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MBS RECAP: Bond Markets Hold Narrow Range Overall; Some Month-End Volatility Around Treasury Close
Fri, 29 Aug 2014 20:07:53 GMT

Posted To: MBS CommentaryOvernight trading was uneventful for bond markets and made for a just slightly weaker open for both Treasuries and MBS. Economic data was completely and utterly ignored. It wasn't until headlines out of the UK concerning ..[read more]

Mortgage Rates Unchanged Near 2014 Lows Ahead of 3-Day Weekend
Fri, 29 Aug 2014 18:49:00 GMT

Posted To: Mortgage Rate WatchMortgage rates barely budged today. A few lenders were a bit higher than yesterday. A few more were a bit lower, but most hadn't moved enough to be considered anything more than unchanged. Most borrowers would see the ex..[read more]

New Credit Score Model Would be Great for Housing! Too Bad it Won't be Used
Fri, 29 Aug 2014 16:48:54 GMT

Posted To: MND NewsWireFICO, the company that develops proprietary scoring models for credit bureaus and lenders, announced August 7 that a new model (FICO Score 9) would be released this fall. FICO's press release caught buyers', Realtors', and lend..[read more]

Housing Market Entering Dicey Transition Phase
Fri, 29 Aug 2014 16:42:05 GMT

Posted To: MND NewsWireRealtyTrac estimated that home sales in July were at an annualized rate of 4.63 million units , a decrease of 3 percent from June and down 12 percent from July 2013. This would be the third consecutive month in which RealtyTrac..[read more]

MBS MID-DAY: In Stunning Turn of Events, Economic Data Still Doesn't Matter
Fri, 29 Aug 2014 16:23:05 GMT

Posted To: MBS CommentaryRight there in the title of the first commentary of the day: "more economic data that probably won't matter." There's always some small tinge of doubt in my mind before I preemptively dismiss the importance of things ..[read more]

New Digs for Fannie; CFPB Fines; HELOCs on the Rise; Cash vs. Security Sales
Fri, 29 Aug 2014 14:11:13 GMT

Posted To: Pipeline PressCleverness is alive and well in lending, and the "free Russian cat with your loan funding" story yesterday brought a few e-mails. Chris L. contributes, "Thanks for sharing the idea about giving a cat at closing. That could be..[read more]

MBS Day Ahead: More Economic Data That Probably Won't Matter and a 3-Day Weekend
Fri, 29 Aug 2014 11:42:52 GMT

Posted To: MBS CommentaryNOTE: Bond markets and mortgage lenders (and banks, among other things) will be closed on Monday for Labor Day. This morning's headline suggests that economic data "probably" won't matter, but if yesterday's activ..[read more]

MBS RECAP: Same Old Story: Minor Volatility and Modest Euro-Driven Gains
Thu, 28 Aug 2014 20:45:09 GMT

Posted To: MBS CommentaryIn yesterday's recap, we discussed the phenomenon whereby most of the market movement has been happening overnight during these Euro-centric times, with the US trading hours seeing comparatively less volatility. Same old ..[read more]

Mortgage Rates Fall For Sixth Straight Day
Thu, 28 Aug 2014 19:45:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell modestly for an impressive sixth straight day today. Yet again, we're seeing little attention paid to the events in the US that NORMALLY influence interest rates. Case in point, stronger economic data..[read more]

MBS MID-DAY: Bond Markets Holding Stronger Territory Despite Stronger Data
Thu, 28 Aug 2014 15:42:35 GMT

Posted To: MBS CommentaryEven the confirmation of a 4%+ GDP and the strongest read on Pending Home Sales in 11 months were not enough to wrest control of bond market momentum from Europe. Particularly, market participants widely expect the European C..[read more]

Subservicer and New Jumbo Products; Flagstar and the CFPB; Theory of M&A
Thu, 28 Aug 2014 15:14:55 GMT

Posted To: MND NewsWireWhat's this? The borrower receives a cat when their mortgage closes? What would the CFPB say? Will fleas lead to a class action lawsuit a year down the road? Would the DOJ claim canine disparate treatment? Besides, for many peo..[read more]

Pending Home Sales Highest in Nearly a Year
Thu, 28 Aug 2014 15:09:07 GMT

Posted To: MND NewsWireFavorable housing conditions were credited for leading pending home sales higher in July to their best level since August 2013 . Pending sales as measured by purchase contract signings rebounded from a slight dip in June that i..[read more]

MBS Day Ahead: Busiest Day of Economic Data, but Dark Horses in Europe
Thu, 28 Aug 2014 11:28:05 GMT

