October2020

2016 Reminds Us How Completely Crazy Next Week Could Be For Rates

Posted To: Mortgage Rate Watch The 2016 election won’t soon be forgotten in the mortgage or bond markets. Many of the predictions were dead wrong when it came to how interest rates would react to a Trump victory, and the reason ended up being very simple in hindsight. Are there[…]

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MBS RECAP: Traders Running For Sidelines Ahead of Next Week's Election

Posted To: MBS Commentary Traders Running For Sidelines Ahead of Next Week's Election Big losses in both stocks and bonds today as traders take their seats for next week's big show. Month-end trading volumes were huge. It was the single biggest trading day since June. After 2016, no one wants[…]

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Residential Fixed Investment Soared Past GDP Growth in Q3

Posted To: MND NewsWire Hidden in the Q3 report on Gross Domestic Product (GDP) on Thursday, which showed a rebound of 33.1 percent from the 31.4 percent loss in Q2 was news of some real growth. Robert Dietz, chief economist of the National Association of Home Builders points out, in[…]

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MBS Day Ahead: Month-End Trading Goes Both Ways; Chart Patterns Suggest Caution

Posted To: MBS Commentary The topic of month-end trading comes up frequently over the years. Reason being: we often see market momentum on the last few days of any given month that can't be easily explained by any other motivation. And while we wouldn't be so naive to think that[…]

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Fannie/Freddie Report Increased Profits

Posted To: MND NewsWire Both GSEs reported financial results for the third quarter of 2020 that were significantly higher than both their Q2 2020 and their 2019 numbers . Fannie Mae’s net and its comprehensive incomes were $4.2 billion and Freddie Mac’s net and comprehensive incomes came in at $2.5[…]

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Forbearance Plans Increase, Many are Reinstatements

Posted To: MND NewsWire The number of loans in COVID-19 related forbearance plans rose during the past week, driven by both an increase in new plans and significantly fewer borrowers exiting from the program. Black Knight said its weekly survey found a net increase of 31,000 mortgage loans in forbearance[…]

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VOE, Broker, Non-QM, Social Media Tools; 1.5 Percent Security Takes Off

Posted To: Pipeline Press Happy X/XXX/XX if you are a Roman. Rome certainly had its share of slaves, and the existence of slavery in one’s family has certainly caused consternation in the present day as buildings are renamed and statues are torn down. Companies that made their fortunes on slavery,[…]

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MBS RECAP: Technicals And Fundamentals Join Forces to Deliver Warning For Rates

Posted To: MBS Commentary Technicals And Fundamentals Join Forces to Deliver Warning For Rates Whether we're talking about the week as a whole or simply today's trading session, bonds tried to convince us they were in good shape only to give up the gains and head back toward weaker levels.[…]

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Mortgage Rates Can Only Hold Out For So Long

Posted To: Mortgage Rate Watch It was a bit of a bittersweet day for mortgage rates . On the one hand, it was the Fed’s first day buying a new category of mortgage-backed bonds–one that would help pave the way for rates to move gradually lower if the broader bond[…]

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Cap. Mkts., LO Comp Survey, Fulfillment, Retention Tools; Agency-related Changes

Posted To: Pipeline Press This weekend we receive an extra hour of 2020. If there was ever a reason to end the time change, this certainly is it! Markets don’t like uncertainty, and nothing about 2020 has been certain (although this morning we learned two certainties: Fannie Mae’s net income[…]

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