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Real Estate News |
ALERT: MBS 8 TICKS OFF LENDER MARKS. REPRICES REPORTED
Thu, 09 Sep 2010 19:24:00 GMT
Posted To: MBS CommentaryMBS prices are officially 8 ticks below lender loan pricing marks. REPRICES FOR THE WORSE HAVE BEEN REPORTED The earlier you received your rate sheet...the more likely you are to see a reprice for the worse in your inbox....(..[read more]
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MBA Expresses Concerns Over GSE Receivership Framework
Thu, 09 Sep 2010 18:40:01 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) has weighed in on the proposed framework for conservatorship and receivership operations for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks set forward by the Federal Housing Fin..[read more]
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Long Bond Struggles to Attract Buyside Demand. Dealers Saturated with Inventory
Thu, 09 Sep 2010 17:07:00 GMT
Posted To: MBS CommentaryTreasury just auctioned $13 billion 30 year bonds . Although the first two auctions of the week were non-events, this reopening did not go smoothly... Demand as measured by the bid to cover ratio was 2.73 bids submitted for e..[read more]
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Loan Pricing Comparison and Pre-Auction Market Update
Thu, 09 Sep 2010 16:38:00 GMT
Posted To: MBS CommentaryWe'll get the results of the $13 billion long bond auction in about 20 minutes. Ahead of issuance... Rate sheet influential MBS coupons are just off their session lows. The October FNCL 4.0 is -0-07 at 104-14. Benchmark Treas..[read more]
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Flagstar Cutting Warehouse Lines; Section 502 Loans Move Ahead; Increase in Corporate Debt Issuance; Prepayment Speeds Faster
Thu, 09 Sep 2010 16:18:59 GMT
Posted To: Pipeline Press"Commercial paper" is used by businesses to finance their own working capital, meet payroll and pay suppliers, etc. From the third quarter of 2007 to that of 2008, GDP grew by 3.4%. Did commercial paper keep up?Heck no! Outst..[read more]
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Production MBS Coupons Add to Price Losses After Jobless Claims Data
Thu, 09 Sep 2010 12:36:00 GMT
Posted To: MBS CommentaryInitial Jobless Claims and International Trade data has been released, the results were not bond market friendly. Here is a quick recap: 08:30 09Sep10 RTRS-US JOBLESS CLAIMS FELL TO 451,000 SEPT 4 WEEK (CONSENSUS 470,000) FRO..[read more]
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The Day Ahead: Jobless Claims, International Trade, Bond Auction
Thu, 09 Sep 2010 12:25:00 GMT
Posted To: MBS CommentaryGlobal markets were generally higher overnight and US equity futures are following on their coattails ahead of weekly employment data, monthly trade gap figures, and the start of the NFL football season. Ninety minutes before..[read more]
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Mortgage Rates Mostly Unchanged After Treasury Auction
Wed, 08 Sep 2010 22:21:40 GMT
Posted To: Mortgage Rate WatchWhen economic data is thin the stock market tends to have a larger impact on the direction of mortgage rates. The session began with stocks moving lower yesterday. With no data on the economic calendar to reverse the mar..[read more]
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USDA Rural Development System Upgrade Complete. Now Processing Conditional Commitments
Wed, 08 Sep 2010 20:23:00 GMT
Posted To: MND NewsWireIn March we learned that USDA Rural Housing funds were expected to run dry by the end of April . A month later, even though the legislation intended to provide the funding had not passed, USDA began issuing commitments for new ..[read more]
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Beige Book: Housing Market Experiencing "Sustained Lull"
Wed, 08 Sep 2010 19:24:00 GMT
Posted To: MND NewsWireThe Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ....[read more]
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Indirect Bidders Steal the Show at 10 Year Auction. Yields Lower as Shorts Cover
Wed, 08 Sep 2010 17:02:00 GMT
Posted To: MBS CommentaryTreasury just auctioned $21 billion 10 year notes . Auction demand was healthy thanks to one group of bidders specifically. The bond market has responded favorably in post auction trading. The high yield was 2.67%, which was ..[read more]
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Purchase Apps Up 6.3%. Refinance Demand Declines 3.1%
Wed, 08 Sep 2010 15:14:01 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 3, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applic..[read more]
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New GSE Housing Goals: Is FHFA Putting the Cart Before the Horse?
