February2021

MBS RECAP: Nice Bounce! Now What?

Posted To: MBS Commentary Nice Bounce! Now What? – An early bounce turned into an even bigger, friendlier bounce at the end of the day – Biggest reason for the gains is the losses that preceded them (momentum/technicals/tradeflows) – Still following the 2.5 coupon – Still would like to see[…]

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Brutal Week For Rates But There's Hope (Hopefully)

Posted To: Mortgage Rate Watch Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We’ve certainly been discussing it in recent newsletters ( especially last week’s ). The rising rate narrative hit the mainstream this[…]

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Forbearances Post Typical Mid-Month Increase

Posted To: MND NewsWire Black Knight reports a second increase in the number of loans in pandemic related forbearance plans in as many weeks. Forborne loans rose by 21,000 during the week ended February 23 after falling below 2.7 million for the first time since last April earlier this month.[…]

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Fannie/Freddie COVID Programs Extended to Match FHA, VA Deadlines

Posted To: MND NewsWire Deadlines for COVID-19 related relief for borrowers with Fannie Mae and Freddie Mac (GSE) mortgages were extended by the Federal Housing Finance Agency (FHFA) for the second time in a little over two weeks. The agency said the new changes were made to bring GSE programs[…]

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Freddie Mac's 12-Month Portfolio Growth Nears Half Trillion

Posted To: MND NewsWire Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 16.1 percent in January compared to a 22.4 percent gain in December. The portfolio balance at the end of the period was $2.777 trillion compared to $2.740 trillion the prior[…]

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Lenders Hiring MLOs; Correspondent, Tech, Servicing, Tech Products; What you Should Know About Yesterday's Rate Move

Posted To: Pipeline Press Huh? Rates don’t continually go down and then stay there for an indefinite period of time? No, they don’t. There’s this opinion piece in the Wall Street Journal: “We’ll Have Herd Immunity by April. COVID cases have dropped 77% in six weeks. Experts should level with[…]

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Mortgage Rates Are Now Well Over 3 Percent

Posted To: Mortgage Rate Watch Mortgage rates WISH they were still at 2.97%–the number conveyed today by Freddie Mac’s weekly survey. Freddie’s data is accurate when it comes to capturing broad trends over time, but can really fall short when the bond market is experiencing elevated volatility. To say that[…]

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MBS RECAP: Video Time Corresponds With Market Drama (Today's is 22 min.)

Posted To: MBS Commentary Just When You Thought It Wouldn't Get Much Worse Staggeringly weak day for bonds. 2.0 MBS coupon is now irrelevant. 2.5 is only game in town Lots of general motivations to discuss (watch the video), but the 7yr auction was the only obvious moment for cause[…]

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MBS Day Ahead: Just When You Thought It Wouldn't Get Much Worse

Posted To: MBS Commentary It got much worse. Bond yields were up more than 8bps by the open with the 10yr just a hair under 1.47%. It might be hard for traders to avoid ringing the 1.50% bell even if bonds manage to bounce today or in the next few[…]

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Ops, MLO Jobs; Cap. Mkts., Valuation, Default, Fulfillment Tools; Technology and Processing Notes

Posted To: Pipeline Press As hope for a recovery drawing nearer helps push rates higher, Carol K. writes, “I hate it when people ask me what I do for fun because there is no classy way to say, ‘Binge drink.’” The approaching 1003 form mandatory changes may cause some people[…]

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