Wed, Jul 7 2010, 3:06 PM
Is the rise in the refi index a factor of new borrowers entering the refi market or is it a factor of borrowers re-locking at another lender for a low...
Tue, Jul 6 2010, 12:53 PM
Most lenders took down pricing indications when MBS were bid 6-10 ticks lower than current levels. While some desks may reprice for the better, the F...
Tue, Jul 6 2010, 10:55 AM
The Department of Housing and Urban Development has released preliminary data from its 2009 American Housing Survey showing that American homes are bi...
Tue, Jul 6 2010, 9:43 AM
I will say the same thing about this round of MBS sales rhetoric that I said about the Fed's first few attempts to breach the subject: selling MBS hol...
Tue, Jul 6 2010, 9:41 AM
Tax Credit Closing Deadline Extension Signed; Appraisal Chatter; Lender Update, Job Postings
Tue, Jul 6 2010, 8:48 AM
Equity futures are on the rise this morning after stock markets changed tone from last week and rallied globally. The holiday-shortened week ahead is ...
Tue, Jul 6 2010, 4:47 PM
Not much in the way of scheduled data to move the markets this week. Typically, in weeks like this, the bond market and mortgage rates take their dire...
Tue, Jul 6 2010, 1:51 PM
Six years ago Joe Garrett and I co-authored an article called "The Seven Deadly Sins of Mortgage Bankers". The article examined seven key mistakes ma...
Fri, Jul 2 2010, 10:38 AM
Mortgages are trading in light volume with minimal supply on screens. The range trade is obvious. The August delivery Fannie Mae 4.0 MBS coupon is -0-...
Fri, Jul 2 2010, 9:22 AM
National Flood Insurance Program Extended; Originator ID Requirements; Electronic Loan Apps; NAMB Call to Action
Fri, Jul 2 2010, 8:30 AM
Stock futures trade higher initially but are currently back to pre-NFP levels. The 10yr note has rallied 2.6bps lower to 3.929%. The August FNCL 4.0 i...
Fri, Jul 2 2010, 8:07 AM
The general media thought last month’s Nonfarm Payrolls / Employment Situation report was bad, but June’s report promises to be much worse. Thanks to ...
Fri, Jul 2 2010, 6:41 PM
"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in." Theodore Roosevelt
Fri, Jul 2 2010, 6:06 PM
It really didn't. Not today at least. It did yesterday though, and Monday, and Tuesday, and Wednesday. After a streak of worse than expected economic ...
Fri, Jul 2 2010, 1:03 PM
One way to get a picture of homelessness is to look at data collected by HUD during a single night when canvassers nationwide look in shelters, abando...
Thu, Jul 1 2010, 11:56 AM
The benchmark 10 year note yield is back below 3.00% and mortgage rates are at lifetime lows. Hello homeowners! Why isn’t everyone (who can qualify)...
Thu, Jul 1 2010, 11:30 AM
Late Wednesday night the Senate followed the lead of the House of Representatives and voted to extend the closing deadline for the popular homebuyer t...
Thu, Jul 1 2010, 10:04 AM
A flurry of data just flashed...it was disappointing
Thu, Jul 1 2010, 9:37 AM
Top Mortgage Underwriters in H1 2010; MBS Issuance Jumps; Tax Credit Update; AUS Flipping; Lending Profits Rebound; Updates from BofA, PHH, Lenders On...
Thu, Jul 1 2010, 8:06 AM
Equity futures are flat this morning ahead of key labor, manufacturing, and housing data. Ninety minutes before the opening bell, Dow futures are down...
Thu, Jul 1 2010, 6:35 PM
f you're floating you should be conscious of this observation, especially if you're writing a note rate close to par. These mortgage rates are the mos...
Thu, Jul 1 2010, 5:38 PM
The par 30 year conventional rate mortgage remains in the 4.375% to 4.625% range for well qualified consumers but borrowing costs were slightly higher...
Thu, Jul 1 2010, 1:08 PM
The Pending Home Sales Index, a forward-looking indicator, dropped 30.0 percent to 77.6 based on contracts signed in May from a reading of 110.9 in Ap...
Wed, Jun 30 2010, 11:58 AM
Overall, these observations imply uncertainty is the only certainty in the marketplace. While this is to be expected ahead of a major economic event (...
Wed, Jun 30 2010, 11:39 AM
As lenders have begun repossessing homes at record levels over the first half of 2010, it will be interesting to watch how they will manage the invent...
