May2020

Mortgage Rates Stage Nice Comeback, But Uncertainty Remains

Posted To: Mortgage Rate Watch Mortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week. Mortgage rates are determined primarily by the bond market, and the bond market benefited from strong demand at the end of the month. Higher demand means higher[…]

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MBS Day Ahead: Bonds Look to Challenge Trend With Powell on Deck

Posted To: MBS Commentary The next Fed announcement is 1.5 weeks away and so it's time to start ramping up expectations for the details of the Fed's official QE announcement. But wait… Aren't they buying a ton of bonds already? Indeed, the Fed continues purchasing both MBS and Treasuries in[…]

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Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey

Posted To: Pipeline Press Here’s something you can do for your friends, relatives, and borrowers, especially older ones: Remind them that the current batch of coronavirus relief payments are coming as VISA debit cards . Texas’ Larry C. reminded me that we’ve all unexpectedly received cards in the mail that[…]

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April's Forbearance Requests Slow to a Relative Trickle

Posted To: MND NewsWire Black Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to the tidal wave in early April. Only 7,000 new plans were put in place during the week[…]

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Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)

Posted To: Mortgage Rate Watch It’s Thursday, and thus time once again for Freddie Mac’s weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it frequently results in misinformation for mortgage shoppers . The survey does an accurate job of[…]

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MBS Day Ahead: Why We're Watching Treasuries

Posted To: MBS Commentary The market reaction to coronavirus made a mess of the relationship between Treasuries and MBS (and between MBS and mortgage rates for that matter). These disconnections can happen from time to time and when they do, we stop following trends in Treasuries and focus on MBS.[…]

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Pending Sales Rout May Signal a Bounce for Housing – Realtors

Posted To: MND NewsWire Pending home sales cratered again in April, marking two straight months of declines that exceeded 20 percent. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) fell 21.8 percent to 69.0. The decline in March was 20.8 percent. The Index is down[…]

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Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop

Posted To: Pipeline Press With two business days left in May, one can feel the anticipation of the start of the “National Standing Desk League” opener coming up soon. I’m excited about that, and I’m excited that it’s garbage day here at the house. Taking out the garbage… What to[…]

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Mortgage Rates Hold Steady

Posted To: Mortgage Rate Watch Mortgage rates managed to stay sideways today after beginning the week with a move higher yesterday. This is a victory all things considered. Rates take guidance from multiple sources. When it comes to mortgages, the prices of mortgage-backed bonds are the key ingredients in determining[…]

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LO Jobs; Servicing, DPA, CRM Products; Warehouse Deal News; More Investor Changes

Posted To: Pipeline Press Making the rounds is, “The spread of Covid-19 is based on two factors. #1: How dense the population is. #2: How dense the population is.” As a nation, we remain divided on virtually everything about COVID. There is well-written article on how half the calls on[…]

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