Upcoming Training and Events; Sindeo Back; Survey Strategy

Posted To: Pipeline Press

Besides 7/11 being “Free Slurpee Day,” we’re in the middle of “home buying season” (if there are actually listings) and loan officers are currying the favor of real estate agents coast to coast. Just how far will a real estate agent go to seal a sale in New York? Here are some tips LOs can give agents for selling properties. Upcoming events There are just a few spots left to register for the Lenders One 2017 Summer Conference in Minneapolis, August 6-9. For this members-only event, Lenders One has curated six education tracks led by industry experts, including two Secondary Market panels that I will be monitoring. “Join us as we look at the future of the industry and take away insights on topics that apply to your current organizational needs. We’ve incorporated…(read more)

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Upcoming Training and Events; Sindeo Back; Survey Strategy
Upcoming Training and Events; Sindeo Back; Survey Strategy

MBS Day Ahead: Still Waiting on Bigger-Ticket Events For Inspiration

Posted To: MBS Commentary

Bond markets (and stocks for that matter) have been stuck in narrow, sideways ranges over the past 4 trading sessions. This is a major departure from the strong momentum seen in the week prior when markets were reacting to surprisingly blunt comments from ECB President Mario Draghi concerning European tapering. As seen in the US version of the taper tantrum, both stocks and bonds took a hit, but the latter hasn't been nearly as bad as the former (the blue line below may look like it's experiencing more volatility, but that's due to the scaling of the chart. Case in point, bond prices are down roughly 2% since 6/19 while stock prices are down less than half a percent). The sideways/narrow range won't have many compelling opportunities to break down until at least tomorrow. That's…(read more)

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MBS Day Ahead: Still Waiting on Bigger-Ticket Events For Inspiration
MBS Day Ahead: Still Waiting on Bigger-Ticket Events For Inspiration

Rates Little-Changed Near Recent Highs; Underwater Disparity; Lender/Investor Changes; Week Ahead

Mortgage rates improved somewhat today, on average, but the gains were modest. Some lenders were unchanged from Friday afternoon’s latest levels. That leaves us essentially in line with the highest rates since early April, after having been at 8-month lows just 2 weeks ago. From 8-month lows to 3-month highs is an abrupt move taken at face value, but it’s made possible due to a narrow range persisting during that time (relative to other stretches of 8 months of time). In terms of today’s finer detail, it may as well have been a 3rd day of the weekend as far as bond markets (which underlie rates) were concerned. Trading levels haven’t moved out of their recently higher, narrower range since last Thursday morning. That will likely change –if not tomorrow, then shortly thereafter. The second
Rates Little-Changed Near Recent Highs; Underwater Disparity; Lender/Investor Changes; Week Ahead
Rates Little-Changed Near Recent Highs; Underwater Disparity; Lender/Investor Changes; Week Ahead

MBS RECAP: 3-Day Range Intact Despite Modest Gains

Posted To: MBS Commentary

Bond markets were exceptionally quiet today. Even though trading levels were technically stronger than Friday, 10yr yields have remained in the same range (during domestic hours) since Thursday. On a positive note, yields did more to push against the lower boundary of that range (2.362), but weren't able to break through, coasting to a close at 2.373. Meanwhile, Fannie 3.5 MBS have outperformed slightly, relative to the same 3-day range, with today's trading levels breaking noticeably higher. Prices rose just over an eighth of a point, ending the day in line with the highs at 102-18. There were no significant economic reports or market moving headlines. Volume was very low–especially compared to the heavier volumes seen at the end of last week. The rest of this week should see activity…(read more)

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MBS RECAP: 3-Day Range Intact Despite Modest Gains
MBS RECAP: 3-Day Range Intact Despite Modest Gains

Mortgage Rates Little-Changed Near Recent Highs

Posted To: Mortgage Rate Watch

Mortgage rates improved somewhat today, on average, but the gains were modest. Some lenders were unchanged from Friday afternoon’s latest levels. That leaves us essentially in line with the highest rates since early April, after having been at 8-month lows just 2 weeks ago. From 8-month lows to 3-month highs is an abrupt move taken at face value, but it’s made possible due to a narrow range persisting during that time (relative to other stretches of 8 months of time). In terms of today’s finer detail, it may as well have been a 3rd day of the weekend as far as bond markets (which underlie rates) were concerned. Trading levels haven’t moved out of their recently higher, narrower range since last Thursday morning. That will likely change –if not tomorrow, then shortly thereafter. The second…(read more)

