Wednesday, April 25, 2012

Mortgage Rates Slightly Higher After FOMC Events

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Apr 25, 2012 3:35PM

Mortgage Rates Slightly Higher After FOMC Events

Mortgages Rates are higher today, following the FOMC Announcement , Member Forecasts and Press Conference. The actual text of the Fed's announcement and the actual levels of it's future forecasts did not cause the move higher in rates. Rather, weaker market levels in the morning combined with the fact that those FOMC-related events held the potential to cause volatility caused initial rate sheets this morning to be a bit weaker than they otherwise would have been due to market levels alone. In other...

Apr 25, 2012 3:48PM

Fannie Mae Sets Short Sale Rules, Timelines

Fannie Mae issued guidelines to its servicers today improve the timing and methods of handling pre-foreclosure sales, more commonly known as short sales . The new rules apply to all conventional mortgage loans held in Fannie Mae's portfolio, loans purchased for that portfolio but subsequently securitized into Fannie Mae mortgage backed securities (MBS) pools and those originally delivered as part of an MBS pool. While not required, servicers are encouraged to follow the guidelines for loans sold...


Micro News

4:50 PM:

MBS Grind Around Unchanged Levels Into The Close

2:44 PM:

Bernanke Answers Big Questions, Bond Markets Calm Down

2:10 PM:

Reaction to Forecasts Continues Playing Out, MBS Bounce Back

2:02 PM:

Initial Reaction To Fed Forecasts=Negative. Negative Reprice Risk

1:28 PM:

Reuters "Instant Views" on FOMC Announcement:

1:11 PM:

Some Organic Indecision As Bond Markets Get Antsy

12:49 PM:

Knee Jerks Slowing Down, Bond Markets See Sunlight

12:40 PM:

Starting To Hold Ground Now.... Reprice Risk Present, but Easing

Around the Web

Video News

Fed Will Keep Interest Rates Near Zero Through 2014

Timothy Geithner's Economic Outlook

`Crowdfunding' Misleads Investors, Isenberg Says


Today's Comments

Harold Crick

"The chances of SB 1470 in its present incarnation becoming law is zip. The California court system is already maxed out - it's an untenable proposition..."

Matthew Graham

"you guys both missed the point... So I'll say it with fewer words. All the "stuff" Frank references = bad. I wouldn't argue that. Maybe..."

Frank Ceizyk

"Wow Matt--I usually agree with you but here's the problem with your iron story--imagine if mom, and everybody around you that was a trusted source..."

Today's Q&A

"Which delivery guy's details will informed to D3 gold?"

"Is a good faith estimate required for a Non Resident Alien "

"How do I sell or, minimally, refinance my condo at current low interest rates?"

Tuesday, April 24, 2012

HARP 3.0? California to Change Foreclosure Laws? MGIC and SunTrust Results

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Apr 24, 2012 10:40AM

HARP 3.0? California to Change Foreclosure Laws? MGIC and SunTrust Results

From the New York Times Science sections comes, "While baboons can't read, they can tell the difference between real English words and nonsensical ones, a new study reports. Baboons can master a basic element of reading, says a French team. "They are using information about letters and the relation between letters to perform the task without any kind of linguistic training," said one psychologist. He and his colleagues worked with six baboons that were given free access to touch-screen computers...

Apr 24, 2012 12:16PM

S&P, FHFA Home Price Indices Show Mixed Results

Two major home price indices released this morning indicate that, while home prices are improving the changes are slow and relative . The Federal Housing Finance Agency's (FHFA) Home Price Index rose 0.3 percent on a seasonally adjusted basis from January to February while S&P/Case Shiller 10-City and 20-City Composite indices showed annual losses of 3.6 percent and 3.5 percent respectively, an improvement over losses posted in January of 4.1 and 3.9 percent. The FHFA Index is calculated using...


