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  • MBS RECAP: Traders Move to Sidelines Ahead of Fed Announcement September 17, 2021
    Posted To: MBS CommentaryTraders Move to Sidelines Ahead of Fed Announcement September's big Fed announcement doesn't hit until next Wednesday, but it's not too early for markets to freak out about it a little bit. The fear is expressed in the form of a move to the sidelines for both stocks and bonds. In other […]
  • Rates at 2-Month Highs Ahead of Fed Week September 17, 2021
    Posted To: Mortgage Rate WatchMortgage rates ended the week at the highest levels in roughly 2 months as investors moved to the sidelines ahead of next week's Fed announcement. In other words, investors sold bonds (among other things) and in the bond market, selling pressure means lower prices and higher rates, all other things being […]
  • New Forbearance Plans and Reentries Rise September 17, 2021
    Posted To: MND NewsWireBlack Knight says that the number of active forbearance plans continued to fall over the last week, but also noted an uptick in both new plans and reentries to the program , primarily among VA and FHA loans. The number of active forbearances dropped by 22,000 or 1.4 percent during the week […]
  • Flipping Transactions Increase, Profits Do Not September 17, 2021
    Posted To: MND NewsWireThe number of homes flipped by investors grew by 3.5 percent in the second quarter of the year. It was the first increase in more than a year. ATTOM says its second quarter U.S. Home Flipping Report shows that 79,733 single-family homes and condominiums in the United States were flipped during that […]
  • Fed Ethics Rules Get High-Powered Review September 17, 2021
    Posted To: MND NewsWireAnother powerful group of federal officials are in the hotseat after details of their personal finances were revealed. While there are no accusations of wrong-doing (unlike the case of several senators who faced ethics reviews in 2020), the financial disclosures of several Fed presidents have prompted a bank-wide smell test. As Thomas […]
  • MLO, Dir. of Sales, Controller Jobs; HELOC, DPA, Blockchain, CRM, Sales Tools; FHA and VA News; PSPA Thoughts September 17, 2021
    Posted To: Pipeline PressSome things stick with you , some don’t. Many of the topics covered here in Atlanta’s NAMMBA Connect 2021 will stick with folks since they mirror what various companies have their eye on. Social media best practices, modern appraisal technology and new valuation models, leveraging technology, data intelligence, and other tools to […]
  • MBS Day Ahead: Bonds Testing Weakest Levels in 2 Months September 17, 2021
    Posted To: MBS CommentaryThe headline is a bit dramatic, but not untrue. 10yr yields were as high as 1.351 yesterday--just a moderate day of weakness away from the 2-month high of 1.385 seen at the start of last week. Before that, there were two other bounces in similar territory (1.379 and 1.375). That puts today's […]
  • Highest Rates in a Week After Surprisingly Strong Economic Reports September 16, 2021
    Posted To: Mortgage Rate WatchMortgage rates moved higher again today, bringing the average lender to the worst levels since last Thursday. There are a few exceptions to that due to recent regulatory changes. Specifically, many lenders made improvements to loans for 2nd homes and investment properties. That's the short version. If you need to background, […]
  • MBS RECAP: Uneventful Afternoon After Strong Data Sends Yields Higher September 16, 2021
    Posted To: MBS CommentaryUneventful Afternoon After Strong Data Sends Yields Higher Today's key development was the duo of much stronger economic reports at 8:30am (Philly Fed and Retail Sales). Indeed, this accounted for the only interesting moments of the day. 5 minutes later, both MBS and Treasuries weakened to levels that persisted through the 3pm […]
  • Refis and Purchasing Split Originations in July September 16, 2021
    Posted To: MND NewsWireRefinancing and home purchases had a nearly even share of mortgage originations in July. ICE Mortgage Technology said that 50 percent of closed loans during the month were purchase mortgages while 49 percent were for refinancing. Refinancing, however, continued to dominate the conventional market at 54 percent of those loans. The share […]
