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A Saturday Morning of FHA Streamline, Investor, Training, Agency, Conference, and M&A News
Sat, 16 Jun 2012 17:30:48 GMT

Posted To: Pipeline PressThe lender/investor/M&A/vendor/training/conference updates keep coming. As always, it is best to read the actual bulletin, but these recent notes should give folks a flavor of the trends. Frankly, I just don’t know how underw.. [read more]

MBS RECAP: Markets Do Nothing With Data. Bring On The Greekend
Fri, 15 Jun 2012 21:18:00 GMT

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary The most recent alert at 1:32pm effectively serves as the recap. So this is more of a recap of the recap for those with short attention spans. Treasuries started strong and moved lower.. [read more]

Mortgage Rates Fall Back To All-Time Lows Before Volatile Weekend
Fri, 15 Jun 2012 17:51:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were noticeably lower today at some lenders and only slightly lower at others. The net effect is an average Best-Execution rate that comes to rest once again precisely on June 1st’s all-time lows. Best-Exe.. [read more]

FHFA Releases GSE Home Retention Metrics
Fri, 15 Jun 2012 17:11:39 GMT

Posted To: MND NewsWireThe two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae completed nearly twice as many foreclosure prevention actions in the first quarter outside of the Home Affordable Modification Program as they did throu.. [read more]

MBS MID-DAY: Treasuries Improve While Mortgages Grind
Fri, 15 Jun 2012 15:37:09 GMT

Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary A similar theme is playing out this morning where we find 10yr TSYs digging into the 1.5’s and MBS having hit a ceiling, seemingly unwilling to trudge much higher for the standard list of.. [read more]

Student Loans Pass Credit Card Debt; CFPB Observations; Origination Rankings – Look Who’s #3!
Fri, 15 Jun 2012 14:01:20 GMT

Posted To: Pipeline PressOn June 15, 1752, Benjamin Franklin performed his famous kite experiment, proving that lightning is a form of electricity. Something that seems to be electrifying originators out there is this week’s comments from Rajeev Date.. [read more]

The Day Ahead: Domestic Data Scarcely Registers VS Greekend
Fri, 15 Jun 2012 12:33:02 GMT

Posted To: MBS CommentaryA few weeks back, we very reluctantly capitulated to conformity and used the term “Grexit” one time (potential Greece Euro-zone exit). It felt wrong… mostly because we didn’t think of it first. But that all changes now! We.. [read more]

MBS RECAP: Relentlessly Determined To Grind Sideways Into Weekend
Thu, 14 Jun 2012 20:18:14 GMT

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Not too much to say about what’s going on here… In the longer term, trading ranges have been consolidating. Both MBS and Treasuries are near the mid-point of these longer-term converg.. [read more]

Mortgage Rates Scrape Together Minor Improvements; Close To Historic Lows
Thu, 14 Jun 2012 19:37:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates improved slightly today after rising somewhat yesterday. All in all, the movement was muted, and most of it served to narrow the gaps in rate offerings between lenders as opposed to suggest a cohesive move.. [read more]

Managing Pull-Through in a Volatile Rate Environment
Thu, 14 Jun 2012 18:50:00 GMT

Posted To: Secondary MarketsBenchmark TSYs and rate sheet influential TBAs are continuing their consolidative ways today. I describe this behavior as the market ” storing energy ” — energy that can be detrimental to pipeline hedges when released. I.. [read more]

Harvard’s State of Housing Report Says Home Construction Now Adding to GDP
Thu, 14 Jun 2012 15:41:42 GMT

Posted To: MND NewsWireSteadier job growth and improving consumer confidence are now boosting home sales and home prices may finally find a bottom this year according to the latest State of the Nation’s Housing report released this morning. The repor.. [read more]

Robosigning is Focus of New York Fraud Legislation
Thu, 14 Jun 2012 15:28:53 GMT

Posted To: MND NewsWireThe New York State Assembly will soon consider a bill that, if passed, would broaden the definition of mortgage foreclosure fraud to include “robosigning” and enact tough new criminal penalties including jail time for violators.. [read more]

MBS MID-DAY: Uneventful Morning, Waiting on 30yr Auction
Thu, 14 Jun 2012 15:15:37 GMT

Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary The morning’s data was mostly ignored, save for the short-lived initial bond market rally. Everything else has merely been a sort of technical, yet highly active “cruise control.” 10yr yi.. [read more]

