| Real Estate News |
Explaining The MBS Settlement Process
Tue, 09 Mar 2010 21:51:00 GMT
Posted To: MBS Commentary10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But the..[read more]
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Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
Tue, 09 Mar 2010 20:45:28 GMT
Posted To: MND NewsWireCommercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Ba..[read more]
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HUD Enforcing Job Creation Requirements for State and Local Governments
Tue, 09 Mar 2010 20:37:53 GMT
Posted To: MND NewsWireThe Department of Housing and Urban Development (HUD) has released the results of the first stage of its increased oversight and enforcement of job creation requirements under Section 3 of the Housing and Urban Development Act ..[read more]
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MBS AFTERNOON: Potential Reprices For The Better
Tue, 09 Mar 2010 20:01:00 GMT
Posted To: MBS CommentaryMBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly likely From the Ninja: Mortgages are still on hold..[read more]
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Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News
Tue, 09 Mar 2010 19:56:05 GMT
Posted To: The Garrett Watts ReportWe commented last week how a lot of people didn’t know what HSBC stood for... If you go back to when they bought a bank in Buffalo, New York to established themselves in the U.S. The joke was that HSBC stood f..[read more]
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MBS LUNCH: 3 Year Note Auction Results And Reaction
Tue, 09 Mar 2010 18:19:00 GMT
Posted To: MBS CommentaryImmediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day, up 1 tick at 101-07. The 10yr note is also up a t..[read more]
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MBS MORNING: Fed President Reminds About Labor Market Weakness
Tue, 09 Mar 2010 16:23:00 GMT
Posted To: MBS CommentaryI am kinda bummed no one laughed at my Kathy Ireland reference in MBS OPEN . Her dress was so tight you could see her liver processing the booze (that's a rumor). I suppose I could have poked fun at Sarah Jessica Parker&#..[read more]
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Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat
Tue, 09 Mar 2010 16:05:19 GMT
Posted To: Mortgage Rate WatchAfter last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices of mortgage backed securities never moved too..[read more]
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Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
Tue, 09 Mar 2010 15:29:25 GMT
Posted To: Pipeline PressOften I start the commentary off saying something witty, but I couldn't think of anything clever so I thought I'd suggest you take a look at this video about, of all things, seat belts. It is making the rounds, and wi..[read more]
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MBS OPEN: Flight to Quality in Light Trading Volume
Tue, 09 Mar 2010 13:46:00 GMT
Posted To: MBS CommentaryGood Morning. Happy Standardized Test Tuesday! My nephew has Maryland School Assessment tests today, we were pre-gaming this morning. I remember those days pretty well...mostly because they were so incredibly boring and slow...[read more]
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The Day Ahead: Stocks Dip on Sovereign Debt Fears Abroad. Treasuries Get Flight to Quality
Tue, 09 Mar 2010 13:08:47 GMT
Posted To: MND NewsWireEquity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 points to 1,132.75. “The mood in global marke..[read more]
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MBS CLOSE: Strong Vs. Treasuries, But Lackluster Day All Around
Mon, 08 Mar 2010 22:05:00 GMT
Posted To: MBS CommentaryNo material change since 10:30AM MBS 4.5's unchanged on the day at 101-07 10yr note 4bps higher on the day to 3.72 Stocks were up, down, up, closed flat No data tomorrow either, then 3yr note auction at 1pm Fed Evans at 9..[read more]
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MBA: Servicing Specialists Should Not be Required to Obtain SAFE Act Licensing
Mon, 08 Mar 2010 20:35:01 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA), American Bankers Association (ABA), and the American Financial Services Association (AFSA) joined with 11 state and local mortgage lending groups on Friday to send a letter to the U.S. De..[read more]
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GSEs: Long Term Rates Again Below 5 Percent
Mon, 08 Mar 2010 20:11:40 GMT
Posted To: MND NewsWireMortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM..[read more]
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MBS AFTERNOON: Extremely Quiet Day Winding Down
Mon, 08 Mar 2010 20:10:00 GMT
Posted To: MBS Commentaryridiculously flat trading in MBS and Tsy's low volume, sparse data calendar, looking toward auctions Did we mention flat trading? You'll rarely see MBS and Treasuries trade this flat for this much of the day. From 10:..[read more]
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HVCC is Here to Stay. Any Chance for Improvements to the Process?
