Servicing, 203(k) Products; Conventional Conforming Underwriting Shifts

Posted To: Pipeline Press

Does anyone out there care that credit-card debt rose to a record $930 billion in Q4 2019? (Total mortgage debt hit $9.56 trillion.) How about that the origination cost of over $8,000 per loan hits low balance loan borrowers more than high balance borrowers? Do you break out your “tech spend” per loan? Has it gone from hundreds to thousands of dollars? Residential lending is truly a numbers game. According to Informa Financial Intelligence January 2020 Mortgage Originations Data, rate-lock volume has increased 71% YoY and 42% MoM across all channels, while funded volume has increased 70% YoY and fallen 10% MoM. In the Retail channel, lock volume has increased 78% YoY and 48% MoM, while funded volume has increased 94% YoY and fallen 17% MoM. Average 30-year Conforming FRM funded…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Servicing, 203(k) Products; Conventional Conforming Underwriting Shifts
Servicing, 203(k) Products; Conventional Conforming Underwriting Shifts

GOP senators raise concerns about politicization of the Fed after Shelton hearing

(Please visit the site to view this media)

CNBC's Steve Liesman reports on the questions emerging about President Trump's Fed nominee Judy Shelton following a contentious confirmation hearing on Thursday.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


GOP senators raise concerns about politicization of the Fed after Shelton hearing
GOP senators raise concerns about politicization of the Fed after Shelton hearing

Fannie/Freddie Report Growing Net Worth Under new Policy

Posted To: MND NewsWire

Both of the government sponsored enterprises (GSEs) posted strong earnings for the fourth quarter of 2019 as well as for the entire year. They are now reporting growing net worth after achieving revisions in the 2012 version of their agreement with the U.S. Treasury that allows them to retain their earning. Fannie Mae reported net income of $14.16 billion for 2019 and fourth quarter earnings of $4.37 billion. The annual income was down from $15.96 billion in 2018, but quarterly income was $402 million higher than that generated in Q3. Net revenues for the year rose from 21.93 billion in 2018 to $22.14 billion last year and from $5.23 billion in the third quarter to $5.85 billion. Revenue includes both net interest income and income from fees. Interest income increased from $5.23 billion in…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Fannie/Freddie Report Growing Net Worth Under new Policy
Fannie/Freddie Report Growing Net Worth Under new Policy

John Hope Bryant: It's critically important the Fed stays independent

(Please visit the site to view this media)

John Hope Bryant, chairman and CEO of Operation Hope, joins "Squawk Box" to discuss whether we're starting to see the politicization of the Fed and what that might mean for markets.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


John Hope Bryant: It's critically important the Fed stays independent
John Hope Bryant: It's critically important the Fed stays independent

Fed nominee Shelton has said questionable, unconventional things: Economist

(Please visit the site to view this media)

CNBC's "Closing Bell" team discusses Trump's Federal Reserve nominees with Michelle Meyer of Bank of America Global Research and David Rosenberg of Rosenberg Research.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Fed nominee Shelton has said questionable, unconventional things: Economist
Fed nominee Shelton has said questionable, unconventional things: Economist

There's now a record number of 401(k) and IRA millionaires, according to Fidelity

(Please visit the site to view this media)

Fidelity, the largest 401(k) provider in the United States, released its quarterly analysis Thursday. The report on retirement trends has become increasingly relevant as baby boomers retire in record numbers. CNBC's Bob Pisani reports.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


There's now a record number of 401(k) and IRA millionaires, according to Fidelity
There's now a record number of 401(k) and IRA millionaires, according to Fidelity

Former Dallas Fed president on the coronavirus outbreak and Fed nominee Judy Shelton

(Please visit the site to view this media)

Richard Fisher, former Dallas Fed president, joins 'Fast Money Halftime Report' to discuss what the coronavirus outbreak could do to the world economy, Fed nominee Judy Shelton's hearing at the Capitol Hill and the state of the U.S. economy.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Former Dallas Fed president on the coronavirus outbreak and Fed nominee Judy Shelton
Former Dallas Fed president on the coronavirus outbreak and Fed nominee Judy Shelton

Proposed 2021 Budget Would Increase G-Fees

Posted To: MND NewsWire

The 2021 Federal Budget prepared by the White House is given little chance of passing Congress but there are a couple of provisions buried in the hundreds of pages of text that might be of interest to MND readers. One is a 10-basis point increase in g-fees , the guarantee fees the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac charge lenders for guaranteeing loans. The White House estimates the new fee will generate $34 billion over the next 10 years. The current fee averages about 55 basis points including a 10-basis point fee put in place in 2011 to fund the Temporary Payroll Tax Cut. Legislation enabling that fee will expire in 2021 and it is estimated to have generated $31 billion over the last ten years. What is unclear is whether the new fee would be in addition to…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Proposed 2021 Budget Would Increase G-Fees
Proposed 2021 Budget Would Increase G-Fees

MBS Day Ahead: Beware The (Ongoing) Bounce

Posted To: MBS Commentary

Fancy chart overlays and technical studies are frustrating in the sense that they give us another angle to understand and discuss market movement, but they fall far short of reliably predicting the future. Spoiler alert: that holy grail won't ever exist when it comes to legally tradeable, publicly available market insight because, if it did exist, word would get out, the trade would become crowded, and it would no longer be a money maker. But let's forget I said all that so I can sell you a bit of this snake oil. It's like taking elderberry extract when you think you might be getting sick. If you don't get sick, was it the elderberry? Will you ever know? Same story with momentum technicals in the bond market. Both shorter and longer-term momentum technicals hit overbought levels…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


MBS Day Ahead: Beware The (Ongoing) Bounce
MBS Day Ahead: Beware The (Ongoing) Bounce

Initial jobless claims rise 2,000 to 205,000

(Please visit the site to view this media)

CNBC's Rick Santelli reports on the latest economic data, including weekly jobless claims and January CPI.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Initial jobless claims rise 2,000 to 205,000
Initial jobless claims rise 2,000 to 205,000