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Fannie and Freddie Lowering Underwriting Barriers
Mon, 24 Oct 2016 18:46:58 GMT

Posted To: MND NewsWireFannie Mae and Freddie Mac each announced what appear to be essentially identical changes in their loan underwriting programs - Fannie calls its new offering "Day 1 Certainty" while Freddie was less poetic, referring simply to ..[read more]

MBA President Calls for Housing Reset, Lays Out Strategies
Mon, 24 Oct 2016 18:32:36 GMT

Posted To: MND NewsWireIn unusually personal prepared remarks, David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) told members gathered at the association's Annual Convention and Expo in Boston that he has "been battling an..[read more]

Mid-Sized Bank Earnings; Conforming News; Genworth Financial Finds An Overseas Buyer
Mon, 24 Oct 2016 13:40:25 GMT

Posted To: Pipeline PressAre you wearing an Apple watch to that important business meeting? Maybe you shouldn’t , unless you don’t mind people listening in . How much does it cost to defend yourself against a Department of Justice lawsuit..[read more]

MBS Day Ahead: ECB Rain Check Raises Questions For Short-Term Rate Trend
Mon, 24 Oct 2016 13:33:59 GMT

Posted To: MBS CommentaryRates and yields have been trending steadily higher since hitting all-time lows in early July. Those lows were most immediately attributable to the Brexit reaction, and thus the initial bounce back toward higher rates wasn..[read more]

MBS RECAP: Inconsequential Volatility Inside a Range
Fri, 21 Oct 2016 20:38:55 GMT

Posted To: MBS CommentaryBonds began the day roughly unchanged and rallied in the morning hours along with European bond markets. Most of the volume was in before 9:45 and the remainder of the day's trading took place inside the range set during ..[read more]

Mortgage Rates Unchanged at 2-Week Lows
Fri, 21 Oct 2016 19:23:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates held steady today, continuing a much-needed break from the move higher that dominated the first 2 weeks of October. While we've only seen modest improvements (or in today's case, a mere absence of deterior..[read more]

Housing and Economy Probably Heading Downhill - Freddie Mac
Fri, 21 Oct 2016 14:51:58 GMT

Posted To: MND NewsWireDeja vu all over again? Freddie Mac says economic growth is recovering from a weak first half of the year, the labor market is holding steady and Fed watchers are concluding that a rate hike will come in December; worldwide eco..[read more]

Starter Home Drought Leaves First Time Buyers Thirsty
Fri, 21 Oct 2016 14:40:26 GMT

Posted To: MND NewsWireHousing industry players have decried the absence of first-time homebuyers and the negative impact they have had on the housing recovery. Fannie Mae's Economic and Strategic Research team, in the most recent edition of Housing ..[read more]

Fannie to Address Reps/Warrants; Ginnie and Streamline Refis; Credit Union Attorney Fees
Fri, 21 Oct 2016 14:11:01 GMT

Posted To: Pipeline PressAs thousands of folks prepare to head to Boston for the MBA’s conference, they may be asking, “What’s in my wallet?” Maybe a little less. The average cost of an out-of-network ATM fee in the U.S. is $4..[read more]

MBS Day Ahead: Bond Bulls Hope For November Truce
Fri, 21 Oct 2016 14:04:47 GMT

Posted To: MBS CommentaryAs can be seen in this morning's chart (and remembered in the hearts and minds of loan originators who closely follow market movements), October has been our least favorite months of the year. September wasn't much be..[read more]

MBS RECAP: ECB Takes a Pass. Bonds Do Nothing
Thu, 20 Oct 2016 20:44:45 GMT

Posted To: MBS CommentaryToday was pretty anticlimactic . Most of my analysis is already available in the Day Ahead . If you're not the link-clicking type, it basically says that the ECB seems set to announce "something" in December. Perhaps that..[read more]

Mortgage Rates Lowest in Nearly 2 Weeks
Thu, 20 Oct 2016 19:59:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were lower again today, after the European Central Bank (ECB) avoided sending any scary signals about tapering its asset purchases. Much like the Fed conducted quantitative easing (QE) in the US by buying ..[read more]

More Refis and They're Taking Longer to Close -EllieMae
Thu, 20 Oct 2016 17:00:09 GMT

