Thu, Sep 23 2010, 2:50 PM
How is it that a small mortgage banker is able to fund 100% of their production through a mortgage bank and pay only 40% commission to its loan office...
Thu, Sep 23 2010, 2:19 PM
Lawrence Yun, NAR chief economist, said home sales still remain subpar. “The housing market is trying to recover on its own power without the home buy...
Wed, Sep 22 2010, 11:48 AM
The 2s/10s yield is another 6bps flatter at 210bps wide, production MBS coupons are trading to shorter hedge ratios, and benchmark 10s have moved all ...
Wed, Sep 22 2010, 10:51 AM
Has refi demand topped out? Have purchase apps bottomed? The latter is far less likely than the former. Color from lock desks confirms the slow down i...
Wed, Sep 22 2010, 9:37 AM
Before anyone says that the value of servicing is next-to-nothing, don't forget to consider investor profit margins. And while you're at it, give some...
Wed, Sep 22 2010, 8:34 AM
Treasuries experienced a broad rally yesterday including the benchmark 10-year note shedding 13 basis points to 2.58% while 2-year yields created a fr...
Wed, Sep 22 2010, 3:53 PM
If you were floating your loan last week when rates started to rise, you probably kicked yourself for not locking. If you held out and continued floa...
Wed, Sep 22 2010, 1:18 PM
Owner occupants and public groups using NSP funds have purchased 29,000 homes over the past year through a Fannie Mae program which gives them first c...
Tue, Sep 21 2010, 12:40 PM
The fact that we are pointing toward the same reason as an explanation for the behavior of two different markets creates a lot of crosswinds and confu...
Tue, Sep 21 2010, 12:09 PM
The November FNCL 4.0 is trading 10/32 higher at 102-16, this is the high print of the day. Loan pricing is 32bps better vs. what lenders were offerin...
Tue, Sep 21 2010, 11:43 AM
GMAC Temporarily Suspends Foreclosures in 23 States; Discover Entering Mortgage Biz?; HMDA Data; New DU Version 8.2; Prop 4 in Florida
Tue, Sep 21 2010, 10:37 AM
In the last several months we’ve seen several banks and mortgage bankers create partnerships that are mutually beneficial. If you are bank, poke arou...
Tue, Sep 21 2010, 8:38 AM
Housing Starts improved 10.5% in August, again on the back of the multi-family market, which rose by 39,000 annualized units or 32%. Single-family st...
Tue, Sep 21 2010, 8:21 AM
Interest rates are marginally lower and equity futures are roughly flat ahead of key housing data and the afternoon release of the policy statement fr...
Tue, Sep 21 2010, 4:26 PM
The post-FOMC bond market rally brings mortgage rates back to where they were last Tuesday, which was the best day to lock last week. 4.25% is still t...
Tue, Sep 21 2010, 3:40 PM
Legislation has been introduced in the House which would require lenders and servicers to either act quickly to approve or deny requests for short sal...
Tue, Sep 21 2010, 2:48 PM
Price action was extremely choppy following the release of the FOMC statement. Since the initial knee jerk reaction, benchmark interest rates have ra...
Tue, Sep 21 2010, 2:17 PM
"Information received since the Federal Open Market Committee met in August indicates that the pace of recovery in output and employment has slowed in...
Mon, Sep 20 2010, 11:57 AM
"The stall in the nation's housing market continues. Builders report that the two leading obstacles to new-home sales right now are consumer reluctanc...
Mon, Sep 20 2010, 11:35 AM
Writing to the industry, FHA Commissioner David Stevens reminds us that there is more to the housing market than single-family homes and condos. Lost...
Mon, Sep 20 2010, 10:34 AM
Rate sheet influential MBS coupons are lower and wider in a "bid wanted" trading environment. This suggest demand for production MBS is still M.I.A a...
Mon, Sep 20 2010, 10:31 AM
Update on replacing HVCC; startling broker production stats; TBW/Cenlar updates, along with GMAC, Flagstar, Freddie, and AmTrust news
Mon, Sep 20 2010, 8:44 AM
New economic data is scant this morning but the focus all week will be housing, kicked off by the release of the homebuilder sentiment survey. U.S. s...
Mon, Sep 20 2010, 4:56 PM
Rate sheet influential MBS coupons totally reversed course this afternoon after getting whacked as week began. The November FNCL 4.0 went out +8/32 at...
Mon, Sep 20 2010, 4:37 PM
So far following the strategy of "lock at the MBS price highs and float at the MBS price lows" has worked out well for us. This strategy will be put t...
