Wed, Jan 13 2010, 4:29 PM
Mortgage Rates improved yesterday afternoon into this morning, however these gains were lost after the 10 year Treasury auction today. While positive ...
Wed, Jan 13 2010, 3:45 PM
Wed, Jan 13 2010, 3:24 PM
Most mortgage bankers don’t want to talk about or deal with investor loan repurchase requests, but they are not going to miraculously disappear throug...
Wed, Jan 13 2010, 2:04 PM
Wed, Jan 13 2010, 1:03 PM
MBS prices are falling after the auction...LENDERS MAY REPRICE FOR THE WORSE
Tue, Jan 12 2010, 12:50 PM
So far today yesterday's modest improvements have extended over into today, however instead of being "modest", the gains have been substantial! This ...
Tue, Jan 12 2010, 10:43 AM
Tue, Jan 12 2010, 10:28 AM
Oregon's SAFE Act; VA Loan Limits; USDA Primer; Fed Stats;
Tue, Jan 12 2010, 8:34 AM
I am taking profits ahead of the looming auction cycle...we still have $74billion in TSY notes to be auctioned. I am however feeling like my strategy...
Tue, Jan 12 2010, 7:58 AM
The Q4 earnings session began on the wrong foot after the closing bell yesterday as Alcoa reported a worse than anticipated loss of $277 million. This...
Tue, Jan 12 2010, 5:26 PM
Tue, Jan 12 2010, 4:28 PM
The companies were among a number of direct endorsement companies HUD and OIG are scrutinizing because of a significant number of claims, a certain le...
Tue, Jan 12 2010, 3:35 PM
The first of three auctions is behind us. As MG noted the direct bid was HUGE. While I do think its great that the likes of PIMCO and Vanguard are pro...
Tue, Jan 12 2010, 2:17 PM
In spite of issuing a disquieting set of projections for the mortgage industry last month, the Mortgage Bankers Association managed to issue even grim...
Tue, Jan 12 2010, 2:00 PM
Many mortgage banking CEOs are past production people that believe a company’s success is based on growing production. Production is part of the equa...
Tue, Jan 12 2010, 1:59 PM
Top Mortgage Servicers; Should Lenders Be Worried; Failed Bank Update; The Dornbusch Law; Keeping GMAC Alive
Tue, Jan 12 2010, 1:00 PM
Despite a slight bit of initial weakness, the charts are in fine position as the 10yr is holding one of it's more aggressive support levels at 3.73. ...
Mon, Jan 11 2010, 11:53 AM
While I have outlined a theory that instills hope in the hears of fence sitters and float boaters in the short run, AGAIN I must remind that our overa...
Mon, Jan 11 2010, 10:36 AM
SAFE Act Requires Credit Worthy Originator; RESPA Impact on VA Loans; Reverse Mortgage REMIC, Various investor updates
Mon, Jan 11 2010, 8:53 AM
The FN 4.5 is +0-07 at 100-10 yielding 4.476%. I do not like to create confusion about the extent to which mortgages are tied to the movements of benc...
Mon, Jan 11 2010, 8:31 AM
Equity futures are firmly higher this morning as global markets react to December data from China showed exports jumping 17.7% compared to one year ag...
Mon, Jan 11 2010, 5:14 PM
Mon, Jan 11 2010, 3:33 PM
Gain on Sale revenue leakage and wine leakage from barrels is not good for either business. Any leakage is a waste and reduces the opportunity to mak...
Mon, Jan 11 2010, 3:26 PM
If you haven't read the following description of the agency MBS settlement process...please dont skip over it as it may save you from having to change...
Mon, Jan 11 2010, 2:25 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be similar to Friday’s. The par 30 year conventional mortgage rate remains ...
Mon, Jan 11 2010, 1:45 PM
Mon, Jan 11 2010, 1:44 PM
Banks currently have a low cost of funds, but only a handful of low risk/high return investment options (borrow short and lend long) with which to put...
