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Real Estate News |
Indirect Bidders Carry Load in 10 Year Auction. Bonds Bounce from Price Lows
Wed, 12 Jan 2011 18:13:00 GMT
Posted To: MBS CommentaryTreasury just
reopened $21 billion 11/15/2020 10 year notes . The bid to cover ratio, a
measure of buyer demand, was 3.30 bids submitted for every 1 accepted
by Treasury. This is well above average and the most aggressive bid..[read more]
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Loan Officer Compensation: Overtime Pay or No Overtime Pay?
Wed, 12 Jan 2011 17:59:05 GMT
Posted To: MND NewsWireThe Mortgage
Bankers Association has filed suit in federal court in an effort to
reverse a March 2010 ruling by the Department of Labor (DOL) requiring
that loan officers be paid overtime . That DOL Wage and Hour Division
Admin..[read more]
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Sideways Morning In Bond Market. Technical Inflections Outlined
Wed, 12 Jan 2011 17:26:00 GMT
Posted To: MBS CommentaryA moderately
weaker benchmark bond market has led the new front month delivery FNCL
4.5 MBS coupon lower this morning. The net effect is 4.5's are hovering
around 102-00, down from 102-17 yesterday. This does however include ..[read more]
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FICO Shares Insight on Credit Scoring Model. Launches New Consumer Site
Wed, 12 Jan 2011 16:22:00 GMT
Posted To: MND NewsWireOver the past year
we've given much attention to the lack of common sense that continues
to pervade the mortgage industry. As part of the discussion we recently
raised the question of whether or not the home loan underwriting p..[read more]
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Barclays
Sees Sharp Slowdown in Prepayment Speeds & No Ease in UW
Guidelines; Loan Fraud in South Florida; Reverse Mortgage Volume Down
Wed, 12 Jan 2011 16:17:18 GMT
Posted To: Pipeline PressSome recent
mortgage fraud figures have been released and the winner is.... South
Florida! "South Florida's mortgage market had the nation's highest
number of suspicious activity reports in the third quarter of 2010,
accordin..[read more]
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MBS MID-DAY: 1/12/2011
Wed, 12 Jan 2011 16:16:23 GMT
Posted To: MBS CommentaryMBSonMND : MBS
MID-DAY Open MBSonMND Dashboard FNMA 3.5 94-23 : -0-15 FNMA 4.0 98-24 :
-0-11 FNMA 4.5 101-31 : -0-10 FNMA 5.0 104-20 : -0-05 GNMA 3.5 95-14 :
-0-15 GNMA 4.0 99-31 : -0-12 GNMA 4.5 103-04 : -0-09 GNMA 5.0 105-2..[read more]
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Refinance Applications Tick Up Slightly But Remain Near 9 Month Lows
Wed, 12 Jan 2011 14:37:09 GMT
Posted To: MND NewsWireThe Mortgage
Bankers Association (MBA) today released its Weekly Mortgage
Applications Survey for the week ending January 7, 2011. The MBA's loan
application survey covers over 50% of all U.S. residential mortgage loan
applicat..[read more]
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The Day Ahead: Import Prices, Geithner on China, Treasury Auction, Beige Book, Fed Speak
Wed, 12 Jan 2011 13:27:36 GMT
Posted To: MBS CommentaryBenchmark
interest rates backed up overnight as equity futures approached their
highest levels since September 2008. This move is built on improved
investor optimism regarding Europe’s fiscal crisis after a pledge from
..[read more]
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Mortgage Rates: Closing Costs Creep Higher After Treasury Auction
Tue, 11 Jan 2011 21:33:17 GMT
Posted To: Mortgage Rate WatchIt was an
interesting day for mortgage rates. Benchmark Treasury yields rose and
MBS prices fell which forced lenders to reprice for the worse. However,
as paradoxical as it seems, best execution mortgage rates are actua..[read more]
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MBS RECAP: 1/11/2011
Tue, 11 Jan 2011 21:16:11 GMT
Posted To: MBS CommentaryMBSonMND : MBS
RECAP Open MBSonMND Dashboard FNMA 3.5 95-14 : -0-16 FNMA 4.0 99-13 :
-0-15 FNMA 4.5 102-17 : -0-12 FNMA 5.0 105-03 : -0-06 GNMA 3.5 96-06 :
-0-16 GNMA 4.0 100-22 : -0-13 GNMA 4.5 103-23 : -0-11 GNMA 5.0 106-09..[read more]
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Class A MBS Roll Already Baked into Loan Pricing
Tue, 11 Jan 2011 20:23:00 GMT
Posted To: MBS CommentaryToday is Class A
Notification Day in the secondary mortgage market. Class A MBS coupons
consist of Fannie Mae and Freddie Mac 30 year loan notes. January Fannie
and Freddie 30 year fixed MBS coupon have begun the settlement p..[read more]
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Wild Wild West Housing Market: Are Ghost Towns Making a Comeback?
