Tue, Aug 10 2010, 8:56 AM
Investors are squeamish ahead of key productivity data this morning as well as this afternoon’s policy statement from the Federal Reserve.
Before T...
Tue, Aug 10 2010, 1:05 PM
Treasury just sold $34 billion 3s. The auction went well. There were 3.31 bids submitted for every one accepted by Treasury. The high yield was lower...
Tue, Aug 10 2010, 1:00 PM
Two Federal Reserve Economists suggest that the answers to arguments over the efficacy of new stripdown provisions for bankruptcy judges actually lie ...
Mon, Aug 9 2010, 10:55 AM
August is the slowest month of the year in financial markets. Many participants have surrendered their Blackberry(s) and will be detached from reality...
Mon, Aug 9 2010, 10:19 AM
Reams of FHA updates; Fannie & Genworth; new correspondent investor; news from Wells, USB, SWS, Texas & SAFE Act
Mon, Aug 9 2010, 9:13 AM
Equity markets are expected to open higher this week despite Friday’s weak employment report, and ahead of the Federal Reserve’s policy announcement T...
Mon, Aug 9 2010, 7:33 PM
Lender rate sheets this morning are improved when compared to last weeks. The par 30 year conventional rate mortgage remains in the 4.25% to 4.50% ra...
Mon, Aug 9 2010, 4:05 PM
The Federal Housing Administration (FHA) published a new mortgagee letter on Friday laying out the details of enhancements to its Making Home Affordab...
Mon, Aug 9 2010, 1:10 PM
Fannie Mae has released their Q2 earnings report. The government sponsored enterprise (GSE) announced a shortfall of $1.2 billion, in the second quar...
Fri, Aug 6 2010, 11:11 AM
Pipeline Hedging and Profit Margins; Still Dealing with the Same Rapid Refi Rumors; Fannie's Q2 Loss; FHA Insurance Funds Dwindle; Renegotiation Polic...
Fri, Aug 6 2010, 10:23 AM
FHA Commissioner David Stevens wrote to the industry yesterday to provide a time line on the implementation of new annual and upfront mortgage insuran...
Fri, Aug 6 2010, 9:17 AM
AFTER THE EMPLOYMENT SITUATION REPORT: Stock futures sold, the dollar declined vs. a basket of currencies, oil prices plummeted, gold looks great, and...
Fri, Aug 6 2010, 9:15 AM
The Bureau of Labor Statistics has released the July Employment Situation Report. The results were disappointing.From the release:Total nonfarm payrol...
Fri, Aug 6 2010, 5:11 PM
Mortgage rates are unchanged on a week over week basis, 4.25% is still as good as it gets. Borrowers considering a refinance should submit a loan app...
Thu, Aug 5 2010, 12:32 PM
I wish I could say all is quiet with the investors out there - but I can't. So if you don't care about underwriting and policy changes, reminders, an...
Thu, Aug 5 2010, 10:17 AM
This morning one of my buddies shared a story with me. He had a loan officer ask him if it was possible to offer 4.125% to one of his consumers. Unfor...
Thu, Aug 5 2010, 8:19 AM
Ninety minutes before the bell, Dow futures are up 15 points to 10,650 and S&P 500 futures are 0.50 points at 1,124.75. The 2-year TSY note yield is l...
Thu, Aug 5 2010, 7:25 PM
The official Employment Situation report is slated to be released this Friday at 8:30am eastern. This event holds the most potential to move mortgage ...
Thu, Aug 5 2010, 2:29 PM
RISK REPORT: Borrowers who are on a timeline of less than 30-days to closing face the most interest rate risk. The farther out your closing date is, t...
Thu, Aug 5 2010, 1:15 PM
The Department of the Treasury has announced the second round of awards under its 4HM or Help for the Hardest-Hit Housing Market Fund established by P...
Wed, Aug 4 2010, 12:11 PM
Countrywide Settles Suit But Admits No Wrongdoing; How Secondary Prices Loans; Earnings from PHH, Radian, Ally; Chatter on Fed MBS Purchases
Wed, Aug 4 2010, 10:47 AM
Morning data is behind us and the market is making an originator unfriendly directional move...
Wed, Aug 4 2010, 8:51 AM
As the dust continues to settle and the reality of a long, slow economic recovery sets in, one economic metric in particular will set the tone for the...
Wed, Aug 4 2010, 8:09 AM
Equity futures are trading lower this morning and interest rates are flat ahead of key employment and services data this morning. “Despite yesterday’s...
