Monday, October 31, 2011

Reversal of Fortune For Mortgage Rates

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Oct 31, 2011 3:35PM

Reversal of Fortune For Mortgage Rates

Building on Friday's strength, Mortgage Rates have experienced an almost complete reversal of fortune versus the weakness that surrounded the EU Summit. Movements. We can clearly consider "The Wall" at 4.25% discussed last week to have held firm despite coming frighteningly close to breaking it on Thursday. Ironically, rates are much less frightening on Halloween as Best-Execution moved decisively lower to straddle 4.0% and 4.125% today. Today's Rates: BESTEXECUTION 30YR FIXED - solidly 4.125 for...

Oct 31, 2011 10:07AM

Social Media Marketing for Loan Officers Workshop; Mortgage Jobs; MERS in the News Again

Welcome to Halloween. On this day every year Ops managers across the nation struggle between month-end funding and shipping more loans, or in judging the various department's Halloween decorating contests and sampling the potluck fare in the lunch room. Good luck! Here's something for those Bank of America and MetLife folks who are keeping their ears open. Caliber Funding , a Dallas-based lender licensed in 44 states with wholesale, retail, and mini-correspondent channels, is aggressively growing...


Micro News

4:16 PM:

Additional Positive Reprices as MBS Stay Strong All Day

12:02 PM:

Several Price Improvements, But Exceptions Vs Rules Unless Rally Resumes

10:20 AM:

FHFA Edward DeMarco Q&A (C-SPAN): HARP 2.0, Principal Writedowns, etc.

10:01 AM:

ECON: Chicago ISM, Lower Than Expected, but Losses Stabilizing

9:09 AM:

NYT: FED Panel is Divided on Direction; MBS Purchases

8:44 AM:

MBS Beginning The Week in Much Better Shape. FOMC, NFP Loom

4:34 PM:

Lessons From The Past 2 Sessions Ahead of a Busy Week

12:00 PM:

MBS Gains Picking Up Steam. Reprices For The Better.

Around the Web

Video News

Rick Santelli Weighs in on MF Global

Rick Santelli's Midday Bond Update

Rudin Sees Pickup in NYC Commercial Property Demand


Today's Comments

Jason Harris

"Regardless of your politics it is a bit much to be against a program as common sense as harp."

Frank Ceizyk

"Anne/Brett-such a tired weak argument to say "free markets" will save all. As long as large lobbying firms are empowered with the ability to..."

Anne Murray-Randolph

"I just don't see where it's the government's place to refinance people who are underwater so they can take the savings and pay off other debts..."

Today's Q&A

"Monthly Mortgage Rates in XLS format"

" Can a credit union holding a delinquent HELOC loan (2nd)sell the loan to a collector? "

"Short Sale to Lease - How would a program like this work?"

Friday, October 28, 2011

HARP 2.0 Unintended Consequences; New Projections for GSEs

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Oct 28, 2011 4:40PM

New Projections for GSEs Forecast Reduced Draws

The Federal Housing Finance Agency (FHFA) with the assistance of the two government sponsored enterprises (GSEs) for which it has oversight, has updated projections for the additional funds Freddie Mac and Fannie Mae will require from the U.S. Treasury. Since the GSEs were placed in conservatorship under FHFA in August 2008 Freddie Mac has drawn $65 billion and Fannie Mae $104 billion from Treasury under the terms of the Senior Preferred Stock Purchase Agreements (PSPAs) among the three parties....

Oct 28, 2011 9:39AM

HARP 2.0 Unintended Consequences; Old Republic Re-entering the MI Biz?

For those out there that like maps, who are Native American or Alaskan, or who live in Native American areas, here is a nifty illustration (Oklahoma really stands out!). You know you've become mainstream when you have a conference, whether it is the MBA or Burning Man. In this case, in Arizona in February, NMLS'ers will be dancing through the hallways . At a different conference ( the National Reverse Mortgage Lenders Association (NRMLA) 2011 Annual Conference ) Carol Galante, acting FHA Commissioner...


