Fri, Mar 12 2010, 4:20 PM
Following the release of the Retail Sales report, benchmark yields rose and MBS prices plummeted. Many lenders released rate sheets at the lows of the...
Fri, Mar 12 2010, 3:51 PM
Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have (and could have) earned $900...
Fri, Mar 12 2010, 2:50 PM
Thu, Mar 11 2010, 12:48 PM
A portmanteau means a blend of two or more words and their meanings into one new word. An example is the word brunch meaning breakfast +lunch. Anoth...
Thu, Mar 11 2010, 11:37 AM
Considering the extent to which concessionary 2s/30s steepening has taken place over the past week..it would make sense for the steepener to reverse c...
Thu, Mar 11 2010, 10:56 AM
Lenders Relaxing Non-Agency ARM Regs; High Cost Loan Reporting Guidance; Negative Convexity Defined; New Mortgagee Letter; MGIC Update
Thu, Mar 11 2010, 8:52 AM
In a speculative manner, it appears rates traders are looking for an opportunity to push TSY prices higher (yields lower) as the long end of the yield...
Thu, Mar 11 2010, 8:21 AM
Speculation that China may have to tighten its economic policy is pulling investor sentiment lower this morning. Amid positive data on industrial prod...
Thu, Mar 11 2010, 6:05 PM
Tomorrow morning we get the Retail Sales, Consumer Sentiment and Business Inventories. Of the three, the Retail Sales report has the highest potentia...
Thu, Mar 11 2010, 5:25 PM
Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 pro...
Thu, Mar 11 2010, 5:24 PM
Thu, Mar 11 2010, 3:37 PM
Thu, Mar 11 2010, 2:40 PM
FHA Commissioner David Stevens is scheduled to tell a House Subcommittee this afternoon that raising the required minimum down payment of an FHA mortg...
Thu, Mar 11 2010, 1:09 PM
The previously discussed auction concession must have been sufficient because the long bond auction went very well. Overall, auction demand was well a...
Wed, Mar 10 2010, 12:09 PM
I wish I had some great news to pass along to you in regard to a noteworthy increase in loan application activity....but I don't. Most housing and mor...
Wed, Mar 10 2010, 12:05 PM
Wed, Mar 10 2010, 11:22 AM
Underwriters: Loan Quality Still in Need of Improvement; Interesting FICO Score Data; Will the Fed sell their MBS Holdings?;
Wed, Mar 10 2010, 8:40 AM
While many rates watchers are seeking a fundamental explanation for the market's bias to push "rate sheet influential" benchmark yields higher, I do n...
Wed, Mar 10 2010, 8:22 AM
Investors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afte...
Wed, Mar 10 2010, 5:13 PM
This is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable quest...
Wed, Mar 10 2010, 4:48 PM
Yesterday I informed you that the most significant threat to mortgage rates was today's 10 year Treasury note auction and the 30 year bond auction sch...
Wed, Mar 10 2010, 3:23 PM
For the time being, at least until we get closer to the Fed's exit from the agency MBS market, mortgage rates will take their directional guidance fro...
Wed, Mar 10 2010, 2:26 PM
FICO data indicates that low risk customers are now more likely to become delinquent or default on their mortgages than they are to fail to make credi...
Wed, Mar 10 2010, 1:08 PM
The 10 year auction has impressive demand, but for higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield. MBS ...
Tue, Mar 9 2010, 11:23 AM
Chicago Fed President Charles Evans, a middle of the road on inflation non-FOMC voter, shared prepared remarks with the world this morning. The one th...
Tue, Mar 9 2010, 11:05 AM
Reports from fellow mortgage professionals indicate lender rate sheets to have regained yesterday's marginal losses. The par 30 year conventional rat...
Tue, Mar 9 2010, 10:29 AM
Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
Tue, Mar 9 2010, 8:08 AM
Equity futures are firmly lower this morning following a mixed session yesterday. MND's Adam Quinones says weakness in stocks and the flight to qualit...
Tue, Mar 9 2010, 4:51 PM
If you haven't read the following description of the agency MBS settlement process...please don't skip over it as it may save you from having to chang...
Tue, Mar 9 2010, 3:45 PM
The Mortgage Bankers Association says that multifamily and commercial mortgages had lower delinquency rates and charge-offs during the last two years ...
Tue, Mar 9 2010, 3:37 PM
The Department of Housing and Urban Development is reporting that over 3,000 HUD funded groups have complied with reporting requirements regarding hir...
Tue, Mar 9 2010, 2:56 PM
Frank Sinatra’s son was kidnapped on a Friday in 1963, and the singer called up Bank of America, Security Pacific and a few other big banks asking for...
Tue, Mar 9 2010, 1:19 PM
The three year note auction went well. I must remind you that this sector of the yield curve has minimal bearing on the "rate sheet influential" side ...
Mon, Mar 8 2010, 12:23 PM
Mon, Mar 8 2010, 11:59 AM
The arrangement works like this, the bank collects a fee for the appraisal from the borrower; orders an appraisal from the appraisal management compan...
Mon, Mar 8 2010, 11:33 AM
Reports from fellow mortgage professionals indicate lender rate sheets to be marginally worse when compared to Friday afternoon pricing. However the ...
Mon, Mar 8 2010, 11:01 AM
Credit Unions Expanding Loan Production; Ready for Buybacks?; Lender Rating Model; FHA Approval News; Four More Bank Failures;
Mon, Mar 8 2010, 10:27 AM
Besides some off the radar releases, the econ calendar is essentially empty this week. Retail Sales is the only data with the ability to have an inter...
Mon, Mar 8 2010, 8:20 AM
Equity futures are moderately higher ahead of a fairly light week. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 p...
Mon, Mar 8 2010, 3:35 PM
MBA, ABA, AFSA and 11 state lending groups have expressed concern to HUD over proposed regulations that will require mortgage servicers to use license...
Mon, Mar 8 2010, 3:11 PM
Both Fannie Mae and Freddie Mac reported that the average rate for fixed rate and most adjustable rate mortgages declined during the last week. Fredd...
Mon, Mar 8 2010, 3:01 PM
HVCC has been a challenge for originators who don’t have the flexibility they had in the past. Some mortgage bankers complain there are quality issue...
Fri, Mar 5 2010, 12:10 PM
Mandatory commitments offer the opportunity to increase profits and even lower rates, but we must point out the risks associated with mandatory commit...
Fri, Mar 5 2010, 11:12 AM
While many lenders hit rate sheet rebate by about 30bps at the open, not all desks cushioned pricing. Since the initial knee jerk reaction move lower,...
Fri, Mar 5 2010, 10:57 AM
Lender Implementation of FHA Flipping Guideline; SAFE Act Still Weighs on Originators, Thornburg Execs in Trouble
Fri, Mar 5 2010, 10:06 AM
As proposed in a November 30, 2009, proposed rule (74 FR 62521), HUD is seeking to eliminate FHA approval for loan correspondents. Because this rulem...
