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MBS RECAP: The Real Drama is in Europe, but Little to do with Greece
Wed, 03 Jun 2015 21:37:56 GMT

Posted To: MBS CommentaryIf you missed it, or are otherwise looking for a recap on why bond markets got crushed today, here it is . Nothing materially changed from that update, and that's no surprise considering the source of the drama was Europe..[read more]

CFPB NOT Delaying Implementation of TRID, Just Enforcement
Wed, 03 Jun 2015 18:54:00 GMT

Posted To: MND NewsWireI am here in Denver and had the opportunity this morning to hear MBA President Dave Stevens, under the direction of CFPB Director Richard Cordray, announce an update to the TRID changes. Specifically, there will be no delay in ..[read more]

MBS MID-DAY: Why are Bond Markets Getting Destroyed Today?!
Wed, 03 Jun 2015 17:00:42 GMT

Posted To: MBS CommentaryThis morning's commentary said " things get serious ," and that we could well expect to depart the recent range in a big way . Now, we are. 10yr yields are already up to 2.373--a new high for 2015, and mortgage rates are ..[read more]

Chase Layoffs; Nationstar Lawsuit; Profits Per Loan in 1st Quarter; Big Fannie Seller Changes
Wed, 03 Jun 2015 15:01:03 GMT

Posted To: Pipeline PressThere is plenty of dialog and discussion in the lending industry. Certainly some of the conversation involves the fact that, for the popular press, bad news sells. When was the last time anyone saw an article about how 97 or ..[read more]

Holiday Trumps Rates as Mortgage Applications Tumble
Wed, 03 Jun 2015 14:02:44 GMT

Posted To: MND NewsWireThe week ended May 29 was another of those holiday shortened weeks when the most relevant comment that can be made about mortgage application numbers is probably 'Never mind!" The Mortgage Bankers Association said that mortgage..[read more]

MBS Day Ahead: Things Get Serious
Wed, 03 Jun 2015 11:07:34 GMT

Posted To: MBS CommentaryBy the time you read this, things may already have gotten serious. The ECB announcement is at 7:45am Eastern, and although global markets are highly anxious about what they might say, they tend to say the important stuff via ..[read more]

Mortgage Rates Jump to new 2015 Highs
Tue, 02 Jun 2015 21:25:00 GMT

Posted To: Mortgage Rate WatchMortgage rates jumped significantly higher today, bringing most lenders to their highest levels of 2015. The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios had briefly made it back to 3.875% ..[read more]

MBS RECAP: Bonds Follow Bunds, Then Nothing at All
Tue, 02 Jun 2015 21:20:07 GMT

Posted To: MBS CommentaryBond markets were in bad shape right from the outset today. By the end of it, 10yr yields had fully traversed THE range laid out in this morning's commentary (2.13-2.28). So that means we've essentially traversed the ..[read more]

Home Prices Ignoring Predictions
Tue, 02 Jun 2015 20:51:29 GMT

Posted To: MND NewsWireFor some time conventional wisdom has held that home price increases are slowin g and would continue to do so, but the CoreLogic Home Price Index (HPI) has joined the S&P Dow Jones Case-Shiller Index in belying that prediction...[read more]

Provident Charged with Discrimination on Loans from 2006 to 2011
Tue, 02 Jun 2015 20:40:28 GMT

Posted To: MND NewsWireProvident Funding Associates has been charged by two federal agencies with charging higher broker fees to minority borrowers . The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) filed the joint ..[read more]

MBS MID-DAY: Series of Unfortunate Events for Bond Markets
Tue, 02 Jun 2015 17:50:25 GMT

Posted To: MBS CommentaryIn terms of the event calendar, today was supposed to be quiet. One of the wild cards laid out in this morning's commentary was an unexpected headline from Europe. We ended up getting something to that effect early this m..[read more]

TRID training; Supreme Court Decides 2nd Mortgage Case; Title and MI Updates
Tue, 02 Jun 2015 14:45:46 GMT

Posted To: Pipeline PressSome in the industry are focused on Wells Fargo CEO John Stumpf's recent comments saying that cybersecurity and an evolving payments industry are the two biggest risks to banks. "It's not if but when," right? Mortgage Returns..[read more]

MBS Day Ahead: One Day of Calm Before the Storm
Tue, 02 Jun 2015 11:34:29 GMT

Posted To: MBS CommentaryOn some occasions, we look ahead to big-ticket events like central bank announcements and NFP reports with more anticipation and anxiety than they deserve. That's understandable because these events historically pack the ..[read more]