Shadow Inventory Drops to 4-month Supply
Thu, 14 Jun 2012 14:08:13 GMT

Posted To: MND NewsWireLenders appear to be getting a grip on the nation’s foreclosure inventory according to a report released Thursday by CoreLogic. The foreclosure or “shadow” inventory represents the number of properties that are seriously delinq.. [read more]

FHA Streamline Changes in the Blink of an Eye; News from Indiana and California; Mortgage Jobs in Production and Secondary
Thu, 14 Jun 2012 13:58:32 GMT

Posted To: Pipeline PressRegardless of size, regardless of defense, regardless of current QC measures, buybacks are an issue at every level. PNC , #17 lender by volume in the first quarter, saw its stock take a hit due to them . (And at Stratmorgroup.. [read more]

Annual Foreclosure Rate Declines for 20th Straight Month; Nevada Gives Up Top Spot
Thu, 14 Jun 2012 13:50:03 GMT

Posted To: MND NewsWireForeclosure filings topped 200,000 during May for the first time in two months but filings were still below the rate a year earlier according to the U.S. Foreclosure Market Report released by RealtyTrac this morning. A total of.. [read more]

MBS RECAP: MBS RECAP: Big Volume Rally For Treasuries, MBS Lag
Wed, 13 Jun 2012 20:13:10 GMT

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Today was really Treasuries’ time to shine. Even in the overnight session, 10’s were doing much better than German Bunds out of the gate. Traders and analysts cited protocol changes in .. [read more]

Mortgage Rates Struggle To Hold Their Ground Ahead Of Important Events
Wed, 13 Jun 2012 19:40:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged to slightly higher today , but several lenders released improved rate sheets in the afternoon bringing them closer in line with yesterday’s offerings. Rates continue to operate in a fairly n.. [read more]

FHFA Sends Annual Report to Congress on GSEs, FHLBanks
Wed, 13 Jun 2012 19:29:31 GMT

Posted To: MND NewsWireAs required under the Housing and Economic Recovery Act (HERA), the director of The Federal Housing Finance Agency (FHFA) submitted the agency’s annual Report to Congress on the two government sponsored enterprises (GSEs) for w.. [read more]

NAHB Says Improving Markets Fragile, Shift through Small Changes
Wed, 13 Jun 2012 16:35:17 GMT

Posted To: MND NewsWireThe National Association of Home Builders (NAHB) list of improving housing markets continued to show sizeable shifts as small changes in the metrics over the last month knocked some metropolitan areas off of the list while othe.. [read more]

Wells’ Market Share Target and Streamline Change; CFPB’s View of Mortgage Brokers; The MBA and 203(k)’s
Wed, 13 Jun 2012 16:32:24 GMT

Posted To: Pipeline PressIndustry experts believe that one of the several reasons Countrywide fell was because of their quest for market share for its own sake, rather than have quality and service drive the market share. Conversely, Wells’ market sh.. [read more]

MBS MID-DAY: Range-Bound And Off The Lows Ahead Of 10yr Auction
Wed, 13 Jun 2012 15:55:23 GMT

Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Bond markets walked in the door in moderately weaker territory today, but firmed up following weaker economic data and a technical support bounce in 10yr yields. The technical support is.. [read more]

Applications for Refis, Purchases Surge to Highest Point in 3 Years
Wed, 13 Jun 2012 14:18:10 GMT

Posted To: MND NewsWireThere was absolutely no bad news out of the Mortgage Bankers Association’s Weekly Mortgage Applications Survey this morning. Results of the survey for the week ended June 8 showed that mortgage applications volume soared in eve.. [read more]

The Day Ahead: Economic Data And Treasury Auction Cycle Ramp Up Quickly
Wed, 13 Jun 2012 12:26:02 GMT

Posted To: MBS CommentaryAfter the first two days of the week offered very little by way of data and events–a mostly uneventful 3yr Note Auction and a similarly unimportant Import/Export Prices report–the pace quickens considerably on Wednesday and.. [read more]

MBS RECAP: Holding As Much Ground As Possible Against Bond Market Losses
Tue, 12 Jun 2012 20:41:14 GMT

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Today had a very “weird” feel to it, for lack of a better term. A lot of the price action, in Treasuries especially, seemed overly random, with a higher-than-normal degree of price/volu.. [read more]

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