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The Mortgage Bankers Association (MBA) said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the data in 2008. The bankers who responded to MBA's survey reported a net loss of $118 on each loan they originated, down from a reported gain of $237 per loan in the fourth quarter of 2017. The net production losses, of 8 basis points was down from an average net production profit of 9 bps in the fourth quarter of 2017. The first quarter loss was not as severe as the $194 per loan (also 8 basis points) seen in the first quarter of 2014, the only other quarter in the survey's history to record a net production loss. Marina Walsh, MBA's Vice President
Housing News
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The Mortgage Bankers Association (MBA) said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the d... (read more)
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Mortgage Rate Watch
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Mortgage rates rose today, resuming an upward trend that began last week after political turmoil in Italy began to die down. More simply put, rates had been rising in mid May. Italy's political turmoil caused enough concern about the fate of the Euro... (read more)
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Housing News
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A Selling Guide Announcement from Fannie Mae on Tuesday introduced a new initiative for loans secured by manufactured housing. The MH Advantage program is designed for those units that meet specific construction, architectural design, and energy effi... (read more)
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MBS Commentary
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I owe you an apology. I caused a bit of a sell-off in bond markets today. It all started yesterday afternoon when I called attention to the fact that Italian headlines and credit spreads were still moving markets even though they shouldn'... (read more)
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Rob Chrisman
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Two companies, Google and Facebook, are dominating the digital side of the marketing business. Six out of every ten dollars spent on digital ads is spent with one of them, and that’s accelerating: the pair claim nine out of every ten new digita... (read more)
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Housing News
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The dip in mortgage rates reported by the Mortgage Bankers Association (MBA) for the week ended June 1 was small compared to the 10-basis point decline reported by Freddie Mac for the same period, but it did seem to spur increased mortgage activity .... (read more)
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