Fri, Apr 16 2010, 1:29 PM
Building permits are on the rise from record low levels, but builders are not using them, housing starts are essentially stagnant.Isn't that a good th...
Thu, Apr 15 2010, 12:45 PM
Over the past two days we have been favoring a lock bias. This bias was based more on lender strategies than price action in the bond market. While we...
Thu, Apr 15 2010, 10:59 AM
Bank representatives speaking to the House Financial Services Committee addressed the problem of second mortgages and boasted of the efforts their ins...
Thu, Apr 15 2010, 10:43 AM
Fannie Mae Reduces "Waiting Period" for Re-Established Credit; Ginnie to Allow Securitization of Single Loans; More Foreclosures; RESPA Updates
Thu, Apr 15 2010, 10:08 AM
Considering CPI data confirmed inflation is well contained and Ben Bernanke continues to provide low rate rhetoric..I have to say I am baffled by the...
Thu, Apr 15 2010, 8:21 AM
After hitting fresh 52-week highs across the board yesterday, US equities are looking to open slightly lower this morning ahead of a packed schedule. ...
Thu, Apr 15 2010, 4:29 PM
Benchmark Treasury yields rose and mortgage-backed security prices fell after the market received mostly positive economic data on the manufacturing s...
Thu, Apr 15 2010, 3:45 PM
It's a bit too soon to call that for today and likely of small significance compared to whatever tomorrow holds. From a bearish stance, we've caught ...
Thu, Apr 15 2010, 3:02 PM
RealtyTrac is reporting that foreclosure rates for both the first quarter of 2010 and for March were up significantly. However, the increase came in ...
Thu, Apr 15 2010, 2:44 PM
During our visits to mortgage companies, we often get asked: Does it make sense to retain servicing? And, if it does, when should be it considered?
Thu, Apr 15 2010, 2:31 PM
Permanent loan modifications through the Making Home Affordable Program increased by over 60,000 in March even as the rate of new entries into the pro...
Wed, Apr 14 2010, 11:32 AM
Representatives of four of the nation's largest mortgage lenders and servicers testified before the House Financial Services Committee yesterday on "S...
Wed, Apr 14 2010, 10:42 AM
How FICO Scores Are Calculated; Chatter from the Trenches; JP Morgan Chase Earnings; Updates: Wells, Freddie, Provident, Citi, USB
Wed, Apr 14 2010, 10:14 AM
Inflation is well-contained but consumer spending continues to improve. One is bond bullish the other is bond bearish. Looks like 830AM data was a was...
Wed, Apr 14 2010, 8:15 AM
Applications for government mortgages dropped substantially last week, following the implementation of an increase in FHA mortgage insurance premiums,...
Wed, Apr 14 2010, 8:13 AM
A busy schedule of data and speakers from the Federal Reserve awaits investors today. Key data include retail sales and the consumer price index an ho...
Wed, Apr 14 2010, 6:32 PM
The Obama Administration today released questions for public comment on the future of the housing finance system, including Fannie Mae and Freddie Mac...
Wed, Apr 14 2010, 6:22 PM
I guess it would be that today's weakness isn't necessarily a sign of things to come, but there's plenty of potential for gains and losses ahead, eith...
Wed, Apr 14 2010, 4:51 PM
Mortgage rates yesterday ended a rally streak that brought consumer borrowing costs back down toward their best levels of 2010. Almost erasing all the...
Wed, Apr 14 2010, 3:45 PM
The FN 4.5 has fallen to its lowest price of the day. Reprices for the worse have been reported.
Wed, Apr 14 2010, 2:30 PM
I really didn't take anything new from today's hearing. My dovish stance was reconfirmed. There are still significant restraints on the economy, infla...
Tue, Apr 13 2010, 12:16 PM
We almost never see mortgage bankers doing formal, ongoing due diligence on their counter-party risk, and it always concerns us. The point of looking ...
Tue, Apr 13 2010, 11:12 AM
After hitting an early morning price high of 100-18, the FN 4.5 is currently trading -0-01 at 100-06, a new intraday price low.Lenders who published p...
Tue, Apr 13 2010, 10:45 AM
The Magnitude of the 2nd Mortgage Problem; Numerous Investor Bulletins; Banks and Hedge Funds Buying; SATO
Tue, Apr 13 2010, 10:02 AM
THERE IS A CLEAR CUT LACK OF NEW LOAN SUPPLY IN THE AGENCY MBS MARKET. Combine that with a general slowdown in mortgage specific trading flows (+modes...
