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MBS RECAP: Best Day of 2018 For Bonds, But at a Cost
Tue, 23 Jan 2018 21:27:49 GMT

Posted To: MBS CommentaryIt took 3 consecutive days of pushing into the weakest levels in more than 3 years for bond markets to figure out how to rally by more than a token amount. 10yr yields were 3.5bps lower by the time the 3pm close hit and Fanni..[read more]

Tax Bill Will Have Winners, Losers Fannie Says
Tue, 23 Jan 2018 20:49:21 GMT

Posted To: MND NewsWireFannie Mae's Economic and Strategic Research Group (ESR) focused on the new Tax Cuts and Jobs Act, passed late last year, in its January Economic Developments report. Like most other economists, Fannie Mae's are upgrading their..[read more]

Small Reprieve For Recent Rate Spike
Tue, 23 Jan 2018 20:17:00 GMT

Posted To: Mortgage Rate WatchMortgage rates finally managed to move lower in a small but meaningful way today--something they haven't done in more than 2 weeks! During that time, we've seen average mortgage rates improve on 2 occasions, but in both ..[read more]

Hurricane Stricken States Now Seriously Delinquent
Tue, 23 Jan 2018 15:13:34 GMT

Posted To: MND NewsWireBlack Knight notes a significant uptick in seriously delinquent mortgages in December. The number of loans that were 90 or more days overdue increased by 60,000 during the month to 726,000. This is 44,000 more delinquencies tha..[read more]

New Lender Products and Training; Top LO's/How Many Loans Per Month?
Tue, 23 Jan 2018 14:23:28 GMT

Posted To: Pipeline PressNow that the government has re-opened and furloughed bison are streaming back into various national parks, let’s turn back to… LO comp? “Rob, are you hearing that some companies are offering loan officers i..[read more]

MBS Day Ahead: Who is Haruhiko Kuroda? And Why He's Your Friend Today
Tue, 23 Jan 2018 13:49:50 GMT

Posted To: MBS CommentaryPerhaps you're already well aware that Haruhiko Kuroda is the head of the Bank of Japan (BOJ) , and a Ben Bernanke of sorts when it comes to bringing an aggressive, avant garde stance to Japan's monetary policy, espec..[read more]

MBS RECAP: Not The Kind of Green Day We Like
Mon, 22 Jan 2018 22:31:34 GMT

Posted To: MBS CommentaryBonds ended in the green today, albeit just barely . Normally that wouldn't be a bad thing, but today's example leaves a bit to be desired. I should start off by saying that today could have been much worse than it wa..[read more]

HUD Provides Availability Info for Shutdown
Mon, 22 Jan 2018 22:13:06 GMT

Posted To: MND NewsWireWith a stop-gap funding bill likely to be approved tonight, the following will not be germane for long, but it could serve as a template for the next potential shutdown. FHA's Office of Single Family Housing has provided a leng..[read more]

Mortgage Rates Set Another 9-Month High
Mon, 22 Jan 2018 21:34:00 GMT

Posted To: Mortgage Rate WatchMortgage rates pushed up to yet another 9-month high today--something that's become all too common in the past few weeks. Just as troubling is the fact that 10yr Treasury yields--the bigger, more important neighbor that ..[read more]

Will Higher Rates and Tax Changes Derail Housing Market?
Mon, 22 Jan 2018 17:15:02 GMT

Posted To: MND NewsWireLast year's Federal Reserve actions, raising the target interest rate three times, led to about a 0.75 percentage point increase in the 1-year Constant Maturity Treasury (CMT) note, while the 10-year CMT note barely moved. Fred..[read more]

Notes on Culture; Disaster Updates; Jumbo Trends and Reverse Mtg. Securitization
Mon, 22 Jan 2018 14:19:51 GMT

Posted To: Pipeline PressIf you want to read up on the latest Fannie lawsuit, here’s one dealing with a stripper hired into Fannie’s IT group but with unusual manager expectations . If you want to live in affordable beach town, stay away ..[read more]

MBS Day Ahead: The Unbelievable Impact of the Government Shutdown
Mon, 22 Jan 2018 14:05:40 GMT

Posted To: MBS CommentaryMarkets closed on Friday with a government shutdown still in limbo. Ostensibly, that meant the reaction in stocks and bonds wouldn't be fully seen until this morning. Indeed, there was a reaction, and for all the fuss mad..[read more]