Micro News

4:34 PM:

Lessons From The Past 2 Sessions Ahead of a Busy Week

12:00 PM:

MBS Gains Picking Up Steam. Reprices For The Better.

9:59 AM:

ECON: Consumer Sentiment Picks up in Late October

8:51 AM:

EFSF Sell-Off: The Morning After. Bond Markets Slightly Improved

8:33 AM:

ECON: Personal Income Rises Less Than Expected. Spending Up

3:58 PM:

Several Economic Reports to End The Week

1:04 PM:

Potential Reprices For the Worse Following 7 Yr Auction

11:52 AM:

Republican Proposes Reshaping US Mortgage Market

Around the Web

Video News

Housing 2.0: Americans Shift Away from Homeownership

Cashing In On Foreclosures?

Rick Santelli's Morning Bond Report


Today's Comments

Jason Harris

"Regardless of your politics it is a bit much to be against a program as common sense as harp."

Frank Ceizyk

"Anne/Brett-such a tired weak argument to say "free markets" will save all. As long as large lobbying firms are empowered with the ability to..."

Anne Murray-Randolph

"I just don't see where it's the government's place to refinance people who are underwater so they can take the savings and pay off other debts..."

Today's Q&A

"Short Sale to Lease - How would a program like this work?"

"To lock or not to lock? New construction"

"When can I apply for a refi under the revised HARP program?"

Thursday, October 27, 2011

New House Proposal on Evolution of the Secondary Mortgage Market

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Oct 27, 2011 2:10PM

New House Proposal on Evolution of the Secondary Mortgage Market

The Chairman of the House committee that has been most active in the proposed dismantling of Freddie Mac and Fannie Mae has released his proposal to reform the secondary mortgage market . Rep. Scott Garrett (R-NJ) who heads the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises said his proposal intends to ensure robust private investment in the market without a government guarantee. His proposal would also abolish the risk-retention or so-called "skin-in-the...

Oct 27, 2011 5:16PM

Back Against The Wall for Mortgage Rates

The bigger reaction to events in Europe over the past two days sent Mortgage Rates higher today, now at the edge of the recent range. Whereas lender offerings were more stratified yesterday, as rates get pushed up to the wall at 4.25%, the variability has subsided somewhat. Today's Rates: BESTEXECUTION 30YR FIXED - 4.25% FHA/VA - 3.875% - 4.0% 15 YEAR FIXED - 3.625%, some 3.5% 5 YEAR ARMS - low 3% range, huge variations from lender to lender. Yesterday's Guidance (but a good read today): Unfortunately...


Micro News

3:58 PM:

Several Economic Reports to End The Week

1:04 PM:

Potential Reprices For the Worse Following 7 Yr Auction

11:52 AM:

Republican Proposes Reshaping US Mortgage Market

10:17 AM:

NAHB: Remodeling Still Slowing After Reaching Four Year High in Q1

10:06 AM:

Freddie Mac: Fixed Mortgage Change Little

10:04 AM:

NAR: Pending Home Sales Fall 4.6%

9:53 AM:

FHFA Updates Projections of Potential Draws for Fannie Mae and Freddie Mac

9:29 AM:

SIGTARP Releases Quarterly Report to Congress

Around the Web

Video News

Freddie Mac Chief Stepping Down

Deal Reached in Eurozone Crisis

Secondary Mortgage Market Reform


Today's Comments

Matt Silver

"That last chart gave me the chills. If history repeats itself..LOOK OUT BELOW!"

D.E. Thompson

"Can we see a repeat and a fall 50-100 points lower than the 700? That would be one serious dip and a crazy MG crystal ball chart prediction... LOL... But..."

Matthew Graham

"the last chart is me staring for 5 minutes at a long term S&P chart and drawing some circles around some stuff that looks similar in shape. My 4 year..."

Today's Q&A

"How can mortgage companies advertise mortgage rates that aren't accurate?"

"What would replace the 30 Year Mortgage?"

"My mortgage has a large escrow balance due. What does it mean? "