worth & Liquidity Standards; QEII Chatter; FHA Condo Recertifications; Home Owner Loan Corp.
Wed, Oct 27 2010, 8:29 AM
Ahead of a $35 billion 5-year Treasury note auction, the 5-year note is -9/32 at 99-23 yielding 1.306% (+5.3%) and the 10-year Treasury note is -17/32...
Wed, Oct 27 2010, 4:15 PM
Plain and Simple: The bond market got way head of itself about QEII. The sugar high has worn off. However because it is a "trader's market" and a trad...
Wed, Oct 27 2010, 3:35 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have jointly released NEW RESIDENTIAL SALES for September 2010.
Wed, Oct 27 2010, 2:46 PM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 22, 2010.
Wed, Oct 27 2010, 2:42 PM
One would not go on a long road trip without a map. Without a road map, one could get lost, waste time or maybe never find the place they set out to ...
Wed, Oct 27 2010, 1:08 PM
10s are off their yield highs and "rate sheet influential" MBS coupons are off their intraday price lows....but both are generally bouncing around nea...
Tue, Oct 26 2010, 10:55 AM
Negativity and uncertainty are abundant and guess whose fault it is? OURS! At least that's the perspective of the outside world. It doesn't matter wha...
Tue, Oct 26 2010, 10:43 AM
FDIC Chairperson Sheila Bair pointed to the robo-signing controversy as just another indication of the need to improve institutional practices all alo...
Tue, Oct 26 2010, 10:22 AM
What is Quantitative Easing? Investor Raises FHA Minimum FICO to 640; New Mortgagee Letter
Tue, Oct 26 2010, 9:06 AM
"A disappointing report. Home prices broadly declined in August. Seventeen of the 20 cities and both composites saw a weakening in year-over-year figu...
Tue, Oct 26 2010, 8:20 AM
Benchmark interest rates backed up yesterday in a low volume trading environment. The move was short term in nature but clearly illustrates the idea ...
Tue, Oct 26 2010, 3:53 PM
Yuck. Mortgage rates are not heading in the right direction. In the past two days consumer borrowing costs on mortgage rate quotes at or below 4.25% h...
Tue, Oct 26 2010, 3:32 PM
The administration's October Housing Scorecard released this morning shows that recovery in the housing market remains fragile, with continued foreclo...
Tue, Oct 26 2010, 2:31 PM
This post is more of an FYI as opposed to an alert. If you're floating I would not recommend locking at this point in the retracement process. The lon...
Tue, Oct 26 2010, 1:05 PM
The bid to cover ratio, a measure of auction demand, was above average, the high yield was lower than the 1pm "When Issued Yield", direct and indirect...
Mon, Oct 25 2010, 12:45 PM
U.S. mortgage finance giants Fannie Mae and Freddie Mac are looking to more aggressively move loan workout duties to specialist firms as their frustra...
Mon, Oct 25 2010, 11:27 AM
The bond market reacted counterintuitively to better than expected Existing Home Sales data this morning. Price are rising, trading volumes are low an...
Mon, Oct 25 2010, 10:03 AM
RTRS-US SEPT EXISTING HOME SALES 4.53 MLN UNIT ANNUAL RATE (CONS 4.30 MLN) VS AUG 4.12 MLN (PRV 4.13 MLN). SEPT EXISTING HOME SALES +10.0 PCT (CONS +...
Mon, Oct 25 2010, 10:00 AM
Bank of America Finds Mistakes in Foreclosure Files; MBS Issuance 95% Agency Paper; What is an Allonge?; Document Curing Timeline
Mon, Oct 25 2010, 8:40 AM
New & Existing Home Sales, S&P/Case-Shiller HPI, Treasury Auctions, Q3 GDP, Consumer Confidence,Durable Goods Orders, the MBA Convention, Fed/FDIC M...
Mon, Oct 25 2010, 5:32 PM
Loan pricing was initially improved over the rate/point quotes lenders were offering on Friday, however about halfway through the day the bond market ...
Mon, Oct 25 2010, 4:26 PM
Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy ...
Mon, Oct 25 2010, 4:19 PM
Federal Reserve Chairman Ben Bernanke departed from the focus of a conference on foreclosures and mortgage financing today to report that the Fed is l...
Mon, Oct 25 2010, 1:50 PM
Rate sheet influential MBS prices have fallen over 10 ticks in the last five minutes. REPRICES FOR THE WORSE ARE HIGHLY LIKELY
Fri, Oct 22 2010, 11:46 AM
The yield curve is bear steepening and "rate sheet influential" MBS coupons are in the red but well off the lows and outperforming benchmark guidance ...
Fri, Oct 22 2010, 10:57 AM
A long, hard look at the continuing stability of the VA Loan Guaranty program should be requisite for those helping to reshape and redefine sustainabl...
Fri, Oct 22 2010, 10:28 AM
What do Bank of America and Chase know that the rest of the industry doesn’t? Why have they decided to ditch wholesale and focus on the retail and co...
Fri, Oct 22 2010, 9:50 AM
These include a new product option for FHA’s Home Equity Conversion Mortgage (HECM), changes to our Mortgage Insurance Premiums (MIPs), and new credit...
Fri, Oct 22 2010, 9:41 AM
Uh, how much did you say Fannie & Freddie need? Wells adjusts gov't loan comp; LEI examined; comments from the trenches
Fri, Oct 22 2010, 8:38 AM
After a quiet overnight trading session, interest rates in the long end of the yield curve are moving higher and equity futures are heading sideways.
Fri, Oct 22 2010, 3:51 PM
The bond market continues to demonstrate a clear unwillingness to push interest rates any lower without hearing new guidance from the Federal Reserve ...
