In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the entire financial system. Sanjiv Das, CEO of Caliber Home Loans, says rising home prices which have made owning a home less affordable has also made life difficult for mortgage lenders. Originations have fallen, and after lenders reduce costs then "they are faced with the decision of whether to lower margins or credit standards . A "race to the bottom" such as occurred before the housing crisis isn't the only danger Das sees. Another is liquidity risk, the inability of a firm to meet short-term financial obligations such as a payroll. This risk is particularly

April 15, 2019 Download our Mobile App: Download our Mobile App: Housing News Non-Bank Lender CEO on Why Companies Like His Could Cause Next Crisis In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the enti... (read more) Housing News Homeowners Expecting Higher Appraisals than They Get Homeowners are and should be proud of their homes, but that often leads them to think it has a higher value than does an appraiser and the difference between the two opinions increased significantly in March. Quicken Loans says the gap in its Home Pr... (read more) Rob Chrisman Marketing, HELOC Comp, Post-closing Products; New Broker Products M&A grab current headlines (Freedom buying JG Wentworth’s mortgage biz being the latest) but it’s hard to put the past behind us, as an industry, when the past continues to grab them as well. “GE to pay $1.5 billion U.S. fine ov... (read more) MBS Commentary MBS Live Week Ahead: Time to Find Out How Much China Matters Ah China...  the US financial market's scapegoat of choice for many a swing that has nothing to do with China (with a few big, notable exceptions).  Last Friday brought the biggest day of bond market weakness we've seen in a while and Chi... (read more) Mortgage Rate Watch Mortgage Rates End Week at Highest Levels Mortgage rates rose fairly quickly on Friday, depending on the lender and the scenario. Bonds (which dictate mortgage rates and interest rates in general) weakened overnight on a variety of foreign and domestic data. While we can't necessarily be sur... (read more) MBS Commentary MBS Live Day Ahead: Bonds Quickly Find Themselves Defending 2.55% Ceiling The domestic bond market woke up this morning to find itself pushed up against the same ceiling that had offered a friendly bounce late last week.  Between now and then, we've seen solid enough progress to reinforce that ceiling, but now it is c... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.93 +0.09 Price / Yield Change MBS UMBS 5.5 99.94 +0.10 UMBS 6.0 101.64 +0.08 GNMA 5.5 100.08 +0.12 GNMA 6.0 101.49 +0.08 Pricing as of: 7/3 7:52AM EST 10 Year US Treasury 4.2582 -0.0216 Price / Yield Change US Treasury 2 YR Treasury 3.754 -0.034 5 YR Treasury 3.840 -0.027 7 YR Treasury 4.030 -0.026 10 YR Treasury 4.257 -0.023 30 YR Treasury 4.788 -0.021 Pricing as of: 7/3 7:52AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Reuters Financials drag on Wall Street as bank results underwhelm Bloomberg Fannie-Freddie Watchdog Vows Urgency in Housing Finance Overhaul Calculated Risk Blog Looking Back: What is a Depression? Bloomberg The Next Housing Boom Looks More Sustainable Bloomberg Sanders Looking Past Primaries to Engage 2020 Battle With Trump Calculated Risk Blog NY Fed: Manufacturing "Business activity grew modestly in New York State" CNBC Fed's Charles Evans tells CNBC rates can stay unchanged into fall of 2020 Bloomberg Why Foreign Investors Aren't Buying U.S. Treasuries Like They Used To Bloomberg The Fed Takes a Second Look at Its Good-News Story on American Jobs Reuters S&P 500 closes near record high as earnings season begins in earnest Reuters China data, JPMorgan results boost stocks, riskier assets Calculated Risk Blog The Longest Expansions in U.S. History CNBC Fed will wait until after the election and then hike again, Goldman predicts

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