Fannie Mae will implement a new version of its Desktop Underwriter (DU) after the weekend of March 13 . Version 11.0 apply to loan casefiles submitted on or after that date, but casefiles created in the previous version. The changes in this release include modifications to DU risk assessment which Fannie Mae says it regularly reviews and updates based on the latest market and loan performance data. The new DU version "will include an updated risk assessment that will finetune DU's ability to assess risk while fostering homeownership sustainability." The company said it expects DU 11.0 to yield only minimal change in the overall percentage of loan casefiles receiving an Approve/Eligible recommendation, but each lender's results may vary depending on their overall mix of business. DU will continue

February 11, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Feb 11, 2021 Mortgage Rates Lowest in More Than a Week Wed, Feb 10, 2021 4:02PM Mortgage rates haven't been moving much recently, but they've logged enough small victories to make it back to the lower levels seen on February 1st . Depending on the specific scenario and the lender, a quoted rate may or may not be visibly different between now and then. In cases where they seem to be the same, the change could come down to the "upfront cost" side of the mortgage rate equation (which allows lenders to make fine-tuning adjustments without having to move rates by the customary 0.125%). The underlying bond market serves as the foundation for all interest rates. US Treasuries an... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.41 -0.13   95.05 100.47 UMBS 30YR 5.5 101.01 -0.05   97.47 101.61 10 YR Treasury 4.125 +0.021   3.706 4.780 MBS Live Recap: Friendly Bounce May Already Have Run Its Course Thu, Feb 11, 2021 3:24PM Friendly Bounce May Already Have Run Its Course Friendly bounces after strong selling sprees are slightly more likely to play out over 2-day time frames.  That was the risk heading into today after Tuesday and Wednesday saw Treasury yields close lower for first back-to-back days since mid-January.  And as f... (read more) MBS Price Change UMBS 4.5 97.32 -0.14 UMBS 5.0 99.41 -0.13 UMBS 5.5 101.01 -0.06 GNMA 4.5 97.44 -0.06 GNMA 5.0 99.67 -0.09 GNMA 5.5 100.85 -0.04 Pricing as of: 9/19 4:16AM EST US Treasury Yield Change 2 YR Treasury 3.576 +0.011 5 YR Treasury 3.681 +0.014 7 YR Treasury 3.873 +0.023 10 YR Treasury 4.127 +0.024 30 YR Treasury 4.746 +0.022 Pricing as of: 9/19 4:16AM EST Other News Revisions to Fannie's Automated System May Lead to Easier Approval Thu, Feb 11, 2021 11:52AM Fannie Mae will implement a new version of its Desktop Underwriter (DU) after the weekend of March 13 . Version 11.0 apply to loan casefiles submitted on or after that date, but casefiles created in the previous version. The changes in this release include modifications to DU risk assessment which Fannie Mae says it regularly reviews and updates based on the... (read more) FHFA Extends Forbearance Periods an Extra Three Months Thu, Feb 11, 2021 10:42AM Most of the accommodations that have been allowed lenders and borrowers by the Federal Housing Finance Agency (FHFA) due to the COVID-19 pandemic were modified or extended this past week. FHFA, the regulator and conservator of the GSEs Fannie Mae and Freddie Mac, extended eligibility for mortgage forbearance by three months. Forbearance allows homeowners who... (read more) Low Rates, COVID are Motivating Prospective Home Buyers Thu, Feb 11, 2021 10:35AM A high percentage of those who told the National Association of Home Builders (NAHB) late last year that they were thinking of buying a home have now turned thought into action. Rose Quint writes in the NAHB Eye on Housing blog that 15 percent of those queried in its 4 th Quarter 2020 Housing Trends survey said they were considering a purchase and now 56 per... (read more) AE, MLO Jobs; Warehouse, Anti-Fraud, Pricing Products; Federal Reserve: Steady as She Goes Thu, Feb 11, 2021 9:18AM I’ve never set foot on a Lear Jet, but was not excited to hear the iconic product ceasing production. Freddie Mac’s 4 th quarter results are pretty exciting. I was very excited that Chrisman LLC was voted the #1 Workplace in the “Free Daily Mortgage Commentary with 5 or Fewer Employees” category. Don’t ask me what I had to pay f... (read more) Latest Video CBO: U.S. deficit to reach $2.3 trillion in 2021 The Bond Report - 9am - February 11, 2021 U.S. jobless claims total 793,000 vs. 760,000 estimate We are not thinking about shrinking the balance sheet: Fed's Powell Around the Web CNBC Deficit projected at $2.3 trillion for 2021, not counting additional stimulus, CBO says Calculated Risk Blog MBA: "Mortgage Delinquencies Decrease in the Fourth Quarter of 2020" CNBC Jobless claims nudge lower as labor market struggles continue Calculated Risk Blog Fed Chair Powell: Corrected Unemployment Rate Close to 10% in January CNBC Treasury yields slump following Fed Chair Powell's comments on employment Reuters Fed's Powell calls for broad national drive to full employment Reuters U.S. January budget deficit hits record $163 billion as new aid checks sent out CNBC Watch Fed Chair Jerome Powell speak live to the Economic Club of New York CNBC Fed Chair Powell, citing bleak jobs picture, says policy will need to stay 'patiently accommodative' CNBC House panel advances $15 minimum wage as Democrats try to include it in Covid relief bill Reuters Wall Street opens at record levels ahead of Powell talk Calculated Risk Blog BLS: CPI increased 0.3% in January, Core CPI Unchanged CNBC Treasury yields rise slightly ahead of Fed chair speech

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