Monday, June 18, 2012

PHH joins FHA Streamline Movement; FHA Purchase Program; TBW CFO Heading for the Slammer

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Jun 18, 2012 10:03AM

PHH joins FHA Streamline Movement; FHA Purchase Program; TBW CFO Heading for the Slammer

Don't do the crime if you can't do the time. Another ex-exec (the CFO) at Taylor Bean Whittaker is now going to prison for five years. Rates are great , and many indices show that home prices continue to turn the corner . Recently the CoreLogic housing index jumped 2.4% in April, following the upwardly revised 1.1% gain in March. This gain was the strongest monthly return since 1976. And companies continue to try to grab market share with BofA's, MetLife's, GMAC's, and ING's scaling back. In Southern...

Jun 18, 2012 2:48PM

Mortgage Rates Edge Slightly Deeper Into All Time Lows

Mortgage Rates were slightly lower again today after hitting new all-time lows on Friday. It continues to be the case that different lenders are adjusting rate sheets in different ways in the current environment. Because of this, an individual lender may not be priced at their all-time lows today, but the average across all the rate sheets we assess fell another 0.01 today, more firmly establishing 3.625% as the current Best-Execution rate for Conventional 30yr Fixed loans. (Read More: What is A...


Micro News

2:23 PM:

MBS Uneventful Sideways Grind Threatened By Greek Headlines

11:00 AM:

Bond Markets Take A Quick Dip. MBS Holding Ground For Now

10:06 AM:

ECON: Builder Confidence Rises Back To Pre-Revision Level

9:07 AM:

Initially Weaker Following Elections, Bond Markets Gain It All Back

5:02 PM:

Pro-Bailout Conservatives Win Greek Elections

1:32 PM:

Afternoon Weakness Coming And Going; Beware Pipeline Control Reprice

9:48 AM:

Bond Markets Ratchet To Stronger Levels, With or Without Econ Data

9:17 AM:

ECON: Industrial Production -0.1 Pct vs +0.1 Pct Consensus

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Today's Comments

Ray J

"As long as brokers disclose their YSP and consumers are able to shop around what's the issue? I can buy a TV at CompUSA for 300 and the same TV at..."

Frank Ceizyk

"I am curious where the example of a broker juicing a rate from 6% to 8% came from? The abuses of "yield spread premiums" that I have read about..."

Rich Reimiller

"Perfect example of the difference in wholesale and retail underwriting. Wells Fargo on the retail side will go down to 600 credit scores. The article states..."

Today's Q&A

"HOW DO YOU CONTACT THE BOARD TO REPORT SOMEONE WHO IS DEFRAUDING THEIR REALESTATE LICENSE"

"buyer for manufactured homes "

"Loan for another rental property"