July2021

MBS RECAP: Ending on an Equivocal Note Ahead of Fed Week

Posted To: MBS Commentary Ending on an Equivocal Note Ahead of Fed Week If we look through the small-scale volatility throughout the week, we see bond yields moving back up to last week's lows as of Wednesday and essentially remaining flat since then. In that sense, Monday was the big[…]

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MBS Day Ahead: Will Friday Finish What Wednesday Started?

Posted To: MBS Commentary After a stellar Monday and a big reversal on Tuesday, Wednesday stands out as the week's big shift back toward last week's trading range. Today's session is in a position to finish the job. That would only require minimal weakness at this point. The alternative would[…]

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HR, Post-Closing, Controller, MLO Jobs; NOO, HELOC, Processing Tools; Florida Fraud Case; LendingClub Fee Settlement

Posted To: Pipeline Press How do you know when someone has too much money? How about when they pony up $16k for Tarzan’s 1932 loin cloth ? (“Gosh, if that loin cloth could talk…”) LendingClub is going to have less money to the tune of $18 million due to charging[…]

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Mortgage Rates In Best Territory Since February

Posted To: Mortgage Rate Watch This week’s mortgage rates are hard to compare to last week’s. There are two simple reasons for this. The first is the recent removal of the adverse market fee that artificially increased rates for refinance transactions starting late last summer. The second is the general[…]

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MBS RECAP: Bonds Remain Resilient With Help From ECB

Posted To: MBS Commentary Bonds Remain Resilient With Help From ECB This morning's ECB announcement proved to be moderately bond-friendly. Combined with weaker Jobless Claims data, it was enough to get bonds started off on a strong note. Gains continued throughout the European trading session. Yields bounced modestly after that[…]

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Delinquencies Fall Below Pre-Great Recession Average

Posted To: MND NewsWire The national delinquency rate dropped by 7.62 percent in June and is now 42.39 percent below its rate at the worst of the pandemic. Black Knight, in its monthly report, says the June rate, at 4.37 percent, was also back below its pre-Great Recession average. Still,[…]

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MLO, Ops Jobs; Tech, Hedging, Advertising Compliance Products; Non-Agency Updates

Posted To: Pipeline Press How would you like to compete against a company whose tagline is, “We Do It All, Guaranteed!”? The program is part of an existing Weichert Realtors’ offering called “All Under One Roof” that gives consumers brokerage, mortgage, insurance, and other services. Reducing the friction between taking[…]

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Existing Home Sales Rise Slightly for the First Time in Four Months

Posted To: MND NewsWire Existing home sales snapped a four-month losing streak in June. Sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments, rose 1.4 percent on a seasonally adjusted annual basis to 5.86 million units, 22.9 percent higher than the 4.77 million rate in June 2020. Activity was[…]

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MBS Day Ahead: Fighting to Stay in New, Lower Rate Range

Posted To: MBS Commentary This morning's ECB announcement proved to be moderately bond-friendly. Combined with weaker Jobless Claims data, it's been enough to keep bonds inside this week's new, lower yield range marked by a ceiling of roughly 1.30% (we have it marked at 1.295, or 1.29+ for short). We're[…]

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MBS RECAP: Defensive Shift Ahead of ECB Announcement

Posted To: MBS Commentary Defensive Shift Ahead of ECB Announcement Coming into the week, there was some speculation that Monday's bond rally was based on expectations for a friendly announcement from the European Central Bank (ECB) on Thursday morning, but it probably makes more sense to ascribe the move to[…]

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