Wed, Aug 4 2010, 2:31 PM
Refinance demand continues to bolster the mortgage market as purchases account for only 22% of new loan apps. Home buyers are utilizing the FHA for lo...
Wed, Aug 4 2010, 2:09 PM
A new Fannie Mae website for borrowers provides anonymous and non-judgmental assistance for borrowers who are in difficulty with their mortgages. The...
Wed, Aug 4 2010, 2:03 PM
There is always an opportunity to grow profits without taking on additional risks. Sometimes it makes sense to engage someone to help you identify th...
Tue, Aug 3 2010, 11:35 AM
FHA Changes on the Horizon; Cross Selling Mortgages to Banking Clients; Failed MBS Trades; "Credit Repair" Fraud Case Settled;
Tue, Aug 3 2010, 8:37 AM
The WSJ published a story today implying the Federal Reserve was considering the idea of reinvesting MBS prepays back into new production TBA MBS. Rea...
Tue, Aug 3 2010, 8:19 AM
The slow summer trade is in full effect ahead of what is setting up to be a directionally significant event this Friday: NonFarmPayrolls. If the Empl...
Tue, Aug 3 2010, 5:53 PM
The "best executed" lock/float strategy comes down to finding an originator who knows the loan market, studies underwriting guidelines, and just plai...
Tue, Aug 3 2010, 2:57 PM
Two months after the tax credit expired, the national housing market is stagnate near record low levels of activity. Jobs were the issue before the ta...
Tue, Aug 3 2010, 1:12 PM
The September FNCL 4.0 is +0-10 at 102-01 and the September FNCL 4.5 is +0-10 at 104-09. These are intraday highs. Some lenders may reprice for the be...
Mon, Aug 2 2010, 10:52 AM
HVCC's Sun is Setting, Sort Of; Mega-Refinancing Rumors Dying Down; Loan Fraud Penalties;
Mon, Aug 2 2010, 9:31 AM
The Week Ahead: Employment Situation Report, Pending Home Sales, ISM, Treasury Auction Terms, Construction Spending, Personal Income & Outlays,
Mon, Aug 2 2010, 8:06 PM
The "best executed" lock/float strategy comes down to finding an originator who knows the loan market, studies underwriting guidelines, and just plai...
Mon, Aug 2 2010, 4:53 PM
Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of orig...
Mon, Aug 2 2010, 3:44 PM
Governments are cutting education funding, emergency budgets, police overtime, parks and recreation allocations, fire fighter training, etc, etc, etc....
Mon, Aug 2 2010, 3:32 PM
If you're a loan officer, I think the best advice I can offer is: Lock after you've gotten the file far enough to foresee an underwriting decision and...
Fri, Jul 30 2010, 12:23 PM
The dormant USDA Section 502 rural housing program was revived by Congress yesterday and a House committee approved a bill to encourage owners of HUD ...
Fri, Jul 30 2010, 11:10 AM
Rate sheet influential mortgage-backs are experiencing some localized weakness/relief. Nominally, spreads have been wider all morning but price level...
Fri, Jul 30 2010, 11:05 AM
After visiting over 100 shops in the past 3 years, we haven't really seen anything “new under the sun” in terms of loan officer agreements. Sometimes ...
Fri, Jul 30 2010, 9:35 AM
Rapid Refinance Program:Don't Bet On It; Mortgage Insurers Extend Losing Streak; More Discussion on Investor Overlays
Fri, Jul 30 2010, 8:29 AM
A busy day awaits the markets as investors get their first look at second-quarter GDP. Also in the store is the influential Chicago Business Barometer...
Fri, Jul 30 2010, 4:44 PM
ALERT: There are some lenders out there, if the APP--to-->CLOSING process is flawless, where a borrower could close at 4.25% right now, without paying...
Thu, Jul 29 2010, 12:31 PM
The Administration has begun to telegraph its intentions to move forward with reforms of the housing finance system. A conference will be held next m...
Thu, Jul 29 2010, 12:06 PM
I recently spoke on two interesting panels at the American Conference Institute’s two day symposium on Reverse Mortgages. The conference attracted a ...
Thu, Jul 29 2010, 9:51 AM
Final Ruling Issued on SAFE Act; Underwriting Guideline Overlays, Adverse Market Fees and Steep LLPAs; CMBS Sales; California State of Emergency;
Thu, Jul 29 2010, 9:33 AM
The Census Department released its survey of Residential Vacancies and Homeownership for the second quarter of 2010 which indicated that vacancies of ...
Thu, Jul 29 2010, 8:30 AM
Equity futures are trading higher this morning despite word from Moody’s that it would have to question America’s triple-A credit rating unless it pr...
