Thu, Jul 29 2010, 1:09 PM
I hinted at this observation this morning but I will expand. The last time 10s broke through 3.00%...it was during an auction week. It just so happene...
Wed, Jul 28 2010, 11:44 AM
Front-month TBA levels set yet another new record high this morning and yield spreads continued to tighten vs. benchmarks. While the street more than ...
Wed, Jul 28 2010, 11:25 AM
Home Builder Rankings; Updates from HUD and Fannie; Home Ownership Stats; FHA Sanctions;
Wed, Jul 28 2010, 9:25 AM
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 23, 2010. Mortgage loan applic...
Wed, Jul 28 2010, 8:26 AM
The September Delivery FNCL 4.0 is +0-03 at 101-15. The FNCL 4.5 is +0-03 at 103-25. The secondary market current coupon is 1.2bps lower at 3.747%. Yi...
Wed, Jul 28 2010, 4:16 PM
I suppose the first step of this scenario coming true is the "double-dip". Some folks say the deflationary spiral has already taken hold, others say w...
Wed, Jul 28 2010, 3:33 PM
We all know the mortgage business can be extremely profitable at times. We also know it can be disastrous at other times. Regulators and law makers h...
Wed, Jul 28 2010, 3:18 PM
HUD and FHA opened a public comment period on Thursday on another series of changes to underwriting guidelines, including the reduction of seller conc...
Wed, Jul 28 2010, 2:24 PM
Nearly all Districts reported sluggish housing markets in the months since the homebuyer tax credit expired on April 30. While some Districts, such as...
Tue, Jul 27 2010, 10:26 AM
Housing’s image certainly is as battered as it’s ever been. Responsibility for this last recession is rightfully borne by a mortgage market on steroid...
Tue, Jul 27 2010, 9:07 AM
US MAY HOME PRICES IN 20 METRO AREAS RISE 0.5 PCT SEASONALLY ADJ (CONSENSUS 0.2 PCT) VS 0.6 PCT IN APRIL - S&P/CASE-SHILLER
Tue, Jul 27 2010, 8:41 AM
The S&P broke key resistance yesterday, this morning those advances are being extended and interest rates are trending higher.
Tue, Jul 27 2010, 7:08 PM
Stocks rallied after S&P/Case-Shiller data, but sold off after Consumer Confidence flashed. This created a bit more volatility in the bond market. Bot...
Tue, Jul 27 2010, 1:51 PM
The only reason I'm not saying this auction was terrible is because yields were so low prior to the issue that it likely kept some accounts on the sid...
Tue, Jul 27 2010, 1:47 PM
FHA has published the names of over 1,000 lenders who have been sanctioned over the past months. Penalties include temporary or permanent suspension f...
Tue, Jul 27 2010, 1:31 PM
Buyback Risk Locks Some Borrowers Out of Refi Market; Jawboning on Fannie and Freddie; Anecdotes from the Trenches; Correction on HARP; Treasuries vs....
Mon, Jul 26 2010, 11:53 AM
The last time S&Ps moved over 1,100, the 10 year note touched 3.12%, but that was right before the Treasury auctioned debt supply in the long end of t...
Mon, Jul 26 2010, 10:03 AM
New Home Sales in June rebounded from historic lows in May. Attention should be given to the fact that May survey data was revised from 300,000 new ho...
Mon, Jul 26 2010, 9:56 AM
Lots of Investor Updates; Fannie HARP vs. Freddie HARP; Originator Rankings: Wells, BoA, Chase, GMAC, Citi...
Mon, Jul 26 2010, 8:45 AM
Ahead of Friday’s look at second-quarter GDP, economists at BMO Capital Markets noted that earnings results have been mostly positive so far. “Even if...
Mon, Jul 26 2010, 4:42 PM
When asked "What Will Move Mortgage Rates in the Week Ahead?", our answer is NOTHING! That is unless the herd of investors who've parked their money i...
Fri, Jul 23 2010, 12:00 PM
These "stress tests" are just an exercise in improving confidence. The results are hypothetical and don't prove or disprove anything. If we were to ge...
Fri, Jul 23 2010, 10:54 AM
Investor Group Challenges Loan Servicers; Loss Mitigation Recommendations; What is "WillCap" and Who is "Talcott Franklin"?; EU Bank Stress Tests
Fri, Jul 23 2010, 9:03 AM
No significant data is released in the US, but the European Central Bank will release the results of bank stress tests. A survey of 376 investors and ...
Fri, Jul 23 2010, 3:34 PM
A mismatch between credit standards and the credit and collateral supplied by homeowners. Plus, the looming threat of a buyback always creates some so...
