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MBS RECAP: Treasuries, MBS Back on Same Page After 2 Weeks On Different Paths
Fri, 25 Sep 2020 19:50:23 GMT

Posted To: MBS CommentaryTreasuries, MBS Back on Same Page After 2 Weeks On Different Paths MBS prices were generally losing ground, albeit at a modest pace, over the past two weeks. That's no big deal in and of itself, but Treasuries were doing ..[read more]

Stellar Housing Data; Rates Inching Lower
Fri, 25 Sep 2020 19:50:00 GMT

Posted To: Mortgage Rate WatchMortgage Rate Update Considering this week's generally positive drift in rates, we shouldn't expect lenders to get less busy any time soon. In recent weeks, there's been a sense that mortgage pricing seems just a little ..[read more]

Forbearances Ending at a Faster Pace
Fri, 25 Sep 2020 14:55:12 GMT

Posted To: MND NewsWireBlack Knight said its weekly forbearance survey found the number of mortgages in active forbearance decreasing at an accelerated rate. Those mortgages fell by 2.6 percent or 95,000 loans over the last week, bring the decline ov..[read more]

MBS Day Ahead: Treasuries, MBS Back on Same Page After 2 Weeks On Different Paths
Fri, 25 Sep 2020 14:09:35 GMT

Posted To: MBS CommentaryBear with me while I'm forced to crank up the power on my analytical microscope in order to find anything interesting to say about one of the least volatile bond market trends we've ever seen. None of what we're a..[read more]

70% of Freddie's Portfolio Suggests Refis Aren't Dead
Fri, 25 Sep 2020 13:44:53 GMT

Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trill..[read more]

FHFA's Official Report on Q2 Mortgage Relief Numbers
Fri, 25 Sep 2020 13:37:46 GMT

Posted To: MND NewsWireIn its 2 nd quarter Foreclosure Prevention and Refinance Report the Federal Housing Finance Agency (FHFA) says it has helped almost 4.7 million distressed homeowners since it became conservator of the GSEs Fannie Mae and Freddi..[read more]

Sales and Ops Jobs; Marketing and Credit Products; Cybercrime Update; Watching the Stimulus Quagmire
Fri, 25 Sep 2020 13:13:29 GMT

Posted To: Pipeline PressTGIF! Do Fridays mean as much as they did up until mid-March? Yes! Well, maybe. How about some non-mortgage stuff? There is, after all, life outside of RESPA. It’s crazy at the nursery via webcam at the Warrior Canine P..[read more]

MBS RECAP: MBS Outperform; Bonds Stay Defiantly Sideways Overall
Thu, 24 Sep 2020 19:14:16 GMT

Posted To: MBS CommentaryMBS Outperform; Bonds Stay Defiantly Sideways Overall The stock market tried a few different moves on the bond market today and while correlation is still visible at times, Treasuries generally refused to be dragged very far ..[read more]

New Home Sales Crush Forecasts, Soaring to 14-Year Highs
Thu, 24 Sep 2020 15:54:08 GMT

Posted To: MND NewsWireOnce again new home sales exceeded expectations, this time by a lot. Sales of newly built homes rose 4.8 percent in August, to a seasonally adjusted annual rate of 1.011 million. That puts sales an astounding 43.2 percent highe..[read more]

MBS Day Ahead: Where Would We Be Without Stocks?
Thu, 24 Sep 2020 13:52:35 GMT

Posted To: MBS CommentaryIt's no secret that the bond market has been sideways for a month and a half by even the strictest definitions, and broadly sideways since first settling down from the initial covid-related volatility in March. In terms o..[read more]

Serious Delinquencies Grow, but Fewer Overall Missed Payments in August
Thu, 24 Sep 2020 13:13:11 GMT

Posted To: MND NewsWireAs the COVID-19 crisis dragged into its sixth month in August the total number of mortgage delinquencies continued to ebb, but the rate of decline appears to be slowing. Black Knight, in its first look at the month's loan perfo..[read more]

Ops, LO, AE Jobs; Broker, Construction, MSR Management Products; Using Digital for Customer Service
Thu, 24 Sep 2020 12:59:53 GMT

Posted To: Pipeline PressI need to make a dart board for the wall behind me for Zoom calls that has “rates up” and “rates down” and “rates the same” on it. Until we see actual year-over-year inflation above 2 perce..[read more]

