Thu, May 27 2010, 3:56 PM
As with a conventional mortgage, there are costs associated with a reverse mortgage. While perceived as high, once understood you’ll see the reverse ...
Thu, May 27 2010, 3:27 PM
The Federal Home Finance Agency is opening a 45 day public comment period on new rules to establish a framework for setting Federal Home Bank Loan hou...
Thu, May 27 2010, 1:09 PM
Average auction. Demand was there but at higher yields. We're lucky stocks weren't selling today because this issuance would have gone worse if yields...
Wed, May 26 2010, 11:55 AM
Bank foreclosure activity is putting more distressed inventory on the market and making it harder for appraisers to justify their choice of comps. It'...
Wed, May 26 2010, 11:50 AM
Perspective on Fannie & Freddie's UMDP; Flood Insurance Expiration; Fed's Credit Card Website; More Lender Updates!
Wed, May 26 2010, 10:15 AM
U.S. equities rallied into the close yesterday. This momentum extended into the overnight session all the way into this morning. A WAY BETTER THAN EXP...
Wed, May 26 2010, 8:29 AM
With the OECD upgrading its global outlook for 2010 and 2011 growth, investor confidence is back on track this morning. Equities are trading much high...
Wed, May 26 2010, 5:45 PM
Rate sheet influential MBS valuations had another volatile day thanks to some violent swings in the stock market. We did however make it through norma...
Wed, May 26 2010, 5:32 PM
The stock market rally that began yesterday afternoon extended into overseas trading last night and into this morning's trading session. Optimism in e...
Wed, May 26 2010, 2:33 PM
FHFA Director Ed DeMarco said that the study found that Fannie Mae and Freddie Mac remain "critical supervisory concerns." While the two government s...
Wed, May 26 2010, 2:05 PM
Our fate rests mostly in the stock lever. If the S&P breaks 1090 and 10s push through 3.25% support...reprices for the worse are likely. Some smaller ...
Tue, May 25 2010, 10:44 AM
I recently attended a Board of Directors meeting of a mid-size commercial bank that owns a mortgage banking operation. I was invited to make a presen...
Tue, May 25 2010, 10:28 AM
The Federal Home Loan Finance Agency has announced plans for new data standards and an electronic portal for uniform collection and submission of appr...
Tue, May 25 2010, 10:14 AM
Loan Quality Initiative Reminder; Pricing Discrepancies Explained; More Mortgage Jobs; Primer On Case-Shiller Index; Plenty Of Investor Updates
Tue, May 25 2010, 9:38 AM
Housing did nothing to reverse the risk averse bias in stocks. The flight to quality into government bonds continues...mortgage rates should improve t...
Tue, May 25 2010, 7:39 AM
U.S. equities are indicated lower and the flight to safety is back in style after stock markets sold off around the world in the overnight session. Co...
Tue, May 25 2010, 6:29 PM
Overnight, stock markets around the world sold off due to continued debt concerns across Europe and tensions between North and South Korea. Stocks ope...
Tue, May 25 2010, 5:45 PM
MBS close +8 ticks on the day, at 102-11, but that's off highs around 102-15. 10yr notes have backed up aggressively and directionally, rising from 3....
Tue, May 25 2010, 3:38 PM
The big question everyone is asking: The Home Buyer Tax Credit Has Expired. Will Home Sales Improve, Contract, or Go Sideways?
Tue, May 25 2010, 3:30 PM
Thrift institutions in the U.S. posted the third consecutive quarter of profitability according to data released on Monday by the Office of Thrift Sup...
Tue, May 25 2010, 2:17 PM
In and of itself, the auction wasn't good, at least not when comparing metric to metric vs recent averages. But how much should we have expected thos...
Mon, May 24 2010, 10:52 AM
Extensive Updates From Citi and Chase; Extended Lock Fees; NMLS Deadlines; Approved Fraud Detection Vendors; Quarterly Bank Performance;
Mon, May 24 2010, 10:19 AM
Stocks and bonds traded in a volatile manner last week as cash continued to seek out a liquid marketplace. Risk aversion remains the favored strategic...
Mon, May 24 2010, 8:47 AM
Housing data, the secondary marketing conference in New York, Treasury auctions, plenty of Fed speak, revisions to 1Q GDP, Durable Goods, and Consumer...
Mon, May 24 2010, 5:21 PM
Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally force...
