Monday, November 7, 2011

Allied's False Claim Act Lesson; Upcoming LP, UCDP, UAD, and UMDP

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Nov 7, 2011 9:58AM

Allied's False Claim Act Lesson; Upcoming LP, UCDP, UAD, and UMDP

Everyone received an extra hour this weekend - and don't forget that Friday the bond market is closed in the U.S. So if any company is generating a rate sheet and taking locks on the 11th, don't expect sharp pricing - the usual procedure is to take Thursday's close, see what happened in Europe, and then back things off .250 or more. Sometimes I joke about a board game titled, "Mortgage Banker Scrabble," where one draws three words out of a bin and creates a company name from them. Words like union...

Nov 7, 2011 4:05PM

Mortgage Rates Unchanged to Slightly Improved

Once again, Mortgage Rates have improved very slightly. This wasn't necessarily the case this morning, but market movements during the day resulted in several lenders offering small improvements. Most of those improvements will be seen in terms of slightly lower closing costs as Best-Execution remains centered on 4.0%. Today's Rates: BESTEXECUTION 30YR FIXED - Centered on 4.0% FHA/VA - 3.75, fewer 3.875% 15 YEAR FIXED - 3.375%-3.5% 5 YEAR ARMS - low 3% range, huge variations from lender to lender...


Micro News

4:04 PM:

First American: Improving Markets Expanded to 30 Metros

3:17 PM:

Positive Reprice Risk Gone. Neutral to Negative Now on Recent Losses

2:54 PM:

In Fed Survey, 1/2 US Banks Report Europe Dealings. Mortgage Demand Improves

2:15 PM:

HUD Issues Allied Home Mortgage Q&A

2:03 PM:

Freddie Mac: 82 Percent of Refinancing Homeowners Maintain or Reduce Mortgage Debt in Third Quarter

12:11 PM:

Potential Positive Reprices. Need More Time For Majority of Lenders

9:06 AM:

ECON: Home Prices Slip in September According to CoreLogic

8:48 AM:

Bond Markets Near Unchanged. New Gov For Greece. Italy Takes Torch

Around the Web

Video News

Italy Now Focus of Debt Crisis

Risky Mortgage Assets Pressure Europe's Banks

SIFMA Conference: MF Global Failure


Today's Comments

alan lacey

"My understanding is that Basel III is primarily going to apply tobanks and larger international financial institutions. So if it presenets that much of..."

Frank Ceizyk

"This is so tiresome--Allied is a scapegoat in a failed housing valuation system. As long as we have a speculative valuation process for housing that focuses..."

Jim Lebeau

"humn.... I understand the FHA enforcement now. But um...a where were they back when these unapproved offices were getting FHA Case nubers etc. Who are..."

Today's Q&A

"Does anyone have any experience with Mortgagebot and how it interfaces with MORvision?"

"LTV is over 125%, Can I get a new loan"

"can a real estate salesperson be liceansed in more then one state at a time?"