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May 7, 2015

  • Posted To: MND NewsWire

    Both government sponsored enterprises (GSEs) reported profitable first quarter financial results for the first quarter. Both will pay a dividend for the quarter to the U.S. Treasury and neither anticipates additional Treasury draws. On Thursday Fannie Mae reported net income of $1.9 billion and comprehensive income of $1.8 billion for the first quarter of 2015 compared to net income of $1.3 billion and...
  • 12:35pm

    Posted To: MBS Commentary

    Move over Pontiac. Bond market volatility is driving excitement. While that may be one of the worst s entences I've ever written, it has the redeeming quality of being true. Things are really getting interesting for the long and short term fate of bond market momentum. For the past two mornings, I've been suggesting that a corrective bounce was approaching, regardless of the economic data...
  • Posted To: Pipeline Press

    For aging LOs and real estate agents, a report by Genworth Financial finds the median bill for 1 year in a nursing home is now $91,250 vs. $87,600 one year prior, but that costs vary widely by state. The highest was AK at $281,415, but was only $60,225 in OK. Meanwhile, the median cost of an assisted-living facility was $43,200 and 1 year of visits from home health aides was $45,...
  • Posted To: MBS Commentary

    Yesterday's morning commentary contained a chart and discussion on Treasury yields breaking above the upper bollinger band for 5 consecutive days. Yesterday went on to extent that streak to 6 days. At this point, things are getting extremely interesting due to how uncommon this sort of streak is. In the last 20 years (and it could be longer, but I stopped looking once I got to the 1994...

May 6, 2015

  • Posted To: MBS Commentary

    Bonds sold off again. Don't look so surprised. Yes, ADP data was weaker than expected, but it didn't matter due to pervasively weaker momentum driven by the ongoing European bond market rout and a perpetually gluttonous buffet of corporate bond issuance. If all that made sense to you, you probably don't need to read any more. For those with furrowed brows, we'll dive a bit deeper...
  • Posted To: MND NewsWire

    Six federal regulators recently issued a final rule setting requirements for state registration and supervision of appraisal management companies (AMCs) . AMCs are entities that contract with and manage licensed and certified appraisers to provide appraisal services to lenders, underwriters, or other principals in the secondary mortgage markets. AMCs may be independent entities or subsidiaries of federal...
  • Posted To: Mortgage Rate Watch

    Mortgage rates are having a rough couple of weeks. Yesterday saw rates approach the previous 2015 highs set on March 6th. Today's rates moved slightly higher still, setting a new 2015 high. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, though 3.875% is still available in some cases. This is a substantial increase from the 3.625% rates seen just a...
  • 12:40pm

    Posted To: MND NewsWire

    About one in 10 American adults have no credit history according to a report from the Consumer Financial Protection Bureau, a total of 26 million persons who are "credit invisible." These are persons who have no information on file with any of the nationwide consumer reporting agencies. Credit histories contain data on a consumers bank loans, car loans, credit card bills, student loans, and mortgages; details...
  • 12:38pm

    Posted To: MBS Commentary

    You'll notice an ongoing theme over the past few weeks as we talk about the selling pressure in bond markets, and that is that this sell-off should be taken seriously until/unless it's definitively defeated. We've already pointed out that the correction in German Bunds is bigger than any other example in nearly 2 years. And in terms of the amount of ground covered in a 2 week period,...
  • 11:47am

    Posted To: Pipeline Press

    I received this note from a veteran LO in a western state. "I was talking with a top-producing Realtor on broker tour this week. Unlike too many of his colleagues, he actually knew about TRID and we were talking about 8/1. 'Just another good reason to accept the cash offer,' is what he told me. How's that for consumer protection? Even the sellers have the potential to get hosed by...

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