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MBS RECAP: Drastically Outperforming Treasuries
Mon, 11 Jul 2016 21:41:44 GMT

Posted To: MBS Commentary If I didn’t know any better, I’d say it looked like MBS were simply “tired of moving” in relative proportion to Treasuries as the latter undergo some volatility around their all-time lows. If I did know any better, I&..[read more]

Mortgage Rates Slightly Higher
Mon, 11 Jul 2016 21:10:00 GMT

Posted To: Mortgage Rate Watch Mortgage rates moved higher today, but not by very much, considering the amount of movement seen in other corners of financial markets. For instance, 10yr Treasury yields–one of the better indicators of mortgage rate mo..[read more]

MBA says Credit Tightened Again in June
Mon, 11 Jul 2016 21:08:02 GMT

Posted To: MND News Wire Mortgage credit availability appeared to decrease again in June. It was the fourth consecutive month the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) has declined. All four of the index’s com..[read more]

Ginnie Mae Prepay Speeds Outpacing Others
Mon, 11 Jul 2016 21:06:04 GMT

Posted To: MND News Wire In its “first look” at May mortgage data published last month Black Knight Financial Services noted that the prepayment rate for mortgages, historically a good indicator of refinance activity, rose by 3.31 percent from April to..[read more]

Thoughts on Wholesale Channel; New Products Including a $6 mln Reverse Mortgage
Mon, 11 Jul 2016 13:35:17 GMT

Posted To: Pipeline Press I certainly see “out of office” replies increase during the summer. But some people seem to take as little vacation as possible, sometimes making those who take time off feel guilty. A study by the Travel Associat..[read more]

MBS Week Ahead: Slow Start But Data and Fed Speakers Steadily Increase
Mon, 11 Jul 2016 13:04:44 GMT

Posted To: MBS Commentary To whatever extent economic data matters, the week ahead will gradually crescendo by Friday, which boasts the two most important reports: CPI and Retail Sales. Monday, by comparison has no top tier reports. For traders who ca..[read more]

MBS RECAP: Paradoxical Bond Rally Following Strong Jobs
Fri, 08 Jul 2016 21:36:22 GMT

Posted To: MBS Commentary I wouldn’t go so far as to say “the impossible happened today,” but at the very least, we could call it “the improbable.” A lot was at stake heading into today’s NFP, or so it seemed. Just 2 days ago, the Fed reinforc..[read more]

Mortgage Rates Surprisingly Steady Despite Jobs Data
Fri, 08 Jul 2016 20:44:00 GMT

Posted To: Mortgage Rate Watch Mortgage rates held surprisingly steady despite a strong employment headline. The big jobs report came out today, and it showed payroll creation at 265k versus forecasts calling for only 170k jobs. This is a substantial ..[read more]

Correspondent news; New American’s Wholesale Exit; Blackstone Selling; State-Specific Updates
Fri, 08 Jul 2016 15:51:12 GMT

Posted To: Pipeline Press The nation’s thoughts and prayers go out to the families of the five Dallas police officers who were killed and six others wounded after snipers fired into a demonstration Thursday night. It is amazing to learn that mor..[read more]

MBS Day Ahead: Yes, NFP Could Indeed “Matter,” But Let’s Hope it Doesn’t
Fri, 08 Jul 2016 12:20:59 GMT

Posted To: MBS Commentary Perhaps as long ago as April 2014, when the first major talk of the European Central Bank’s impending QE plan began circulating, domestic economic data has been steadily falling out of favor . It wasn’t that data ever..[read more]

MBS RECAP: Slightly Weaker Holding Pattern Ahead of NFP
Thu, 07 Jul 2016 20:51:36 GMT

Posted To: MBS Commentary Bonds slightly weaker overnight; no major drama AM employment data (ADP and Jobless Claims) prompted more selling Stock prices and bond yields bounced lower together at 10:30am Bonds didn’t make it back to positive territ..[read more]

Fannie/Freddie Joint Venture Creeps Forward
Thu, 07 Jul 2016 20:35:39 GMT

Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA) has released an update on the progress made toward the Single Security that is expected to replace those currently issued by Fannie Mae and Freddie Mac (the GSEs). The update covers: Th..[read more]

Consumer Sentiment Retreats on Income, Home Price Concerns
Thu, 07 Jul 2016 18:46:04 GMT

Posted To: MND News Wire Fannie Mae’s Home Purchase Sentiment Index (HPSI), an outgrowth of its National Housing Survey, pulled back a bit in June, largely due to weakened optimism about household income and the direction of home prices which offset so..[read more]

