Thursday, July 15, 2010

Foreclosure Filings on Track to Hit 3 Million Homes. Repos Expected to Reach 1 Million in 2010

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The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions... - MND NewsWire
Rate sheet influential MBS got their keister kicked by Treasuries today but price levels rose enough to give lenders a chance to reprice for the better... - MBS Commentary
Fixing a consumer's credit is not an easy process, nor is it quick. Depending on the make-up of defaults, it can take years to rebuild a credit profile... - MND NewsWire
jeffer90576
MBS Quotes
FNMA 4.0 101-23 0-11
FNMA 4.5 103-30 0-08
FNMA 5.0 105-28 0-01
FNMA 5.5 107-16 0-03
FNMA 6.0 108-22 0-00
Updated: 7/15/10 4:31 PM
Treasuries
3 MO 0.1500 0.0000
2 YR 0.6100 -0.0100
5 YR 1.7600 -0.0600
10 YR 3.0000 -0.0700
30 YR 3.9700 -0.0600
Updated: 7/15/10 5:41 PM
Mortgage Rates
30 Yr FRM 4.64 -0.04
15 Yr FRM 4.03 -0.03
FHA 30 Year 4.64 -0.05
Jumbo 30 Year 6.05 -0.03
5/1 Yr ARM 3.65 -0.03
Updated: 7/15/10 8:02 PM
Latest Video      
View:All Videos
Obama on Senate Passage of FinReg
7/15/2010
President Obama speaks on the passage of a financial regulation bill in the Senate.
Goldman Reaches Settlement With SEC
7/15/2010
Goldman Sachs has reached a settlement with the SEC regarding an outstanding CDO proble. CNBC's Kate Kelly has the story.
The Next Foreclosure Fight
7/15/2010
Homeowners struggling to pay their mortgages are letting homeowners associations fees slide, and now HOAs are fighting back and foreclosing. Tom Skiba...

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Recent Comments
Liz Freeman
on 7/15/2010 - read this comment
I had a client, a fireman who also moonlighted as a bartender, try to work me over on a deal after he asked me to lock a loan for him and then the pricing improved .25%. I had worked with him for months...
Adam Quinones
on 7/15/2010 - read this comment
Yes but that wasnt a factor of 3.5 production hitting the street, it was a factor of CMM/CMS spread widening. Cash market flows in the 3.5 coupon are coming from fast money accounts, not originators. CMM...
JTB
on 7/15/2010 - read this comment
AQ-Any movement in the 3.5 coupon? Looks like now is shaping up to be as good as any,if it ever does.
baron4
on 7/14/2010 - read this comment
"And if you do lock your loan, don't abandon your loan officer if another lender comes along and offers to cut your application fees in half. I'm not saying you shouldn't shop your mortgage...

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