Mon, 08 Mar 2010 20:01:00 GMT
Posted To: The Garrett Watts ReportOur FOCIS –plus study has a section on Home Value Code of Conduct (HVCC) compliance. Warehouse lenders in particular are interested in whether a mortgage company has a written HVCC policy and what process lend..[read more]
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MBS LUNCH: Support Found at Mid-Range Marks. Preparing for More Debt Supply
Mon, 08 Mar 2010 17:23:00 GMT
Posted To: MBS CommentaryDid anyone happen to catch Saturday Night Live this weekend? Alan, the lovable moron from "The Hangover" was the host. I suppose I should share his real name too: Zach Galifianakis. I usually watch SNL on Hulu whene..[read more]
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The Ultimate Solution for the Appraisal Industry
Mon, 08 Mar 2010 16:59:35 GMT
Posted To: Community CommentarySince the inception of the Home Valuation Code of Conduct (HVCC) in May 2009, there has been much discussion, and misinformation, about the benefits and harm caused by the controversial agreement with the New York Attor..[read more]
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Mortgage Rates Hold Near Best Levels of 2010 as Benchmark Yields Rise
Mon, 08 Mar 2010 16:33:08 GMT
Posted To: Mortgage Rate WatchI described last week as a roller coaster ride for mortgage rates. A busy schedule of economic data provided much of the motivation for movement in the rates marketplace with the release of the Employment Situation Repor..[read more]
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Credit Unions Expanding Loan Production; Ready for Buybacks?; Lender Rating Model; FHA Approval News; Four More Bank Failures
Mon, 08 Mar 2010 16:01:52 GMT
Posted To: Pipeline PressWhen I was a kid, I used to pray every night for a new bike. Then I realized that God doesn't work that way. So instead I stole a bike and asked Him to forgive me. Neither strategy worked for four more banks, as the FDIC ..[read more]
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MBS MORNING: Benchmark Rates Higher in Quiet Trading Environment
Mon, 08 Mar 2010 15:27:00 GMT
Posted To: MBS CommentaryGood Morning. Happy Monday. I don't know what the weather was like this weekend where you live, but here in the DC/Baltimore metro area we finally had a change of pace from snow and ice: SUN ! Every field was occupied wit..[read more]
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The Week Ahead: Treasury Auctions Highlight Slow Econ Calendar Until Friday
Mon, 08 Mar 2010 13:20:07 GMT
Posted To: MND NewsWireEquity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly hig..[read more]
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MBS CLOSE: Stunning Display Of Courage Under Fire
Fri, 05 Mar 2010 22:49:00 GMT
Posted To: MBS Commentary"Little Engine That Could" status certainly has to go to MBS this week. Like the rest of the fixed income market, after a largely positive 2 weeks, MBS came under heavy fire today with the better than expected NFP p..[read more]
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How Did The Employment Report Affect Mortgage Rates?
Fri, 05 Mar 2010 22:10:06 GMT
Posted To: Mortgage Rate WatchWhen looking back on the week that was, it seems like mortgage rates went on a wild ride. Lenders repriced for the better and lenders repriced for the worse, sometimes they did both on the same day. Yet, ahead of the mos..[read more]
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MBS LUNCH: Recovering Price Losses After Rebound from Lows
Fri, 05 Mar 2010 19:22:00 GMT
Posted To: MBS Commentary"Rate sheet influential" MBS prices have recovered from intraday lows, but not before several prominent lenders repriced for the worse. Since then current coupon MBS prices have bounced back to the initial post-NFP ..[read more]
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