Mortgage Rates Finally Pull Back. Should You Worry?
Thu, 07 Jul 2016 18:02:00 GMT

Posted To: Mortgage Rate Watch Mortgage rates finally ended an impressive winning streak today, rising for the first time in 9 days. Rates began that streak with a massive move lower following the UK’s vote to exit the European Union and maintained mo..[read more]

Millennials: Rent Levels and Demographics vs. Credit Scores and Tight Inventory
Thu, 07 Jul 2016 14:20:14 GMT

Posted To: Pipeline Press Doug T. writes, “There’s a strange new trend in the office: people are putting names on food in the company fridge to keep them cold. Today I had a sandwich named Kevin.” There are some real estate markets that ar..[read more]

MBS Day Ahead: Bonds Primed For Bad Bounce, Severity Determined Tomorrow
Thu, 07 Jul 2016 13:00:53 GMT

Posted To: MBS Commentary After an epic run to all-time Treasury lows (and nearly all-time mortgage rate lows) bond markets are flashing warning signs about a bounce. This sort of warning relies almost exclusively on the “technical” side of the analyt..[read more]

MBS RECAP: Bonds Sparkle Overnight, But Fade Early
Wed, 06 Jul 2016 21:25:57 GMT

Posted To: MBS Commentary Treasury yields hit new intraday all-time lows overnight Traders were lined up to sell at the open (profit-taking) Weakness continued after stronger ISM data But bonds held near yesterday’s closing levels 10yr yields rose..[read more]

Mortgage Rates Now Very Close to All-Time Lows
Wed, 06 Jul 2016 20:23:00 GMT

Posted To: Mortgage Rate Watch Mortgage rates fell again today, extending an already-uncanny winning streak to its 8th straight day. The most recent improvements bring the average lender right in line with all-time lows. In fact, a few lenders are now..[read more]

Shocker: Older Generations Are Better Qualified For Mortgages
Wed, 06 Jul 2016 18:18:23 GMT

Posted To: MND News Wire If you were to review a pile of mortgage applications randomly pulled from all of those submitted what age group do you think would look the best, the most creditworthy on paper? Trick question? Not at all. CoreLogic Economist ..[read more]

Loan Performance Improves as Servicing Portfolios Shrink
Wed, 06 Jul 2016 17:53:16 GMT

Posted To: MND News Wire The performance of loans serviced by the seven national banks reporting to the Office of Comptroller of the Currency (OCC) improved during the first quarter of 2015. OCC’s Mortgage Metrics Report collects data on the volume of ..[read more]

LO Survey Results; Training/Events; Compliance/Legal Updates
Wed, 06 Jul 2016 15:06:46 GMT

Posted To: Pipeline Press Huh? Uber has a new update that allows users to file a lawsuit against the company directly in the app? What will they think of next? In a more serious vein, convictions, lawsuit, & settlement news continues – see below. And ..[read more]

MBS Day Ahead: Coming to Terms With Underlying Reasons For All This Craziness
Wed, 06 Jul 2016 12:42:50 GMT

Posted To: MBS Commentary Bond markets enter domestic session at new all-time low yields Yet again, there are no stand-out, individual motivations All about he big picture global growth concerns How low can ya go? Another day, another record low yield..[read more]

Refinancing Resurgence Reflects Brexit Rate Drop
Wed, 06 Jul 2016 11:56:40 GMT

Posted To: MND News Wire he rate drop that kicked in immediately after the June 23 Brexit vote in the United Kingdom was reflected, dramatically so, in the volume of mortgage applications the following week. The Mortgage Bankers Association’s (MBA’s) ..[read more]

MBS RECAP: All-Time Treasury Lows For No Specific Reason
Tue, 05 Jul 2016 20:00:06 GMT

Posted To: MBS Commentary10yr yields traded well into the 1.3’s, surpassing previous low of 1.381 No specific motivation at home or abroad, though there are several supporting actors It’s the big-picture “global growth concerns” that get us i..[read more]

Mortgage Rates Back to 3.25% in Some Cases
Tue, 05 Jul 2016 19:05:00 GMT

Posted To: Mortgage Rate WatchMortgage rates dropped noticeably today, bringing quite a few lenders down to 3.25% in terms of conventional 30yr fixed quotes on top tier scenarios. For all intents and purposes, these rates are “all-time lows,” even th..[read more]