Posted To: MND NewsWireRefinancing continued to hold its ground during September, rising from 43 percent of all loan originations in August to 45 percent. Ellie Mae's Origination Insight Report for the month noted that the refinancing share rose one ..[read more]

Your House is Likely to Outlast You
Thu, 20 Oct 2016 16:55:57 GMT

Posted To: MND NewsWireThere is an old saying that they don't build things like they used to, but it seems that houses at least are still built to last . The National Association of Home Builders (NAHB) says that almost 99 percent of homes that were ..[read more]

Sales Surge Thanks to First-Time Buyers at 4-Year High
Thu, 20 Oct 2016 14:55:09 GMT

Posted To: MND NewsWireThere is a lot of upbeat news in the September existing home sales report released by the National Association of Realtors® (NAR) on Thursday. Sales rebounded sharply and the improvement was seen in all four regions . More ..[read more]

Another DOJ/FHA Settlement; Risk Sharing Heating Up; Vendor Announcement Mania
Thu, 20 Oct 2016 14:13:49 GMT

Posted To: Pipeline PressFlying to Boston for the MBA’s conference? Here’s a view you won't see. But probably a more important question is, "Is your cyber secure?" The FFIEC just published some frequently asked questions about cybersecuri..[read more]

MBS Day Ahead: Draghi Obsessed With Emulating Childhood Hero
Thu, 20 Oct 2016 13:59:50 GMT

Posted To: MBS CommentaryThe Fed is the ECB President Mario Draghi's childhood hero (with 'childhood' being a metaphorical term for the infancy of the ECB's response to the 2008 financial crisis). Time and again , we've seen vario..[read more]

MBS RECAP: One Last Day To Blame ECB For Consolidation
Wed, 19 Oct 2016 20:56:53 GMT

Posted To: MBS CommentaryBond markets spent yet another day consolidating inside their recent range. In terms of 10yr yields that means rates have fallen from last Friday's highs, but have also been careful to avoid breaking below the important t..[read more]

Mortgage Rates Flat Ahead of Potential Volatility
Wed, 19 Oct 2016 19:01:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were steady to slightly lower today, which keeps them fairly close to 4-month highs. 3.625% continues to be the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios, but some of the ..[read more]

REO Sales Hit 9-Year Low; All-Cash Follows
Wed, 19 Oct 2016 18:46:02 GMT

Posted To: MND NewsWireThis month CoreLogic has combined their cash sales and distressed sales data into a single report rather than the two they have issued each month since early in the housing crisis. The data released on Wednesday covers July. Di..[read more]

Housing Losing Momentum -Fannie Mae
Wed, 19 Oct 2016 18:38:44 GMT

Posted To: MND NewsWireFannie Mae says it expect economic growth will improve on its anemic performance in the first half of 2016 in the second half of the year, rising to 2.4 percent from 1.1 percent. This estimate in the company's October Economic ..[read more]

Bank M&A; USDA Rural and Disaster Updates; Freddie's Single Security Proposal
Wed, 19 Oct 2016 14:35:56 GMT

Posted To: Pipeline PressThe management teams at residential lenders across the nation have begun forecasting for 2017. Of course no one wants to tell their boss that they expect a 20% decline in volume, as some are estimating volume to be next year ..[read more]

Housing Data Mixed; Starts Lag Year-Ago Numbers
Wed, 19 Oct 2016 14:16:14 GMT

Posted To: MND NewsWirePermits for construction of residential housing improved in September after several dismal months, but housing starts retreated from both August and year-ago numbers. The U.S. Census Bureau and the Department of Housing and Urb..[read more]

MBS Day Ahead: No Reason to Expect The Plan to Change
Wed, 19 Oct 2016 13:45:03 GMT

Posted To: MBS CommentaryAfter worldwide rates hit all-time lows on the heels of Brexit, they consolidated in a narrow, sideways pattern until someone came up with the next plan. That plan began to take shape in early September after some market part..[read more]

Mortgage Apps Steady Despite Rising Rates
Wed, 19 Oct 2016 12:48:07 GMT

Posted To: MND NewsWireThe week ended October 14 was a quiet one for mortgage applications. The week started with one of those holidays, Columbus Day, that are only partially observed and interest rates continued to rise, several; returning to pre-Br..[read more]

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