Thu, Apr 1 2010, 4:49 PM
The goal of the Federal Reserve's agency MBS program was to provide support to mortgage and housing markets and to foster improved conditions in finan...
Thu, Apr 1 2010, 4:30 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be considerably worse than yesterday. The par 30 year conventional rate mor...
Thu, Apr 1 2010, 3:10 PM
Fannie 4.5's at 99-29. 10yr Tsy yield at 3.865. Couple bouts of volatility earlier have given way to a narrow range for MBS. 4.5's are well off the lo...
Thu, Apr 1 2010, 1:42 PM
If a mortgage banker has been originating and selling loans to investors, it should it should prepare for The Law of Unintended Consequences. One doe...
Wed, Mar 31 2010, 11:29 AM
The Department of Housing and Urban Development has announced over $49 million in grants to state level public housing agencies to use in an ongoing p...
Wed, Mar 31 2010, 11:16 AM
The Fannie 4.5 MBS coupon has lost all positive progress that was picked up following a much weaker than forecast ADP print at 815am. The FN 4.5 is cu...
Wed, Mar 31 2010, 10:40 AM
Fannie Mae's mortgage investment portfolio shrank for the second straight month in February. This will not last much longer though. On Februrary 10, ...
Wed, Mar 31 2010, 10:18 AM
Flood Insurance Guidance from Lenders; Wells Says No Signatures on GFE; Housing Prices Need Buyer Volume to Confirm Rise
Wed, Mar 31 2010, 9:39 AM
Nonfarm private employment decreased 23,000 from February to March on a seasonally adjusted basis. Goods producing businesses are still the weakest ...
Wed, Mar 31 2010, 7:53 AM
Markets are flat to roughly lower as cautious investors await the results of the ADP private employment report and a key index of the services and man...
Wed, Mar 31 2010, 7:27 AM
The reality of a purchase driven housing market is setting in as the refinance index failed to make much progress in Q1 2010 even as mortgage rates he...
Wed, Mar 31 2010, 4:43 PM
I discussed a few technical levels last night. Specifically, that 100-16, 100-10, and 100-07 were good levels to keep an eye on. That call turned ou...
Wed, Mar 31 2010, 4:14 PM
Reports from fellow mortgage professionals did indicate lender rate sheets to be improved this morning, however several lenders repriced for the worse...
Wed, Mar 31 2010, 1:38 PM
Mortgage market participants must now face the reality of a life without the supportive, flow balancing, volatility calming bid of the Federal Reserve...
Tue, Mar 30 2010, 11:46 AM
If you are considering raising capital today, take some time to understand the difference between Common and Preferred Stock. If you are looking to m...
Tue, Mar 30 2010, 10:36 AM
With Consumer Confidence out, the bleeding in bonds seems to have stopped for the moment. A bit of a paradox at first glance since the data beat expe...
Tue, Mar 30 2010, 9:58 AM
Lender Bulletins: Quality Control, Suspended Programs, HPML's, No MI for I/O, Useable FICO Scores, FHA Flipping, Allowable Fees, Appraisal Required fo...
Tue, Mar 30 2010, 9:33 AM
Using your microscope, you might be able to see the hint of a top forming on the treasury yield chart. hopefully, that materializes, which would help...
Tue, Mar 30 2010, 8:26 AM
After volatile trading that ended positive yesterday, markets are looking for further gains this morning ahead of key housing data. 90 minutes before ...
Tue, Mar 30 2010, 6:36 PM
Major lock decisions deal more with Friday than anything. From there, anything you know you're going to lock before NFP, the closer MBS are to 100-16...
Tue, Mar 30 2010, 6:27 PM
I favor locking over floating at this point. There are just too many unknowns to deal with in the near term. The Fed stops buying MBS tomorrow, more ...
Tue, Mar 30 2010, 4:44 PM
David M.Blitzer, Chairman of the Index Committee at Standard & Poor’s, communicated the findings of the report quite well. “The report is mixed. While...
Tue, Mar 30 2010, 3:03 PM
Mon, Mar 29 2010, 12:28 PM
Plain and Simple: the long end of the yield curve is the biggest loser today. This is most likely a function of low trading volume and a thinly att...
Mon, Mar 29 2010, 11:20 AM
Reports from fellow mortgage professionals indicate lender rate sheets to be improved from Friday. If you can lock at 4.75%, there is no question, yo...