Mon, Sep 20 2010, 2:21 PM
The Mortgage Bankers Association has issued recommendations for improving the operation of both FHA and Ginnie Mae. Their suggestions focus on progra...
Mon, Sep 20 2010, 1:36 PM
Rate sheet influential MBS coupons are off their lowest prices and widest spread levels of the session. The November FNCL 4.0 is currently +0-03 at 10...
Fri, Sep 17 2010, 12:45 PM
Rate sheet influential MBS coupon prices have fallen back to their session lows. The FNCL 4.0 is -0-04 at 102-01. REPRICES FOR THE WORSE ARE POSSIBLE
Fri, Sep 17 2010, 11:55 AM
The survey shows that consumers see a mixed outlook for housing and homeownership....These findings indicate a return to a more balanced and realistic...
Fri, Sep 17 2010, 10:30 AM
More USDA Rural Housing Confusion; Fannie and Freddie Cost Estimates; FHA High Loan Balance Max DTI; Homeowner Outlook
Fri, Sep 17 2010, 8:40 AM
Led by energy prices, CPI rose 0.3% in August. This was slightly higher than forecast but pretty much on the screws when you back away and look at the...
Fri, Sep 17 2010, 8:25 AM
Both interest rates and equity futures are improving this morning as investor spirits got a bump from better-than-anticipated earnings from Oracle and...
Fri, Sep 17 2010, 4:41 PM
Mortgage rates came into the week on a three day losing streak. After a quick correction on Monday and Tuesday, mortgage rates ended this week on anot...
Fri, Sep 17 2010, 1:14 PM
Fannie Mae is working with the Federal Housing Finance Agency (FHFA) to develop and adopt appraiser independence requirements that will replace the Ho...
Thu, Sep 16 2010, 12:32 PM
Testifying before a House subcommittee, representatives of HUD and Treasury each laid out similar goals and expectations for the future of the governm...
Thu, Sep 16 2010, 12:06 PM
Originator Compensation Conference Call; Reducing Fraud with Freddie; AOTs vs. Direct Trades; Fannie Mae Econ Outlook; New Relock Policies
Thu, Sep 16 2010, 10:15 AM
I bet secondary desks who were waiting to pair off a few hedges are now breathing a sigh of relief as production coupon prices are following benchmark...
Thu, Sep 16 2010, 8:06 AM
Equity futures are marginally weaker and interest rates are smidge lower this morning ahead of key data on inflation, weekly jobless claims, foreign a...
Thu, Sep 16 2010, 5:24 PM
The most obvious development of the day in the bond market was the steeper shape of the TSY yield curve. 2s/10s ticked as wide as 230bps before bargai...
Thu, Sep 16 2010, 5:04 PM
While the credit quality of mortgages held by the FHLBanks is much above the industry average, they have pulled back from mortgage purchase activity.
Thu, Sep 16 2010, 3:49 PM
Foreclosure filings increased again in August according to RealtyTrac. The increase was driven by auction notices and completed foreclosures as, the ...
Thu, Sep 16 2010, 2:52 PM
REPRICES FOR THE WORSE HAVE BEEN REPORTED but the FNCL 4.0 is back in its range and a few reprices for the better have been passed along, not too many...
Thu, Sep 16 2010, 1:16 PM
Secondary market revenues are a large piece of the revenues and profits of a mortgage bank. They are predicated on both volume and GOS. A secondary m...
Wed, Sep 15 2010, 10:03 AM
Is everyone enjoying added chopatility in the bond market? Loan pricing certainly traveled a long distance over the course of the last week. What's f...
Wed, Sep 15 2010, 9:52 AM
FHA Underwater Refi Option; MBS Issuance; TBW & Freddie Mac Relief Open Access; Wells Buying USDA Product; PHH and JP Morgan Loan Purchase Agreement;
Wed, Sep 15 2010, 8:19 AM
Both benchmark interest rates and equity futures are weaker ahead of manufacturing data this morning, which is expected to report a slowdown at regio...
Wed, Sep 15 2010, 4:13 PM
Mortgage rates improved significantly on Monday and Tuesday, putting an end to a three day losing streak that pushed par home loan quotes up to 4.375%...
Wed, Sep 15 2010, 3:03 PM
REPRICES FOR THE WORSE REPORTED. REPRICES FOR THE WORSE REPORTED.
Wed, Sep 15 2010, 2:16 PM
My sister-in-law said the problem was that I was thinking like a borrower instead of a lender. I told her I would stop thinking like a borrower if th...
Wed, Sep 15 2010, 1:11 PM
Rate sheet influential MBS are holding up a bit better than TSY, but prices are still 6 ticks off the morning highs, when some lenders took down their...
