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MBS RECAP: Yellen Passes Without a Trace. What Now?!
Fri, 26 Aug 2016 19:01:31 GMT

Posted To: MBS CommentaryAll eyes were on Yellen's 10am speech from Jackson Hole, then all eyes were closed as traders fell asleep from boredom. Yellen said nothing we didn't already know, although one headline (about the case for a rate hike..[read more]

Mortgage Rates Slightly Higher After Fed Speakers
Fri, 26 Aug 2016 14:54:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged to slightly lower this morning following the much-anticipated Jackson Hole speech from Fed Chair Janet Yellen. Markets were looking for clues about upcoming rate hikes, but true to form, Yel..[read more]

PMI Insurers Winning FHA Smackdown
Fri, 26 Aug 2016 13:08:42 GMT

Posted To: MND NewsWireAmong the charts and tests summarizing most of the housing finance news that emerged during July, the latest issue of the Urban Institute's (UI's) Housing Finance Chartbook contained a few unique visualizations. First, loans fe..[read more]

HARP Extended; Continued Conventional Conforming Changes
Fri, 26 Aug 2016 13:05:04 GMT

Posted To: Pipeline Press“Rob, have you seen any place where I can see individual lender stats for VA loans?” Sure. Here it is . Knock yourself out. For you CFPB watchers, it has ordered First National Bank of Omaha to provide $108 per he..[read more]

MBS Day Ahead: Today Does Absolutely Nothing For Bigger Picture
Fri, 26 Aug 2016 08:31:03 GMT

Posted To: MBS CommentaryAll too many lookers on--myself included--have made far too much of today's Jackson Hole speech from Fed Chair Yellen (11am ET, we're led to believe). I'm here to make amends for that. It's not that Yellen'..[read more]

MBS RECAP: Markets Offer No Sign of Pre-Yellen Tilt
Thu, 25 Aug 2016 20:14:03 GMT

Posted To: MBS CommentaryAs we discussed this morning, sometimes markets will take a "lead-off" ahead of a big potential market mover if there's an underlying predisposition that traders have been 'hiding' (for lack of a better term). Thi..[read more]

Flat Mortgage Rates Meet Big Potential Volatility
Thu, 25 Aug 2016 19:22:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged , yet again, keeping alive an uncanny streak of lifelessness. That COULD change tomorrow after Fed Chair Yellen's speech at the Jackson Hole symposium, but please note the emphasized word. T..[read more]

New HARP Kills Cut-Off Date, But You Have to Wait
Thu, 25 Aug 2016 17:57:21 GMT

Posted To: MND NewsWireWhile implementation is a ways down the road, both Fannie Mae and Freddie Mac (the GSEs) will offer new streamlined refinance options aimed at borrowers with high loan-to-value (LTV) ratios. The Federal Housing Finance Agency (..[read more]

Cash Sales Retain Elevated Share of Market
Thu, 25 Aug 2016 17:06:44 GMT

Posted To: MND NewsWireWhile the both the investor share of home sales and the share represented by distressed properties are setting post-crash lows, the share of cash sales remains elevated . CoreLogic reports that in May cash sales represented 30 ..[read more]

Appraisal Trends; Fannie & Freddie - Never a Dull Moment
Thu, 25 Aug 2016 13:08:50 GMT

Posted To: Pipeline PressHow’d you like to work for a company that was in the press nearly every day – rarely in a good way? How’d you like to work for a company whose future is uncertain, and anyone with a keyboard can comment on i..[read more]

MBS Day Ahead: Any Underlying Imbalances Will Surface Today
Thu, 25 Aug 2016 12:34:24 GMT

Posted To: MBS CommentaryMost likely, today will just be another day in the range-bound grind for bond markets leading up to tomorrow's Jackson Hole speech from Yellen. Although this particular instance of sideways movement is much more extreme t..[read more]

MBS RECAP: Data and Auction Pass Without Trace. Bring on Yellen
Wed, 24 Aug 2016 21:06:21 GMT

Posted To: MBS CommentaryWhether or not Yellen actually says something that moves markets on Friday is unimportant. Maybe she will. Probably she won't. Either way , we just need her speech to come and go so bond markets can move on with their liv..[read more]