Tue, Apr 13 2010, 8:04 AM
After three days of gains, US equities are looking to start lower on Tuesday ahead of trade balance data for February. The caution is partly attribute...
Tue, Apr 13 2010, 7:36 PM
If you have been floating you should have seen your interest rate drop by 0.25% to 0.375% over the past week. We always say "Float at the Price Lows a...
Tue, Apr 13 2010, 6:11 PM
Despite a few instances of volatility above, we see 10yr yields gradually "coasting" into a roughly 3.82 level ahead of tomorrow's CPI data and Bernan...
Tue, Apr 13 2010, 4:26 PM
Hearings on Subprime Lending and Securitization and Government-Sponsored Enterprises," were conducted last week by the Financial Crisis Inquiry Commis...
Tue, Apr 13 2010, 2:36 PM
If Ben's tight rope walk is balanced and the short-end of the yield curve rallies as a result, it sure would make it a heck of a lot easier for the 10...
Mon, Apr 12 2010, 12:05 PM
Mon, Apr 12 2010, 11:17 AM
The Special Inspector General for the HAMP program concludes its report to Secretary Geithner with a series of recommendations including a restatement...
Mon, Apr 12 2010, 10:57 AM
Mortgage Insurance Updates; Credit Union Shut Down; HUD Accepts Electronic Signatures; Wells Reminds About Appraisal Flipping
Mon, Apr 12 2010, 10:13 AM
Mon, Apr 12 2010, 8:33 AM
Although Monday begins the week on a slow note in terms of fresh data, the rest of the week is packed with housing data, retail sales, industrial prod...
Mon, Apr 12 2010, 5:26 PM
Searching for the causality behind today's stellar performance in bonds has left even some smart folks guessing. Reasons offered include "end of the ...
Mon, Apr 12 2010, 2:41 PM
When the day began, lender rate sheets were very similar where they were set on Friday, however both benchmark Treasury yields and mortgage-backed sec...
Mon, Apr 12 2010, 2:18 PM
Though there are several ways to approach the strength in bonds this afternoon, leading candidates include upcoming Federal Reserve speakers who have ...
Fri, Apr 9 2010, 11:32 AM
This week, I visited a small North West retail mortgage banker that is doing around $20M per month. I was hired to perform a FOCIS study on the compa...
Fri, Apr 9 2010, 11:10 AM
Sales of bank-owned properties and short sales as a percentage of all existing home sold are again nearing the record levels set last Spring according...
Fri, Apr 9 2010, 10:55 AM
FHA to Accept Electronic Signatures; Closing, Settlement, Funding, and Signing Discrepancies; Does a GFE Need a Property Address?
Fri, Apr 9 2010, 10:24 AM
This modest retracement is not out of the ordinary and definitely not unwelcome by MBS valuations. I hope I was able to provide enough justification t...
Fri, Apr 9 2010, 8:38 AM
The week ends with a very quiet day, at least in terms of data. Ahead of wholesale inventories, the dollar is weaker and equities are trading higher, ...
Fri, Apr 9 2010, 5:17 PM
Mortgage rates spent this week slowly recovering from a healthy losing streak. If you were floating two weeks ago, when mortgage rates started this lo...
Fri, Apr 9 2010, 4:48 PM
Starting on Monday, because the April coupon has already entered into settlement, MBS investors will have to wait until May 1 to see their funds start...
Fri, Apr 9 2010, 1:33 PM
Couple significant technical events in the past hour... The charts make it look as if the market reacted to a specific news or econ item, but so far,...
Thu, Apr 8 2010, 12:49 PM
The 10 yr note yield has risen to its highest yield of the day amidst position squaring. The 3.625% coupon bearing 10 year note is currently -0-03 at ...
Thu, Apr 8 2010, 11:46 AM
An MBA funding study has documented that the recession and its accompanying unemployment is adversely affecting the formation of new households. Chil...
Thu, Apr 8 2010, 11:01 AM
If you are a mortgage banker, you know what the new four letter word is: COMPLIANCE. Investors, regulators and consumers will be using compliance viol...
Thu, Apr 8 2010, 10:33 AM
Changes in Originator Commission Plans; Prepayment Speeds and Delinquency Buyouts; No Fee Reverse Mortgages; Commercial Loan Rankings