  • AE Jobs; Lock Desk, VOE, Sales, Reporting Tools; More Conf. Conv. Changes; Remote Events Today September 16, 2021
    Posted To: Pipeline PressI’m getting old. I can remember the lyrics from a Steppenwolf song that I haven’t heard in 20 years but I don’t remember what I had for lunch yesterday. I do know, however, that today is a trip to Atlanta for a presentation with attorney Mitch Kider, and I glanced at the […]
  • MBS Day Ahead: Starting on The Back Foot After Stronger Retail Sales September 16, 2021
    Posted To: MBS CommentaryBonds are starting the day on the back foot as Retail Sales rose 0.7% despite a median forecast of -0.8. The Philly Fed numbers also surged past 18.8 forecasts to the tune of 30.7--decisive victories for economic data on both fronts. Bonds are reacting logically with a move to the weakest levels […]
  • Mortgage Rates Start Stronger But Moved Higher During The Day September 15, 2021
    Posted To: Mortgage Rate WatchMortgage rates began the day with promise. Actually, it was the underlying bond market (which largely dictates mortgage rates) was sending promising signals by apparently building on the bigger improvements seen on Tuesday. This is exactly what mortgage lenders needed in order to feel comfortable setting rates at even lower levels. […]
  • MBS RECAP: Sideways Vibes Won't Give Up Just Yet September 15, 2021
    Posted To: MBS CommentarySideways Vibes Won't Give Up Just Yet Bonds made a move yesterday with yields breaking below the lower boundary of the prevailing consolidation range. This type of breakout is a positive sign, generally, but it requires confirmation from the following day of trading (i.e. today). Earlier today, it looked like confirmation was […]
  • Foreclosure Rate Lowest in Over Two Decades September 15, 2021
    Posted To: MND NewsWireToday there are 400,000 homeowners in their final month of forbearance and another 1.2 million still in the program as it winds down, thus, it is probably way too early to conclude that the nation has a ducked a pandemic foreclosure bullet, However, the CoreLogic report on June's loan performance suggests we […]
  • AE, MLO Jobs; Jumbo, Non-QM, Retention, LOS Products; FHFA's Welcomed Policy Pause on Restrictions September 15, 2021
    Posted To: Pipeline PressHow ‘bout some random Q&A for Hump Day? Did you know that almost 2,400 of your co-workers are already registered for the National MBA conference next month in San Diego? A company is working to bring back the wooly mammoth ? (What could possibly go wrong with messing with Mother Nature?) Do […]
  • FHFA Suspends Second Home, Investment Loan Limits September 15, 2021
    Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury announced late Tuesday that they were suspending some of the provisions that had been added to the Preferred Stock Purchase Agreements (PSPAs) on last January. The PSPA is the legal agreement between Treasury and Fannie Mae and Freddie Mac […]
  • Purchase Applications Spring Back to April Level September 15, 2021
    Posted To: MND NewsWireThe traditional end of summer was accompanied by a tiny boost in the volume of mortgage applications. The Mortgage Bankers Association said its seasonally adjusted Market Composite Index, a measure of mortgage loan application volume, increased 0.3 percent during the week ended September 10 on a seasonally adjusted basis from one week […]
  • MBS Day Ahead: Bonds Trying to Confirm Range Breakout September 15, 2021
    Posted To: MBS CommentaryYesterday's most notable accomplishment for the bond market was the breakout of the prevailing consolidation range (aka "pennant," to use a technical term). We might have hesitated to read anything into this had it not been for elevated volume and the fact that it was data-driven (Consumer Price Index). We still might […]
  • 2021's Big Bad Mortgage Fee Hikes Have Been Removed! (Sort Of...) September 14, 2021
    Posted To: MBS CommentaryEarlier this year, the FHFA and Treasury amended Treasury's preferred stock repurchase agreements (PSPAs) to put limits on Fannie Mae and Freddie Mac (collectively, the GSEs). These limits resulted in widespread fee increases for several categories of mortgages with investment properties and 2nd homes taking the heaviest damage. Here's a quick list […]

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