Archive for November, 2009
Monday, November 30th, 2009
Posted To: MBS CommentaryIt was a fairly anticlimactic trading day on which to hit the highest closing prices in the history of the 4.5 MBS. With limited data to either douse the dreams or fuel the fires of Dubai-induced flights to quality, bonds were forced to turn to Chicago PMI ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: Voice of HousingTreasury is becoming impatient with servicer performance despite their investments and success with processing trial loan modifications. The program was/is targeted to help 3-4 million homeowners that were distressed or where imminent default within 60 days was likely. Treasury provided servicers with real economic incentive to ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MND NewsWireHUD and the Treasury Department are taking another crack at moving its foreclosure prevention efforts from concept to reality. And now it is adding "shame" to its list of weapons. The Treasury Department announced today that it intends to increase pressure on lenders and servicers to move ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MBS CommentaryAfter more volatile morning movements, MBS have improved in a very narrow range into the afternoon with the 4.5 up 3 ticks from Friday's close to 101-19. Closing at this level would constitute an all time high. Tsy's meanwhile had been negative almost all morning, but as ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: Mortgage Rate WatchI hope everyone had a fantastic holiday weekend...now it’s back to work. Last week ended on a flat note with mortgage backed securities closing basically where they opened Friday morning. Bolume was extremely light but that was expected as the markets were only open for a ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MND NewsWireThe Federal Housing Administration (FHA) is moving to reduce risks to its single-family insurance fund through new regulations proposed today. The changes, announced by FHA Commissioner David Stevens, include increasing the net worth requirements of FHA-approved lenders from the current level of $250,000 to a minimum of ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MBS CommentaryThe FN 4.0 is -0-01 at 100-09 yielding 3.98% and the FN 4.5 is currently +0-00 at 102-16 yielding 4.198%. The secondary mortgage market current coupon is now 3.96%. The CC yield is +73bps/10yr TSY yield and +63bps/10yr swap rate. "Rate sheet influential" yield spreads (over benchmarks) ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: Pipeline PressAn uncle once told me, "I've had bad luck with both my wives. The first one left me. And the second one didn't." In a story from Reuters, both Deutsche Bank and France's BNP Paribas SA separately sued Bank of America last Wednesday , "claiming that the ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MBS CommentaryI can imagine that bonds stepped on the scale this AM much the same way as I did. Yes, the holiday's were good while they lasted, but things may be a bit too overweight this AM. If you weren't around for the rousing Friday that was, the ...
Posted in Uncategorized | No Comments »
Monday, November 30th, 2009
Posted To: MND NewsWireAcross the board investors are worried. Equities are down, Treasuries are soft, crude oil is flat, the dollar is weaker and even gold is in sell-off.t Two hours before the week’s opening bell, Dow futures are off by 14 points to 10,278 and S&P 500 futures are ...
Posted in Uncategorized | No Comments »