Mon, Mar 29 2010, 10:48 AM
Flood Insurance Program Not Extended; FHA MIP Reminder; Wells Fargo Jumbo Rollout; PIMCO Hiring; Bank Failures
Mon, Mar 29 2010, 10:07 AM
10s must break 3.85% and re-enter the 3.57 to 3.85% range for us to see further positive rebound rally progress. Still watching and waiting...
Mon, Mar 29 2010, 8:21 AM
90 minutes before the opening bell sounds to begin a holiday-shortened week, equity futures are sharply upwards. The Dow looks to open 52 points highe...
Mon, Mar 29 2010, 6:49 PM
Mon, Mar 29 2010, 3:58 PM
Today, adding to the first Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (the "HFA Hardest Hit Fund"), the Obama Administ...
Mon, Mar 29 2010, 3:54 PM
The OCC/OTS metrics report for the last quarter of 2009 confirms the continued increase in delinquent loans but notes that servicers have expanded ret...
Mon, Mar 29 2010, 3:37 PM
We're hearing quite a few questions about census jobs distorting Friday's NFP number. Here's the thing though... If we already know that temporary c...
Mon, Mar 29 2010, 3:20 PM
Most people have preconceived notions about reverse mortgage. Why are so many folks afraid to hear the facts from an expert?
Mon, Mar 29 2010, 2:20 PM
We hate to sound like a nag, but what are you doing to track your leakage? If you’re building in a profit of, say, 150 bps on FHA loans, are you real...
Fri, Mar 26 2010, 12:50 PM
Today, as part of its ongoing commitment to continuously improve housing relief efforts, the Obama Administration announced adjustments to the Home Af...
Fri, Mar 26 2010, 12:40 PM
I have nothing but good news for mortgages. "Rate sheet influential" MBS prices are higher, current coupon yield spreads are tighter, and REPRICES FOR...
Fri, Mar 26 2010, 11:10 AM
"The near- to mid-term outlook for the broader housing sector continues to be negative, with the main driver the ongoing economic pressure on homeowne...
Fri, Mar 26 2010, 11:03 AM
HUD announced today that Recovery Act funds have allowed state and local housing agencies to improve or renovate 150,000 low-income housing units whil...
Fri, Mar 26 2010, 11:00 AM
We recently reviewed a FOCIS-plus study with board members and management of a small mortgage bank. What was interesting about this company was its s...
Fri, Mar 26 2010, 10:54 AM
RESPA & Changes to Fees Based on Updated Loan Amount; Cali Homebuyer Tax Credit; New Principal Reduction Program; Mortgage Jobs
Fri, Mar 26 2010, 9:56 AM
It was encouraging to see overnight bargain buying again, especially after three terrible turnouts from indirect bidders at this week's round of Treas...
Fri, Mar 26 2010, 8:09 AM
Equity futures are pointing upwards after it was announced that European Union leaders came up with a rescue package for Greece.
According to the ...
Fri, Mar 26 2010, 4:32 PM
Bonds are still more likely to move over 3.85 in the longer term, but there is enough room for the possibility that we could catch a break in the shor...
Fri, Mar 26 2010, 4:20 PM
If you can lock in today at 4.875% with acceptable fees, you should strongly consider locking. If your lender is offering 5.00% or higher, I feel it ...
Fri, Mar 26 2010, 2:19 PM
Strength in treasuries and consequently MBS today has led to widespread reprices for the better. But if we get a 3pm mark around 3.85, it could lead ...
Thu, Mar 25 2010, 12:31 PM
he bond market is losing steam ahead of the 1pm bid cut off for $32 billion 7 year notes. The 10 year Treasury note is trading at 3.89%. This pushed t...
Thu, Mar 25 2010, 12:26 PM
Ben Bernanke is sitting before the House Financial Services Committee, sharing his "official" thoughts on the Fed's exit strategy. Most of his testimo...
Thu, Mar 25 2010, 11:23 AM
Loan Modification Buybacks; ACORN Closing State Chapters; Bank of America's FHA Flipping Policy & Principal Reduction Plan;
Thu, Mar 25 2010, 10:19 AM
Yesterday was brutal. The long end of the rates market got caught with its pants down. Short swap positions in the long end of the curve capitulated,...
Thu, Mar 25 2010, 8:09 AM
Equity and commodity prices are looking upwards this morning ahead of weekly labor data. 90 minutes before the opening bell, Dow futures are trading 3...
