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MBS RECAP: Treasuries Get The Glory as MBS Hold Ground
Tue, 27 Sep 2016 20:31:34 GMT

Posted To: MBS CommentaryGlory was limited, in general, today. Most of it went to Treasuries as opposed to MBS. Put in plainer terms, 10yr yields fell 2-3bps on the day while MBS were generally unchanged. In thinking about what's up with that, we..[read more]

Mortgage Rates Near 2-Month Lows
Tue, 27 Sep 2016 19:52:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates maintained their recent winning streak today, falling for the 5th straight day. The average lender is now offering the best rates in nearly 2 months. You'd have to go back early August or late July (depend..[read more]

New DU Version Enhances use of Trended Credit
Tue, 27 Sep 2016 14:38:19 GMT

Posted To: MND NewsWireFannie Mae has announced the implementation of a new version of its automated underwriting system . The company said Version 10.0 of Desktop Underwriter (DU) "provides more simplicity and certainty to lenders through the use of..[read more]

Versus Inflation, Home Price Increases Are Unsustainable -Case-Shiller
Tue, 27 Sep 2016 14:35:46 GMT

Posted To: MND NewsWireWhile the annual gains in its nationwide index accelerated slightly in July the S&P CoreLogic Case-Shiller 10- and 20-City Composite Indices showed a slight slowing on an annual basis. The U.S. National Home Price Index, coveri..[read more]

Events From Coast to Coast; New LO comp Plan; All-Cash Deal Stats
Tue, 27 Sep 2016 13:48:11 GMT

Posted To: Pipeline PressThe media, both social and unsocial, are filled with thoughts about the presidential debate last night. Housing was not an issue, since, overall, things are pretty good. But let’s start with something non-mortgage with ..[read more]

MBS Day Ahead: Bonds Follow Europe; Debate of Little Consequence
Tue, 27 Sep 2016 13:35:59 GMT

Posted To: MBS CommentaryHeading into last night's presidential debate, there had been a small amount of buzz among market participants about the potential ifs and thens. The baseline assumption was that if Trump was perceived to have won the deb..[read more]

MBS RECAP: Week Starts Strong as Bonds Move Further (Back) Into Range
Mon, 26 Sep 2016 20:57:18 GMT

Posted To: MBS CommentaryUp until roughly September 9th, yields had been holding inside a narrow, consolidating range for nearly 3 months. They've since spent most of the past two weeks in higher territory and only began reentry on Thursday and F..[read more]

Mortgage Rates Match September Lows
Mon, 26 Sep 2016 19:50:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were lower again today, marking the 4th straight day of improvements and the 8th day without a meaningful increase. This brings the average lender back in line with levels seen on September 7th. Before tha..[read more]

One Price Index Shows Long-Expected Price Slowdown
Mon, 26 Sep 2016 18:27:54 GMT

Posted To: MND NewsWireBlack Knight Financial Services released its Home Price Index (HPI) report for July on Monday and, unlike reports from CoreLogic and the Federal Housing Finance Agency (FHFA) reports for the month (the fourth report, the CoreLo..[read more]

August New Home Sales Retrench but Still Solid
Mon, 26 Sep 2016 15:00:17 GMT

Posted To: MND NewsWireAfter a spectacular run for new home sales in July, it was anticipated that August activity would be considerably more modest. While sales did retrench from the post-crash highs reached the previous month (which improved even f..[read more]

MBS Week Ahead: Could This Really Be The Big Bounce?
Mon, 26 Sep 2016 14:10:17 GMT

Posted To: MBS CommentaryIt seems that money managers and financial journalists will not relent in their calls for US bond yields to have reached a long-term floor this summer and to now be in the process of moving inevitably higher. That's a fea..[read more]

Thornburg, Sindeo, and Caliber News; DU 10.0 Changes; Freddie to Tweak Underwriting?
Mon, 26 Sep 2016 13:33:39 GMT

Posted To: Pipeline PressTonight we can all watch a big job interview on TV at 9PM ET. And whether it is money or other things, sometimes you if don’t ask for it, you won’t get it. When Andrew Carnegie, who said, “He who dies rich, ..[read more]

MBS RECAP: After Fed, Bonds Tune Out Into Weekend
Fri, 23 Sep 2016 19:58:36 GMT

Posted To: MBS CommentaryFor MBS Live members, this recap will largely be a rehash of the day's most recent update which pointed out a consolidative range in force over the past two days. Bond weakened just enough for a small amount of concern ea..[read more]

