Friday, September 16, 2011

Mortgage Company Performance Survey Findings; LO's Comment on Effect of New Comp Rules

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Sep 16, 2011 10:40AM

Mortgage Company Performance Survey Findings; LO's Comment on Effect of New Comp Rules

"I went for my routine check-up today and everything seemed to be going fine until he asked me to drop my shorts! Do you think I should change dentists?" Sometimes things aren't what people are expecting. I received this note. "I was wondering if you are receiving many comments from LO's regarding the new comp rules . As the dust settles, here is the effect : For the first 3 months under my commission plan, which was a fair number if in a high volume market, I wound up earning $3,500 less than I...

Sep 16, 2011 2:51PM

Mortgage Rates: AM Weakness Mostly Recovered in the PM

After a rough morning, the secondary mortgage market recovered enough to claw back nearly to yesterday's levels. That leaves borrowing costs required for average Mortgage Rates unchanged to marginally higher depending on the lender. This basically makes today a non-event in the sense that there's no change to yesterday's "current market" rates, and leaves next week's FOMC meeting as the next big event with market-moving risk. European headlines also continue to be a factor-one which does not adhere...


Micro News

3:27 PM:

FOMC Meeting Next Week, MBS Near Center of Recent Range

1:40 PM:

Geithner's "Succinct" Message Irks Europeans

12:13 PM:

ECON: Household Debt Contracts in Q2, Wealth Slips

10:53 AM:

Stocks Fall, TSY Yields Follow, MBS Trying... Potential Positive Reprices

10:43 AM:

Ginnie Mae MBS Issuance Surpasses $27 Billion in August

10:01 AM:

ECON: Sentiment Rises Slightly from 3yr Low. Expectations Down

9:15 AM:

MBS Languishing in Light Volume. Limited Data Today. Volatility Expected

3:58 PM:

Tomorrow's Economic Calendar Dies Down as FOMC Approaches

Around the Web

Video News

Giving the Housing Market a Boost

$65 Million Malibu Mansion Heads to Auction

BofA May Put Countrywide Into Bankruptcy; Stocks Rise: Video


Today's Comments

Adam Quinones

"REO bulk sales using agency funded leverage + shared-equity arrangement that allows private investors to build custom REO pools based on their own management..."

kyle woodard

"The plan enacted this week will resolve shadow inventory. The price of homes in AZ(home state) is up 15% to 25% at auction and open market. The FHA refining..."

Jason Harris

"Russ...ultimately there are no easy solutions. Some would benfit from your plan...most would not. Some will benefit from an expansion of HARP...most don't..."

Today's Q&A

Anonymous

"my mortgage loan was sold to a different bank but i am behind..."

Anonymous

"We have a mortgage that is 1 month old. We do not have prepayment..."

Anonymous

"How can I buy a REO?"