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Real Estate News |
Mortgage Rates Win Heroic Battle; Still Losing The War
Fri, 06 Dec 2013 22:03:00 GMT
Posted To: Mortgage Rate WatchIf we examine today's activity in a vacuum, Mortgage rates fought and won a heroic battle in the sense they were able to hold steady to slightly stronger despite contending with a stronger-than-expected Employment Situat..[read more]
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MBS RECAP: Surprising Post-NFP Rally Just a Consolation Prize?
Fri, 06 Dec 2013 21:37:05 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary "So long MBS and thanks for putting up with all the abuse!" That might be a caption for today's Employment report. In a way, it's like a consolation prize for mortgage-backed-securities..[read more]
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Is Declining Share of Mortgage Market Among Big Banks Here to Stay?
Fri, 06 Dec 2013 20:40:09 GMT
Posted To: MND NewsWireToo Big to Fail Banks and the financial consolidation that created them are hot topics. A famous chart from Mother Jones shows that the big four banks (Citi, JP Morgan Chase, Bank of America, and Wells Fargo) got that way by sw..[read more]
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How Are MBS Possibly Improving After the Jobs Report?!
Fri, 06 Dec 2013 17:38:33 GMT
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary We've been discussing the past few days in the context of the Gorilla Analogy . If you did catch this morning's commentary, it's even more timely ( Jobs Report to Read Verdict on December..[read more]
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CFPB's Take on QM; QM & HECMs; Ellie Mae's Encompass Issue for Pipeline Hedging; Nations Direct Opens Correspondent
Fri, 06 Dec 2013 15:40:07 GMT
Posted To: Pipeline PressIn a speech this week to the Consumer Federation of America Consumer Finance Protection Bureau’s Director Richard Cordray said that it is a myth that borrowers who fall outside the qualified mortgage definition won&rsqu..[read more]
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The Day Ahead: Jobs Report to Read Verdict on December Taper Risk
Fri, 06 Dec 2013 06:08:00 GMT
Posted To: MBS CommentaryYesterday - Bond Markets extended losing streak after stronger GDP and Jobless Claims - MBS held their ground fairly well considering the data - Charts ended up looking like a choppy extension of Wednesday afternoon - Rate sh..[read more]
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MBS RECAP: Bond Markets Weather Today's Data with Eye on Tomorrow's
Thu, 05 Dec 2013 22:10:20 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary When this morning's economic data came out, stronger-than-expected Jobless Claims and GDP combined to cause brisk selling at first. By the end of the day, however, MBS made two strong s..[read more]
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Mortgage Rates Almost Perfectly Flat Ahead of Jobs Report
Thu, 05 Dec 2013 21:01:00 GMT
Posted To: Mortgage Rate WatchMortgage rates were almost perfectly flat today, despite moderate weakness in bond markets. This is largely a factor of yesterday's weakness and the fact that it coincided with the morning rate sheets. While some lenders..[read more]
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Small Markets Leading Way for 2014 Housing Recovery
Thu, 05 Dec 2013 19:13:32 GMT
Posted To: MND NewsWireSmaller metropolitan areas appear to be leading the country in a return to normal levels of economic and housing activity the National Association of Home Builders (NAHB) said today. The associations Leading Markets Index, prod..[read more]
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MBA Sounds Battle Cry For Independent Mortgage Banks
Thu, 05 Dec 2013 18:42:30 GMT
Posted To: MND NewsWireDavid H. Stevens, president & CEO of the Mortgage Bankers Association (MBA), said today that independently owned and operated mortgage bankers are the building blocks of MBA membership. Stevens, speaking to MBA's second annual ..[read more]
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MBS MID-DAY: Treading Water After Morning Sell-Off
Thu, 05 Dec 2013 17:33:00 GMT
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Production MBS are only 3 ticks down on the day at the moment, which belies the volatility seen so far. Some of that is evident in the pricing snapshot below, which shows Fannie 4.0s down..[read more]
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Clarification on Agency QM status; Fitch, Moody's, and Ocwen's Take on Non-QM Loans
Thu, 05 Dec 2013 15:37:59 GMT
Posted To: Pipeline Press"A group of government regulators out hiking in the Artic has managed to revive a caveman who was frozen for thousands of years. Communications so far have consisted of monosyllabic grunts, but the caveman is confident he can..[read more]
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The Day Ahead: A Gorilla Analogy for Momentum on NFP Week
Thu, 05 Dec 2013 06:18:00 GMT
