June 3, 2013
Posted To: MND NewsWire
The U.S. Census Bureau has just released the 2012 version of its report on Characteristics of New Housing . The report is composed of dozens of individual spreadsheets, available in both Excel and PDF format covers pretty much everything you ever wanted to know about new single and multifamily buildings and units completed and, in some instances, sold in 2012. The data goes back to 1973 so readers can make...Posted To: MBS Commentary
MBS Live : MBS Morning Market Summary Even though a case could be made for some technical exhaustion amid the recent, pervasive sell-off, the morning's data has certainly played a part today. Bond markets opened in weaker territory after European data facilitated higher stock prices and bond yields overnight. Even before ISM data at 10am, domestic markets were already digging in to hold ground...Posted To: Pipeline Press
Underwriters and loan originators are acutely aware of a trend reflected in a stat the Census Bureau recently released: the number of businesses without paid employees in the U.S. rose 1.7 percent to 22.5 million in 2011. The report covered U.S. businesses without paid employees, and covered businesses with no paid employees, annual business receipts of $1,000 or more ($1 or more...Posted To: MBS Commentary
It's not the shortest week of the year, but it might as well be. By far and away, the most significant event will occur on Friday with Non-Farm Payrolls at 8:30am (though Wednesday's ADP Payrolls can spook the NFP horse on occasion). As we've seen so recently and so frequently, a singular instance of NFP can speak louder than several week's worth of mostly contradictory data. Although it wasn't...
May 31, 2013
Posted To: Community Commentary
Every borrower wants their mortgage closing to be simple and stress free. While it may not always feel like it (between loan processors' requests for your 2011 Schedule E and page 6 of March's bank statement), lenders want the same thing. Here are some timely "do's and ( mostly hypothetical) don'ts" for borrowers to consider during the loan application process. While no single...Posted To: MBS Commentary
MBS Live : MBS Afternoon Market Summary If we consider the worst 5-week batches of time for production MBS, and even if we allow late 2010 to combine the worst 5 weeks spanning November and December, May 2013 is still 12 ticks worse, give or take. That's insane! Is it just me or do the past 5 weeks not feel as abusively awful as late 2010? If May seemed any more tolerable, maybe it had to do with...Posted To: MND NewsWire
The massive public database of consumer complaint information which the Consumer Financial Protection Bureau (CFPB) brought on-line in March has now been enhanced. The Bureau announced today that it has expanded its Consumer Complaint Database to include state-by-state information. The CFPB also added complaints about money transfers and credit reporting to the database. The searchable database allows consumer to...Posted To: Mortgage Rate Watch
Mortgage rates moved back up to the highest levels of the week , confirming a bumpy ride between now and next week's big jobs report. The day began in a docile enough fashion but was soon disrupted by stronger than expected economic data. Trading conditions deteriorated further in the afternoon prompting many lenders to recall rate sheets for a mid-session move higher. With those changed, the...Posted To: MND NewsWire
As the housing crisis unrolled the Department of Housing and Urban Development (HUD) and the two government sponsored enterprises (GSEs) Freddie Mae and Fannie Mae came into possession of more and more properties thorugh foreclosure. As of September 30, 2012, HUD held 37,445 foreclosed properties (REO) while the GSEs held 158,138 . In addition, the "shadow inventory"-residential loans at least 90 days delinquent-...Posted To: Pipeline Press
"The guy next door" as well as multi-billion dollar venture capital funds know that, right? Well, the housing industry is hoping that venture capital funds like Blackstone don't go into the house flipping business , but many folks are doing it . Organizations and analysts continue to ruminate on the CFPB's latest rulings on the QM (Qualified Mortgage) box. Put another way, the...