Tuesday, May 22, 2012

Buybacks Wearing on Industry; Fannie, Freddie and Wall Street; FHA & Condo Project Changes?

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May 22, 2012 9:35AM

Buybacks Wearing on Industry; Fannie, Freddie and Wall Street; FHA & Condo Project Changes?

Pick an overwhelming percentage, like 80 or 90%. Remember when residential loan production wasn't "that" percent agency? Non-agency loans are still out there and periodically being securitized (just ask Redwood Trust in the jumbo sector), but by most accounts the market is "dislocated." And if you're a large bank, who is flush with cash from deposits, there is certainly no urgency to securitize the product and move it off your books - just keep earning the spread. But here is an update on the non...

May 22, 2012 11:31AM

NAR Declares Start to Housing Comeback

The housing recovery is underway according to the National Association of Realtors® (NAR) which released numbers on Tuesday to back up that claim. Existing home sales rose from March to April and are well above sales one year ago. Prices are on the rise as well and the improvements were felt across all regions of the country. Total existing home sales in April including single-family homes, townhomes, condominiums, and cooperative apartments increased 3.4 percent to a seasonally adjusted annual...


Micro News

2:18 PM:

Decent Uptrend In Progress For MBS

11:58 AM:

Greeks See Euro Zone Exit Risks as 'Empty Threats'

10:51 AM:

Germany, France Draw Battle Lines Over Eurozone Bonds

10:22 AM:

Bond Markets Continue Retreat Mode After Morning Data

10:07 AM:

ECON: Richmond Fed Index Falls To +4 vs +14 in April

10:04 AM:

ECON: Existing Home Sales Rise Slightly Faster Than Expected

12:20 AM:

Exclusive: U.S. Lets China Bypass Wall Street For Treasury Orders

3:05 PM:

MBS Incrementally Weaker In The Afternoon, Slightly More Reprice Risk

Around the Web

Video News

Health of Home Buyers

FINRA, SEC May Investigate Morgan Stanley: Reuters

Shelby on Dodd-Frank, Jamie Dimon Testimony


Today's Comments

John DeLeva

"The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..."

Ted Rood

"I can already hear state AGs falling over themselves to sue lenders who charge "excessive fees" such as $4K on a $50,000 loan. Flat pricing would..."

Marvin Harris Jr.

"The more you regulate a profession the less people will endure the regulation. That's why you see the drop in individual licenses. This system will..."

Today's Q&A

"Can I negociate out of having an escrow account during a HARP Refi?"

"What is a high cost loan"

"Can seller ask to see what bank appraisal amount is?"