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MBS RECAP: Nothing to be Mad About, But...
Fri, 18 May 2018 20:43:51 GMT

Posted To: MBS CommentaryBonds rallied today for the first time all week, and fairly well at that! 10yr yields fell more than 5bps and Fannie 3.5 MBS rose nearly 3/8ths of a point. Not much to be mad about there, right? Indeed, there's nothing to..[read more]

Temporary Factors Help Mortgage Rates... Temporarily
Fri, 18 May 2018 19:31:00 GMT

Posted To: Mortgage Rate WatchMortgage rates caught some small semblance of a break today. If it's not apparent based on that assessment in conjunction with the headline, the improvements certainly left something to be desired, even though that's to ..[read more]

MBS Day Ahead: What Is a Short Squeeze And How Could It Help Us?
Fri, 18 May 2018 13:21:24 GMT

Posted To: MBS CommentaryThe notion of "positions" is extremely important to the bond market (and to any market for that matter). At the most basic level, a LONG position seeks to profit from prices rising (or yields falling) and a SHORT position see..[read more]

Subservicing, Compliance, and Warehouse Products; Private Mortgage Insurance Trends
Fri, 18 May 2018 13:18:19 GMT

Posted To: Pipeline PressFolks heading to the MBA’s Secondary conference should know that there are 329 street-level newsstands in New York City. (The peak was 1,500 in the 1950s.) By law, the maximum price for anything at a newsstand is $10, m..[read more]

NAR Curtails Earlier Home Sales Estimates
Fri, 18 May 2018 13:09:19 GMT

Posted To: MND NewsWireIn the face of continuing inventory shortages, declining consumer sentiment in favor of buying a home, and concern about the homeownership impacts of the 2017 tax cut bill, the National Association of Realtors® (NAR) has re..[read more]

MBS RECAP: Bonds Still On The Ropes
Thu, 17 May 2018 21:40:13 GMT

Posted To: MBS CommentaryToday was the calmest of the past 3 days of craziness, although the higher-than-average volume suggests things are still happening behind the scenes. Specifically , that volume can be largely attributed to traders cashing in ..[read more]

Mortgage Rates Are Actually Higher Than You've Heard
Thu, 17 May 2018 20:48:00 GMT

Posted To: Mortgage Rate WatchIt's Thursday, which is when Freddie Mac's weekly Mortgage rate survey comes out. The survey is the most widely quoted source material for major media outlets. As such, headlines abound about the "highest mortgage rates ..[read more]

MBS Day Ahead: Great News! Maybe...
Thu, 17 May 2018 14:39:22 GMT

Posted To: MBS CommentaryIt's been pretty doomy and gloomy around here so far this week, what with the spike to the highest 10yr yields in nearly 7 years and what not. So how about an op-ed counterpoint to all the gloom? I'll go ahead and wri..[read more]

Construction and VA Rehab Products; FHA and Lender Disaster News; Economy Solid
Thu, 17 May 2018 13:45:26 GMT

Posted To: Pipeline PressI don’t go anywhere without my sugar glider, including most of this week spent in Austin, TX with TMS . No, a sugar glider is not a risqué pet name for a body part, it is pretty much a flying possum. Okay, I don&..[read more]

White House Could Preempt Congress' Inaction on GSEs
Thu, 17 May 2018 13:25:05 GMT

Posted To: MND NewsWireTwo noted economists seem to be holding little hope that Congress will take up in any way changing the status quo of the government-sponsored enterprises (GSEs) before adjourning next January. However, they say it is an issue o..[read more]

Rising Rates Tilt Origination Composition
Thu, 17 May 2018 13:06:43 GMT

Posted To: MND NewsWireThe interest rates on loans that closed in April were the highest since Ellie Mae started tracking data in 2011. According to the company's Origination Insight Report for April, the 30-year fixed rate for loans averaged 4.79 pe..[read more]

MBS RECAP: Mostly an Aftershock For Yesterday's Bond Rout
Wed, 16 May 2018 22:39:53 GMT

Posted To: MBS CommentaryIf you happened to be out of the office yesterday, 10yr yields finally broke out of their most recent consolidation pattern and moved quickly to the highest levels in just under 7 years. Big spikes can sometimes be isolated. ..[read more]