Mon, May 24 2010, 3:39 PM
So here we are in a relatively light-on-data Monday following a week that saw some huge movements across all markets and the the sense of anticlimax i...
Mon, May 24 2010, 3:16 PM
Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions,...
Mon, May 24 2010, 1:09 PM
The process of markets PREPARING to either confirm this range or to retrace back into weaker territory is evident in the CONSOLIDATION patterns that A...
Fri, May 21 2010, 11:59 AM
Stocks are rallying and rates are selling off. The S&P is currently +1.33% at 1085.88 after hitting an intraday low of 1056. The 10yr TSY note is flat...
Fri, May 21 2010, 11:52 AM
Loan Production Slowed By Collateral Valuations; Financial Reform And Mortgages; Consumer Spending and Saving; Delinquency Rates
Fri, May 21 2010, 11:05 AM
The most recent version of FinReg Reform legislation took another step toward the 1930s yesterday. Our Senators, who we collectively voted into offic...
Fri, May 21 2010, 8:39 AM
Equity futures continue sliding this morning after the stock market was dealt a crushing blow yesterday. The S&P 500 dropped 3.9% ― it’s biggest one-d...
Fri, May 21 2010, 5:45 PM
If you've been floating for the past few weeks, your rate has greatly improved. Even after rates mortgage rose today, they're still close to record lo...
Fri, May 21 2010, 3:56 PM
Risk retention legislation will affect mortgage loan pricing in a
negative way. It will force mortgage bankers and wholesalers to
accumulate more ...
Fri, May 21 2010, 2:41 PM
Fri, May 21 2010, 1:30 PM
Twenty years plus years ago I was operating a wholesale mortgage bank that was owned by a savings & loan that was on the brink of shutting down. Regu...
Thu, May 20 2010, 10:53 AM
FOMC Minutes Discuss Fed's Feelings On Mortgage Asset Sales; NonBank Lender Oversight; RMIC Cuts Distressed Markets; Where Are The Loans?
Thu, May 20 2010, 9:38 AM
Shifts in the value of global currencies, rising short term bank funding costs (LIBOR), and general political uncertainties (here and abroad) continue...
Thu, May 20 2010, 8:25 AM
The stock market is indicated lower this morning as investors remain weary about Europe’s debt crisis. Overnight, Japanese GDP rose at a slower-than-...
Thu, May 20 2010, 6:25 PM
The flight to safety continued today as stocks moved lower around the world. This sent benchmark Treasuries to their lowest yields of the year and hel...
Thu, May 20 2010, 4:37 PM
An MBA official told a House Veterans Affairs subcommittee that VA, FHA, and other government guaranteed loans should be exempted from proposed loan r...
Thu, May 20 2010, 3:34 PM
USDA Section 502 Single Family Housing Guaranteed Loans are primarily used to help low-income individuals or households purchase homes in rural areas....
Thu, May 20 2010, 3:14 PM
The bottom line is that it's more likely to hold than not. And if you're "playing the range until the range plays you," this is the last stop on the ...
Thu, May 20 2010, 2:22 PM
In a letter for the New York State Attorney General Today, Activity FHFA Director DeMarco announced that his agency is modifying the enforcement porti...
Wed, May 19 2010, 11:50 AM
The industry's worst fears might be coming true. Regardless of record levels of affordability (reset home prices and mortgage rates below 5.00%), purc...
Wed, May 19 2010, 11:39 AM
Choppy trading conditions continue to expand the already spacious "rate sheet influential" MBS coupon trading range. The FN 4.5 has traded as high as ...
Wed, May 19 2010, 10:31 AM
Our Management Advisory Program (MAP) results for the first quarter 2010 are starting to come in. We measure top line revenues, gain-on-sale, compen...
Wed, May 19 2010, 10:15 AM
Originator Feedback From The Trenches; FHA Broker/Lender Approval Guidance; HomePath Update; Citi Non-Agency Lending; 95% MI
Wed, May 19 2010, 9:33 AM
The Euro hit a new four year low of $1.2162 before closing down 1.49% at 1.2207. The S&P ended the day session -1.42% at 1120.80. The 10 yr TSY note w...
Wed, May 19 2010, 8:21 AM
Investors across the globe are selling stocks after Germany announced it was banning naked short selling of credit default swaps, plus certain euro ar...