Mortgage Rates in Drift Mode
Wed, 23 Sep 2020 20:16:00 GMT

Posted To: Mortgage Rate WatchMortgage rates didn't do much today. The average lender was effectively unchanged from yesterday. The same could be said yesterday, and the day before that, and so on and so on... The only major adjustment to rates in re..[read more]

MBS RECAP: Stocks Try to Help, But Bonds Stay Relentlessly Flat
Wed, 23 Sep 2020 20:05:23 GMT

Posted To: MBS CommentaryStocks Try to Help, But Bonds Stay Relentlessly Flat Econ data, Treasury auctions and Fed speakers all failed to move the needle. Bonds only showed signs of life in response to new corporate debt issuance and a big sell-off i..[read more]

Ending Fannie/Freddie Conservatorship Still a Top Priority for FHFA
Wed, 23 Sep 2020 19:56:34 GMT

Posted To: MND NewsWireMark Calabria, Director of the Federal Housing Finance Agency (FHFA) is stepping up his agency's actions to spring Fannie Mae and Freddie Mac (the GSEs) from their decades long federal receivership. Most recently he called on t..[read more]

FHFA Says 2-Month House Price Gain was Largest Ever
Wed, 23 Sep 2020 19:53:40 GMT

Posted To: MND NewsWireHome prices rose another 1.0 percent in July, bringing the year-over-year gain to 6.5 percent according to the House Price Index (HPI) produced by the Federal Housing Finance Agency (FHFA). The agency also revised its previousl..[read more]

Mortgage Application Gains Resumed Post-Labor Day, Forbearances at Recent Lows
Wed, 23 Sep 2020 13:35:24 GMT

Posted To: MND NewsWireMortgage application activity rebounded last week from the previous week's Labor Day holiday lull. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of mortgage loan application volume, increased 6.8 ..[read more]

MBS Day Ahead: Limited Data, Sideways Range, Fed Speakers, Treasury Auction
Wed, 23 Sep 2020 13:25:01 GMT

Posted To: MBS CommentaryYou know times are tough in the world of bond market analysis when I resort to using an uninspired bullet point list of events for a headline. The only way it could get any worse would be something like " One Weird Trick To D..[read more]

Sales Jobs; Marketing, AMC, Subservicer Products; Company Webinars; GSE Changes
Wed, 23 Sep 2020 12:54:57 GMT

Posted To: Pipeline PressI know that plenty of folks at United Wholesale read this commentary, and the company is in the news about a merger that will take UWM public valuing it at $16 billion. Perhaps Bruce Springsteen reads this commentary, perhaps..[read more]

Refresher on The New Refi Fee and Its Effect on Mortgage Rates
Tue, 22 Sep 2020 20:55:00 GMT

Posted To: Mortgage Rate WatchFannie Mae and Freddie Mac are the two government sponsored agencies that guarantee timely payment of principal and interest to the investors who front the money that finances the American mortgage market. This guarantee..[read more]

MBS RECAP: Floating, Locking, and Reasons For Sideways Rates (Including Politics)
Tue, 22 Sep 2020 20:37:54 GMT

Posted To: MBS CommentaryStocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September. As such, we'll be watching the bond market..[read more]

Home Sales Surge to Best Levels in 14 Years
Tue, 22 Sep 2020 15:26:50 GMT

Posted To: MND NewsWireExisting home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, tow..[read more]

Homeowner Equity Surged in Q2
Tue, 22 Sep 2020 14:24:40 GMT

Posted To: MND NewsWireThere was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity..[read more]

MBS Day Ahead: A Brief History of Bonds' Break-Up With Econ Data
Tue, 22 Sep 2020 14:04:40 GMT

Posted To: MBS CommentaryRemember simpler times when following interest rate movements meant waiting for economic data to come out and counting on logical, repeatable, predictable impacts? For instance, today's Existing Home Sales report has alwa..[read more]

Ops, LO Jobs; ROI, Workflow, Underwriting Tools; Training; Improving Forbearance Stats
Tue, 22 Sep 2020 13:11:22 GMT

Posted To: Pipeline PressToday (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the celestial equator, heading southward. Others kn..[read more]

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