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Real Estate News
New Home Sales Build on January Strength
Thu, 23 Mar 2017 15:14:15 GMT

Posted To: MND NewsWireNew home sales posted a much better February than did existing home sales and, in fact, better than most analysts had expected. The U.S. Census Bureau and the Department of Housing and Urban Development report that sales of new..[read more]

Financial Services Committee Hears Arguments to "Restructure CFPB"
Thu, 23 Mar 2017 14:15:49 GMT

Posted To: MND NewsWireThe House Financial Services Committee (FSC) held a hearing on Tuesday into the constitutionality of the structure of the Consumer Financial Protection Bureau (CFPB). The hearing arose in part from a pending case, PHH Corp. v. ..[read more]

Loan Pay-Offs Hit Three-Year Low
Thu, 23 Mar 2017 13:57:49 GMT

Posted To: MND NewsWireAs further evidence that the era of refinancing is ending, Black Knight Financial Services says that prepayment speeds (the SSM rate), historically a good indicator of refinancing , declined 15 percent in February. In its regul..[read more]

From Apps to Secondary, a Multitude of Vendor Changes and Announcements
Thu, 23 Mar 2017 13:10:30 GMT

Posted To: Pipeline PressHave you been asked to join the Trump Administration’ new group focusing on mortgage finance policy? No? My cat Myrtle hasn't gotten the nod (yet) either, but if you want on, you'd better give them a call. Mark Calabria..[read more]

MBS Day Ahead: Bonds Fight For The Old Ways
Thu, 23 Mar 2017 11:46:23 GMT

Posted To: MBS CommentaryIn the post-apocalyptic hell (relative) that is the post-election bond market trading environment, there was a noble group of traders who attempted to stand strong against the tyranny of those who would deign to SELL Treasuri..[read more]

Legal News; CFPB Reform Update; Fannie, Freddie, Conforming Lender Changes
Wed, 22 Mar 2017 21:36:11 GMT

Posted To: Pipeline Press“Dance like no one is watching. E-mail like one day it may be read aloud in a deposition.” Here's some pithier legal news. The Department of Justice is taking PHH's side in the lawsuit over the structure of the CF..[read more]

MBS RECAP: Bonds Simmer Down Ahead of Pivotal Events
Wed, 22 Mar 2017 21:30:30 GMT

Posted To: MBS CommentaryBond markets began the day in slightly stronger territory and quickly embarked on the same sort of rally that characterized yesterday morning. Today's rally was driven, in part, by traders covering short bets on bonds (i...[read more]

Mortgage Rates Slightly Lower, but Volatility Looms
Wed, 22 Mar 2017 19:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were lower for the 7th day in a row today, further extending their push into the lowest levels of the month. At first, that positive movement was driven by relief that the Fed's rate hike outlook didn't ac..[read more]

Existing Sales Stifled By Inventory Constraints
Wed, 22 Mar 2017 15:20:44 GMT

Posted To: MND NewsWireExisting home sales burst out of the box in January to start the year out with a 3.2 percent increase over the previous month. Those gains, however, were wiped out in February . The National Association of Realtors® (NAR) s..[read more]

Home Prices Slam on The Brakes After 5-Year Run
Wed, 22 Mar 2017 14:56:27 GMT

Posted To: MND NewsWireWhat a difference a month makes. After posting monthly price increase in all but one month since early 2012, the Federal Housing Finance Agency reported on Wednesday that its House Price Index (HPI) has slammed on the brakes . ..[read more]

MBS Day Ahead: Lull in Data and Fed Speakers: Calm Before Storm?
Wed, 22 Mar 2017 13:23:14 GMT

Posted To: MBS CommentaryThings are getting exciting for markets, and not simply because bond yields have returned to the core of their prevailing range for 2017 just after all hope looked lost. Some serious questions are about to be answered, and bo..[read more]

Minor Correction For Mortgage Applications
Wed, 22 Mar 2017 12:36:40 GMT

Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) said today that the volume of applications for both purchase mortgages and refinancing retreated last week from their levels during the week ended March 10. MBA's Market Composite Index, a..[read more]

MBS RECAP: Things Could Get Very Interesting Very Quickly For Stocks/Bonds
Tue, 21 Mar 2017 21:21:15 GMT