Micro News

5:03 PM:

LPS "First Look" Shows Further Decline in Delinquencies

3:27 PM:

More New Lows For MBS; Another Notch Higher For Reprice Risk

3:05 PM:

Reprice Risk Rising Again as MBS Test Lows

2:14 PM:

MBS Fairly Well-Supported. Overall Momentum Fairly Sideways

10:50 AM:

Reprice Risk Already? Depends on Rate Sheet Time.

10:13 AM:

ECON: FHFA House Price Index Up 0.3 Percent in February

10:09 AM:

ECON: New Home Sales Beat Consensus, But Lower Vs. Feb

10:05 AM:

ECON: The Conference Board Consumer Confidence Index Virtually Unchanged

Around the Web

Video News

Ahead of Bernanke's Fed Meeting

FHFA Under Pressure

90 Seconds with Art Cashin: 'Head Fake' on New Home Sales


Today's Comments

Frank Ceizyk

"Wow Matt--I usually agree with you but here's the problem with your iron story--imagine if mom, and everybody around you that was a trusted source..."

Matthew Graham

"It's morbidly funny, in a way, to see the ongoing flood of reaction to mortgage melt-down. It reminds me of when I was 5 years old... I reached for..."

Rick Baron

"They're reinventing the wheel. Did they come up with this all by themselves, or did someone tell them that's what was in place and worked well..."

Today's Q&A

"Can we stop the extention of a loan by a spouse"

"can delinquent property taxes be rolled into new loan amount on a VA IRRRL?"

"Where can I find a current lien holders and/or property owners of a real estate property"

Monday, April 23, 2012

Mortgage Insurer's Quarterly Report is a Litany of Troubles

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Apr 23, 2012 5:31PM

Mortgage Insurer's Quarterly Report is a Litany of Troubles

MGIC Investment Corporation reported its First Quarter 2012 financial results this morning in which it said its net losses for the quarter totaled $19.6 million, a significant improvement over the $33.7 million it lost during the same period in 2011. The financial information however was secondary to the litany of problems outlined in the report. MGIC is the nation's largest private mortgage insurer (PMI) with $169.0 billion primary insurance in force covering 1.1 million mortgages. It said, however...

Apr 23, 2012 2:49PM

Mortgage Rates Lowest Since February To Begin Potentially Volatile Week

Mortgages Rates are back to their lowest levels since February. For an increasing number of lenders, current rates begin to shift the balance towards 3.875% as being the only Best-Execution Rate for Conventional 30yr Fixed Loans. Best-Ex is currently shared by 3.875% and 4.0%. In many cases, the actual interest rate quoted by lenders will be the same today as it was last week, with the improvements seen in the form of lower closing costs (or increased lender credit toward closing costs as the case...


Micro News

2:42 PM:

MBS Outperforming, But Dragged Down By Treasuries

12:35 PM:

MBS Seek Sideways Support After Minor Correction

9:38 AM:

Bond Markets Begin Week Stronger, Already Forging New Range

1:38 PM:

Futures-Led Mini-Snowball Leading to Modest Late Day Gains

9:31 AM:

Bond Markets Holding Ground After Opening Slightly Weaker

4:23 PM:

Just When It Looked As If MBS Would Break The Range....

4:20 PM:

Plaza Clarifies VA IRRRL Changes

2:51 PM:

10's Make Run at 1.95, MBS Break Into New Highs

Around the Web

Video News

Santelli's Midday Bond Report

Is Bottom In for Housing?

The Santelli Exchange: The Europe Effect


Today's Comments

Frank Ceizyk

"Wow Matt--I usually agree with you but here's the problem with your iron story--imagine if mom, and everybody around you that was a trusted source..."

Matthew Graham

"It's morbidly funny, in a way, to see the ongoing flood of reaction to mortgage melt-down. It reminds me of when I was 5 years old... I reached for..."

Rick Baron

"They're reinventing the wheel. Did they come up with this all by themselves, or did someone tell them that's what was in place and worked well..."

Today's Q&A

"Can an individual with a felony conviction obtain a real estate license in Delaware?"

"Credit repair question. I have 1k to pay off something, which should I pay??"

"How soon after purchasing my home with a ballon mortgage, can i sell it?"