Thursday, July 14, 2011

Foreclosure Reality Distorted by Processing Delays

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Jul 14, 2011 10:31AM

Foreclosure Reality Distorted by Processing Delays

RealtyTrack has reported a generally downward trend in foreclosure filings since last fall, but the monthly variations tended to mask the magnitude of the trajectory. The mid-year report, released on Thursday, solidifies the impression of an improving situation. Foreclosure filings nationwide were down 29 percent during the first half of 2011 compared to the last half of 2010 and were 25 percent lower than filings during the first half of last year. Still, the numbers are still depressing; one in...

Jul 14, 2011 4:27PM

Rate Movers: Political Gamesmanship and Curve Spreads

The day got off to a slow start with both benchmark TSYs and "rate sheet influential" MBS experiencing modest price declines as stocks ventured marginally higher. Lenders who did not reprice for the better yesterday afternoon passed along gains this morning, which essentially erased today's weakness and left pricing unchanged. Lenders who did reprice for the better yesterday took back those gains this morning, leaving loan pricing basically unchanged. It was a real barnburner. Rates did however begin...


Micro News

4:32 PM:

Foreign Central Banks' US Debt Holdings Fall

4:00 PM:

Tomorrow's Secret: Economy, Debt Ceiling, Europe, or Techs?

3:27 PM:

Rate Mover: Political Gamesmanship

1:23 PM:

Surprisingly Strong 30 Year Auction Results

9:11 AM:

Banks File Plans to Fix Mortgage Servicing

8:47 AM:

ECON: Producer Price Index down 0.4 pct in June

8:36 AM:

ECON: June Retail Sales Rise on Autos, Gas Drops

8:35 AM:

ECON: Jobless Claims Fell to 405k vs 415k Consensus

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Today's Comments

Dave Wagner

"I've got 4.375% on a C30 just over par....strange, since we're not trying to buy the market."

Show Rates

"I don't see 4.375% at TD or Wells or my bank yet...I'm not looking to do anything outside of a fixed 30 yr refi...looks like 4.625% currently being..."

Dan Clifton

"The people on the Hill have no idea what they are doing, what they need to do or how to do it. Indeed if you got 100 mortgage professionals in a room to..."

Today's Q&A

Anonymous

"Is real estate tax Paid "in advance" or for the past..."

Anonymous

"I have excellent credit rating/score/history but low income,..."

Anonymous

"I stopped paying my mortgage for 9 months but it has been a year..."

Today's Forum Discussions

dr mort

"Philip Pantana is a THIEF and FRAUD. Deceived Investors during a Ponzi Scheme. Advance Fee Scam. Ohio Company but lives in Virginia. Author used proceeds..."

dr mort

"Viscount Castlerosse is a THIEF and FRAUD. Take advace fees and never contact back, never return calls. STAY AWAY from them if you don't want to be..."

Dylan Grindol

"I am just starting out in the mortgage industry. I am 2 weeks into my mortgage career. I am starting off as an administrative assistant, until I pass the..."