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Mortgage Rates Little-Changed Near Recent Highs
Mortgage Rates Little-Changed Near Recent Highs

CFPB bans mandatory arbitration clauses

[View:http://video.cnbc.com/gallery/?video=3000634568&__source=mnd|news|video|&par=mnd]

CNBC's Ylan Mui reports on the Consumer Financial Protection Bureau ruling that bans mandatory arbitration clauses that prevented consumers from filing joint class action lawsuits.

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CFPB bans mandatory arbitration clauses
CFPB bans mandatory arbitration clauses

Santelli Exchange: Nat'l Assoc. of Realtors call for mortgage liquidity fund

[View:http://video.cnbc.com/gallery/?video=3000634046&__source=mnd|news|video|&par=mnd]

Fmr. Treasury General Counsel & American Enterprise Institute Fellow Peter Wallison & CNBC's Rick Santelli discuss housing finance reform.

…(read more)

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Santelli Exchange: Nat'l Assoc. of Realtors call for mortgage liquidity fund
Santelli Exchange: Nat'l Assoc. of Realtors call for mortgage liquidity fund

Warehouse, Compliance; More Changes for Lenders/Investors

Posted To: Pipeline Press

Fannie/Freddie, Both Conforming and Conventional News In Freddie Mac news, “To ensure we continue to provide responsible financing options, we will change our requirements for Home Possible Mortgages , including Home Possible Advantage Mortgages. Gifts or grants from the Seller as the originating lender will only be permitted after a contribution of at least 3% of value (i.e., the lesser of the appraised value or the purchase price) is made from the Borrower’s personal funds and/or other permitted sources of funds, including a gift from a Related Person, funds from government agencies, employer housing programs and Affordable Seconds…Gifts or grants from the Seller must not be funded directly or indirectly through the Mortgage transaction, including differential pricing in rate, discount…(read more)

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Warehouse, Compliance; More Changes for Lenders/Investors
Warehouse, Compliance; More Changes for Lenders/Investors

MBS Week Ahead: Fairly Tame Econ Calendar, Yellen at Congress, and Ongoing EU Concerns

Posted To: MBS Commentary

This week's economic calendar is fairly light, with no top tier reports until Thursday (Producer Prices) and Friday (CPI/Retail Sales). For what it's worth, the Producer Price Index (PPI) typically isn't a major market mover, but I've lumped it in with the "top tier" designation this week due to the Fed's shift to a laser-beam focus on inflation metrics . Even then, it will be the Consumer Price Index (CPI) the following day that has the greatest market movement potential (a weak CPI was the source of the rally on 6/14, upstaging even the Fed Announcement). Ironically, CPI comes out only AFTER a fairly active slate of Fed speeches for the week. By far and away , the most important Fed speeches will be from Yellen as she delivers her semiannual congressional testimonies…(read more)

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MBS Week Ahead: Fairly Tame Econ Calendar, Yellen at Congress, and Ongoing EU Concerns
MBS Week Ahead: Fairly Tame Econ Calendar, Yellen at Congress, and Ongoing EU Concerns

Black Knight Notes Disparity in Negative Equity Rates

Posted To: MND NewsWire

The housing industry has been looking for a slowdown in home price growth for several years, but quite the contrary has occurred. Black Knight Financial Services, in its current edition of its Mortgage Monitor , notes that the 1.3 percent monthly increase in its Home Price Index (HPI) in March was the highest in nearly four years, and that was followed by a 1.2 percent gain in April. Through the first four months of the year, prices were up 3.6 percent compared to 2.9 percent over the same period in 2016. When viewed on an annual basis, the increase is 60 basis points higher than the rate in December 2016. The year-to-date pace is the highest since 2013’s gain of 4.1 percent. The trend is widespread. Prices have risen so far this year in every state but Maine and West Virginia and four, Washington…(read more)

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Black Knight Notes Disparity in Negative Equity Rates
Black Knight Notes Disparity in Negative Equity Rates