Tue, 11 Jan 2011 19:43:38 GMT
Posted To: MND NewsWireAre some cities in
the U.S. in danger of becoming ghost towns like those in the early
west? The recession and its toll on housing prompted the Mortgage
Brokers Association (MBA) and its Research Institute for Housing
American (..[read more]
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Short Covering Follows Average 3-Year Note Auction. Reprice Risk Fading
Tue, 11 Jan 2011 18:08:00 GMT
Posted To: MBS CommentaryTreasury just
finished their first fundraiser of the week. $32 billion 3s have been
auctioned. The results were not encouraging but they also did little to
dampen the mood in the market. Nonetheless, we still have to take dow..[read more]
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Reprices Reported as Short Sellers Initiate Pre-Auction Concession
Tue, 11 Jan 2011 16:41:00 GMT
Posted To: MBS CommentaryIn typical
pre-auction fashion, bond traders are selling short benchmark TSYs in an
effort to cheapen up their debt underwriting costs. While production
MBS coupons are outperforming on the spot vs. TSYs, said concessionary
e..[read more]
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Amherst Explains Massachusetts Foreclosure Reversals; More on Citi's Originator Compensation Guidance; Lots of Lender Updates
Tue, 11 Jan 2011 16:26:54 GMT
Posted To: Pipeline PressLast week's
Massachusetts' court decision, involving Wells Fargo and US Bank, is
garnering lots of discussion in the press. As a quick refresher, the
Massachusetts Supreme Court ruled against USB and Wells, upholding the
opin..[read more]
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MBS MID-DAY: 1/11/2011
Tue, 11 Jan 2011 16:15:21 GMT
Posted To: MBS CommentaryMBSonMND : MBS
MID-DAY Open MBSonMND Dashboard FNMA 3.5 95-24 : -0-07 FNMA 4.0 99-21 :
-0-07 FNMA 4.5 102-25 : -0-03 FNMA 5.0 105-05 : -0-03 GNMA 3.5 96-16 :
-0-06 GNMA 4.0 100-30 : -0-06 GNMA 4.5 103-29 : -0-04 GNMA 5.0 106-..[read more]
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The Day Ahead: Euro Debt Crisis Creating Waves, Wholesale Trade, Class A MBS Roll
Tue, 11 Jan 2011 12:50:12 GMT
Posted To: MBS CommentaryEquity futures
are on the rise and interest rates are backing up a bit after news hit
wires that Japan is planning to buy European debt in an effort to boost
investor confidence in the region. “Japanese Finance Minister..[read more]
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Mortgage Rates: High Risk Event Behind Us. Borrowing Costs Improve
Mon, 10 Jan 2011 23:25:40 GMT
Posted To: Mortgage Rate WatchMortgage
rates were generally slightly improved today versus Friday today. The
employment data that has been so prevalent in our discussions of late
has come and gone. For those who either did not or could not lock in
th..[read more]
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Uninspiring Day in Bond Market. Rally Awaits Further Guidance
Mon, 10 Jan 2011 21:56:00 GMT
Posted To: MBS CommentaryMorning price
action was supportive of an extension of Friday's data-driven interest
rate rally. The move was uneventful and uninspiring though... The econ
calendar was vacant. And while a Fed speaker was on the tape, he didn..[read more]
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MBS RECAP: 1/10/2011
Mon, 10 Jan 2011 21:18:01 GMT
Posted To: MBS CommentaryMBSonMND : MBS
RECAP Open MBSonMND Dashboard FNMA 3.5 95-32 : 0-10 FNMA 4.0 99-27 :
0-09 FNMA 4.5 102-28 : 0-07 FNMA 5.0 105-08 : 0-05 GNMA 3.5 96-21 : 0-10
GNMA 4.0 101-03 : 0-09 GNMA 4.5 104-01 : 0-07 GNMA 5.0 106-15 : 0-05..[read more]
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Bond Bulls Find Little Motivation to Drive Yields Lower Before TSY Auctions
Mon, 10 Jan 2011 18:54:00 GMT
Posted To: MBS CommentaryIt's turning
into a sideways, low volume afternoon. With Japan out today, zero data,
and TSY auctions to come still this week, there is little motivation to
forcibly trade yields lower. A lack of bid-side demand in bonds is e..[read more]
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Does the Mortgage Industry Rely Too Heavily on Credit Scoring Models?
Mon, 10 Jan 2011 17:24:00 GMT
Posted To: MND NewsWireFew factors affect
the mortgage lending process as much as a borrower's credit score.
Mortgage bankers and their Wall Street counterparts have long relied on
the FICO score to judge the ‘credit worthiness’ of the bo..[read more]
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MBS MID-DAY: 1/10/2011
Mon, 10 Jan 2011 16:22:41 GMT
Posted To: MBS CommentaryMBSonMND : MBS
MID-DAY Open MBSonMND Dashboard FNMA 3.5 95-26 : 0-04 FNMA 4.0 99-22 :
0-04 FNMA 4.5 102-26 : 0-05 FNMA 5.0 105-07 : 0-04 GNMA 3.5 96-17 : 0-06
GNMA 4.0 100-31 : 0-05 GNMA 4.5 103-31 : 0-05 GNMA 5.0 106-14 : 0-..[read more]
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Risk Retention Regs Delayed; Citi Shares Perspective on Originator Compensation; Massachusetts Foreclosures Reversed
Mon, 10 Jan 2011 14:01:00 GMT
Posted To: Pipeline PressIt seems like it
was just New Year's, and now we're staring at another holiday. Don't
forget that Monday, January 17 is a federal holiday , so "this date
cannot be included in counting the seven business day waiting period
fr..[read more]
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The Week Ahead: Treasury Auctions, Inflation Data, Fed Speak, Beige Book
Mon, 10 Jan 2011 13:10:00 GMT
Posted To: MBS CommentaryBenchmark
interest rates spent the week that was bouncing around a wide yet
well-defined range in advance of the highly anticipated release of
December's Employment Situation Report. While it seemed like ADP stole
the show on..[read more]
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