Archive for December, 2009
Wednesday, December 30th, 2009
Posted To: Pipeline PressAccording to a recent report, due to the recession, Americans are eating cheap, unhealthy, fatty foods. Apparently, the recession started in 1957. (I write this as I munch on my Doritos...) Speaking of food and recessions, Tavern on the Green is going out of business - once ...
Posted in Uncategorized | No Comments »
Wednesday, December 30th, 2009
Posted To: MND NewsWireSix days of equity gains came to a halt yesterday but the losses were trivial as the Dow slipped 0.02% and the S&P 500 fell 0.14%. This morning, however, equity markets are seeing real losses as traders lock in profits and prepare for the New Year. One ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: MBS CommentaryIt took a while for markets to decide just what to do after the 5 year auction results at 1pm. Whether there was any actual level of "indecision" present is unknown and perhaps unimportant. More likely, what we see in today's charts is the effect of a ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: Voice of HousingAs we've discussed several times in the recent past , the GSE's are actively investigating non performing loan files for breaches of representations and enforcing warranties. What has traditionally been viewed by originators and lenders as a low frequency, moderate severity event ("a cost of doing ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: Community Commentary“Efforts and courage are not enough without purpose and direction.” This is a great quote by John F. Kennedy. Owners of small mortgage banking and brokering companies are passionate, energetic and motivated. It takes a certain personality and genetic code to own and operate a business in ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: MBS CommentaryAuction Results Are As Follows: 5-YEAR NOTES YIELDS High 2.665 pct Median 2.600 pct Low 2.538 pct PRICE/ACCEPTANCES Price 99.813909 Accepted at high 31.16 pct Bid-to-cover ratio 2.59 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 42,000,036,500 Total public bids tendered 108,683,366,500 Competitive bids accepted 41,890,770,000 Noncompetitive bids ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: MND NewsWireStandard and Poor's released the Case Shiller Home Price Index this morning. The S&P/Case-Shiller Home Price Indices are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: Mortgage Rate WatchMortgage rates continued to tick higher yesterday as benchmark Treasury yields rose and prices of mortgage backed securities fell for the sixth consecutive session. Most of the losses occurred early in the day, so price weakness was already accounted for on lender rate sheets when theywere ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: Pipeline PressOne never knows when the subject of mortgage banking will pop up - like yesterday. There I was at the Sundance Ski Resort (the one owned by "Bob" Redford) with my son. (He was there to snow board, I was there trying to figure out an opening ...
Posted in Uncategorized | No Comments »
Tuesday, December 29th, 2009
Posted To: MBS CommentaryThe S&P/Case-Shiller Home Price Index has been released. The 20 city home price index was +0.00% in October. Worse than estimates of +0.2%.On a year over year basis the 20 city index is down 7.3%. The 10 city home price index was also unchanged in October. On ...
Posted in Uncategorized | No Comments »