MBS RECAP: Small Ray of Hope Amid Scary Sell-Off
Sat, 20 Jan 2018 00:27:48 GMT

Posted To: MBS CommentaryToday's sell-off brought 10yr yields to their highest levels since the middle of 2014 (when they were on their way down following the taper tantrum. With this, bonds have weakened substantially for each of the past 3 week..[read more]

Worst Week Since June for Mortgage Rates
Fri, 19 Jan 2018 23:24:00 GMT

Posted To: Mortgage Rate WatchMortgage rates remained at 9-month highs today, with most lenders in worse shape than yesterday. In the morning, the sky hadn't yet fallen, the average lender was right in line with yesterday's 9-month highs, but at leas..[read more]

Auction Fever Heats Up Home Sale Prices
Fri, 19 Jan 2018 17:44:41 GMT

Posted To: MND NewsWireThe bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or abo..[read more]

FHFA Director Watt Weighs in on Financial Reform Debate
Fri, 19 Jan 2018 16:30:09 GMT

Posted To: MND NewsWireBloomberg News is reporting on a proposal from Federal Housing Finance Agency (FHFA) Director Melvin Watt regarding the future of Fannie Mae and Freddie Mac (the GSEs). The two former companies, which have been in conservatorsh..[read more]

Urban Institute Weighs in on the Rent vs. Own Under New Tax Bill
Fri, 19 Jan 2018 14:33:33 GMT

Posted To: MND NewsWireWhile recently passed Tax Cuts and Jobs Act will benefit the take-home pay of most Americans, and allow them to save up to buy a home if they wish, other factors will offset that benefit . This will make renting look more attra..[read more]

MBS Day Ahead: Buyers Still Alive, But Still Waiting to Charge
Fri, 19 Jan 2018 14:13:38 GMT

Posted To: MBS CommentaryYesterday's recap is a good read if you didn't happen to catch it. Here's a link. In general, there are 2 things going on with rates right now. 1. confirmed uptrend beginning in mid-December and still intact 2. lu..[read more]

Report From NEXT; Lender and Investor Freddie/Fannie Changes: Part Three
Fri, 19 Jan 2018 14:00:58 GMT

Posted To: Pipeline PressAs if we don’t have enough measures of housing and real estate prices, here’s another one. The RE/MAX National Housing Report tells us what most already knew: The median home price rose 8.1% year-over-year, with 5..[read more]

MBS RECAP: Not The Kind of "Interesting" We Were Looking For
Thu, 18 Jan 2018 21:49:03 GMT

Posted To: MBS CommentaryWell... at least things are interesting . The winter holidays are always a challenge from an analytical and market-watching standpoint. It seems like a vast oversimplification (indeed, I didn't believe it was true when so..[read more]

Be Careful With News on Mortgage Rates Today
Thu, 18 Jan 2018 20:45:00 GMT

Posted To: Mortgage Rate WatchIt's Thursday, which means Freddie Mac released its weekly update on mortgage rates . This is typically not that big of a deal because mortgage rates don't tend to move enough in the short term to expose the shortfalls o..[read more]

A Request; Should Fannie and Freddie Update Their Credit Requirements?
Thu, 18 Jan 2018 17:27:06 GMT

Posted To: MND NewsWireThere is a rather unusual request up on the Federal Housing Finance Agency's (FHFA's) website. Two FHFA analysts, saying that the issue of updating the credit score requirements for Fannie Mae and Freddie Mac (the GSEs) is amon..[read more]

New Home Construction Retreats Quickly in December
Thu, 18 Jan 2018 14:57:45 GMT

Posted To: MND NewsWireBoth housing starts and permits were expected to retreat a bit in December , following their strong performances in October and November. Permits did tick down, but housing starts, which were exceptionally strong in November, g..[read more]

MBS Day Ahead: Is it Over?
Thu, 18 Jan 2018 14:37:16 GMT

Posted To: MBS CommentaryIs the decades-long bull market in bonds over? I imagine we'll be talking about this sort of thing every time yields spike to multi-month highs and even every time they spike aggressively after hitting multi-month lows. I..[read more]

Borrowers Get Ahead of Tax Changes, Refinance Activity Up in December
Thu, 18 Jan 2018 14:36:29 GMT

Posted To: MND NewsWireThe new tax law appeared to have slightly influenced mortgage originations in December, ahead of its actual implementation. Ellie Mae, in its December Origination Insight Report , said the share of refinances ticked up and clos..[read more]

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