Tuesday, March 27, 2012

ABA Reports on Mortgage Lending in 2011

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Mar 27, 2012 4:05PM

ABA Breaks Down Mortgage Lending in 2011

The American Banking Association (ABA) has found that real estate lending conditions at the end of 2011 were little changed from those at the end of 2010 despite increasing regulations, compliance costs and a lack of clarity about rules. ABA reported the results of its 19 th annual Real Estate Lending Survey on Tuesday. The survey involved 185 banks, 86 percent of which were smaller community banks with assets under 252673 billion. Fifty-six percent of the participants were commercial banks and 68 percent...

Mar 27, 2012 2:00PM

Americans Still See Homeownership as Positive

Despite the trauma of the last few years, most Americans still believe that owning a home is preferable to renting according to the latest quarterly National Housing Survey data released by Fannie Mae. Many of these respondents, however, do not act on this belief because they view homeownership as an investment or because of financial constraints or an inability to get a mortgage. The Fannie Mae survey is conducted by telephone every month among a revolving panel of about 1,000 respondents consisting...


Micro News

3:20 PM:

MBS, TSYs Coasting in Low Volume, Much Improved on The Day

1:15 PM:

Fed's Rosengren: More Weakness Justifies More Accommodation

11:40 AM:

Edging Up Into Positive Reprice Territory ....

10:15 AM:

ECON: Richmond Fed Manufacturing Index Decelerates Appreciably

10:12 AM:

ECON: Consumers More Confident Today, Expectations Decline

9:56 AM:

Bond Markets Calmly Trading Narrow, Improved Range

9:11 AM:

ECON: 2012 Home Prices Off to a Rocky Start - S&P/Case-Shiller

2:37 PM:

MBS Break to New Highs. Positive Reprices If Gains Hold

Around the Web

Video News

Home Improvement Improving

S&P/Case-Shiller: Home Prices Decline

Wells Fargo's Jacobsen on Strategy


Today's Comments

Donald Scott

"Mostly lenders are worried about the saleability of the high LTV/CLTV loans. They are worried that they will be stuck with non-performing loans down the..."

Jason Harris

"I closed one last week with a $400K 1st, subordinated a $105,000 2nd lien and had an appraisal of $240K. (We require 2055 EXT for all Fannie's) Saved..."

catherinecoy

"Donald Scott, can you give us a few "for instance" regarding UWM's HARP overlays. Why in the world do lenders/investors need to gummy up..."

Today's Q&A

Monday, March 26, 2012

Homeowners Discouraged by Short Sales; Investors Picking up Slack

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Mar 26, 2012 11:18AM

Homeowners Discouraged by Short Sales; Investors Picking up Slack

While homebuyers are pursuing short sales with less enthusiasm because of the lengthy and unpredictable process, investors are finding them a new target of opportunity . Campbell/Inside Mortgage Finance HousingPulse Tracking Survey found that investors continued to boost their activity in the housing market during February and accounted for 24.2 of all housing transactions and 30.6 percent of short sales. Distressed sales accounted for 48.7 percent of all housing sales in February based on a three...

Mar 26, 2012 4:09PM

MBS RECAP: Volatile Session, But Contained

We haven't seen a whole lot of volume behind the current moves, but they've certainly been in the right direction. Fannie 3.5's are up 4 ticks on the day now at 102-17 and 10yr yields are testing their lows of the day in the mid 2.24's. It's too soon


Micro News

2:37 PM:

MBS Break to New Highs. Positive Reprices If Gains Hold

1:12 PM:

Choppy and Range-Bound. MBS Bounce At Highs.

11:37 AM:

MBS Begin to Lose Their Footing as TSYs Push Higher

11:04 AM:

Treasuries Near Worst Levels, MBS Outperforming

10:03 AM:

ECON: Pending Home Sales Unexpectedly Fall in February

8:49 AM:

ECON: Chicago Fed Index Turned Negative in February

8:39 AM:

Germany to Grow Bailout Fund, Bond Markets Weaker This AM

3:17 PM:

Low Volume, Low Volatility. MBS Coasting Out Uneventfully

Around the Web

Video News

Pending Home Sales Slip

Bernanke's Labor Speech Preview

Fed Is Done With Debt Purchases, Wells Fargo Says


Today's Comments

Jason Harris

"I closed one last week with a $400K 1st, subordinated a $105,000 2nd lien and had an appraisal of $240K. (We require 2055 EXT for all Fannie's) Saved..."

catherinecoy

"Donald Scott, can you give us a few "for instance" regarding UWM's HARP overlays. Why in the world do lenders/investors need to gummy up..."

catherinecoy

"I agree with every word of Frank Ceizyk's letter. I will do my utmost between now and 2014 (end of HARP 2.0) to identify and assist homeowners with..."

Today's Q&A

"Licensing requirements for LLC rental company GA"

"Investmant property downpayment information"

"Citimorgage and HARP loan"

Thursday, March 22, 2012

Three OIG Audits Include GSE Convention Spending, Oversight of Guidelines and Charitable Giving

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Mar 22, 2012 9:28AM

GSEs Spend $600K at MBA Convention Prompting OIG Review

This is the third of three evaluation reports released today by the Federal Housing Finance Agency's (FHFA) Office of Inspector General (OIG) regarding the oversight of activities of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac by FHFA. This evaluation concerns the GSEs participation in the 2011 Mortgage Bankers Association (MBA) Convention and Exposition. MBA's event was held at the Hyatt Regency Hotel in Chicago from October 9 to 12, 2011. The annual convention was attended...

Mar 22, 2012 3:44PM

Mortgage Rates Enjoy Second Stable Day After Sharp Increases

Mortgages Rates enjoyed a second day of doing something other than frantically rising or merely holding sideways. Rate offerings at most lenders improved just slightly though some lenders recalled initial rate sheets for moderate increases late in the day. This keeps Best-Execution at 4.0% but yesterday's thoughts on Best-Ex being more subjective at current levels remain in effect: 4.0% is advantageously priced at most lenders in terms of the relative cost or savings to move down or up in rate respectively...


Micro News

3:16 PM:

NMLS: New Federal Registry Resource Center Coming April 2

3:11 PM:

Illiquidity Starting to Drag Prices Down. Negative Reprice Risks...

3:05 PM:

Quick Comment On This Week's Fed Speeches

2:38 PM:

FED - Fisher Sees No Need For More Monetary Easing

2:35 PM:

FED - Bernanke Says US Economy Lacks Source of Demand

2:18 PM:

MBS/TSYs Generally Holding a Range. Slightly Weaker Into PM Hours

11:00 AM:

MBS Again Approaching Highs, Treasuries Try to Break Lower

10:22 AM:

Freddie Mac Weekly Rate Survey Rises to 4.08% vs 3.92% Previously

Around the Web

Video News

AIG Repays Taxpayers 252104.5B

Berkowitz Says Housing Recovery `Across the Board'

Maria's Market Insight: Housing Data Unimpressive


Today's Comments

Frank Ceizyk

"Please all of you quit your whining and try to help your customers out before you give up. This program may not perfect, but it is a step in the right..."

Bryan/Mortgage Finance Group, Inc.

"A program that will allow an LTV over 100% with a 50 back end, but not a 10% LTV with a 60 back end is a program that was rolled out with no thoughts other..."

Wayne Brown

"I just got information by phone less than an hour ago from my new employer...so I won't state by name at this point. That said, he informed me that..."

Today's Q&A

"can a homeowner be his own general contractorin michigan"

"how can i get a job cleaning out reo homes"

"should i pay half a point to lock my rate for an extra 30 days or wait and see what happens?"