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Wells Fargo to Face Largest Fine Yet
Fri, 20 Apr 2018 13:27:34 GMT

Posted To: MND NewsWireOnce again Wells Fargo is about to pay dearly for its inability to walk the straight and narrow. The Washington Post , under the byline of Renae Merle, is reporting that the bank is about to be hit with the largest penalty of t..[read more]

MBS Day Ahead: If Rates Keep Moving Higher, It Could Still Be a Head Fake
Fri, 20 Apr 2018 13:20:58 GMT

Posted To: MBS CommentaryRates are in the midst of a serious, threatening move higher. Yesterday brought additional confirmation of the end of the friendly Springtime consolidation trend and it took us one step closer to the highest yields in more th..[read more]

MBA's Compliance Accreditation; Freddie and Fannie Changes Continue
Fri, 20 Apr 2018 13:18:50 GMT

Posted To: Pipeline PressDid you know that Wells Fargo gives more assistance and aid to people and communities through its Foundation than any other company in the United States. For example, “the Wells Fargo NeighborhoodLIFT program looks to t..[read more]

MBS RECAP: Bonds Add Exclamation Point to Yesterday's Breakout
Thu, 19 Apr 2018 21:03:41 GMT

Posted To: MBS CommentaryThe break outside what we'll call the "Springtime Consolidation" for bonds started taking shape as early as last week. On Thursday and Friday, yields hugged the upper boundaries of that trend, simultaneously shying away f..[read more]

Mortgage Rates Jump to Highest Levels in About a Month
Thu, 19 Apr 2018 20:35:00 GMT

Posted To: Mortgage Rate WatchMortgage rates jumped higher today as bonds continued a move away from narrow Springtime range seen in March and early April. Bonds dictate rate movement and yesterday saw the bond market make its first convincing attemp..[read more]

Weather Cools Remodeling Perceptions
Thu, 19 Apr 2018 18:57:59 GMT

Posted To: MND NewsWireThe Remodeling Market Index (RMI) is to home remodelers as the Housing Market Index (HMI) is to new home builders. Each is constructed by the National Association of Home Builders (NAHB) to reflect builder confidence in their p..[read more]

MBS Day Ahead: What Stock Lever? Bonds Tanking Without Any Help
Thu, 19 Apr 2018 13:51:09 GMT

Posted To: MBS CommentaryWe've been increasingly wary about a potential break of the recent consolidation/rally trend --the one that saw yields move sideways to slightly stronger from late Feb through early April. Yields tiptoed to the top of tha..[read more]

Rates on Closed Loans at 4 Year High
Thu, 19 Apr 2018 13:36:00 GMT

Posted To: MND NewsWireThe share of refinancing loans dropped to 38 percent of loans closed in March, down from 43 percent in February. Ellie Mae's Origination Insight Report for the month notes that the 5 percent decline in those loans was consisten..[read more]

Home Price Increases Outpace Income Gains - Again
Thu, 19 Apr 2018 13:32:00 GMT

Posted To: MND NewsWireFewer homes on the market are affordable than a year ago, and fewer households can afford them with their current income. The National Association of Realtors® (NAR) and the website have released a list of the l..[read more]

New Lender Products; Freddie and Fannie Updates; Rates Moving Higher
Thu, 19 Apr 2018 13:11:34 GMT

Posted To: Pipeline PressRumors continue to swirl about practically every lender out there, and exaggeration is rampant. A company eliminates low producing LOs in Arizona and suddenly the jungle drums are saying it is closing its Southwest division. ..[read more]

MBS RECAP: More Warning Shots From Bonds
Wed, 18 Apr 2018 20:49:56 GMT

Posted To: MBS CommentaryToday was a more serious version of the same sort of warning shots seen at the end of last week. At that time, bond yields rose to challenge an intermediate ceiling at 2.835%, but didn't go out of their way to break it. T..[read more]

Mortgage Rates Inch Higher as Bonds Suggest More Trouble Ahead
Wed, 18 Apr 2018 19:25:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved higher today as bond markets continued a mildly weaker trend for the month of April. Bonds (which underlie rates) are under pressure for a variety of reasons. The most notable headwinds are longer-te..[read more]