Posted To: MBS CommentaryYesterday - Bond markets sold off at the outset on stronger ADP Employment Data - 10's went sideways and MBS kept selling until 930am - Sellers were exhausted by then, and weaker ISM data at 10am helped pave over the floor in..[read more]
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MBS RECAP: Uneventful Afternoon and a Surprise Guest
Wed, 04 Dec 2013 21:24:15 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Bond markets were treated to a surprise guest this afternoon as "MBS outperformance" returned after being absent for nearly a month. In other words, MBS lost less ground than Treasuries..[read more]
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Mortgage Rates Push up to New 2-mo Highs
Wed, 04 Dec 2013 20:50:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved higher again today, reaching levels not seen since September 17th--the day before the Fed Announced "no change" to QE asset purchases. The mortgage-backed-securities (MBS) that most directly affect r..[read more]
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Loan Profits Plummet with Declining Volume, Increased Compliance Cost
Wed, 04 Dec 2013 18:19:55 GMT
Posted To: MND NewsWireMortgage profits took a big hit in the third quarter of 2013, dropping by more than half of that reported in the second quarter. The Mortgage Bankers Association (MBA) said independent mortgage banks and mortgage subsidiaries o..[read more]
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Big Banks Post Substantial Settlement Compliance Errors
Wed, 04 Dec 2013 17:49:10 GMT
Posted To: MND NewsWireSeveral of the banks involved in the February 2012 $25 billion settlement with state and federal government agencies " still have additional work to do in their efforts to fully comply" with its terms, Joseph A. Smith, Jr., the..[read more]
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Foreclosures Skyrocketing for High-Priced Homes
Wed, 04 Dec 2013 17:37:23 GMT
Posted To: MND NewsWireWhile the numbers are small - less than 200 homes - the incidence of foreclosure among ultra-high end homes has skyrocketed recently, even as the rate for more mundane homes has plunged. RealtyTrac said today that foreclosure a..[read more]
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MBS MID-DAY: Much Weaker After ADP; ISM Not Much Help
Wed, 04 Dec 2013 17:27:49 GMT
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary The ADP Employment Report, as expected, was the biggest factor in bond market movement this morning. After the numbers hit at 8:15, volume popped and prices tanked. For the sake of compar..[read more]
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Biggest Monthly Advance for New Home Sales since 1980
Wed, 04 Dec 2013 15:59:08 GMT
Posted To: MND NewsWireThe U.S. Census Bureau and the Department of Housing and Urban Development released their joint report on new home sales in September and October . The regular September report was not issued in October due to the government sh..[read more]
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BB&T Exits TPO; Impac Holdings to Sell AmeriHome; MBA Provides Guidance on 3% Points and Fees
Wed, 04 Dec 2013 15:49:59 GMT
Posted To: Pipeline PressIf you have questions about affiliate fees, and what fees are included in the 3% threshold, the MBA has answers! Here you go , and one more here . Although direction from the FHFA may change in the future, one way to think ab..[read more]
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Holiday Takes Toll on Mortgage Applications
Wed, 04 Dec 2013 15:12:36 GMT
Posted To: MND NewsWireIt was a short week and one in which most Americans focused on food and families so the plunging number of mortgage applications filed during the week ended November 29 was not a surprise. The Mortgage Bankers Association (MBA)..[read more]
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The Day Ahead: ADP Employment, New Home Sales, and ISM Services
Wed, 04 Dec 2013 12:30:00 GMT
Posted To: MBS Commentaryesterday - Data-free day proved frustrating for MBS - Despite Treasury Improvements, MBS lost ground - Lenders repriced in the afternoon, rates at or near 2-mo+ highs - Several potential problems 'ganging-up' on MBS, some wil..[read more]
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MBS RECAP: More Underperformance Turns Green Day Red
Tue, 03 Dec 2013 21:30:03 GMT
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary MBS and Treasuries diverged again today. This road more-traveled for MBS has several sources of justification and explanation, but it's really the combination that's resulting in such d..[read more]
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Mortgage Rates Steady at First, Then Higher Into Afternoon
Tue, 03 Dec 2013 20:59:00 GMT
Posted To: Mortgage Rate WatchMortgage rates began the day steady to slightly lower on average, though more than a few lenders were actually in worse shape. The average stayed in slightly stronger territory but that may change by the end of the day a..[read more]
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