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Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you haven't already: Here's the initial reaction from Wednesday night Here's a more detailed list of bullet points from the following morning For those who don't like reading or who already know everything I'm about to say, feel free to skip to the next section ("what does this all mean") below. G-fees are a longstanding ingredient in the mortgage market equation. They are collected by Fannie Mae and Freddie Mac (collectively the "agencies" or GSEs) in order to guarantee timely repayment to mortgage investors. In other words, if borrowers don't pay, the
Mortgage Rate Watch
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Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you ha... (read more)
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MBS Commentary
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LLPA Impact vs Powell Speech. Time to Lock?
Much has been made (by news media... not bond market participants) of Powell's Jackson Hole (virtual) speech on Thursday. After all, a rethink of the Fed's "... (read more)
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Housing News
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Mortgage applications volume fell for the second time during the week ended August 21, declining 6.5 percent from the previous week according to the Mortgage Bankers Association's (MBA's) seasonally adjusted Market Composite Index. The volume was dow... (read more)
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Housing News
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New home sales were expected to dip slightly in July after posting 13.8 percent growth in June and setting a 13-year high. Instead, the June sales were revised upward, from 776,000 to 791,000, bringing that month's increase to 15.1 percent and July s... (read more)
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Housing News
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Both the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) and the several S&P CoreLogic Case-Shiller indices showed price gains across the U.S. in June. Case-Shiller's numbers showed more moderation in the rate of increase than... (read more)
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Rob Chrisman
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2019: Stay away from negative people. 2020: Stay away from positive people. Like it or not, depending on how “old school” you are, companies in recent years have wrestled with how to relate to younger employees, positive or negative. Can ... (read more)
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