Mortgage Rates Lowest in Weeks
Fri, 23 Sep 2016 18:38:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates continued steadily lower today, adding to a string of improvements that brings them to their best levels in more than 2 weeks. Rates have now re-entered the narrow "post-Brexit" range that began shortly af..[read more]

August Refi Surge Reflected in Higher Conventional Lending Share
Fri, 23 Sep 2016 14:45:09 GMT

Posted To: MND NewsWireRefinancing jumped to 43 percent of all loans originated in August, a 6 percentage point higher share than in July. Ellie Mae's Origination Insight Report says this takes the refi share back to a level last seen in March. The s..[read more]

Stearns Picks up KB Home JV; Ocwen News; Impact of Prepayments Increasing
Fri, 23 Sep 2016 13:50:42 GMT

Posted To: Pipeline PressWhile the industry is buzzing about how Wells Fargo has unfortunately killed any chance to reform the CFPB (i.e., cutting back its power or structure), and that whoever supposedly prepped Chairman Stumpf for this testimony sh..[read more]

MBS Day Ahead: No Data, and Maybe Even No Drama
Fri, 23 Sep 2016 13:42:40 GMT

Posted To: MBS CommentaryBond markets have been surprisingly calm this week, given what's at stake. 3 weeks ago, we were faced with the new prospect of the European Central Bank potentially lifting its foot off the accelerator of quantitative eas..[read more]

Mortgage Rates Lower as Market Digests Fed
Thu, 22 Sep 2016 20:11:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates made more substantial gains today, after financial markets had more time to react to yesterday's announcement from the Federal Reserve. Although the Fed held its policy rate steady, the bigger story was a ..[read more]

Mortgage Prepayments at 3-Year High Thanks to Brexit
Thu, 22 Sep 2016 17:45:23 GMT

Posted To: MND NewsWireMortgage prepayments, generally a good indicator of refinance activity , skyrocketed in August. According to Black Knight Financial Services "first look" at its August mortgage data, the Single Month Mortality (SMM) or prepayme..[read more]

"Very Concerning" Inventories and Higher Prices Weigh on Home Sales
Thu, 22 Sep 2016 15:09:03 GMT

Posted To: MND NewsWireSales of existing homes slowed for the second consecutive month in August according to data released on Thursday by the National Association of Realtors® (NAR). Sales declined by 0.9 percent to a seasonally adjusted annual ..[read more]

Vendor News; Flood Insurance and Disaster Updates - What About Escrow Accounts?
Thu, 22 Sep 2016 14:05:41 GMT

Posted To: Pipeline PressIt’s not that difficult to tell alligators and crocodiles apart. One will see you later; the other will see you in a while. What a difference a word makes, or a term. A while back someone exclaimed, “Hey, let&rsqu..[read more]

Home Prices Picked up the Pace in July
Thu, 22 Sep 2016 13:54:36 GMT

Posted To: MND NewsWireHome price increases appear to have accelerated in most of the country in July as compared to June according to data released on Thursday by the Federal Home Finance Agency (FHFA). FHFA's House Price Index was up 0.5 percent on..[read more]

MBS Day Ahead: Bonds Not Out of Woods Yet
Thu, 22 Sep 2016 13:43:02 GMT

Posted To: MBS CommentaryThe Fed announcement is in the rearview and bond markets are beginning their 3rd straight day of improvement. Does this mean last week's sharper move higher in rate was a false alarm? We have to be careful about jumping t..[read more]

MBS RECAP: Bond Markets Cheer Fed Announcement, Sorta...
Wed, 21 Sep 2016 21:41:19 GMT

Posted To: MBS CommentaryIt was an interesting Fed day for bond markets, with 10yr yields dropping 3.8bps and 2yr yields not dropping at all. That's the first clue that markets were not merely trading the prospects of a Fed rate hike (which would..[read more]

CFPB Chief says Rules Have Leveled Credit Unions' Playing Field
Wed, 21 Sep 2016 21:13:41 GMT

Posted To: MND NewsWire"Credit unions are thriving " in the words of Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB). He told members of the National Association of Federal Credit Bureaus on Wednesday that while purchase ..[read more]

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