Rates Inch Further Into Long-Term Highs
Wed, 16 May 2018 21:26:00 GMT

Posted To: Mortgage Rate WatchMortgage rates spiked to 7-year highs yesterday. While today's move was nowhere near the same size, it was in the same unfriendly direction. That makes it the worst day for mortgage rates since the middle of 2011. Whethe..[read more]

The Economy, Employment, Rising Home Prices Whittle Away at Delinquencies
Wed, 16 May 2018 16:51:22 GMT

Posted To: MND NewsWireImproving loan performance doesn't make headlines any longer, but worth noting that the improvement is still good news. The Mortgage Bankers Association (MBA) says the first quarter of 2018 saw even more progress in reducing de..[read more]

Housing Starts Weakened as Expected in April
Wed, 16 May 2018 14:52:01 GMT

Posted To: MND NewsWireThe leading construction indicators performed generally as analysts had predicted in April, stepping back from March's solid increases in both permits and housing starts. Both sectors had been driven that month by surges in mul..[read more]

MBS Day Ahead: Without Yesterday, Today would look Awful
Wed, 16 May 2018 13:30:29 GMT

Posted To: MBS CommentaryToday is starting out with just a hint of green on the screens. While that's certainly much better than the alternative (some historical examples see multiple days of yesterday's level of selling), it's still real..[read more]

Refi Applications at 8-Year Low
Wed, 16 May 2018 13:18:10 GMT

Posted To: MND NewsWireMortgage activity slowed again last week. The Mortgage Bankers Association said its Market Composite Index, which measures the volume of mortgage loan applications, was down on a seasonally adjusted basis by 2.7 percent during ..[read more]

Construction, Non-QM Products; MI Program Developments
Wed, 16 May 2018 13:10:41 GMT

Posted To: Pipeline PressWhat does a chief operating officer do, and how much do they make? For builders, the role is vague but is often the #2 person at the company. COO comp, however, for publicly-held builders is well documented. And they make som..[read more]

MBS RECAP: Bonds Tank; Yields Surge Past 2014 Highs
Tue, 15 May 2018 21:06:04 GMT

Posted To: MBS CommentaryJuly 8, 2011. That's how far you'd have to go back to see higher 10yr yields than we saw today. At their worst, they were at 3.0945% . At the close, it doesn't look like they'll be much better (currently tradi..[read more]

Mortgage Rates Jump to 7-Year Highs
Tue, 15 May 2018 20:02:00 GMT

Posted To: Mortgage Rate WatchMortgage rates spiked in a big way today, bringing some lenders to the highest levels in nearly 7 years (you'd need to go back to July 2011 to see worse). That heavy-hitting headline is largely due to the fact that rates..[read more]

Builder Confidence Perks Up After Three-Month Slide
Tue, 15 May 2018 14:37:35 GMT

Posted To: MND NewsWireThe National Association of Home Builders (NAHB) and Wells Fargo said on Tuesday that builder confidence in the new home market ticked up two points on their Housing Market Index (HMII). The May reading was 70, the fourth time ..[read more]

MBS Day Ahead: Since The 1980's, Only 3 Other Days Like Today
Tue, 15 May 2018 13:51:14 GMT

Posted To: MBS CommentaryI hate clickbait with a passion. Today's title might sound like clickbait. Do I really expect you to believe that there have only been 4 days like today since the 1980's when it comes to bond markets? Actually , yes....[read more]

Marketing Products; Training on Underwriting, Compliance, and Business Income
Tue, 15 May 2018 13:12:19 GMT

Posted To: Pipeline PressLegal eagles out there are buzzing about PHH deciding not to appeal the U.S. Court of Appeals for D.C.’s January decision in its CFPB challenge. Recall that four months ago the U.S. Court of Appeals for D.C. Circuit rul..[read more]

MBS RECAP: Impressionable Bonds Hit by Central Bank Comments and Issuance
Mon, 14 May 2018 20:29:53 GMT

Posted To: MBS CommentaryLow volume and lighter-than-normal liquidity left US bond markets more impressionable than normal today. Or perhaps it IS normal given that it's a data-free Monday in the middle of May and the day after Mother's Day. ..[read more]

Mortgage Rates Sideways But Market Says They Shouldn't Be
Mon, 14 May 2018 20:00:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably wea..[read more]

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