Posted To: MBS CommentaryToday is the busiest day of the week for domestic economic data and Treasury Auctions. The 8:30 time slot brings Jobless Claims and the 2nd revision of 2nd quarter GDP. At 10am, there's Pending Home Sales and the week'..[read more]

MBS RECAP: Yet Again, Treasuries Inspired by Europe and MBS Underperform
Wed, 27 Aug 2014 20:57:17 GMT

Posted To: MBS CommentaryBoth MBS and Treasuries started the day in good shape as a bout of universally downbeat data washed over the Eurozone. Speculation for some measure of central bank action at next week's meeting (European Central Bank, to ..[read more]

Mortgage Rates Closing in on 2014 Lows
Wed, 27 Aug 2014 20:35:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell by an almost imperceptible amount today. Some lenders were actually unchanged or slightly higher. The actual NOTE rates quoted today would be identical to yesterday, with the only differences being se..[read more]

Housing Market Normalizing... Very Slowly
Wed, 27 Aug 2014 17:16:41 GMT

Posted To: MND NewsWireFreddie Mac said today that the housing recovery continues to be a primarily local phenomenon . While markets with strong economies and favorable demographics are continuing to improve at a strong pace most markets are still ge..[read more]

Home Price Increases Lower than Inflation in Some Areas
Wed, 27 Aug 2014 17:11:29 GMT

Posted To: MND NewsWireHome prices have now increased on a quarterly basis 12 consecutive times. The Federal Housing Finance Agency (FHFA) said yesterday that the 12 th increase in its purchase-only seasonally adjusted House Price Index (HPI) was a 0..[read more]

Black Knight Provide Sneak Peak at July Mortgage Data
Wed, 27 Aug 2014 16:40:01 GMT

Posted To: MND NewsWireDistressed housing measures continued on a somewhat jagged path toward normalcy in July according to preliminary numbers released by Black Knight Financial Services today. The company's "Early Look" at some of the data from its..[read more]

Strong 2nd Quarter for Mortgage Banks; Cash vs. Security Sales Primer; New Program for Service Members
Wed, 27 Aug 2014 16:12:30 GMT

Posted To: Pipeline PressThe month-end funding push is in full swing. There are plenty of jumbo loans on the Atlantic and Pacific Coasts (providing fodder for the smattering of jumbo securities), but the push for affordable housing has moved inland t..[read more]

MBS MID-DAY: Bonds Bounce Back After Brief Morning Sell-Off
Wed, 27 Aug 2014 15:46:00 GMT

Posted To: MBS CommentaryBond markets began the day much-improved after a strong overnight session. Economic data was pervasively weaker in Europe and expectations for Eurozone Quantitative Easing are running high. This helped German Bund yields drop..[read more]

Mortgage Applications Rise despite Directionless Rates
Wed, 27 Aug 2014 13:52:47 GMT

Posted To: MND NewsWireApplications for both home purchase and refinancing increased during the week ended August 22. The Mortgage Bankers Association said that its Market Composite Index, a measure of application volume, increased 2.8 percent from t..[read more]

MBS Day Ahead: A Data-Free Day to Consider Thursday's GDP Release
Wed, 27 Aug 2014 11:27:57 GMT

Posted To: MBS CommentaryWhen Q1 GDP first came out weaker than expected and was subsequently revised all the way to -2.9%, it put a damper on many assessments of US economic health. While it may or may not be a mistake to have a downbeat view of the..[read more]

MBS RECAP: The Flatness Continues; MBS Perfectly Unchanged After Only Modest Volatility
Tue, 26 Aug 2014 20:31:50 GMT

Posted To: MBS CommentaryThe last week of Summer continues to be the last week of Summer as far as markets are concerned. Email auto-responders are working overtime, parents are back-to-school shopping, and market-watchers have yet another opportunit..[read more]

How Long Will Low, Flat Mortgage Rates Last?
Tue, 26 Aug 2014 19:16:00 GMT

Posted To: Mortgage Rate WatchSo many questions have been raised by the surprising state of affairs in the world of mortgage rates this year. Why did rates move in the opposite direction from broad-based expectations to start the year? Why have rates..[read more]

MBS MID-DAY: Back to Unchanged After Stronger Consumer Confidence Data
Tue, 26 Aug 2014 16:29:54 GMT

Posted To: MBS CommentaryBond markets started the day little-changed from the previous session and having seen little volatility overnight. Although it wasn't destined to be too consequential, the Durable Goods data was at least interesting--sett..[read more]

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