Wed, Jun 30 2010, 9:16 AM
Amid continuing financial market volatility, mortgage rates dropped again last week, with rates on 15-year loans reaching a record low for the MBA sur...
Wed, Jun 30 2010, 8:55 AM
Homebuyer Tax Credit Fraud; Reasons for 203(K) Loans; SAFE Act and NMLS Registry; Mortgage Jobs; Another Refi Boom Coming?
Wed, Jun 30 2010, 8:06 AM
Equity futures are looking for a brighter open this morning after the European Central Bank said it would lend 171 banks a total of €131.9 billion for...
Wed, Jun 30 2010, 6:15 PM
This week, the Federal Reserve Bank of New York Open Market Trading Desk (the Desk) began conducting a limited amount of agency mortgage-backed securi...
Wed, Jun 30 2010, 4:46 PM
FHA Commissioner David Stevens wrote to the industry today. He discussed RESPA reform and provided and update on the implementation of the SAFE Act.
Wed, Jun 30 2010, 4:32 PM
The relentless mortgage rate rally continued yesterday. Lenders were seen offering the most aggressive loan pricing of our lifetime, again, as stocks ...
Wed, Jun 30 2010, 2:35 PM
According to the Mortgage Bankers Association (MBA)'s Annual 2009 Mortgage Bankers Production Survey released on Wednesday, profits on the average loa...
Tue, Jun 29 2010, 11:39 AM
Upon inspection, it looks like loan pricing is more aggressive today than it was last Wednesday. Are my spreadsheets lying to me or is that an accurat...
Tue, Jun 29 2010, 10:37 AM
Financial Reform's Impact on Mortgage Lenders; Fed MBS Coupon Swaps; Pipelines Still Not Filled; Investor Updates
Tue, Jun 29 2010, 9:02 AM
The April S&P/Case-Shiller Home Price Index has been released. Data was better than expected. Stock futures and interest rates really didn't react to...
Tue, Jun 29 2010, 8:17 AM
Equity futures are tracking global stocks sharply lower this morning as investors await key housing price data and results from a consumer confidence ...
Tue, Jun 29 2010, 6:43 PM
Lets review recent events. As euro crisis contagion exhausted itself in May, stocks began to rise from long-term support levels. Short covering led to...
Tue, Jun 29 2010, 5:29 PM
The House backed a measure to extend the closing deadline to Sept. 30 for buyers who met the April 30 deadline to have a signed contract. The current ...
Tue, Jun 29 2010, 5:16 PM
The Obama Administration's Strategic Plan to End Homelessness released last week is a pretty thorough examination of the state of the problem in the U...
Mon, Jun 28 2010, 9:54 AM
Homebuyer Tax Credit Closing Deadline Looms; Why Borrowers Can't Refinance; Advice From an Appraiser; Lenders Who Buy 203(K) Product
Mon, Jun 28 2010, 8:28 AM
Equity futures are trading higher after G20 leaders pledged to cut government deficits and decided to drop a 2012 deadline for banks to adopt more str...
Mon, Jun 28 2010, 5:15 PM
The 10 year note is all set for a test of 3.00% and S&Ps are ready to see how strong 1070 support really is....if this trade plays out overnight into ...
Mon, Jun 28 2010, 5:00 PM
Just like last week, the economic calendar in the week ahead is not jammed packed but it does contain a couple of influential data points. The most im...
Mon, Jun 28 2010, 1:19 PM
Did you notice how aggressively lenders were priced this morning? A few rate sheets were over 50 bps better on 4.625, 4.50, and 4.375% notes! While mo...
Mon, Jun 28 2010, 1:01 PM
The issue that has caused the biggest problem for reverse mortgage lenders: when borrowers don't pay their the property taxes and hazard insurance. ...
Fri, Jun 25 2010, 11:56 AM
Delinquencies in the Freddie Mac mortgage portfolio appear to be leveling off according to the monthly volume summary released today. The portfolio s...
Fri, Jun 25 2010, 10:01 AM
Don't be surprised if secondary marketing is a little under the weather today. You will likely experience modest delays as lock desks are now sorting ...
Fri, Jun 25 2010, 9:49 AM
Lenders Prepare For Tax Credit Deadline; Fin Reg Compromise Done; Appraisal Issues; SAFE Act Update
Fri, Jun 25 2010, 8:12 AM
Equity futures are pointing higher this morning after the House and Senate agreed to a final version of what’s being called the the biggest regulatory...
Fri, Jun 25 2010, 4:39 PM
If we're really headed for a double dip, interest rates will surely move lower. I'm just not sure how much further mortgage rates can fall though...
