Fri, Jun 25 2010, 4:34 PM
The first release of lender rate sheets was interesting. MBS prices opened basically unchanged vs. closing levels yesterday, but loan pricing was much...
Thu, Jun 24 2010, 12:59 PM
I’ve talked to quite a few loan originators over the past month. My most recent conversation with a loan officer started out with an explanation of a...
Thu, Jun 24 2010, 12:09 PM
With MBS prices hitting new highs on a daily basis, lock desks and traders have able to get away with being under hedged. While this strategy works ou...
Thu, Jun 24 2010, 12:07 PM
The Mortgage Bankers Association is reporting that the delinquency rate for commercial mortgages held in mortgage backed securities has reached an al...
Thu, Jun 24 2010, 12:02 PM
House Passes Flood Insurance Extension; Servicer Short Sale Timeline Rankings; MERS & Fannie, Waiting Period Update
Thu, Jun 24 2010, 8:43 AM
4.0 MBS coupons traded yesterday. This means 4.25% mortgage rates were available on rate sheets. I heard of a market being made in 3.50s but that is p...
Thu, Jun 24 2010, 8:12 AM
Following a dizzying 33% drop in new home sales yesterday, plus a more dovish statement from the Federal Reserve, investors have become worried about ...
Thu, Jun 24 2010, 4:39 PM
Mortgage rates rallied to new all-time lows yesterday following a few disappointing housing headlines. While it has been no secret to housing industry...
Thu, Jun 24 2010, 2:33 PM
The first states to receive funds under the Administration's "HFA Hardest Hit Fund" have been announced by the Treasury Department. Arizona, Californi...
Thu, Jun 24 2010, 1:26 PM
The 7-year note auction went well...but benchmark yields are still on the rise. I would characterize the behavior of the 10yr note as "indecisive cons...
Wed, Jun 23 2010, 11:10 AM
The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent on a seasonally adjusted basis from one week earlier....
Wed, Jun 23 2010, 10:53 AM
HVCC Future in Doubt? FHA Getting Ahead of Defaults; CRA Changes; Reverse Mortgage Issues; MGIC Update
Wed, Jun 23 2010, 9:59 AM
Sales of new single-family houses in May 2010 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by t...
Wed, Jun 23 2010, 8:44 AM
Lenders are delaying the release of loan pricing until the market makes a directional move around 10am. If New Home Sales disappoint, stocks will turn...
Wed, Jun 23 2010, 8:29 PM
MBS prices are at all-time highs (AGAIN) and I think we can officially say mortgage rates are priced at their best levels ever. If not, we're pretty d...
Wed, Jun 23 2010, 8:09 AM
Investors are optimistic this morning ahead of the central bank’s afternoon policy announcement. Sentiment could easily change early into the session,...
Wed, Jun 23 2010, 3:49 PM
Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fa...
Wed, Jun 23 2010, 2:30 PM
The FOMC Statement has been released. The subtle alterations made to the statement were skewed to the bearish side of the BIG PICTURE storyline. This...
Wed, Jun 23 2010, 2:24 PM
The first quarter report on mortgage metrics from the Offices of Thrift Supervision and Comptroller of the Currency duplicate findings from other rece...
Wed, Jun 23 2010, 1:00 PM
This was a brutal auction! Blame the flight to safety yesterday...this issue was too expensive! The August Fannie Mae 4.5 MBS coupon lost 4 ticks in p...
Tue, Jun 22 2010, 12:45 PM
An interagency council composed of 19 federal departments and agencies today released a strategic plan for dealing with homelessness among veterans, f...
Tue, Jun 22 2010, 11:52 AM
The Departments of Housing and Urban Development and Transportation will coordinate funding awards for planning projects linking housing and transport...
Tue, Jun 22 2010, 11:36 AM
Credit Unions Still Offer HELOCs; FinReg Reform Update; HUD Guidance on FHA Approval; More Investor Bulletins
Tue, Jun 22 2010, 10:32 AM
10:00 22Jun10 RTRS-US MAY EXISTING HOME SALES 5.66 MLN UNIT ANNUAL RATE (CONS 6.12 MLN) VS APRIL 5.79 MLN (PRV 5.77)-NAR
10:00 22Jun10 RTRS-US MAY EX...
Tue, Jun 22 2010, 8:42 PM
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted an...