MBS RECAP: 2015 Realities Continue to Frustrate Bond Markets
Mon, 01 Jun 2015 21:33:36 GMT

Posted To: MBS CommentaryWelcome to the 1st half of 2015. This is the 6 month period where European interest rates defied even the most bullish expectations after Europe began the QE process. It resulted in German 10yr Bunds getting very close to 0% ..[read more]

Mortgage Rates Bounce Higher After 7 Day Winning Streak
Mon, 01 Jun 2015 20:54:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved noticeably higher to begin the month, bringing the average conventional 30yr fixed quote back to 4.0% after briefly hitting 3.875% on Friday. Today's move higher follows 7 consecutive days where rate..[read more]

New Home Activity has a Decidedly Southern Drawl
Mon, 01 Jun 2015 18:52:35 GMT

Posted To: MND NewsWireThe old adage might be "go West" but new home buyers aren't listening. A recent analysis by CoreLogic shows that the strongest new home sales markets are overwhelmingly in the South, especially Texas and North and South Carolin..[read more]

MBS MID-DAY: Widespread Negative Reprices as Monday Pattern Continues
Mon, 01 Jun 2015 17:39:43 GMT

Posted To: MBS CommentaryWith corporate issuance subsiding somewhat and month-end tradeflows providing steadier demand, the last week of May proved to be an eye of the storm. As we discussed last Friday and again this morning, the new month reinvigor..[read more]

Construction Spending Tops $1 Trillion
Mon, 01 Jun 2015 14:58:50 GMT

Posted To: MND NewsWireTotal spending on construction ticked up moderately in April, rising to a seasonally adjusted annual rate of $1,006.1 billion the U.S. Census Bureau announced today. The number is a 2.2 percent increase over the revised (from $..[read more]

CFPB Developments Including Targeting Provident for Broker Business Done Years Ago
Mon, 01 Jun 2015 14:14:21 GMT

Posted To: Pipeline PressWhen I grow up I want to be wealthy. And thanks to this list of the wealthiest zip codes in America , I know just where to move. (Interesting to compare those versus states with no state income tax.) Unfortunately it doesn't ..[read more]

MBS Day Ahead: Action-Packed Week of Economic Data and Events
Mon, 01 Jun 2015 11:34:30 GMT

Posted To: MBS CommentaryLast week helped the month of May recover a few shreds of its dignity. As hard as it is to believe, it was the first week in 2015 where each day's closing levels were the same or better than the previous close. Granted, i..[read more]

MBS RECAP: Bond Markets Go out at May's Best Levels
Fri, 29 May 2015 21:30:09 GMT

Posted To: MBS CommentaryIt came right down to the wire . The best 3pm closing level for 10yr yields was previously seen on May 1st at 2.117. We hovered near those levels for much of the day today, but ultimately hit 2.095 by 3pm. Even though bonds c..[read more]

Mortgage Rates Back Into the 3's to End The Month
Fri, 29 May 2015 20:00:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved lower again today , making this the 7th straight day where rates have either held steady or improved. Over that time, no single day stands out as clearly better than the others. Instead, the gains ha..[read more]

State, CFPB win Judgment against Florida Loan Mod Scheme
Fri, 29 May 2015 17:57:22 GMT

Posted To: MND NewsWireA Florida law firm and its several affiliates which had already been shuttered by the State of Florida and the Consumer Financial Protection Bureau (CFPB) were ordered on Friday to pay a total of $27.7 million in damages and pe..[read more]

Realtors Confronting Problems of Structure, Leadership, and Technology
Fri, 29 May 2015 17:53:44 GMT

Posted To: MND NewsWireThe Definitive Analysis of Negative Game Changers Emerging in Real Estate or D.A.N.G.E.R report prepared for the National Association of Realtors® (NAR) by author Stefan Swanepoel is blunt in addressing vulnerabilities of t..[read more]

MBS MID-DAY: After Data, Bonds on Cruise Control at Slightly Stronger Levels
Fri, 29 May 2015 17:15:06 GMT

Posted To: MBS CommentaryToday has quickly become the 3rd day of exceptionally calm trading relative to a heretofore tumultuous month. The even-keeled vibes began right from the start of the overnight session with 10yr yields trading in a 2.12-2.14 r..[read more]

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