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Real Estate News |
MORTGAGE RATES: Best Lock/Float Advice I Can Offer
Fri, 30 Jul 2010 20:44:00 GMT
Posted To: Mortgage Rate WatchI think it's safe to say that, consistently for the last 30 to 45 days, at least one lender (regional, major, or independent) has offered below market "record low" mortgage rates. Investor demand is consist..[read more]
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USDA Rural Housing Bill Passes; Low-Income Rental Legislation Advances
Fri, 30 Jul 2010 16:23:00 GMT
Posted To: MND NewsWireOne government housing program that had run out of funds months ago was revived by Congress yesterday, and another bill targeted at low-income rental housing moved a step closer to approval. The Senate yesterday passed HR 4899 ..[read more]
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MBS Lower and Wider. Reprices Reported. Buyers Lurking
Fri, 30 Jul 2010 15:10:00 GMT
Posted To: MBS CommentaryRate sheet influential mortgage-backs are experiencing some localized weakness as stocks rally and swaps spreads widen. Nominally, yield spreads have been wider all morning but price levels were still pushing new records beca..[read more]
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Evolving Loan Officer Agreements: Mandatory Reserves and Good File Delivery
Fri, 30 Jul 2010 15:05:33 GMT
Posted To: The Garrett Watts ReportAfter visiting over 100 shops in the past 3 years, we haven't really seen anything “new under the sun” in terms of loan officer agreements. Sometimes I think all contractual documents used by mortgag..[read more]
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Rapid Refinance Program: Don't Bet On It
Fri, 30 Jul 2010 13:35:00 GMT
Posted To: Pipeline PressThe economy is so bad, I bought a toaster oven and my free gift with purchase was a bank...If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them...Angelina Jolie..[read more]
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The Day Ahead: Q2 GDP, Consumer Sentiment, Stocks Testing Support
Fri, 30 Jul 2010 12:29:00 GMT
Posted To: MBS CommentaryA busy day awaits the markets as investors get their first look at second-quarter GDP. Also in the store is the influential Chicago Business Barometer which gives an update on how the economy is recovering in the midwest, plu..[read more]
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Treasury Auctions Done. Bonds Cautiously Resilient as Stocks Repeat History
Thu, 29 Jul 2010 17:09:00 GMT
Posted To: MBS CommentaryTreasury just sold $29 billion 7s to a group of uninterested buyers... Auction demand as measured by the bid to cover ratio was below average. 2.78 bids were submitted for every 1 accepted by Treasury. Compare that to the ten..[read more]
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Fannie Mae Preps Investors for Reform. Book of Business Reflects Tight Credit Conditions
Thu, 29 Jul 2010 16:31:37 GMT
Posted To: MND NewsWireIn the wake of the passage of Wall Street Reform, which many opponents have criticized Capitol Hill for failing to deal with the future of Fannie Mae and Freddie Mac, the Obama Administration is beginning to present the broad o..[read more]
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Are HECM Regulators Acting Unethically Toward the Reverse Mortgage Program?
Thu, 29 Jul 2010 16:06:00 GMT
Posted To: Community CommentaryI recently spoke on two interesting panels at the American Conference Institute’s two day symposium on Reverse Mortgages. The conference was held at the famed Helmsley Park Lane Hotel in the heart of Manhattan. Th..[read more]
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Final Ruling Issued on SAFE Act; Underwriting Guideline Overlays, Adverse Market Fees and Steep LLPAs; CMBS Sales; California State of Emergency;
Thu, 29 Jul 2010 13:51:14 GMT
Posted To: Pipeline PressOn a non-mortgage note, my son asked me, "At what age is it ok to tell a highway that it is adopted? At some point the highway will realize that it doesn't look like the Kiwanis's Club." I would have told hi..[read more]
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Vacancy Rate Near Historic High. America Has a "Home Problem"
Thu, 29 Jul 2010 13:33:00 GMT
Posted To: MND NewsWireAs we have pointed out over the last few weeks , America has a homelessness problem; over a million individuals and families are temporarily or chronically homeless. While the statistics don't fully address this aspect, the..[read more]
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The Day Ahead: Moody's Questions U.S. Credit Rating. Bonds Shrug Off News
Thu, 29 Jul 2010 12:30:00 GMT
Posted To: MBS CommentaryEquity futures are trading higher this morning despite word from Moody’s that it would have to question America’s triple-A credit rating unless it provides a credible plan to tackle its growing deficit. Steve Hess..[read more]
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Can Mortgage Rates Go Any Lower?