Posted To: MBS CommentaryIf there was one catalyst for the overall surge toward higher stocks and rates at the end of 2016, it was the expectation that the new administration's policies would do " something ." "Something" took on several forms de..[read more]

Mortgage Rates Down to March Lows
Tue, 21 Mar 2017 20:14:00 GMT

Posted To: Mortgage Rate WatchMortgage rates continued lower today as political uncertainty sparked the biggest day of stock market losses since the election. In general, short term pain for stocks benefits bonds. When demand for bonds increases, rat..[read more]

Profits Plummet as Rising Rates Constrict Loan Volume
Tue, 21 Mar 2017 16:39:22 GMT

Posted To: MND NewsWireThe reported net profit per loan reported to the Mortgage Bankers Association (MBA) by independent mortgage banks and mortgage subsidiaries of chartered banks cratered during the fourth quarter of 2016. The MBA said today the a..[read more]

CoreLogic Notes Quality of Recent Loan Originations, Warns of Risks Ahead
Tue, 21 Mar 2017 16:36:38 GMT

Posted To: MND NewsWireIn terms of credit risk, the loans originated in the fourth quarter of last year are among the highest quality mortgages originated since 2001 according to CoreLogic. The company's Housing Credit Index (HCI) compares those loan..[read more]

More on Zillow; Primer on a Flat Yield Curve: Any Change to Rating Agency Model?
Tue, 21 Mar 2017 14:16:05 GMT

Posted To: Pipeline PressWho can you trust? Digital Journal reports new malware targets Google Chrome users with a pop up that indicates a new font needs to be installed for websites to load properly. Those who click on it download the malware. We ca..[read more]

MBS Day Ahead: Lightest Day of The Week For Data and Fed Speakers
Tue, 21 Mar 2017 13:13:21 GMT

Posted To: MBS CommentaryBond markets continue making a case for re-entry into the core of the range that has been intact since December 2016. The December Fed meeting helped set the highs of that range, and the March Fed meeting has helped to reinfo..[read more]

MBS RECAP: Uneventful Green Days Are Starting to Add Up
Mon, 20 Mar 2017 23:14:16 GMT

Posted To: MBS CommentaryMuch like Friday, today was uneventful and moderately positive for bond markets. At some point, we have to consider the combined effects of these sorts of days. Individually, they're " nice ," but not too terribly special..[read more]

Mortgage Rates at 2 Week Lows Amid Political Uncertainty
Mon, 20 Mar 2017 19:58:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were steady-to-slightly lower today, keeping them in line with the lowest levels in 2 weeks and very close to the lowest levels of the month. For most lenders, that means conventional 30yr fixed rate quote..[read more]

Fannie Mae Notes Hopeful Construction Outlook
Mon, 20 Mar 2017 19:28:23 GMT

Posted To: MND NewsWireFannie Mae's March economic forecast was written before the FOMC announced an increase in the fed funds rate last Wednesday. The company's economists assumed there would be an increase, but hedged some of their predictions by n..[read more]

Congress Holding Hearing on CFPB Constitutionality
Mon, 20 Mar 2017 18:39:07 GMT

Posted To: MND NewsWireThe House Financial Services Committee has scheduled a hearing on March 21 titled "The Bureau of Consumer Financial Protection's (CFPB's) Unconstitutional Design." The hearing comes on the heels of a decision by the Department ..[read more]

Zillow Saga Continues; Training and Events
Mon, 20 Mar 2017 14:58:10 GMT

Posted To: Pipeline PressSay it ain’t so! Fannie is being bought by an Italian company?! Sure enough, Italy’s Ferrero International SA is buying U.S.-based Fannie May Confections Brands for $115 million. Ferrero already owns Nutella and T..[read more]

MBS Week Ahead: Light on Data But Fed Speakers May Shape The Outlook
Mon, 20 Mar 2017 13:15:32 GMT

Posted To: MBS CommentaryThis week will be fairly light in terms of scheduled economic data . The first relatively significant report won't be out until Wednesday (Existing Home Sales). The remaining days of the week only have one major report ea..[read more]

MBS RECAP: Bonds Would Not Get Pinched Today
Fri, 17 Mar 2017 21:28:23 GMT

Posted To: MBS CommentaryIf wearing some green is all it takes, bonds would have escaped today pinch-free. Treasuries and MBS began the day with just a token amount of green (i.e. bond market improvement), but readily found more after inflation expec..[read more]

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