Mon, Jan 11 2010, 1:33 PM
We’ve come a long way, but it still takes up to 30 days to get a loan funded after the loan application is taken by the loan officer. It’s interestin...
Mon, Jan 11 2010, 1:33 PM
We’ve seen state regulators impose six figure fines on companies for violation of state regulations. And the repurchase of one loan and corresponding...
Mon, Jan 11 2010, 1:33 PM
One of the major job responsibilities of a branch manager is to locate and hire loan officers. Recruiting is not easy and it takes time to find, recr...
Mon, Jan 11 2010, 1:33 PM
I had a meeting last week with another mortgage banker that is wrestling with the decision to stick it out on his own, partner with a stronger better ...
Mon, Jan 11 2010, 1:32 PM
Barriers of entry are increasing and will push out many players. Capital and a solid balance sheet are going to be paramount to compete as a mortgage...
Mon, Jan 11 2010, 1:32 PM
In short, CDS are a type of insurance policy that protects bond holders in the event of a default. Let’s look at a simple example of the use of a CDS...
Mon, Jan 11 2010, 1:32 PM
Several years ago, at the beginning of the subprime meltdown, I had the opportunity to audit a large national subprime company. I was hired by their ...
Mon, Jan 11 2010, 1:32 PM
Early this year I attended a loan production seminar in Lake Tahoe sponsored by C.O.R.E. Both loan officers and production managers were present at t...
Mon, Jan 11 2010, 1:31 PM
Our focus on Loss Mitigation is the process mortgage bankers have developed to manage issues such as early payment defaults (EPDs), repurchase request...
Mon, Jan 11 2010, 1:31 PM
The quality of senior management drives the entire performance of a firm. A typical mid-sized mortgage company will be organized with a CEO and a CFO...
Mon, Jan 11 2010, 1:30 PM
The Texas Ratio is one measure of a bank’s financial strength and sometimes is an indicator of banks that may fail. It is calculated by dividing the v...
Mon, Jan 11 2010, 1:29 PM
We talked yesterday about the opportunity for community banks to partner with a mortgage banker. If a community bank is not interested in the mortgag...
Mon, Jan 11 2010, 1:28 PM
We heard this over and over again this year: The wholesale business is dead and brokers aren’t going to survive. Everyone hates this business model f...
Mon, Jan 11 2010, 1:28 PM
Wine sales are driven by the ratings of 3-4 wine publications such as Wine Spectator. A higher rating from these publications boosts the sales and pr...
Mon, Jan 11 2010, 1:28 PM
We recently reviewed a company that had a pretty good prefunding quality control process. Every loan is audited before funding. Based on what we’ve s...
Mon, Jan 11 2010, 1:28 PM
One of the studies we perform for mortgage bankers is a review of the capital markets area. We review various policies and procedures, controls, hedg...
Mon, Jan 11 2010, 1:28 PM
As mortgage banking consultants and advisers, we have an opportunity to talk to many folks in our industry on a daily basis. These folks come from al...
Mon, Jan 11 2010, 1:27 PM
While origination is a pivotal part of the process (without it there would be no loan cycle)...heading into the new era of mortgage lending, focusing ...
Mon, Jan 11 2010, 1:27 PM
As we visit mortgage operations around the country, we see many types of business models. Within the broad areas of the mortgage loan life cycle are i...
Mon, Jan 11 2010, 1:27 PM
In short, there are some parallels, though a different motivation, with the two governments’ intervention in the real estate and mortgage space. Two ...
Mon, Jan 11 2010, 1:27 PM
Over the past month, we‘ve had a few private equity groups contact us that are interested in making an investment in a mortgage banking company. Gen...
Mon, Jan 11 2010, 1:27 PM
One of the questions we ask CEOs during our FOCIS –plus review is: What do you think are the key risks confronting you in the next couple of years an...
Mon, Jan 11 2010, 1:26 PM
If the loan officer is performing much of the front end underwriting and processing using technology – lap tops, websites, PDAs and cell phones, is it...
