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April 24, 2015

  • Posted To: MND NewsWire

    The Department of Housing and Urban Development (HUD) is tweaking its bulk loan sales program to give distressed borrowers a better shot at staying in their homes. HUD announced today that investors who purchase delinquent mortgages through the Department's Distressed Asset Stabilization Program (DASP) will have to delay foreclosures for one year after purchase rather than the six month hiatus that had previously...
  • Posted To: Mortgage Rate Watch

    Mortgage rates barely budged again today, which means they've been able to hold under an important ceiling as we head into next week's Fed Announcement. Given the improvement in underlying market conditions, lenders are playing it safe with rate sheets. This could allow them more flexibility in the event markets improve further at the start of next week. 3.75% remains the most prevalently-quoted...
  • 11:27am

    Posted To: MND NewsWire

    Lenders appear at least moderately encouraged by new efforts on the part of Fannie Mae and FHA to lower the costs and increase the availability of mortgage financing. Fannie Mae's most recent quarterly Mortgage Lender Sentiment Survey, conducted in February found about 2/3s of lenders thought the initiatives would be beneficial. Fannie Mae introduced a new 97 percent home mortgage late last year and a similar...
  • 11:24am

    Posted To: MBS Commentary

    The most notable feature of today's trading session has been the weaker than expected components of the Durable Goods data. In other words, the headline was better than expected, but the internals were weaker. Specifically, the internal component that factors out defense spending and aircraft was -.5 percent weaker versus forecasts for a 0.3 percent improvement. Additionally, the previous...
  • Posted To: MND NewsWire

    Apparently all is forgiven and forgotten and Americans are again embracing real estate as more than just shelter. For the second year in a row a Gallup telephone survey conducted in April found Americans think it is the best kind of long-term investment. Investing in real estate outstripped stocks, gold, traditional savings instruments and bonds with 31 percent of survey respondents preferring it. Stocks and...
  • Posted To: Pipeline Press

    Filling key positions in our industry is not an easy task sometimes, but as one banking vet I know likes to say, "give me someone with a little bit of smarts, and a little bit of drive, and I'll hand them back a career." Of course, she doesn't live in New York, and maybe hasn't read Business Insider's Companies Can't Find Employees Who Can Hold a Conversation or Show up on Time....
  • Posted To: MBS Commentary

    After the March 18th FOMC Announcement, bond markets rallied. 10yr yields went from 2.05 to 1.90 on that Wednesday. The following day, they sold off to an intraday high of 1.99. Since then, 1.99 has been the most frequently-visited ceiling now that yesterday and Wednesday have both been added to the ranks. The technical ground-holding after Wednesday's rout helps build a sense of a narrow...

April 23, 2015

  • Posted To: MBS Commentary

    With 10yr yields at 1.952, we're certainly not out of the woods yet, but we can at least hold out some hope of exiting the woods. That wasn't such a given after yesterday's push up to 1.99%. As details emerged regarding today's corporate bond issuance, we began to see a clearer picture of yesterday's weakness. (Read more about that in the MID-DAY if you like). The thesis of...
  • Posted To: Mortgage Rate Watch

    Mortgage rates didn't move much today. While a few lenders were modestly improved, most were unchanged or offering slightly higher rates. This stands in stark contrast to most of today's mortgage rate headlines that suggest rates moved lower. Chalk that up to the widespread dissemination of the highly regarded Primary Mortgage Market Survey from Freddie Mac. Indeed, Freddie's data is...
  • Posted To: MND NewsWire

    A second company has now reported a recent increase in the number of underwater residential properties in the U.S. Last month Corelogic said that approximately 172,000 homes slipped from positive to negative equity in the fourth quarter of 2014, a change the company called "seasonal." Today RealtyTrac reported an increase in the first quarter of 2015 of 0.4 percent in the number of properties with negative equity...

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