Wed, 28 Jul 2010 20:16:00 GMT
Posted To: Mortgage Rate WatchWell, here we are on "hump day" and mortgage rates are still detached from the price fluctuations of the secondary mortgage market. Instead, the ups and downs of consumer borrowing costs continue to be driven p..[read more]
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Is There Life After the Mortgage Business?
Wed, 28 Jul 2010 19:33:38 GMT
Posted To: The Garrett Watts ReportWe all know the mortgage business can be extremely profitable at times. We also know it can be disastrous at other times. Regulators and law makers have created an environment that makes us feel like a pin ball, bou..[read more]
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FHA Ready to Reduce Seller Concessions. HUD Invites Industry Comment Before Implementation
Wed, 28 Jul 2010 19:18:00 GMT
Posted To: MND NewsWireHUD is preparing to implement a few new policies that will no doubt affect your pipeline/loan application process. Last week, HUD and the FHA invited public comment on three of those policy changes, which are part of FHA's ..[read more]
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Beige Book: Mixed Reads on Economy. Housing Market Definitely "Sluggish"
Wed, 28 Jul 2010 18:24:00 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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MBS Prices Hit New Record High After 5-Year Note Auction
Wed, 28 Jul 2010 15:44:00 GMT
Posted To: MBS CommentaryMortgages are on a serious run... Front-month TBA levels set yet another new record high this morning and yield spreads continued to tighten vs. benchmarks (thx swaps!). While the street more than likely sees the current coup..[read more]
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Home Builder Rankings; Updates from HUD and Fannie Mae; Home Ownership Stats; FHA Sanctions;
Wed, 28 Jul 2010 15:25:04 GMT
Posted To: Pipeline PressLet me start off by saying that I do not believe the rumor that the International Olympic Committee has taken back skier Lindsey Vonn's gold medal, and instead awarded it to President Barack Obama, announcing that no one ..[read more]
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Refinance Demand Takes a Break While Purchase Apps Search for Bottom
Wed, 28 Jul 2010 13:25:00 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 23, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applic..[read more]
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The Day Ahead: Durable Goods, Beige Book, 5-Year Notes
Wed, 28 Jul 2010 12:26:43 GMT
Posted To: MBS CommentaryEquity futures are flat this morning ahead of the durable goods report for June and the Federal Reserve’s Beige Book, a summary of regional economies across the country. Ninety minutes before the opening bell, Dow futur..[read more]
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Mortgage Rates Still Immune to Rising Benchmark Yields
Tue, 27 Jul 2010 23:08:00 GMT
Posted To: Mortgage Rate WatchA much better than expected read on New Home Sales helped the stock market post strong gains yesterday. Typically, when stocks advance, their gains come at the expense of interest rates. While benchmark Treasury yields h..[read more]
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Dealers Prop 2-Year Auction Demand. Assessing Lender Reprice Potential
Tue, 27 Jul 2010 17:51:00 GMT
Posted To: MBS CommentaryThe Treasury just auctioned $38 billion 2-year notes . This auction amount is $2 billion less than the previous auction, $4 billion less than the May auction, and $6 billion less than the record $44 billion auction in April. ..[read more]
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FHA Penalizes Over 1,000 Lenders for Violating Regulatory Standards
Tue, 27 Jul 2010 17:47:34 GMT
Posted To: MND NewsWireThe Federal Housing Administration's Mortgagee Review Board (MRB) has revealed a list of over one thousand lenders against whom it has taken action over the last several months for violations of the agency's program req..[read more]
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Buyback Risk Locks Some Borrowers Out of Refi Market; Jawboning on Fannie and Freddie; Anecdotes from the Trenches;
Tue, 27 Jul 2010 17:31:00 GMT
Posted To: Pipeline PressOne patient came in and said, "Doctor, I have a serious memory problem." The doctor asked, "When did it start?" The man replied, "When did what start?" That line is short and to the point. Genera..[read more]
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Housing Finance Reform Now in Focus for Obama Administration
Tue, 27 Jul 2010 14:26:00 GMT
Posted To: MND NewsWireMuch to the surprise of many pundits, the recently signed Financial Reform Bill did not outline guidelines for regulators to begin crafting the future of Fannie Mae, Freddie Mac, and Ginnie Mae. Although this was viewed as an o..[read more]
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