Mortgage Rates Still Sideways and That's Great!
Wed, 24 Aug 2016 20:21:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates , like most other interest rates, have seen record-setting levels of inactivity over the past 90 days. The Brexit vote in late June pushed rates to all-time lows and then the jobs report in early July push..[read more]

Appraisal and Inventory Issues Complicate Existing Sales Numbers
Wed, 24 Aug 2016 15:15:06 GMT

Posted To: MND NewsWire" Frustratingly low inventory levels in many parts of the country" take the blame from the National Association of Realtors® (NAR) for a drop in July existing home sales, the first loss after four straight months of gains. ..[read more]

New FEMA Proposal and Random Sample of Disaster Policies From Lenders
Wed, 24 Aug 2016 14:41:43 GMT

Posted To: Pipeline PressIt is hard to find a mortgage banker that isn’t hell-bent on expanding – sometimes just for the sake of expanding. But many companies soon find out how hard and expensive it is owning a far-flung empire of brick &..[read more]

Fannie/Freddie Collaborate on New Loan Application
Wed, 24 Aug 2016 13:57:57 GMT

Posted To: MND NewsWireWhile it won't be available for more than a year, the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have unveiled a new Uniform Residential Loan Application (URLA) . The new form, for use in applying for ..[read more]

Potentially Significant Shift in Home Price Trends -FHFA
Wed, 24 Aug 2016 13:55:46 GMT

Posted To: MND NewsWirePrices of homes financed by Fannie Mae or Freddie Mac increased by 0.2 percent from May to June the Federal Housing Finance Agency (FHFA) said today. The year over year change was a positive 5.6 percent . Both June numbers were..[read more]

MBS Day Ahead: Why The First Reaction to Yellen Might Not Be Our "Final Answer"
Wed, 24 Aug 2016 13:27:27 GMT

Posted To: MBS CommentaryWelcome to another episode of Extreme Boredom: Bond Market Edition. In today's episode, bonds are pressing even further into record territory, only it's not any sort of record in terms of prices or yields. Rather, tod..[read more]

Mortgage Applications Drift Aimlessly With Rates
Wed, 24 Aug 2016 12:44:23 GMT

Posted To: MND NewsWireMortgage applications continued their modest downward track during the week ended August 19. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, fell 2.1 percent on a seasonally ad..[read more]

MBS RECAP: Have You Heard The One About "The Range?"
Tue, 23 Aug 2016 20:02:17 GMT

Posted To: MBS CommentaryWe might have expected a bigger movement in the wake of the colossal improvement in New Home Sales (654k vs 582k previously, 580k forecast), but bonds barely budged. In fact, the first move following the data was into STRONGE..[read more]

Mortgage Rate Movement Nowhere to be Found
Tue, 23 Aug 2016 18:07:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were sharply sideways today, with almost every lender offering the exact same terms as yesterday. This is part of an ongoing phenomenon that's seen rates rise just slightly from near-all-time lows in early..[read more]

Biggest Monthly Gain For New Home Sales in 10 Years
Tue, 23 Aug 2016 15:21:35 GMT

Posted To: MND NewsWireRather than the month-over-month decline expected, July new home sales soared above 600,000 units for the first time since late 2007. The U.S. Census Bureau and Department of Housing and Urban Development reported on Tuesday th..[read more]

New and Old Lawsuits - Notable Settlements; Training/Events; Underwriter Comp Study
Tue, 23 Aug 2016 13:58:22 GMT

Posted To: Pipeline PressThe whole residential lending industry is abuzz about the article on housing in the Economist . "A decade on, the presumption is that the mortgage-debt monster has been tamed . In fact, vast, nationalized, unprofitable and un..[read more]

MBS Day Ahead: Bonds May Not Even Want to be Inspired Just Yet
Tue, 23 Aug 2016 13:32:46 GMT

Posted To: MBS CommentaryTo say that bonds have been range-bound recently would be an understatement. I'm running out of ways to say it, and perhaps you're running out of the desire to read the same news on a different day. So let's chang..[read more]

MBS RECAP: In Shocking Twist of Fate, Bonds Remain Range-Bound
Mon, 22 Aug 2016 22:00:42 GMT

Posted To: MBS CommentaryI apologize for tricking you with the title. The "shocking" part was unabashed sarcasm . It's not that anyone here is clairvoyant. Certainly, we never have any assurance of market movement that takes place in the future. ..[read more]

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