July2021

MBS RECAP: Strong, Calm Week. Next Week Might Be Different

Posted To: MBS Commentary Strong, Calm Week. Next Week Might Be Different Saying "next week might be different" is of questionable value when it comes to financial markets. Every week might be different! That said, some hold more volatility risk than others. There was a moderate amount of risk this[…]

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MBS Day Ahead: Sun Also Rises; Inflation Also Misses

Posted To: MBS Commentary The sun also rises and inflation also misses its forecast! After several months of reasonably big upside surprises, core PCE inflation finally undershot the median forecast, even if not by much (3.5 vs 3.7). Based on recent reactions to inflation data, this isn't huge news because[…]

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AE, Sales, MLO, Ops Jobs; Whole Loan Trading, CRM, Renovation Products; Freddie and Fannie Changes

Posted To: Pipeline Press Yesterday I received this note from Tennessee. “Rob, thank you for the commentary, as always. Among several noteworthy items in yesterday’s, one thing stood out. ‘NAR has 1.5 million members but only 1.2 million active listings.’ That sure sums things up in my area.” (And most[…]

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MBS RECAP: Slightly Weaker Today, But Still In The Recent Range

Posted To: MBS Commentary Slightly Weaker Today, But Still In The Recent Range Thursday proved to be a very forgettable session for the bond market with trading levels technically weaker on the day, but right in line with most of Wednesday's trading. MBS were actually a bit better than that[…]

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Mortgage Rates Near Long-Term Despite Taper Talk

Posted To: Mortgage Rate Watch “Taper talk” refers to comments, speeches, or official policy communications from the Federal Reserve (aka “the Fed”) that speak to the timing and nature of a reduction in the Fed’s bond buying activities. Wow! What a boring and potentially confusing sentence! Let’s try again… The[…]

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MBS Day Ahead: Cue The Data-Driven Grind (Eventually)

Posted To: MBS Commentary With the Fed having confirmed their expected stance (closer to tapering, tolerant of short-term inflation, and plenty of pandemic-related uncertainty remaining), we move on to an inter-meeting period that will offer several opportunities to interpret the data that may inform the September Fed meeting. Today's GDP[…]

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"Seesawing" Pending Sales May Signal Market Turning Point

Posted To: MND NewsWire Pending home sales fell back slightly in June after a notable and unexpected 8.0 percent gain in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dipped 1.9 percent from May to a reading of 112.8. This was also 1.9 percent[…]

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States Get Framework for Regulating Non-Bank Servicers

Posted To: MND NewsWire The Board of Directors of the Conference of State Bank Supervisors (CSBS) has released model state regulatory prudential standards for nonbank mortgage servicers. CSBS is the national organization of bank regulators from all 50 states, the District of Columbia, and most U.S. territories. Those regulators supervise[…]

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AE, MLO Jobs; MBS Delivery, Processing, Data Breach Tools; Redwood Trust Earnings; GDP Results

Posted To: Pipeline Press Mission Statements are so passe. We now have “long term vision statements.” For some, great literature consists of the Bible, or Moby . For others of limited intelligence, like me, the pinnacle is National Lampoon’s 1964 Yearbook . (The Freshman section is classic.) For others it[…]

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MBS RECAP: Fed Hints At Tapering, But Bonds Don't Care

Posted To: MBS Commentary Fed Hints At Tapering, But Bonds Don't Care Why are rates lower despite the Fed announcement taking another step toward tapering? It's a trick question actually. True, the Fed did tweak some verbiage to grease the skids for tapering, but that was widely expected. During the[…]

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