Fri, Jul 23 2010, 3:07 PM
I recently visited two direct lender shops for a warehouse FOCIS review study. These lenders generated leads from two different sources: Radio and In...
Thu, Jul 22 2010, 10:24 AM
Nothing has changed since last year, the tax credit just covered up structural weakness at the core of housing demand.
Thu, Jul 22 2010, 8:33 AM
Uncertainty is the only certainty and short-term tactical (non-committal) biases determine directionality. It's still a trader's world and we're still...
Thu, Jul 22 2010, 8:23 AM
Equity futures look set to erase yesterday’s afternoon losses.
Ninety minutes before the opening bell, Dow futures are soaring 101 points higher a...
Thu, Jul 22 2010, 5:44 PM
Even though rate sheet influential MBS coupons backed away from newly set (again) price levels as risk markets rallied today, rate sheets were 7.4bps ...
Thu, Jul 22 2010, 4:48 PM
Although mortgage-backed security prices moved lower today, lenders still improved consumer borrowing costs, extending the streak of irregular mortgag...
Thu, Jul 22 2010, 1:33 PM
Underwriters & Processors Included in SAFE?; Mortgage Volume vs. Profits; Reader Quotes on L.O Compensation; Movement Seen in Commercial Sector
Wed, Jul 21 2010, 12:43 PM
Rate sheets are about 40bps worse on average over the past three days and the FNCL 4.0 is 8 ticks of the high print seen on Friday. 8 ticks = 0.375% s...
Wed, Jul 21 2010, 10:45 AM
"As rates on 30- and 15-year fixed-rate mortgages declined to the lowest levels recorded in the survey, refinance activity increased last week. The r...
Wed, Jul 21 2010, 10:40 AM
Solid Earnings from Wells and MGIC; High Quality Loan Production; Labor Unions Threaten Big Banks; VA Underwriting Update
Wed, Jul 21 2010, 8:34 AM
The stock market is looking to build upon yesterday’s gain, which were partially driven by rumors that the Federal Reserve was considering the idea of...
Wed, Jul 21 2010, 7:05 PM
Because mortgage rates are near all time lows, more and more consumers (not as many as last year) are coming down off their fences and applying for a...
Wed, Jul 21 2010, 2:39 PM
The second edition of the administrations composite housing score card covers a number of indices on the state of the housing market. New this month ...
Tue, Jul 20 2010, 12:47 PM
Lower loan volume and a decreased pull-through rate led to higher production costs and reduced profits for independent mortgage companies and subsibia...
Tue, Jul 20 2010, 10:55 AM
Small Banks Behind on TARP Repayment; More Opinions on Mortgage Reform; Home Builders Outsold by REO Inventory Holders; MGIC & RMIC Updates
Tue, Jul 20 2010, 9:42 AM
FHA Commissioner David Stevens wrote to the industry today. He discusses over exuberant underwriting standards, lender accountability, and sustainable...
Tue, Jul 20 2010, 9:08 AM
Stock futures are lower and interest rates are rallying after several key earnings releases failed to impress the markets. June Housing Starts and Bui...
Tue, Jul 20 2010, 8:11 PM
Mortgage rates have not been following the directional guidance of MBS prices lately. The best mortgage rates have been holding in the 4.375 to 4.625%...
Tue, Jul 20 2010, 6:31 PM
After a huge improvement in May, multi-family housing starts led the overall starts number lower with a 26,000 unit decline. Single-family starts fell...
Tue, Jul 20 2010, 1:52 PM
Just as they did yesterday, stocks are making a push higher as we head into the close. While the "flight to safety" is losing some of its luster as ri...
Mon, Jul 19 2010, 12:19 PM
Upon first inspection loan pricing looked better this AM, then I got a few more rate sheets and realized that wasn't the case. Two of the major lender...
Mon, Jul 19 2010, 11:57 AM
Fannie & Freddie Better Together?; Plenty of Investor Updates; Broker Compensation Bill Opinion;
Mon, Jul 19 2010, 10:57 AM
Rate sheet influential MBS just fell from the session highs to the session lows. The September FNCL 4.0 is -0-06 at 101-10. The FNCL 4.5 is -0-03 at 1...
Mon, Jul 19 2010, 9:06 AM
The events calendar in the week ahead focuses on the health of housing, the Federal Reserve's semi-annual report to Congress, a deluge of earnings, an...
Mon, Jul 19 2010, 4:48 PM
This BIG PICTURE uncertainty favors floating interest rates on a 45 day time line, but you better be ready to deal with added amounts of chopatility....