Tue, Jun 22 2010, 8:08 AM
The "Keep It Simple Stupid" theory seems to be the most fitting method of market watching these days. Investment horizons are short and while particip...
Tue, Jun 22 2010, 8:05 AM
The market's confidence in China’s decision to loosen its peg to the U.S. dollar ended up fizzling out before the close yesterday, leaving stocks flat...
Tue, Jun 22 2010, 5:57 PM
Mortgages traded to new record price highs today. The low production volume origination environment continues to support favorable "rate sheet influen...
Tue, Jun 22 2010, 3:13 PM
We’ve talked a lot about how it makes sense for an originator to latch onto a commercial or federally chartered national bank. Net worth, state licen...
Tue, Jun 22 2010, 1:32 PM
If you are hoping for reprices you should be watching the August FN 4.5 MBS coupon (and the 4.0), which is currently +0-08 at 102-27. It is possible t...
Mon, Jun 21 2010, 12:37 PM
The mixed messages offered by the market in previous weeks have evolved into no messages. In June, we've witnessed irrational interest rate reactions ...
Mon, Jun 21 2010, 12:06 PM
Extensive Lender Upates Only an Underwriter Would Love; MBA Loan Buyback Seminar; Real Yield
Mon, Jun 21 2010, 8:56 AM
There are indications that players in Washington and elsewhere are beginning to look at housing and housing policy in a more holistic way that has bee...
Mon, Jun 21 2010, 8:49 AM
“Although the federal homebuyer tax credit expired at the end of April, contracts do not need to be closed until the end of June,” noted economists at...
Mon, Jun 21 2010, 5:21 PM
Thinking forward, because loan officers are closing their loans (pull-through!) and commitment buckets aren't losing much water (salable loan paper), ...
Mon, Jun 21 2010, 4:53 PM
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today introduced a monthly scorecard on the nation'...
Mon, Jun 21 2010, 4:18 PM
Although the economic calendar isn't jammed packed in the week ahead, the data and events on the ballot carry more potential to move interest rates. W...
Mon, Jun 21 2010, 3:04 PM
HUD annual report to Congress on the incidence of homelessness found a slight decrease in the numbers of unsheltered homeless but an increase in the n...
Fri, Jun 18 2010, 10:35 AM
Don't Hold Your Breath For HELOCs; Extra Margin In Rate Sheets; 2009 Tax Transcripts Available; Reminder on Originator IDs
Fri, Jun 18 2010, 7:34 AM
Plain and Simple: the recent stock market rally has yet to grow legs of its own as forced buying has led the indexes higher. This leaves equities susc...
Fri, Jun 18 2010, 1:02 PM
Four federal banking regulators have announced a proposed change to Community Redevelopment Act definitions which would allow local banks and thrifts ...
Thu, Jun 17 2010, 12:33 PM
Over the course of the last decade, many mortgage bankers implemented a "Russian Roulette" approach to managing the risks associated with originating ...
Thu, Jun 17 2010, 10:34 AM
The majors published pricing pretty early this morning...when production coupons were at lower levels. Since then stocks have pulled a complete 180. S...
Thu, Jun 17 2010, 10:31 AM
HAMP Redefault Rate; Underwriters on Watch for Rent Buyback and Short Sale Schemes; TBW CEO Fraud Case; MBS Volume
Thu, Jun 17 2010, 8:25 AM
The Consumer Price Index should be less impacted by oil prices than the producer price index, but the direction is expected to be the same. Initial Jo...
Thu, Jun 17 2010, 7:07 AM
S&Ps opened lower and traded higher before closing near the same level they opened yesterday. This tells us the stock market is indecisive after S&Ps...
Thu, Jun 17 2010, 4:31 PM
It was another volatile day in the markets. Stocks traded in a wide range before eventually closing in positive territory. Interest rates seem to now ...
Thu, Jun 17 2010, 1:08 PM
The FBI has released the 2009 Mortgage Fraud Report. This report addresses current mortgage fraud projections, issues, and the identification of mort...
Wed, Jun 16 2010, 12:49 PM
The SEC has charged another former mortgage executive with fraud in a scheme intended to scam at least $1.5 billion from private investors and the U.S...
Wed, Jun 16 2010, 11:32 AM
Under orders from their conservator, Freddie Mac and Fannie Mae will begin the necessary process of delisting their common and preferred stocks from t...
