Monday, September 12, 2011

Possible HARP Changes; MERS Holding It's Own

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Sep 12, 2011 11:34AM

Possible HARP Changes; MERS Holding It's Own; Loan Limits Extension

Don't forget that we're one week away from "Talk Like a Pirate Day." Of course, to err is human; to arr is pirate. The next time you're thinking about outsourcing your underwriting to another nation, think twice: Video A few weeks back the mortgage-backed security markets were roiled with rumors of a massive government sponsored refinance program. Investors who owned any securities at 5% or above, containing 30-yr loans with rates of 5.25% or above, were wringing their hands, worried that suddenly...

Sep 12, 2011 4:54PM

Stocks and Bonds Maintain Trends. MBS Maintains Concrete Ceiling

Apart from the mid-day drama surrounding rumors that China was set to buy Italian Bonds, and to a a lesser-extent, Dallas Fed Pres Fisher's reference to Jujitsu in his speech, today was fairly uneventful. Both MBS and Treasuries just sort of leaked weaker at a fairly measured pace. In the after hours session, 10yr yields even bounced off some support around 1.95 which was a high volume mark from Friday morning. Markets are clearly continuing to trade technically amid the uncertainty. Here's a look...


Micro News

5:07 PM:

Freddie Mac Annouces Requirements for the Standard Modification

4:08 PM:

Fed's Fisher Prepared to Use Jujitsu if Necessary

3:39 PM:

Economic Data Picks Up Tomorrow, 10yr Auction on Tap

3:23 PM:

Reprice Risk Evaporates Almost as Quickly as it Arrived

3:03 PM:

China Rescues the World Again, Italian Bond Edition

2:44 PM:

Marked Move Outside Recent Range Creates Negative Reprice Risk

2:18 PM:

BofA Looks to Cut $5B in Costs Annually, Aproximately 30K Jobs

1:16 PM:

3yr Auction Relatively Strong Considering Circumstances

Around the Web

Video News

Bowers Says Housing Weighing on U.S. Consumer Confidence

Fisher Says Low Rates May Be Incentive to Not Borrow

Paar: Flood Insurance Program Lapse Would Harm Housing


Today's Comments

Lee3370

"Anne, its very hard to modify a fannie/freddie backed loan because the bank you think is the investor is not the investor, they are the servicer. This..."

Lee3370

"Russ, The risk is on the new investor of the mortgage security. The old investor is "stuck" with the upside down mortgage, but the new investor..."

Russ Martin

"Can someone please explain how refinancing an existing loan to a lower interest rate is riskier than doing nothing for a home owner? If a homeowner has..."

Today's Q&A

Anonymous

"What happens to the note when a seller who has financed a house..."

Anonymous

"My brother just got married in Nevada and had his loan approved..."

Anonymous

"If a house has been forclosed on and the property taxes have..."