September 7, 2010
- After a week that saw a few comments from Federal Reserve Chair Bernanke move mortgage pricing by 1/2 point in a single day, many mortgage originators and borrowers hoped for a quieter week. This was something of a tall order on a week in which so much employment data was scheduled to be reported. Instead, we experienced one of the most volatile weeks in recent history.
September 4, 2010
- Despite the industry news, bad press and other negative talking points, there are many in the mortgage industry giving back. Mortgage Revolution is about leaders teaching leaders. Mortgage originators who are in the field ever day helping clients training other originators what is working in today’s market. Some of the past speakers have been Ric [...]
August 31, 2010
- Let’s say you do business with 5 or 6 lenders. You (or your compliance department) get email updates. Maybe you get them one at a time. Maybe you get 10 changes at one time. An easy way to keep track of all lenders, all at one time is by subscribing to www.LendingArt.com. It’s free and [...]
August 30, 2010
- Meanwhile, though, the bigger factor that worries economists is the employment situation. In the long term, the only way that the economy can sustain growth, is by adding jobs. Every week, we get a peek at one aspect of this situation, the weekly unemployment claims report. Last week, the report showed claims had dipped from the prior week's 504,000 claims to 473,000. While the decrease was welcomed, the level of unemployment claims is still too high to indicate the strong growth in employment...
August 24, 2010
- Several mortgage companies have offered to loosen up on late payments and credit bureau reporting for veterans affected by the Gulf Oil spill. The Veterans Administration this week urged everyone else to climb aboard. VA Secretary Eric K. Shinseki issued a statement Monday asking all mortgage companies to provide veterans with some breathing room when [...]
August 23, 2010
- In a week in which it appeared that half of Wall Street had run off to the Hamptons, economic data showing the economy might or might not be as well off as it was 2-3 months ago caused some wild swings in mortgage pricing. Mortgage pricing is close to its all-time peak right now, meaning that investors who bought mortgage-backed securities when the average 30-year fixed rate was 4.75% have substantial unrealized gains now that the average 30-year fixed rate is 4.42%. Because of this, many of...
August 16, 2010
- Greetings from Brasil as I am currently in Rio de Janeiro, certainly not a bad deal except for the fact it is somewhat difficult to conduct business from down here, especially with the internet being quite slow at times. Today’s radio show will be broadcast from here, so let’s hope the internet holds up while [...]
- On Tuesday, the FOMC announced it would use funds received from prepayments on its MBS holdings to purchase Treasury securities on the open market, effectively allowing it to return those funds into the financial system.
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August 9, 2010
- Good Monday morning to all and I trust you had a wonderful weekend. What a week we had last week and even with all of the data flowing, mortgage backed securities moved exactly as was predicted here, ending the week at new record highs, sending mortgage rates to new record lows. Remember [...]
August 4, 2010
- VA loans remain one of the safest and most powerful lending options on the market for military borrowers. But they’ve definitely lost a bit of their flexibility in the wake of the subprime mortgage collapse. These government-backed loans continue to post low foreclosure rates — the lowest of any of the major loan types, in fact. [...]