UI Says Underwriters Should Consider Rent History
Wed, 18 Apr 2018 16:01:59 GMT

Posted To: MND NewsWireAccess to credit remains tight and the Urban Institute (UI) blames in part that lenders are not measuring the credit risk of borrowers appropriately. Laurie Goodman and Jun Zhu, writing in UI's Urban Wire blog say that paying r..[read more]

Freddie Mac: Shop Smart, Save Big
Wed, 18 Apr 2018 14:36:29 GMT

Posted To: MND NewsWireThey aren't suggesting you shop 'til you drop, but Freddie Mac says neither should borrowers buy the first mortgage they see. Doug McManus and Elias Yannopoulos, members of the company's Economic and Housing Research Group, wri..[read more]

MBS Day Ahead: Bonds At Mercy of Earnings Ramp-Up, But Curve Could Help
Wed, 18 Apr 2018 13:31:46 GMT

Posted To: MBS CommentaryThe term "earnings season" gets thrown around quite a bit in financial news, but what is it, exactly? Simply put, it's a period of several weeks each quarter where a majority of companies release their earnings reports. T..[read more]

TPO and Warehouse Products; Training Events; MBA Shows Decrease in Volume, Profits
Wed, 18 Apr 2018 13:15:24 GMT

Posted To: Pipeline PressThe MBA tells us that both volume and profits were down in 2017. “ Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017 , down from ..[read more]

Mortgage Application Activity Surges
Wed, 18 Apr 2018 12:31:12 GMT

Posted To: MND NewsWireThe pace of mortgage applications picked up during the week ended April 13, ending a two-week slide. The Mortgage Bankers Association (MBA) reported its indices for both purchase mortgages and refinances improved significantly ..[read more]

MBS RECAP: Bonds Hold Ground Despite Stronger Data/Stocks
Tue, 17 Apr 2018 20:47:10 GMT

Posted To: MBS CommentaryWith elevated stock/bond correlation of late, it's always worth noting when things move in the opposite direction. Today was such a day, with stocks making solid gains while bonds managed to hold their ground near unchang..[read more]

Modest Improvements For Mortgage Rates
Tue, 17 Apr 2018 20:07:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had a calm day. Lenders who had offered improved rate sheets yesterday afternoon didn't see much reason to drop rates any further today. Lenders who took a more conservative route yesterday ended up being ..[read more]

Trade War Risks a Dark Cloud For an Otherwise Bright Economy - Fannie Mae
Tue, 17 Apr 2018 16:27:44 GMT

Posted To: MND NewsWireFannie Mae's economists remain upbeat about economic growth in the medium term but said on Monday that they see increasing downside risks. In its March forecast, the company's Economic Research Team had predicted that growth wo..[read more]

MBS Day Ahead: Technically Under Attack, But is There Hidden Hope?
Tue, 17 Apr 2018 14:16:06 GMT

Posted To: MBS CommentaryMuch of the analysis of the past few days has focused on the downwardly sloped trend channel seen in today's first chart. This can be thought of as the "correction trend" that helped bonds settle down after a glut of sell..[read more]

Housing Starts, Permits Stage Spring Recovery
Tue, 17 Apr 2018 13:54:10 GMT

Posted To: MND NewsWireBoth housing permits and housing starts recovered in March from very disappointing performances in February. The New Residential Construction Report , jointly issued by the U.S. Census Bureau and the Department of Housing and U..[read more]

Annual Mortgage Bank Profits Fall by Nearly Half
Tue, 17 Apr 2018 13:18:48 GMT

Posted To: MND NewsWireLess than a month after reporting some bad news about mortgage production and profits in the fourth quarter of 2017 the Mortgage Bankers Association (MBA) is back with a roundup of those measures for the entire year. The news d..[read more]

Servicing Update - Where are Values and Why?; AUS and CRM Products
Tue, 17 Apr 2018 13:10:53 GMT

Posted To: Pipeline PressOne of the things that impact servicing values is foreclosure laws, and rates, in certain states. Foreclosures have dropped, thankfully the number of borrowers in trouble has dropped, but certain loan vintages, and certain st..[read more]

MBS RECAP: Bonds Claw Back to 'Unchanged' After Weaker Start
Mon, 16 Apr 2018 21:20:30 GMT

Posted To: MBS CommentaryBonds were quite a bit weaker in the overnight session. According to the average media report, this was in response to Syria-related developments. The "logic" was that because the US had launched missiles into Syria WITHOUT s..[read more]

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