Wed, 08 Sep 2010 14:29:00 GMT
Posted To: Voice of HousingThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises), has established its final housing goals for the Enterprises in 2010-2011 . FHFA is required by the Housing and Economic..[read more]
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Potential Spot to Shelf Jumbo Loan Paper; FHA Q&A on Condo Recerts; Buyback Breakdown; Lots of Lender Updates
Wed, 08 Sep 2010 14:27:14 GMT
Posted To: Pipeline PressLenders offering FHA products know that Mortgagee Letter 2010-24 eliminated the unlimited CLTV ratio, and reinstated the requirement that the total of any FHA-insured first mortgage and any subordinate lien may not exceed the..[read more]
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The Day Ahead: Beige Book, Treasury Auction, Heavy Corporate Debt Supply
Wed, 08 Sep 2010 12:13:00 GMT
Posted To: MBS CommentaryRecap of Yesterday Lost rate sheet rebate was restored yesterday as the bond market benefited from a reversal of demand for risky assets (stocks sold) and an onslaught of swapable corporate debt supply. Loan pricing was aggre..[read more]
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Mortgage Rates End Losing Streak But Treasury Auctions Loom
Tue, 07 Sep 2010 20:11:00 GMT
Posted To: Mortgage Rate WatchThe week ahead is very light in terms of economic data, that implies we should expect the stock market to continue to provide mortgage rates with directional guidance. If stocks rally, look for mortgage rates to move hig..[read more]
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Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution
Tue, 07 Sep 2010 18:58:20 GMT
Posted To: MND NewsWireEric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies for Neighborhood Stabilization last Thursday that there may not be ..[read more]
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Rates Retrace Late Week Losses. Lost Rebate Restored
Tue, 07 Sep 2010 15:45:00 GMT
Posted To: MBS CommentaryGood Morning. I hope everyone had a safe and sound Labor Day weekend. I for one feel re-energized following a three day stay in State College, PA (PSU). The weather was perfect, we blew out Youngstown State, and I escaped the..[read more]
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Zero-Down Payment Programs; New FHA Mortgagee Letter; Does the Value of Servicing Warrant Retaining It?
Tue, 07 Sep 2010 15:19:16 GMT
Posted To: Pipeline PressMuch of life is a balancing act. For example, I eat my Captain Crunch with only low-fat milk because I wouldn't want unnecessary calories. Underwriting is also a balancing act, matching the risk of the borrower being able to ..[read more]
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The Week Ahead: Beige Book, Treasury Auctions, Trade Balance
Tue, 07 Sep 2010 12:41:59 GMT
Posted To: MBS CommentarySeptember began on a strong note last week as the Dow jumped almost 3%, or 297 points. Whether the strength continues this week could depend on the Federal Reserve’s assessment of the economy (Wednesday) and trade balan..[read more]
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How Did The Employment Report Affect Mortgage Rates?
Fri, 03 Sep 2010 20:38:00 GMT
Posted To: Mortgage Rate WatchIt is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. N..[read more]
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All Signs Point to Higher Rates in Week Ahead
Fri, 03 Sep 2010 16:48:00 GMT
Posted To: MBS CommentaryNFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mor..[read more]
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FHFA Establishes New Housing Goals for GSEs
Fri, 03 Sep 2010 14:44:03 GMT
Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recov..[read more]
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Banks Prefer Cash Buyers in REO Sales; Freddie Mac Streamline Refi Program; Originator Capacity Constraints; Comments on Property Flipping
Fri, 03 Sep 2010 14:26:24 GMT
Posted To: Pipeline PressIf there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last..[read more]
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Employment Situation Report: -54K Total Job Losses. Private Sector Adds 67k Positions. Bonds Sell
Fri, 03 Sep 2010 12:30:00 GMT
Posted To: MBS CommentaryTHE EMPLOYMENT SITUATION – AUGUST 2010 – BETTER THAN EXPECTED From the Release... Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U...[read more]
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