June2021

Mortgage Rates Trickle Lower Yet Again

Posted To: Mortgage Rate Watch Mortgage rates fell again today–now officially below the lowest levels in the past 2 weeks. In order to accomplish that, rates had to fully erase the damage done exactly 2 weeks ago after the Fed announcement caused the biggest single-day spike in months. That recovery[…]

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MBS RECAP: Failed Breakout Puts More Emphasis on End-of-Week Events

Posted To: MBS Commentary Failed Breakout Puts More Emphasis on End-of-Week Events Notice that the headline didn't invoke "the jobs report" for the 17th time this week. The fact that we've been this focused for this long is either a sign that trading is panning out as expected (i.e. sideways[…]

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Mortgage Application Volume Nears 18-Month Low

Posted To: MND NewsWire Mortgage applications fell sharply last week, affecting both refinance and purchase components of the Mortgage Banker Association’s (MBA’s) Market Composite Index. The index, a measure of mortgage loan application volume, was down 6.9 percent on a seasonally adjusted basis during the week ended June 25, and[…]

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Non-QM Mgt., CD, AE, MLO Jobs; Jumbo, Verification, Subservicer Products; Non-Agency News

Posted To: Pipeline Press “Adam and Eve were the first people not to read the Apple terms and conditions.” Who has actually read their phone’s manual? Technology marches on, with or without us. Two major public home builders, Taylor Morrison and PulteGroup, recently piloted programs where buyers can choose, design,[…]

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MBS Day Ahead: Is It Friday Yet?

Posted To: MBS Commentary Some people may pine for Fridays due to the end of a work week, or perhaps as the start of an extended weekend (as is the case with the impending example due to Independence Day). But we here in the bond market are anxious for this[…]

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MBS RECAP: Strong Data, But Even Stronger Sideways Grind

Posted To: MBS Commentary Strong Data, But Even Stronger Sideways Grind Bonds started the day in slightly weaker territory but moved very quickly to get back to unchanged levels. After that? Nothing! 10yr yields and MBS have both coasted sideways in ranges so narrow as to make observation and analysis[…]

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Mortgage Rates Inch Toward 2-Week Lows

Posted To: Mortgage Rate Watch Mortgage rates are primarily a function of trading levels in the bond market and bonds have enjoyed (or suffered) an interesting mix of volatility and stability in June. US Treasury yields (which share a strong correlation with ,mortgage rates) moved sharply lower at the beginning[…]

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Pandemic Continuing to Fuel Home Price Gains

Posted To: MND NewsWire When the S&P CoreLogic Case-Shiller and Federal Housing Finance Agency’s price reports for March were released we wrote that the superlatives were getting tired. The April report has prompted Case Shiller to roll out the term “extraordinary.” Where do we go from here? The Case-Shiller U.S.[…]

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CFPB Updates Servicing Rules to Ease Transition from Forbearance

Posted To: MND NewsWire The government stakeholders involved in the various pandemic related forbearance programs appear to be directing their full attention to their upcoming expirations. Ginnie Mae earlier announced a new class of mortgage-based securities (MBS) to absorb loans that have been modified to return them to performing status.[…]

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Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes

Posted To: Pipeline Press Say what you will about huge companies not having an impact on housing, MLOs can’t ignore the fact that they’re here. The latest example is global real estate investment and land asset management company Walton Global Holdings launching a build-to-rent (BTR) line that will leverage its[…]

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